Every day, recession proof franchises are moving forward and becoming new forces for change and development within their industries. There are promising brands in diverse fields that are working to make waves and create positive change, and more than a few of them share common features.
That’s likely not by accident — many recession proof franchises take similar approaches to their work, and use their experience and understanding of what a brand needs to help them guide their business.
The Right Industry
Recession proof franchises come in all shapes and sizes, but most of them began when a future owner obeyed a simple and fundamental law of business, which is to find an industry that’s had a long history of expansion.
Every industry has a record of performance available for future owners to look over, and it’s important to stop and closely review those records until arriving at the right one. Market size, past growth, and other essentials should all show sustained positive movement over a substantial time period.
Future Expectations
The past isn’t the only aspect of an industry worth investigating when looking into recession proof franchises, either. There should be projections of future development as well, based on external factors and trends within the larger business.
Will the industry be growing in five years, and what forces are at work that an owner might be able to control or influence? Answering these questions can point a prospective owner to the franchise that’s ideal for them.
A Family-Centric Approach to Franchising
For recession proof franchises, people are often the key to expansion. Both the people who comprise the potential market, and the people on the franchise team working together to establish the brand, are critical to building a business.
Fortunately, that’s also an area over which an owner can exert significant control.
Customers and Team
The team behind the brand is the heart of most recession-proof franchises, and helps shape the operation’s tone, attitude, ethos, and much more. That makes selecting the right team members, and giving them the training and guidance they need to blossom and grow into a family, a must for owners.
And the same approach can aid in building customer loyalty. Creating an open, welcoming, family atmosphere at a business can forge bonds with guests, and make them more likely to return with their friends and loved ones.
Quality First
What do modern customers look for when they seek out a brand? Many of them are in search of services or products that can meet their needs and maintain a certain standard of excellence along the way.
Recession proof franchises are often the ones that recognize this customer preference and rise to the occasion. It can be a fantastic way to set a brand apart from others around it, and help them create a reputation for quality.
Every Step of the Way
That insistence on high quality should pervade every part of a brand, from the vendors they work with, to the ingredients or equipment they use, to the care and love they put into preparation and execution of a task or item.
And a dedication to quality shouldn’t stop when the meal is delivered or the job is done. Franchises that stand behind their work and take action to resolve concerns when they arise have more tools to build brand loyalty, and could be better positioned for future growth.
Brand Vision
The business world we live in today is different from the one we were born into. The modern commercial landscape is filled with umbrella companies and franchise families, each with a singular vision for the future.
It’s a reality that can make having a central leader guiding a brand’s development more essential today than ever before when developing recession proof franchises.
Clear Direction and Purpose
It’s difficult to overstate the influence and impact a motivated leader can have on a brand. They can provide an overarching sense of direction, and give the franchise a personality of its own that helps it carve out its own space in the business world.
Thoughtful, prudent leadership can affect every aspect of a franchise, from location to expansion plans and everything in between. And in the future, this already essential element of the modern franchise will likely become even more crucial.
Franchise Model
No two recession proof franchises are built the same. They each have their own way of working, and franchise models designed to fit their specific circumstances and goals.
Those varied approaches are often skin-deep, though. Underneath the differences is usually a well-conceived franchise model designed to deliver robust, comprehensive support to owners whenever the situation arises.
Assistance That Matters
Owners should look for solid support from the brand throughout the onboarding process, and expect assistance in finding the right location, building out the site, and launching the new store in style.
And onboarding should be just the start. Brands that are geared for growth often include ongoing support as a standard operating procedure, and are ready to lend an experienced hand if it’s called for.
Find Recession Proof Franchises with The Buffalo Spot
Industry, family approach, a belief in quality, and a vision and franchise model centered around customer care and owner support can help a brand develop through both fair economic times and more challenging environments.
It’s the way we at The Buffalo Spot take on each day.
We’re a family-focused restaurant with a quality-first menu of crowd favorites our customers love. And as a proud member of the Encinal Brands family of franchises, we work every day to deliver superior owner support alongside the kind of care our guests expect and deserve.
The Buffalo Spot is getting ready to expand again, and we’re looking for future owners to grow with us!
Interested in getting more details? Contact us today!
