Every business and industry had to overcome unique and unprecedented challenges in 2020 and the electronics repair industry was no different. Despite these challenges, uBreakiFix, a leading franchise in this industry, announced that they ended the year with substantial growth in Q4, opening 22 new locations.
As an industry that has relied heavily on an in-person, brick and mortar model and environment, at first glance exercise gym franchises seemed highly vulnerable to the market disruption of the COVID 19 pandemic. But instead of focusing on foot traffic, these businesses are changing their models and finding success.
With how easily accessible indoor and outdoor swimming pools are, along with their wide appeal to everyone from toddlers to the elderly, it’s no wonder Fitness Equipment Source ranks swimming as the fifth most popular activity in America. As swimming’s popularity bounces back this summer, the demand for swim school lessons for children should also. Check out these swimming school franchises with promising growth for 2021.
A recent study during COVID-19 from BusinessWire and Technavio found that the swimming pool industry is projected to grow by $3.56 billion between 2020-2024, progressing at a CAGR of over 2% with accounting for the impact of the coronavirus. One of the key market drivers attributed to the projection is a forecasted boom in the leisure industry. Some families who don’t feel safe traveling will stay home at their own (newly installed) pools, while others who feel comfortable getting out of the house will look for safe family activities like swimming for summer relaxation.
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Even decades of work in the franchise industry couldn’t have prepared the most seasoned among us for the rigors of 2020. But leaning into the culture and values of your brand can make needed operational challenges less daunting and bode well for the strength of your franchise moving forward in 2021 and beyond.
After a pandemic-related revenue decline of more than 50 percent in 2020, the hotel and resort franchise industry is finally seeing some light at the end of the tunnel. As COVID-19 vaccines become more readily available, travel restrictions will decline and the safety of travel will improve. These factors, combined with a global cabin fever, skipped vacations and family visits, declines in travel expenses due to low demand and unused paid time off are leading a number of financial websites such as TheMotleyFool to predict a hotel and resort franchise boom at some point in 2022.
Air quality has never been a bigger business than during the COVID pandemic. As businesses and commercial spaces adapt their environments to follow state-mandated protocols, HVAC franchises are leading the way to ensure customer and employee safety and represent an excellent franchise investment in 2021 and beyond. According to MarketWatch, the global HVAC market was expected to realize a 6 percent CAGR even before the pandemic, with revenue increasing from $91.3 billion in 2018 to $173 billion by 2024.