The Covid-19 pandemic has changed the way businesses operate in 2020 (potentially for the foreseeable future). Due to lockdowns and social distancing guidelines, many businesses have been forced to close and re-open, only to shut down again with the reintroduction of restrictions. Very few industries have managed to escape the effects of the continuing pandemic and almost all have had to quickly adapt their business model and strategies in order to survive.
As the future remains uncertain and as markets continue to rebound over the next few years, many entrepreneurs may be asking themselves whether an investment in a franchise is worth the financial risk.
However, in spite of the unpredictable nature of the economy, an online franchise may be a smart investment going into 2021. Out of all the different industries, an online franchise is perhaps the most suited to thriving in a post-Covid environment.
The majority of online companies have a model that is built for remote work and do not have to factor in social distancing as most of the business can be done at home - making them a lucrative option for investors.
Advantages of a Online Franchise:
Work from Anywhere:
One of the major attractions with an online business is that the company can be run from anywhere in the world. As the future of working from the office looks to radically shift over the next few years as a result of Covid-19, online franchises do not need to worry about adapting their operations and already have well-oiled processes in place to run smoothly over the internet.
For Smart PA, remote work has been their staple since the company’s inception according to founder Sarra Bejaoui;
‘For SmartPA, remote working is far from new. We have been helping our people to successfully work from home ever since we launched our virtual team in 2008. We deliver business support services to clients right across the world, 24/7, 52 weeks of the year.
And it is almost entirely provided through Partners based at home or at the office of their choosing - harnessing the power of the Internet. 12 years on from the arrival of our first SmartPA, everyone else is catching up to how simple it is to adopt remote working - and in turn, to profit from virtual services.
Our industry-leading training provides every tool required to become a successful virtual assistant, offering the freedom to be their own boss, work from anywhere in the world - all while receiving support from a world-class SmartPA team.
Reduced costs:
One of the biggest advantages of running an online franchise is the lack of rental costs for premises and office space. The money typically allocated for property can be directed into building and growing your business. While there are still the costs for online sites such as domain/website purchasing, marketing and paying staff wages, this expenditure amounts to significantly less than the costs of leasing physical office space.
Global Marketing Potential:
With an on business, you have the opportunity to expand your business on a global scale. With a strong marketing strategy and smart advertising, your business can reach customers across the world. Ad buys on various websites means that you can expose and promote your product and pitch to specific markets as you see fit. Target GoogleAds and the use keywords will increase the visibility of the business to users across the globe. The use of blog posts and social media posts will only enhance your reach online and enable you to connect to your customers quickly.
AtSmart PA, the instant connectivity of their business means that global marketing is done with ease;
The world may seem more disconnected than ever. But we are committed to bringing everyone efficiently together. Day and night, our people are helping clients through our flexible admin and back office support. And it means there are exciting opportunities available for new SmartPAs across the world.”
Even if a business is not yet ready to expand into a global market, many smaller internet franchises still find huge success in their targeted regions as they have created an attractive and appealing business idea that guarantees a good return on investment and a loyal customer base.
Technology:
Through the benefits of virtual solutions and applications, communications and conferencing can be undertaken with ease. In-person meetings can be replaced with Zoom or Skype calls, which saves time and allows for workers to attend from anywhere in the world. Through the use of Google Analytics, you will be able to monitor the success of your website and output in real-time.
Additionally, with a business that is run virtually, there is less reliance on paper waste or traditional office stationary, reducing the needs for big clean outs or recycling.
If you’re ready to take the leap into the online business market, browse our opportunities and begin your journey today.