These days, you can easily find yourself a viable food or hydraulic hose business opportunity to jump on that offers mobile options for your franchise. Many people are opting for this trend. Franchise businesses are going far and beyond the popular realm of restaurants and the food industry, claiming a significant presence and annual payroll in various other sectors, according to the US government’s census bureau. You may be wondering what has made it a popular option among both franchisees and consumers and whether it is a good route for yourself.
Here is a quick rundown of why it seems to be everywhere.
It is more affordable.
The cost of entry for mobile franchises is lower than if you get a single storefront location because there are fewer initial expenses that you need to invest in. While the costs for this type of franchise are arguably more affordable, they are also expandable. That means that if you eventually want to add more vehicles into your fleet or you want to set up a set physical space, you can simply add to the existing investment that you have.
It removes location limitations.
One of the core points about being mobile is that you are not limited to one area alone. You can set up a route that is beneficial to you and end up catering to clients in different locations. That not only removes the issue of distance from possible consumers but also works as a built-in form of marketing. It helps prevent stagnation of foot traffic since you dictate where to focus your business.
It appeals to consumer convenience.
Market statistics across the board show that one of the most important factors for consumers nowadays is convenience. It can dictate sales even more than branding and actual quality of service because 83% of consumers note that convenience is their top priority when considering their purchasing habits. Majority of consumers polled also revealed that many of the transactions they backed out were due to its inconvenience for them. With a mobile franchise, you go to the customer and cater to their needs at their ease.
It provides flexibility.
It may be your mode of operations, marketing tactics, or the specific audience you are trying to target. There is more leeway for you to hone in on these different factors since you are mobile and are working with an arguably smaller investment that can use some strategic risks. The more flexible you are, the more you can find the groove that sets the pace for your franchise and starts building consumer loyalty.
It already retains credibility.
Being mobile is a great way to spread word of mouth organically if you provide excellent services. However, the benefit of choosing a franchise is making use of an established brand that has built up brand retention and reliability within a targeted consumer base that you will likely need to tap. This way, franchisees get to hit the streets and don’t need to start from scratch, proving they are worth the money to brand new prospects in different locations.
These reasons have led to the steady increase of franchises in the United States, reaching almost 800,000 by early 2020. Among these, thousands have mobile businesses alone, and others combine a mobile fleet with brick-and-mortar to maximize their investment.