What Computer Franchises Should Entrepreneurs Buy?
Computer franchises are gaining in popularity, and for good reason. Here’s a question for you:
How many people without a computer, laptop, or tablet do you know?
Not many, right?
In the USA alone, there are more than 300 million internet users. Worldwide, it is forecast that by 2030, 7.5 billion people will own a computer or have access to one (including laptops and tablets).
Since the invention of the very first ‘computer’ (the abacus), businesses have been built around technology. Today, information technology ─ a term that was only first heard in the late 1950s – is a part of our daily lives, and thriving industry is based upon it.
The world may have changed because of Covid, but one thing is certain: the tech industry is growing fast. This is reflected in IT jobs, which the Bureau of Labor Statistics expects to grow by 13% between 2020 and 2030. It’s also reflected in the popularity of computer franchises.
Why is the computer franchise business so popular today?
There are many benefits of owning a computer franchise business, including:
A franchise generally costs less than starting a new business from scratch
You can take advantage of the training and support provided by the franchisor
You leverage off the reputation and brand recognition of the franchise
Your business operates within a tried-and-tested business model, with greater success ratios
More computer owners and more people working from home are energizing the computer franchise sector. If you have a passion for IT and computers, and the desire to be your own boss and build a successful business, a computer franchise business could be ideal.
The question is, which type of computer franchise should you own?
5 types of computer franchises for sale
Whatever your experience and expertise in IT, there is a computer franchise for you. We’ve identified five key subsectors of the industry that are hot now, and are likely to remain high-growth in the future.
Computer store franchises
Do you like to be customer-facing, working in a fixed location, and desire the opportunity to expand into related products and services? Could owning and operating a computer store be an excellent choice for you?
In 2022, the retail market for laptop computers alone is valued at $96 billion and has been growing at an average of more than 11% for five years. Companies and individuals will continue to invest in IT, and this means there are some stunning opportunities in the computer retail sector with high growth potential.
Tech cleaning and maintenance franchises
Poorly maintained computers break down. That’s a fact. It’s why so many businesses hire expertise in cleaning and maintenance. Contracts could be daily, weekly, or at other specific time periods. The potential for long-term repeat business is huge. This could be an ideal computer franchise for those who enjoy working in varied environments as well as those with the business acumen to manage teams with specific quantity and quality targets.
IT security franchises
Cyberattacks are on the increase. Businesses and individuals are lucrative targets for cybercriminals. Our use of the internet and cloud computing are the doors through which they enter our world. IT security businesses are in high demand, and highly profitable. Your job is to protect computer owners against cyberattacks, providing services and products to help them boost their IT security and meet their regulatory requirements.
Data preservation and recovery franchises
What happens when even the best-of-breed IT security is breached? Or a computer stops working?
We rely on the data we hold. If we lose it, we lose out. Businesses cannot afford to lose customer data or other essential business information. And we all know that sense of panic when our cellphone dies.
A data recovery business fixes and recovers data from machines that have stopped responding. For many businesses and individuals, they provide a crucial service. And as for the profit potential ─ how much is a person’s or business’s data worth?
Hardware repair franchises
Are you entrepreneurial? Do you want to invest in a profitable business opportunity? Are you interested in computers?
Especially as the cost of living crisis bites, computer repair services are likely to be in increasing demand: repairing instead of replacing. And if you don’t have the technical expertise to repair computer hardware, you could invest and hire people who do this work while you manage other aspects of your business, like HR, marketing, and financials.
How do you know if any of these is a good choice for you?
Okay, to the practical details. You want to start a business in the IT industry, and a computer franchise sounds attractive. But are any of the above computer franchise businesses a good option for you?
Our experience in helping entrepreneurial professionals choose the best franchise for them tells us there are three key questions you must answer:
What is your level of knowledge?
When looking for a franchise opportunity, it is important to know what you are capable of. This will help you narrow down your search and find the right opportunity. To begin with, it is important to understand the level of knowledge you possess and ensure that you are prepared for any challenges ahead.
How much support will you need?
Franchises offer a lot of support and guidance to help you get started. However, some franchises provide more support than others. It’s important to know what kind of support you’ll need before deciding if a franchise opportunity is right for you.
Does the business model match your goals?
One of the most crucial factors to consider is your own personal goals. You’ll need to be aware of the time commitment involved, and ensure that the business model is acceptable to you. A good fit for you is one that matches your skill set, interests, and lifestyle, and that will help you achieve your personal and professional objectives.
The bottom line?
Before buying a franchise, make sure it’s something you’re passionate about. If you choose a franchise that isn’t aligned with your interests, skillset, and goals, it will be difficult to grow successfully and profitably over time ─ whatever the services and products it provides.
Take our franchise aptitude test today. It’s the first step to success as a franchisee.