Looking to Change Careers? Why Now is the Perfect Time to Invest in a Franchise
We’ve entered the second month of 2022 and if you’ve chosen this year to make big changes in your life, there’s still plenty of time to put a plan in place and get started. We now know the full extent of the career-bending Great Resignation. According to the Bureau of Labor Statistics, just under 70 million Americans turned in their notice in 2021. More than half quit voluntarily, chosen of their own volition. It’s likely that a great deal of these employees were simply looking to find a better position within the field of their current careers. But if you’re looking to make a change – as many of these employees did, now just might be the perfect time to invest in a franchise.
Let’s Review a Few of the Reasons Why…
A Booming Economy
The latest tallies and figures coming from governmental sources show just how strong the U.S. economy performed in 2021, and why it’s expected to continue this year. Full disclosure – we’re well aware that to present a balanced view of the current situation, we should also be wary of the rising inflation rate, which is at the highest level in decades. Even still, in 2021 the U.S. economy grew at a rate of 5.7%, the highest increase since 1984! The Fed has already announced interest rate hikes are pending, but the International Monetary Fund has pegged our predicted growth in 2022 at 4% — outpacing the average of the last decade.
Employment Figures
The December jobs report reveals that the U.S. has recovered 19 million of the 22 million lost at the outset of the pandemic – a remarkable statistic by any measure. The unemployment rate has plunged from 14.7% in 2020 to its current level of 3.9%, a historic low.
Pent-Up Demand
As the Omicron variant continues to recede, the pandemic appears to be waning. Mask mandates are being eliminated and the constraints on businesses continue to fall by the wayside – opening up the full capacity of our commerce and industry. There’s a lot of pent-up demand to increase discretionary income spending, as consumer confidence continues to soar.
Access to Capital
Financial experts across a wide range of industries have predicted a robust year for consumer lending, the key to accessing capital for small business establishment and growth. Growth in applications and approvals is expected to rise in every category, save for home lending – currently static due to the low level of buying and selling in a market with tight inventory. Potential franchise owners should feel confident in the quest for financing, with multiple options and paths available to access the capital needed to get the ball rolling.
The outlook for 2022 appears to be quite fertile ground for the entrepreneur minded. But perhaps the best update for all where Any Lab Test Now is concerned is the continued rise in healthcare consumerism. The option to empower yourself with freedom of choice in healthcare decision-making has kept our franchise offering at the forefront of consideration. According to a recent article in Fierce Healthcare, an outlet dedicated to trending industry news, healthcare institutions and providers are advised to adapt – and quickly. Here’s the closing paragraph:
“From digital reimbursements and telehealth accessibility to banking technology solutions that scale and grow as they do; organizations must understand that consumerism of healthcare is no longer just an aspirational expectation of tomorrow–it is here today.”
Any Lab Test Now franchises are well positioned to capture an increased share of retail-based revenue at the expense of these major healthcare providers. With our business model focused on the customer experience, our brand is leading the market for retail-based lab testing. If you’ve got an entrepreneurial mindset and a desire to partner with the nation’s No. 1 retail lab testing franchise, reach out to the Any Lab Test Now franchise development team to review our business model. Simply fill out this brief form and our reps will be in touch shortly.
