FranchiseInsights.com sends out a survey every month, where the objective is to poll the general public on trends happening within the entrepreneurial community. Their May 2021 survey has found that the general consensus around the way people view a new business opportunity is trending upwards, which is a comforting sign to aspiring entrepreneurs everywhere.
As you can see by the chart below, 30.1% of people strongly agree that it is a good time to start a business, regardless of the industry, whereas 36.9% of people agree that it is a good time to start a business. This is a great increase and upward trend during the first few months of 2021. This shows a 6.6% increase compared to this time last year and a 10.1% increase since the end of 2020. This upward trend is certainly a sight for sore eyes!
Additionally, there seems to be a general feeling of confidence that the next few months will bring greater opportunities and a positive environment for a new business. The audience surveyed also stated that they feel it will trend upwards and it will stay that way for the foreseeable future, giving them a sense of hope for new businesses in the future.
“Entrepreneurs remain optimistic about business conditions in the coming months, correlating with their time frames for starting or buying their businesses. Over 51% of respondents believe that in three months, conditions will be “better or much better” than now.”
To read the full report, please click here.
So, what exactly does this report mean?
Well, it means a few things. In terms of investments and new business ventures, it means that you may be better off investing in ones that take a few months to get set up, as opposed to businesses that are quickly thrown together.
Here at F45 Training we have always prided ourselves on walking our potential franchisees through the steps thoroughly from start to finish to set them up to be as successful as they can possibly be. We take the time to ensure this opportunity is the right one for them and then give them the tools they need over the next few months to open a studio that they are proud of and that serves the community (and industry) well.
These results also mean that people are not only starting to get back into investing but over the next several months, the market will likely be saturated with eager entrepreneurs ready to take on new projects!
While this is an exciting thing to hear, it also means that the time to act is now. At F45, we encourage people to jump on the opportunity as soon as they are sure it is the right one for them, as we would hate to see them miss out on a territory, a great real estate option or experience what we commonly refer to as ‘investment FOMO.’
Bottom line: now is the time to get ahead of the crowd to capitalize on this opportunity before we see a new wave of business owners looking for their new adventure in 2021! We encourage you to be a part of the leaders rather than the followers and have F45 help you along the way.
Ready to invest in the fitness industry and become a part of the F45 family? Let’s chat. Reach out to us today!