Is 2024 the right time to move into the signage industry? Everything points to the answer being a resounding “YES”!
If you watched any news in 2023, from the ‘doom and gloom headlines’ the economic outlook remained a bit grim. However, as we’ve entered 2024, with major high-street banks reducing mortgage rates, the economy is proving to be more robust. If you do a bit more digging, it doesn’t take much to notice there are many more shoots of hope poking up through the soil.
For example, investment research website, Morningstar, recently reported a significant rise in consumer confidence in the UK. There’s still a long way to go, but the Consumer Confidence Index grew by six points with increased optimism about both spending and personal finances forecast for 2024.
For those who don’t follow these more abstract financial measurements, the bottom line is there are positive factors which mean people have more disposable income. What’s more, they are happier to spend it now than they have been for a while. The retail sector performed especially well at the end of the year, inflation is dropping, and many of the worst predictions haven’t come true, such as the start of a recession and a crash in the housing market.
For many businesses, 2024 has great potential. For those in the signage industry, it’s an even greater opportunity to shine.
Of course, high-quality signage is something which is never out of demand.
In the 35+ years FASTSIGNS has been in business, we’ve seen more ups and downs in the economy than we care to mention; one thing we have noticed is just how much the signage industry benefits from the see-saw effect. The kind of work we do, and the kind of businesses who need us, may dip or rise, but this means we’ll be needed even more, somewhere else. The flexibility and adaptability which is built into our business model means we can quickly and effectively respond to our customers’ changing needs, and be on hand for any new business which requires our expertise.
For example, during difficult economic times, such as the pandemic, businesses need to quickly shift how they worked, how they sold products, and how they kept their customers safe. This meant additional opportunity for our franchisees, as we went all out to help both businesses and public bodies, like schools and hospitals, with new signage strategies which could help them thrive again.
Now the UK is starting to turn a corner, we’re seeing growth in other areas. With consumers more confident in spending money, businesses in the retail, hospitality and leisure sectors need to start upping their game when it comes to promoting sales and standing out from the competition. Which means – you guessed it: signs and visual communications!
The signs these businesses need help communicate their brand, service and attractions, these signs help bring custom to their doors throughout the year, creating seasonal and consistent sales opportunities for signage materials. High-quality signage is just the beginning – our franchisees help businesses stand out from the crowd by delivering creative and innovative solutions which embrace wider visual communication and marketing strategy. It not only keeps our customers at the very leading edge of their markets, but our franchisees, too.
It’s the kind of edge you’ll gain, as a FASTSIGNS franchisee. We understand how the ups and downs of the last few years might make you a bit hesitant to take the plunge into building a new business. However, in our experience sitting back and waiting for the perfect moment, means you may never make the change. The combination of our proven business model, market leading signage manufacturing, and insights into how to create effective solutions for our customers mean the opportunities 2024 presents could very easily help you create that perfect moment for yourself.
So, stop waiting to fulfil your dream of running your own business!
Contact us today to discover how we can work together to turn those dreams into a reality!