As we step into 2021, the world of business is looking for new ideas to start online businesses and expand their digital game this year. So, let’s take a look at some of the top niches that we have compiled in the best franchise opportunities category for entrepreneurs this upcoming year.
- Online Education Courses
After the COVID-19 breakout, the demand for online education classes and distant learning has seen an exponential rise. Ever since the government has imposed the lockdown rules and regulations, the digital domain has grabbed eyeballs as a massive audience awaits its trail. Looking at the number of online users daily, the online education courses and training programs are an excellent niche as it promises a flourishing kick-start for franchises to meet the need of the hour.
Starting with a cost-effective upfront investment, having the backing of a strong reputation, and a high-growth potential customer base is the key to success in the franchise business. According to a survey, the global learning market size is estimated to reach US$325 billion in the subsequent five years. Building a valuable and long term based online course or program facilitates a learning platform that will help students explore their true potential.
- The Craze of Audiobooks
Living in this fast-paced world, routines are constantly jam-packed with tasks and daily chores that seem never-ending. For readers, this often leads to finding little to no time to sit down and read; hence the concept of audiobooks has become popular in the last decade. Listening to books while commuting or doing some monotonous activities helps people save time and also enjoy the process of their everyday jobs. Hence, audiobooks as a niche will perform exceeding well for franchisors as this falls in every reader’s go-to list. Also, e-books have a separate user base, which prefers digital reading over books, the stats show that 335.7 million e-books were sold in the United States last year. While Kindle dominates this space, many startups create resourceful online content dealing in the fiction and nonfiction category and are doing good in this e-commerce niche.
- The All-Natural Beauty Industry
The words organic, vegan, cruelty-free, and environment-friendly rank high up on the search engine of Google keywords as there is a huge customer base looking for it. The beauty niche is one of the most famous and fastest-growing industries online with an expected rate of US$55 billion in sales growth in the approaching year. Hence, the all-natural beauty niche is profitable if the demand of the customers is fulfilled with a myriad range of organic products which include makeup, hair care, nail care, fragrance, and personal grooming.
- Hi-Tech Home Products
The COVID-19 storm has hit hard with everyone obliged to be at home. Hence, living and working from home now needs to be more comfortable than ever and this is given rise to purchasing hi-tech home products, which makes every day a hassle-free experience. Be it the lounge-chair, flexible mattresses, smart cleaning equipment, sanitization units, or new technology-enabled products, the customers are ready to invest. This home market is expected to reach $246 billion in the next decade making it an ideal choice for the franchise business.
- Buying Grocery Online
Ordering groceries online and getting them delivered to your doorstep become a huge hit in the quarantine season. The local business market made thousands of dollars as everything was made available at the comfort of one’s home. According to the statistics based on supermarket sales in 2020, 52% of individuals purchased groceries online and have also decided to continue buying them in 2021. So, this e-commerce business niche will be a win-win situation across the globe.
These are a few of the top franchise niches that look promising and if leveraged properly can become a lucrative business model for 2021.