Franchises are growing in Romania: 7 verticals with business opportunities in 2021
Romanian entrepreneurs are more interested in franchising their own business models in 2021 compared to last year, as the contraction of some sectors has forced companies to look to new markets and test new partnership models.
The interest of entrepreneurs in franchising their business is very high, which is why Franchwise, a franchise consulting company, announces that it has more than 12 franchise projects in the preparation phase and that it will be launched within 3 -6 next months.
“In the context of the pandemic, entrepreneurs have had more time to look at their own businesses, breathe a sigh of relief and make strategic decisions to improve, optimize and process business models. Entrepreneurs believe that now is an ideal context to prepare for the next cycle of growth and to have the tools to propel them when the trend of economic progress picks up, ”said Paul Voicu, Managing Partner of Franchwise, a consultancy firm. in the field of franchising. .
Franchise specialists thus see a growing appetite on the part of entrepreneurs to franchise their own business. They also estimate that more new franchise models will be launched in the Romanian market in 2021. In addition, investor confidence in franchises will recover faster than the economy, driven by the desire to rebuild and grow their businesses. at the higher level, but also by the new sources of financing available to entrepreneurs.
The most important business areas with franchise potential in the context of the pandemic are services, construction, home and decoration, specialized trade and certain sectors of HoReCa.
Franchises 2021 – Areas of activity with growth potential
- Beauty – entrepreneurs who have focused on customer safety and in particular in premium areas
- Professional cleaning services, like niche cleaners (shoe cleaners, for example)
- Car details (premium services for car enthusiasts)
- Children’s education – an area affected by school closures but which will be strongly relaunched in 2021
- Construction and house & decoration area – specialized services, such as topography, retail sale of insulated windows or roofs and other construction materials, including architectural offices
- Specialized trade – niche areas: craft beer and phone accessories
- Horeca – certain business models adapted to the pandemic context – Togo, delivery, where the product is the star and less the experience of the place (for example, pasta bar and bubble waffles).
The current context of crisis is bringing the business environment to a new starting line, so now is the time to reset, after a period of several years of growth in the franchise market which has led to the development of several new business models. “When your business is constantly growing, it’s quite difficult to be critical and have a sophisticated approach. Before the crisis, the train was on and it was difficult to make improvements. Now, due to the pandemic, we have stopped and we can do the general overhaul, ”says Paul Voicu.
In addition, according to Franchwise, there is a growing interest in the internationalization of Romanian companies through franchising, but in this area, too, serious training is required before expanding. At the same time, new business projects launched before the pandemic, even if they were on hold for a while, have resumed and are being finalized.
The main needs of entrepreneurs who wish to franchise a business are the need to develop the business, create partnerships and benefit from specialist advice.
Franchise Business Development 2021
Entrepreneurs are creators, they want to develop and grow. The pandemic has forced many to suppress this spirit, even though, according to experts, there is a greater need to reinvent yourself than ever. Thus, through the franchise process, the creative energy of the entrepreneurs can be brought into play and give a constructive direction and sense of development in a process perfected during the 8 years of specialized consulting activity in the field of franchise.
Additionally, for shrinking businesses, franchising can be a new engine of growth under conditions of relatively low risk, and now, in the context of the Covid-19 crisis, now is the right time to invest in the development of commercial infrastructure.
Be part of a helping community
Many founders realize during this time how important it is to be part of a community of entrepreneurs who share the same concerns and the same motivation to achieve results. Many entrepreneurs have proven that they can be successful, but alone, and now they see a challenge to open up and take it to the next level through partners. Franchising is like a mirror that highlights the imperfections in your business. The advantage is that entrepreneurs can import expertise in this rather niche field and thus limit their own mistakes a bit – which costs money and time.
Franchwise, a franchise consulting company in Romania, supports entrepreneurs in building collaborative businesses with accelerated growth. Franchwise is a member of Franchise Pool International, a network of international consultants and brokers (25 consultants covering more than 45 territories).