The 2020 franchising trends to integrate into your business
The franchising industry is as booming as ever, and it’s only set to up the ante as we continue through 2020. As an industry so varied and unpredictable, it’s only natural that trends change year-on-year. In this blog post, we take a look at some of the biggest franchising trends set to make waves in 2020.
Many franchises will continue to steadily integrate technology into their everyday practices. This could transform any aspect of your business model, from product tracking and point of sale (POS) systems to online food tracking systems and customer relationship management (CRM) systems.
The integration of technology on a more mainstream basis will have many benefits. For instance, services will become more streamlined, the processes will become more efficient, and the introduction of tech will free up employees to do other hands-on work.
A Gen-Z adjusted model
2020 is the year that Gen-Z will begin to enter the workforce in droves. As a generation with a culture vastly different from its predecessors, the workplace will see some rapid changes. For instance, this is a generation that is tech-native, meaning they have grown up with technology and are much more accustomed to its integration in everyday life. They’re also looking for a career that’s long-term and provides stability, as opposed to random jobs with little progression.
Because of this, don’t understate the value Gen-Z workers can bring to your workforce. They’re likely to be dedicated and in it for the long-haul – not to mention their knowledge of technology can always come in handy!
Though admittedly already around for a few years, 2020 is the year that multi-unit franchises will truly dominate. One of the main reasons for this switch is that franchise owners themselves are only seeking out the entrepreneurs looking to invest in multi-unit businesses, as this is seen to be more reliable.
Investing in multi-units for your franchise reaps its benefits for you too. For one, they’re viewed as better protected during times such as a recession or other financial troubles, as there are more assets available to back up on.
If you’re a franchise owner looking for more investors in your business, look no further than Franchise UK. As one of the country’s biggest online franchise directories, your company will be more accessible than ever for those that are seeking their next big investment. Get started today by browsing our website to see what we’re about.