Owning a franchise gives you the opportunity to own & run your own business with the training, support, marketing and trusted branding of a company that’s already been established and has a successful track record.
Many forecasters predict an economic recession in the not-so-distant future. While owning your own business can be the pivotal career step you’ve been waiting for, choosing the right business-to-business (B2B) recession resistant franchise is important to making the right investment.
Here’s what you should look for when it comes to finding that business, and how the commercial security industry can provide a recession resistant opportunity for long-term success.
Your Services Need to Be a “Must” Rather Than a Luxury
When an economic recession hits or is forecast in the near future, businesses and individuals alike often are first to cut back on or cancel services or subscriptions they don’t really need. When choosing a franchise business, your services need to be a “must” for companies rather than a “want”.
Security is absolutely a need for the majority of businesses today, with integrated surveillance and access control systems dominating the market . Business owners want a way to comprehensively access and control their security solutions, and cannot do without professional security systems to protect their employees, facilities and their assets.
Commercial electronic security can withstand recessions and even allow you to prosper during recessions, as professional grade security is a necessary expense.
Choose a Franchise Business That Provides Ongoing Service and Support
While many organizations have security systems implemented, few of them have the in-house expertise to maintain and support them. A commercial security franchise gives companies the ongoing service, support and technology upgrades they need to keep their systems working as they should.
Security systems have continuous needs for both on-site and remote support, software upgrades, and expansion . When you’re a business that provides these services, there’s no shortage of companies that need your help to leverage the full power and benefits of their security solutions for continued protection.
Look for Recurring Revenue Opportunities
Having recurring revenue opportunities is a must for people looking for a B2B recession resistant franchise. Fortunately, commercial security provides a way for business owners to do this with cloud storage solutions.
Cloud storage provides businesses a way to store a large volume of surveillance footage and access control data without the need for having such storage on-site, which is especially useful for people who have cameras in remote locations and for vendors who provide cloud solutions .
You’ll have the opportunity to bill your customers by how much cloud storage they use, providing you with opportunities for recurring revenue. Wireless security cameras increasingly utilize cloud storage, and how you charge for cloud services will be up to you, whether you charge a monthly or yearly fee, or fees to access and download older footage.
Consider an Industry with Strong Forecast Growth
You need to know that your choice of franchise has its best chance for future growth and opportunity, even if a recession hits. The commercial security industry has experienced immense growth and is projected to continue to grow in the coming years.
The electronic security systems installation market in the United States alone hit over $114 billion in 2018 . These numbers are projected for strong continued growth: the demand is expected to rise by 8.2 percent annually .
More businesses are realizing not just the value but the need to have a reliable security system in place to reduce their liability, prevent employee theft, gain compliance, and keep their premises safe and monitored at all times.
Should You Start a Commercial Security Franchise?
If you’re considering opening a franchise, consider that commercial security is a recession resistant business. Commercial electronic security professionals provide services that are a must for business owners, including ongoing maintenance and support, and they have recurring revenue opportunities with strong projected growth.
Is it time to consider opening a commercial security franchise? Get in touch with us today at (877) 405-4997 to learn more about our opportunities for smart prospective business owners just like you!