In our current US market, the economy is fortunately doing quite well! There is current expansion in job creation, GPD growth is continuous, interest rates are reliable and steady, and inflation is low! These are all very strong markers of a strong economy, or also known as the Goldilocks Economy.
The Goldilocks economy was named after the popular children’s story. Unlike Papa Bear’s porridge being too hot, or Mama Bear’s porridge being too cold, our economy is in the ideal “just right” state. While this economy is most favorable for entrepreneurs, corporations and employees, how long is this economy realistically sustainable? How does one plan for the ever-unsure future, and create a defense for the potential of a fiscal downturn?
While business is satisfying and we’re comfortable in our current job market, preparing for the future should always be in the back of consumer’s minds. Creating your own business is always an excellent way to turn a profit, but it does come with added challenges compared to opening and operating a franchise business. There is always risks when opening a business, and losing your savings and investment is at the forefront of these risks. The safest bets of business being that of recession-proof franchise businesses, the places where people are going to spend even in the toughest of times.
This offers the question of which businesses have shown to be ‘recession-proof? Services seen as necessities are the most secure, being that regardless of economy, your hair is still going to grow, your taxes will still need to be prepared, and children will still be in need of an education. Childcare education services continue flourish even in times of economic struggle. This market for enrichment programs includes sports, art, music, and more recently STEM (Science Technology Engineering Mathematics) education. Education franchises also have some of the higher pre-tax income margins, seeing an average of $106,205 yearly. Focus on education is often highlighted in times of high unemployment as a potential anchor for avoiding layoffs.
Franchising is the key tool in launching, operating, and growing your business. Many successful franchisers, like High Touch High Tech, assist franchisees in the structure of understanding their market, training and implementation, and strategic marketing plan initiatives. This benefits franchisees by offering a more focused, streamlined process than would be necessary with opening a business on their own. Opening a franchise offers the flexibility, entrepreneur status, and profit margins that are associated with being a business owner with the added collaboration and support of your franchiser.
High Touch High Tech is a franchise operation that has been offering franchise locations for more than 25 years, one of the longstanding names in STEM enrichment education. We offer our franchisees the partnership of organization and foundation, in a market proven to be more resistant to bankruptcy and collapse. High Touch High Tech encourages those with a passion for education, independence, optimism and business savvy to secure business plan while the market is in your favor.
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