Start the Preliminary
Are you ready to start your own business, but you’re not sure where to start or what industry would be best for you? If you’re paying attention to franchising business trends in 2023, you know how important it is to pick a growing industry where you can find your passion. Here are six trends you don’t want to miss out on this year.
Have a Solid Mission and Goals
One of the most important business trends in 2023 is having a mission and goals. Working without a goal in mind can create a lot of challenges and leave your business stagnant. Goals promote growth and encourage you to keep moving forward.
- Why did you start your franchise?
- What do you hope to achieve personally?
- What do you want to achieve as a business in 2023?
- What are the core values of your business?
Filling the Workforce
In today’s world, more and more people are resigning or embracing quiet quitting. These individuals are usually part of the younger side of the workforce and want more out of their job than a way to make money. They want their work to mean something so they look forward to going to work. They want to be passionate about their careers and feel like it’s worth the time a job takes away from their personal lives.
The question you should be wondering is: what can I, as a franchise owner, do about quiet quitting? The answer is simple. For business trends in 2023 that will make you more attractive to potential workers, look for ways that make your business stand out, promote professional engagement, and generate passion. Have a mission and set of values they can identify with on a personal level, and offer hours or benefits that recognize the importance of balancing home and work life.
Market Your Franchise
Technology as a franchising trend becomes more important every year. Gone are the days when people pull out a phone book or newspaper to find a service that fits their needs. Today, most of us go to social media to ask for recommendations or search online to locate nearby services.
With something as personal as in-home care, most of us aren’t comfortable entrusting ourselves or our loved ones to just anyone. Clients have more opportunities than ever to research first so they can make informed decisions. They will feel more comfortable working with you if you have reviews online or someone they know has personally recommended your services.
Provide Unique Services
In addition to marketing, there are plenty of digital apps to give yourself an edge. Tech business trends in 2023 give you the power to communicate with clients faster and easier. Streamline updates to families, confirm what services were completed and when, send reminders for the days and times you’ll be there, or keep track of a patient’s vitals. These services may seem simple, but they can make a big difference for your patients and their families.
Aging at Home
In 2022, the University of Michigan found that 88% of adults between the ages of 50-80 want to continue living in their own homes for as long as possible. Now, consider the population of the aging Baby Boomer generation. By 2034, the U.S. Census Bureau predicts there will be more older adults than children 18 and under.
That is a lot of people who are going to require senior care, with most of them preferring the opportunity to stay home rather than living out their elderly years elsewhere. In terms of 2023 business trends, this is one industry that will continue to grow while allowing you to make a positive impact on yourself and your community.
Coping With Inflation
As much as we all wish it would, inflation does not seem to be going away any time soon. Raising your prices the same amount of inflation is one solution, but senior patients often have fixed incomes and may not be able to afford your services if the cost increases too much too fast. 2023 business trends focus on ways to combat rising overhead expenses in a way that reduces the impact for both you and your clients.
If you have always dreamed of owning your own business but the economic effects of inflation worry you, owning a franchise may be the answer you’re looking for. Jumping on franchising trends that are part of a growing industry often means more financing opportunities are available for you to get started. You also gain staffing support, and 1Heart ensures you stay up to date on the latest laws and regulations that impact you.
Are you ready to become your own boss and make a difference in your community? Contact 1Heart today to learn how a franchise opportunity can transform your life.