According to the University of Texas at El Paso’s Borderplex Business Barometer, El Paso’s economy will see an uptick in the second half of 2021. The January report noted several factors influencing the change. As vaccines for COVID-19 make their way into the Borderplex population, El Paso residents can expect to see more jobs open up, increased travel, and increased commerce. Finally, some good news! There are a lot of ways to take advantage of El Paso’s recovering economy, and one of them is through a business opportunity. New businesses that begin at the start of a recovery period have several advantages.
There are lots of people ready to work for you. The COVID-19 pandemic has forced many people out of their jobs. There are bright, capable, people ready and willing to work for a solid employer like your company. You’ll have a pool of qualified applicants ready to give their best effort, and studies show higher loyalty in employees brought on at the end of a recession. Your belief in your people and the opportunity you provide in a time that is really important will hold your team together as you build a solid reputation.
Mortgage rates have fallen to an all-time low. According to Freddie Mac’s government-sponsored survey in January, the average rate for a 30 year home mortgage was just 2.65 percent, down .99 percentage points from the prior year. While low mortgage rates do indicate market uncertainty, people interested in starting their own business have an option to use for their jumping-off point. Prospective business owners can refinance their homes to lower their monthly payments. With less money going to the monthly mortgage, a business owner can comfortably invest in the operating expenses and buy-ins associated with getting their business off the ground.
Ecommerce is up 40%. People that never used the internet very much have adapted over the COVID-19 pandemic and are now actively reading content and making purchases. The rest of web users are also online far more than ever before. The internet is a widely accepted and essential resource for people looking to solve a need. Jani-King’s superior brand reputation and search engine dominance can give new franchise owners a leg up when it comes to reaching this hungry audience. New business owners of all walks will be able to use internet business building tactics with higher results, but Jani-King franchise owners can expect to appear in top search results for the cleaning and disinfecting services they provide.
Your business can grow strategically. You might not see this as an advantage, but starting a business at the very beginning of economic recovery gives a new business owner the time needed to grow at a smart pace. Just like past recessions, this one will not rebound overnight. It’s slow at first. A business owner that opens shop right now, within that gradual uptick, can practice providing the best service to new clients and get good at handling leadership responsibilities. That initial slow time can provide a strong foundation for the business. As job rates increase and trade picks up, the business is prepared to make the most of each opportunity the recovery period brings. They’ll make fewer mistakes and have a greater sense of control. This will be a new experience for so many businesses. They may have to scramble and develop policies for scenarios they never expected. You’ll enter the marketplace with these policies intact. Jani-King has the policies in place.
People want clean! Ok, this one is a bit one-sided, yet true as can be. The reality is, the cleaning and disinfection industry has never been more important. It saw fewer impacts during the economic recessions of 2000 and 2007, but the current recession has left the industry in not only better shape than most but also with a larger platform to grow business going forward. Businesses that operate in the years after the COVID-19 pandemic will look to experts to help them develop an airtight cleaning process. Cleaning and disinfection have become essential services that are on everybody’s mind. Having an extensive pool of potential clients and the backing of Jani-King’s large and reliable brand creates the perfect fusion for anyone interested in starting a Jani-King franchise in 2021.
2020 might have been a year of reflection for you, even if not by choice. In all that contemplation did you figure out that you’d be better off working in a business you own? If you want control of your own destiny, in a way that only business ownership provides, we invite you to research a Jani-King franchise opportunity.