Is the Pandemic a Good Time to Launch a Business or Invest in a Franchise?

Written by Alan Goldberg

It just might be!

Previous financial crises have given rise to many new high-profile companies; Airbnb, Disney, General Motors, Hewlett-Packard, Microsoft, Slack, Uber, and Venmo, to name a few.

During the current pandemic, new business formation has continued, albeit, at a significantly slower pace than before. Downturns often act as a catalyst for new business launches. Change, whether it be positive or negative, stirs up new customer needs, the core of every business.

The Coronavirus has prompted many entrepreneurs to jump in and meet changing consumer demand. In addition, in this market, there has been substantially less competition for key resources like financing, real estate, and labor resulting in unusually low rates and highly "flexible" terms. 

You probably wouldn’t want to be starting a business right now that caters to business travelers. But, a business that focuses on tele-medicine could be pretty exciting.

Click here to learn more.

Image by Elena Borisova from Pixabay


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