bannerPlayFranchisor Stories

Amazon Joins Long List of Tech Companies Laying Off Employees, Opening Up More Opportunities for Franchisors and Franchisees

With nearly 25,000 tech employees laid off just this month, franchisors in recession-resistant industries can potentially appeal to a growing pool of prospective franchisees who are looking for more stability in their careers.

Over the past few weeks, the tech space has seen a massive influx of layoffs, ending its more than two-decade-long reign as one of the most booming industries in the world. More than 24,000 tech workers across 72 companies have been laid off this month, adding to a total of 120,000 tech jobs lost this year. This includes companies like MetaZillowTwitter and, most recently, Amazon, which announced plans to lay off some 10,000 employees in corporate and technology jobs. Now, franchisors have a unique opportunity to appeal to these former corporate America employees by outlining the advantages of another path: franchising. 

“For franchisors out there, this is your opportunity to position your business in front of folks that could align with who you're looking for from a persona standpoint,” said 1851 Franchise Publisher Nick Powills. “You have a giant pool of human beings who are now going to be searching for their next opportunity, and for franchise brands, this is a chance to get in front of those audiences and explain why you, why now? Look at the list of layoffs, target those prospects with digital marketing and give them a reason why now is the time to get into franchising.”

While this may be a difficult time for those who were laid off, it can also be a doorway to the fruitful journey of entrepreneurship. Franchising is a tried-and-true model designed to take some of the risk out of business ownership. And especially with the looming recession, recently laid-off tech workers will likely be looking for ways to take control of their own destiny, build future equity and enjoy more stability.

That is why franchisors within recession-resistant industries, such as home servicesearly education and senior care, are set for major growth. Now is the time to not only advertise the strength of the franchise business model, but also the support infrastructure that is in place to ensure that these prospects — many of whom may be first-time business owners — have the tools they need to succeed.

Related articles: