Best Recession Proof Franchises
What are the best recession proof franchises?
Since we entered the global pandemic in 2020 and time has passed we have learned to navigate the world…
There is an intersection between business and the pandemic as small businesses have succumbed to the lockdown that was enforced upon them. There is also an intersection between the current financial economy and stock market as in early 2020 it indicated we were headed towards a recession. Inflation rates in the last few months have been rising and if history repeats itself as it often does it is only a matter of time before the recession is here.
The lockdown has caused many small businesses to no longer exist and many other businesses to thrive.
One of the questions that I get asked often is; “What are the best recession proof franchise businesses?
At Bailey Brown The Franchise Agency we have put together a list of the best recession proof franchises.
What is the definition of a recession proof business?
A recession proof business is one that you can continue to operate during disruptions in our society. Another word that is used to describe this is “an essential business”. During the downturn in the economy, it is important to keep your business going.
There are some franchises that will always fair better than the others.
Here’s a few industries that are great to operate throughout a recession and beyond.
Firstly, cleaning franchises still have great value during the recession. Cleaning and home maintenance have always been part of an up and coming industry. The cleaning industry is a $50 billion dollar industry and continues to grow.
The other industry is the oil change franchises. Very few people have the skills to do their own oil changes and car maintenance.
The average age of vehicles on the road is 11.5 years so that means that older cars require more maintenance and would provide revenue for the oil change franchise.
Let us know which recession proof franchise is your favourite. At Bailey Brown Consulting and The Franchise Agency, we represent over 500+ franchise brands in the United States and Canada.