- Increased internet use: The number of individuals surfing the net, worldwide, is projected to reach 4.9 billion by 2025. That is roughly 60% of the global population. This means that more people are going online to shop, search for information, and connect with others, creating a vast market favoring franchise businesses making the best use of advancing technologies.
- Growing e-commerce market: The e-commerce market was projected to approximate $5 trillion in 2021 - a significant milestone -, and growth is expected to continue beyond 2030. Online and tech franchises that optimize their e-commerce offerings can tap into this market and benefit from the increased demand.
- Rising mobile usage: The number of mobile phone users worldwide is projected to reach 7.33 billion by 2023, and the majority of internet users access the web via mobile devices. Online and tech franchises that best embrace a “mobile-first” user experience can reach a wider audience, capitalizing on this trend.
- Advancements in technology: The rapid advancements in technology are creating new opportunities for online and tech franchises. For example, franchises in the AI industry can offer new services such as chatbot development, and those in the VR industry can offer immersive experiences.
- Flexibility and scalability: Online and tech franchises can be run from anywhere and can easily scale to meet demand. This makes them more flexible and adaptable than traditional brick-and-mortar franchises, which can be limited by location and physical resources. And reach, online, is greater than it would be locally.
Is now the right time for you to capitalize on this growth? Yes. Every day, the world is becoming more dependent upon technology. By understanding and identifying the unique advantages of online and tech franchises, business owners can get ahead of the curve and set themselves up for success long into the future. Here are some tech/online franchises that you may be interested in: