With a new year comes new trends. This includes franchising trends potential investors should pay close attention to in 2023.
Which trends will lead franchise industry sales this year and have the most significant effects on that industry? Here are our top three franchise predictions for 2023.
From “White Collar” Worker to Franchise Owner
According to Forbes, one of the franchising trends for 2023 is that more white-collar workers will be looking for alternative opportunities due to layoffs, and will look to franchise ownership to further their careers and build wealth.
Forbes also reports that numerous employees made the decision to leave corporate America to become their own bosses, both during the recession in 2008 and the 2020 portion of the COVID-19 pandemic. Factors are pointing toward a repeat of this during 2023. These professionals are using their corporate experience and utilizing the support and stability a franchise provides as a pathway to success.
Spread the Good, Spread the Word
Another franchising trend for 2023 is an increase in the use of social media platforms to spread the word about the philanthropic efforts of franchises. Corporate ethics are important to consumers, can determine their loyalty and patronage to a franchise and serves as an effective franchise business model. Franchisees have enjoyed an increase in achieving a better market penetration by sharing their stories of community involvement via social media to reach consumers.
At Budget Blinds, we developed our Heart & Home program, which awards our franchise owners for giving back to the communities in which they serve. Our parent company, Home Franchise Concepts, has also awarded a franchise business worth more than $100,000 to a veteran. We also have also partnered with Working Wardrobes to provide job training, placement and wardrobe services to assist those in need and better provide them with a chance to take their place in the workforce. And we have also organized food and clothing drives, and we have active involvement with Wounded Warriors Canada and Homes for Our Troops.
A “Green” Franchise Business Model
Society places an increased importance on being environmentally conscious and franchisees are expected to increase those efforts in 2023 to meet the expectations of consumers.
In recent years, Budget Blinds manufacturers’ have reimagined their business practices to become more “green” and environmentally friendly. Initiatives include sustainable packaging in an effort to generate less waste. Franchises will also continue to cater their advertising and marketing efforts to an ever-increasing socially conscious audience.
Budget Blinds features eco-friendly window treatments to help preserve our natural resources and our woven natural shades from our Inspired Shades™ Collection are made from hemp, kenaf and flax, are 100% organic and environmentally-friendly, and completely recyclable. Running an environmentally conscious business enterprise is the future.
Take Off the Blinders and Join Budget Blinds
Those looking to purchase a franchise are drawn to proven businesses that experience growth and Budget Blinds meets those needs. Budget Blinds franchisees enjoy strong sales and profit margins in addition to a nearly 70% closing rate, refer to our Franchise Disclosure Document for details.
We are the No. 1 custom window coverings franchise in North America, ranked No. 19 on Entrepreneur’s Franchise 500® list and ranked the No. 1 Home Improvement Franchise. Budget Blinds is part of Home Franchise Concepts, the top-selling family of direct-to-consumer brands in the home improvement industry.
Our proven, award-winning business model has made our franchisees a success for 30 years. We provide our franchise owners with the tools they need and support them through our large network of successful franchisees, alliance vendors, and a dedicated franchisor leadership team.
If you are interested in learning more about what we have to offer and the potential to join our expanding franchise family, inquire now.