Recently there have been plenty of worries on people’s minds from the pandemic, and now the cost of living crisis in the UK is starting to make people more worried about potential investments and business opportunities. If you wanted to invest in a franchise before but were not sure which industry would be right for you, don’t worry since today we will share the top recession-proof franchise opportunities this year.
What is a recession-proof franchise?
A recession-proof franchise is a franchise business that can succeed and thrive during times of uncertainty. Recession-proof franchises for sale usually provide essential services that people will always require. This is why recession-proof franchises are able to survive and thrive even through tough economic times.
The top recession-proof franchise industries
Now you know what a recession-proof franchise is, we will now list the top recession-proof franchise industries that could be your ideal business opportunity for 2023.
Many potential franchisees overlook the cleaning industry out of fear that people will start doing their own cleaning in a recession. Although this may be the case for some people, most will rather hire a company to handle their cleanliness needs since people are very busy with their businesses or jobs, so the free time they do have after work or holidays they do not want to spend cleaning their homes or offices. This allows cleaning franchises to thrive even during a recession.
Repair-based franchises usually thrive during recessions because, in recessions or pandemics, people typically end up spending more time at their homes or offices, so it’s inevitable that one day one of your assets will need repairing. This was especially common during the covid-19 pandemic lockdowns as more people were spending time in their homes which increased the demand of computer repair services.
Usually, during recessions, people spend a lot more time in their homes, leading to the massive demand for delivery services as people prefer to have the goods or services delivered to their door rather than get them themselves. This was especially common during the covid-19 pandemic since people did not want to risk going out, so the demand for their shopping to be delivered saw a 2.4% rise in just two months, according to this article. This proves that delivery and courier service franchises are an excellent investment, especially during recessions.
Technology franchises thrive during tough economic times since many businesses rely on technology for their daily operations and services. Even if the economy is in decline, companies will still spend money on technology services and assistance with their technology as it’s a crucial part of their business. Also, keeping your customers happy is especially important with the cost of living crisis we are currently facing. The last thing you want to do as a small business is to lose your customers.
We hope this helped!
Lastly, we would like to thank you for reading this article, and we hope it has helped you find out the best franchise industries to invest in during a recession. If you are not interested in pursuing any of the listed industries above, feel free to browse our complete franchise directory providing exciting franchise opportunities in over 60+ industries. If you want to learn more about buying a franchise, we recommend you to check out our blog, which is the UK’s largest resource of FREE franchising information containing over 1,000+ articles.