Wow! 2021 is really here. I have been seeing lots of optimism this year because we were no longer in 2020. This year, there are many changes, including a new President, a horizon for the country to be vaccinated, acceleration of industry and economic trends, disrupated industries, and lots of uncertainty.
The good news is that the United States is vaccinating its population at a rate of 2-3 times the rate of Germany and France. By the middle of 2021, the United States is expected to achieve “herd immunity” against the Coronavirus.
Yes, last year was tough. Economists estimate that the economy shrunk by 6%.
However, 2021 is shaping up to be a year of growth by epic proportions. The International Monetary Fund forecasts US 2021 growth to be 5.5%! The Congressional Budget Office forecasts the U.S. will be back to 2019 GDP levels later this year. Tremendous!
I was young when the Cold War ended. I remember seeing images of East Germans tearing down the Berlin Wall. Imagine how much pent up demand there was from living in a socialist country for over 40 years. Although shorter, the Covid economic plunge will come back in a sharper V with regards to pent up demand in the U.S. where, according to Google smartphone density data, retail activity has been 25% below normal.
“I believe it’s true that the difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next.” – Michael Gerber, E-Myth Revisited
FEATURED CONCEPT OF THE MONTH
- Boutique fitness is poised for growth – pent up demand and less competition
- Great time to sign leases because landlords are offering incredible incentives
- Billion dollar boutique fitness player with excellent infrastructure
- Targeting a market of 60 million Americans who are runners
- Great time to hire great employees with passion for their industry
Call or email me to discuss. I’ll run through a few basic steps with you to make sure you’re a fit and do territory checks.
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David Busker is the Founder of FranchiseVision and a senior franchise consultant with FranChoice, the premier national network of franchise consultants. David helps candidates exploring franchise ownership to set their criteria and matches them with the perfect franchise, then supports and guides them through due diligence and franchise signing. You can learn more about David at www.franchisevision.com/about.
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