Franchising and the future of work
30th Mar 2024
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By Emily Ainsworth
The world of work is experiencing a major transformation. Hybrid work arrangements are becoming increasingly common (just ask Seek!), and the gig economy is fast disrupting traditional employment models. These trends are impacting all industries, and franchising is no exception.
But here's the good news: the franchise model itself is inherently adaptable. Franchise businesses are known for their established systems, operational efficiencies and brand recognition – all valuable assets in a changing landscape. So how is franchising evolving to accommodate the future of work?
Read on to find out…
Embracing remote work
Thanks to COVID-19, most businesses across Australia have embraced flexible work arrangements. Fast forward to 2024, the franchise sector is also adopting new models to cater to entrepreneurs seeking greater work-life balance.
One such example is the rise of home-based franchises, which allow franchisees to operate from the comfort of their homes. Industries such as consulting, coaching and online services have proven particularly well-suited for this model, enabling franchisees to leverage technology and virtual tools to serve their customers without the need for a physical storefront.
Additionally, some franchisors are offering semi-absentee or executive franchising opportunities, where franchisees can oversee operations remotely while relying on a team of trained staff to handle day-to-day tasks. Online training modules, communication platforms and performance-tracking tools are examples of remote support. This approach appeals to investors seeking a more hands-off role or those looking to build a portfolio of franchises.
The gig economy
Characterised by short-term contracts and freelance work, the emerging gig economy has disrupted traditional employment models. Franchising is not immune to this trend, with franchisors exploring ways to tap into the growing pool of gig workers.
One approach is the development of franchise models that incorporate gig workers into their operations. For instance, some food franchises are partnering with third-party delivery services, allowing them to leverage a flexible workforce for their delivery needs without the overhead costs of maintaining a dedicated delivery staff.
Similarly, home services franchises, such as cleaning and maintenance companies, are increasingly turning to gig workers to supplement their core workforce during periods of peak demand or to offer specialised services.
The rise of tech
Technology and automation are also shaping the future of franchising in Australia. Franchisors are investing in digital tools and platforms to streamline operations, enhance customer experiences and improve efficiency.
For example, some restaurant franchises have implemented self-service kiosks and mobile ordering systems, reducing the need for front-of-house staff while catering to the preferences of tech-savvy customers.
Additionally, franchisors are exploring the integration of robotic technologies and artificial intelligence (AI) to automate routine tasks, such as inventory management and customer service.
As the future of work continues to evolve, franchising in Australia is poised to adapt and capitalise on these changes. By embracing remote work models, leveraging the gig economy, and integrating cutting-edge technologies, franchisors and franchisees alike can position themselves for success in this ever-evolving environment.
Choose Franchise’s top 3 benefits of franchising in the new work world.
- Reduced overhead costs: Remote work arrangements and a flexible workforce can lead to lower overhead costs for franchisees, such as office space rentals.
- Wider talent pool: By embracing remote work, franchises can tap into a broader talent pool that's not restricted by geographical location.
- Work-life balance appeal: Offering remote work options and flexible schedules can attract potential franchisees seeking a better work-life balance.
Interested in learning more about franchise opportunities that cater to the future of work? Explore available franchises on Choose Franchise and find your perfect fit!
