On December 25, the China Franchise Exhibition and the Mengxiangplus online franchise platform jointly released the "2023 Franchise Investment Crowd Insight Report", which shows that the enthusiasm of the franchise market in 2023 is high, and the number of registered franchise investment users of the China Franchise Exhibition and the Mengxiangplus platform has increased significantly compared with 2022. The report has statistically investigated more than 75,000 pieces of franchise investor data from January 2022 to October 2023, and analyzed the characteristics and behaviors of franchised investors in 2023 from the dimensions of group changes and trends, motivational needs and decision-making factors, as well as different generations, different city levels, and different investment amounts.
First of all, the change of the main group of franchises, compared with 2022, although the post-80s and post-90s are still the main force of franchise investment, the proportion of the post-00s group has surged, with a growth rate of 37368%, while the post-80s group is declining significantly, which means that the franchise group is migrating to Generation Z.
From the perspective of the amount of intended investment, the small investment of less than 200,000 yuan has increased significantly, indicating that in terms of capital investment, the attitude of the franchise investor group in 2023 tends to be cautious or tends to be more flexible and controllable small store franchise investment strategy.
Among the cities that plan to invest, the investment enthusiasm of first-tier cities and new first-tier cities is warming. Beijing, Shanghai, Hangzhou, Suzhou, Shenzhen, Guangzhou, Nanjing, Zhengzhou, Tianjin, and Shijiazhuang are popular cities this year.
From the perspective of the investment industries that franchise investors tend to, the report data shows that in 2023, the franchise investment in catering will increase significantly, and the popularity of small investment categories such as specialty snacks and drinks and desserts will pick upThe intention of the maternal and child services and food and health products industries has also increased.
When this focus industry is refined to different levels of investment groups, the characteristics reflected are that small investment groups with less than 100,000 yuan pay attention to more popular industry categories, while large franchise investors with more than 1 million will pay more attention to Western-style catering, hotel chains, leisure and entertainment, beauty and other industries with middle-class lifestyle attributes. But regardless of the magnitude, there is a general expectation that new industries will emerge.
According to the survey results, the main motivation of the franchise investment crowd in 2023 is to expand the side business by joining the store to increase the existing wealth, which is as high as 40%, which also echoes the continuous high wave of franchise store opening this year.
However, among different age groups, the motivation to join shows a large difference, as a side business is more post, while the emerging post-00 franchise investors are using entrepreneurship instead of employment, opening stores as a livelihood**. In the post-70s and post-60s, opening a store has also become one of the important choices for them to satisfy their interests and dreams or enrich their lives.
For the most important step before joining, the decision-making factors that determine whether to join or not, according to the data statistics of China Franchise Exhibition and Mengxiangjia, in 2023, the factors considered by franchise investors before joining will become more and more balanced, although the profit model, return cycle, and industry development prospects are still the top 3 factors affecting decision-making, but the product research and development capabilities of the headquarters, the support provided, the construction of the first chain of the headquarters, the training system, the digital level, the total number of stores, and the protection of intellectual property rights have received more attention. In particular, the marketing ability of the headquarters has entered the top 5 considerations, indicating that brand marketing is becoming more and more important in the current fierce consumer competition.
In terms of the way to obtain franchise information, it can be seen that in 2023, the visible and tangible methods such as exhibitions and brand offline stores will still be the most important way for franchise investors to obtain franchise information. But at the same time, the influence of word-of-mouth recommendations on social platforms such as Douyin, Xiaohongshu, and Kuaishou, as well as family or friends, is also increasing.
From this "Insight Report on Franchise Investment Crowds", it can be seen that the franchise investment groups are becoming more mature and rational, and they are open and actively embracing the franchise model, while also knowing how to choose carefully and operate reasonably. At the same time, according to the data of the Ministry of Commerce, as of July 2023, the number of commercial franchise enterprises registered in the country has reached 9,955, an increase of nearly 2 times in 7 years, and China has become the most dynamic franchise market in the world. In the future, franchising will further play a beneficial role in driving employment and stimulating consumption.
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*: Volkswagen.com.