As climate change gathers pace, both businesses and the general public have to become more aware of their ecological impact.
With this change in perspective, there has been a boom in businesses that are promoting green living and helping both consumers and other companies become environmentally friendly.
Make no mistake about it, the green and eco-friendly industry is on the rise. Businesses that put environmental factors at the centre of their decision-making look set to thrive.
Meanwhile, companies that can assist firms in their quest to become environmentally conscious will also benefit.
Here are few facts and trends about Green & Eco-Friendly Franchises that may be of interest.
- The annual Ipsos Climate Change Report 2022 shows the majority of Australians are concerned about climate change and 70 percent consider that Australia is already being affected by climate change, primarily with more frequent and extreme natural disaster events which is a steady increase in concern and up from 56% in 2011. This represents a clear increase in the number of people who want all elements of society to be taking climate change seriously. Thus, businesses that embrace this will benefit from a serious amount of good will.
- Two thirds of people agree that Australia should be doing more to address climate change and roughly the same percentage want Australia to be a global leader in emissions reduction. Once again, the public want all members of society to do more. Some businesses will need help becoming more environmentally aware and that’s where certain B2B franchises will thrive.
- Sectors that are most considered to be able to have positive impacts are resources, mining, oil, and gas (46%), energy (43%), transport (31%), and automotive (31%). Companies in these industries should also be offsetting their carbon footprint by hiring green companies for their services, such as travel, cleaning, etc.
- Over 30 percent of urban Australians prefer products that are sold in Eco-friendly packaging, according to a recent study. This is just one sign that eco-friendliness is becoming a deciding factor for the buying public.
- A third of urban Australians also prefer to buy products that have been produced using sustainable methods. Thus, if you are investing in a franchise that is already environmentally friendly, you are at an immediate advantage.
- There are around 1,350 clean technology companies within Australia, with a turnover of over $28bn.
- According to The Global Web Index, 61 percent of Millennials (22-35) said they would pay more for Eco-friendly products. This is an age group whose purchasing power is increasing all the time, as they go through the various stages of their career.
- That figure lies at 55 percent for Generation X (36-54) and 46 percent for those between the ages of 55 and 64.
- The same survey revealed that 52 percent of people think that manufactures and production bodies are most responsible for the future of the environment. If you are investing in an environmentally aware company, you are ahead of the trend and starting from a point of advantage.
- Research from IBISWorld revealed that the market size, measured by revenue, of the Environmental Science Services industry is $7.5bn in 2022.
- They also list the primary positive factors affecting this industry as “low competition and a low revenue volatility”.
- Research from 3M showed that the majority of Australians (90%) believe more people should be following the science to make the world more sustainable. Therefore, going forward, buyers are going to be more aware of the companies that are climate aware and those that are not. With eco-friendly franchise opportunities, you will already be on course to be servicing a more climate aware consumer base.
- The research also revealed that 61% of Australians think the pandemic has made them more environmentally conscious. The last two years has changed and accelerated how we think about the environment. People now think more before they buy and that is working to the advantage of environmentally aware businesses.
Below are just a few of the reasons you should consider investing in a green & Eco-friendly franchise.
Public Relations
The weight of public opinion is a heavy one and more people than ever before are engaged in social issues, of which, climate change is one of the most important.In this day and age, consumers consider where the products they consume are coming from and what impact their production is having on the planet.
Your Future customers care and so should you
The young people of today are more engaged with environmental issues than any generation before them.
The trend is for younger people to be more conscious about what sort of company they are buying from and that’s a trend that is set to continue.
A successful green industry
This is already an industry that has a strong foothold in Australia.
As was previously stated, those are numbers are expected to grow steadily over the coming years.
Of course, with this growth, there will be plenty of excellent franchise opportunities too.
Ahead of the trend and legislation
An Australian government website states that, "all Australian businesses can play a part in environmental management, but whether environmental laws affect your business directly will depend on your business type."It is true that not all Australian businesses are currently affected by environmental laws, but as the world gets more climate-conscious, it is clear that there will be more legislation brought in to protect the environment. Why not be ahead of the trend and be green and environmentally friendly now, rather than when it's compulsory.
Personal Reward
Working in an area where you don’t make a negative contribution to the world, but maintain a healthy profit, is reward in itself.
Business owners who are in this position (and those who go one step further and contribute positively to the environment) can rest knowing that their business isn’t making things more difficult for the planet.