TeamLogic IT Technology Franchise Opportunity Posts Impressive First-Quarter 2021 Earnings
A strong year despite economic challenges has led into an equally robust 2021 for our rapidly growing, multifaceted technology franchise opportunity
The last year has thrown many headwinds at entrepreneurs. TeamLogic IT technology franchise opportunity owners, however, were able to power through the challenges thanks to their core managed IT services model that meant a predictable income stream.
And now, TeamLogic IT has shown even more durability in the increasingly crowded MSP market that it pioneered. Recently released first-quarter 2021 earnings showed TeamLogic IT with an eye-popping 22% year-over-year sales growth, making it one of the fastest-growing private companies in America.
Strong network sales demonstrate brand durability
“When most companies were in the red due to the COVID-19 pandemic, TeamLogic IT network sales were up 22% in March compared to March 2020, and up 13% for Q1 2021,” says Dan Shapero, President and COO.
“COVID-19 ushered in a golden age for the MSP market,” Shapero says. “Given the heightened concern around cybersecurity, remote working and the cloud, the demand for essential services provided by MSPs is greater today than ever before. The need for outside help by companies of all sizes is fueling growth for the TeamLogic IT franchise network. We are both excited for and proud of our franchisees for their leadership and strong growth in 2020 and in Q1 2021.”
Future growth predicted to be robust
As good as that sounds, and after 15 years of rapid nationwide growth, this is a cybersecurity franchise that’s just getting started. According to William Blair’s MSP Market: Entering the Golden Age, it is estimated that by 2023, the total available market for MSPs will be roughly $200 billion. This is due in large part to the complexity of rising technology and the increase in security threats, especially with the rise of the work-from-home/work-from-anywhere model.
As cloud, security and networking increase with these models firmly in place for many organizations, internal IT departments are leaning on companies like TeamLogic IT to offer continuous support, Shapero adds, noting that “even at the height of the pandemic, our franchise owners were busy — and we were fielding calls from entrepreneurs who saw how our brand was performing in a very adverse landscape. We fully believe the rest of 2021 will be a record-breaking revenue year for many if not most of our franchise owners.”
TeamLogic IT is the technology franchise small and medium-sized businesses increasingly rely on for turnkey support. TeamLogic IT’s managed IT services contracts give clients peace of mind around their technology needs, and provide franchise owners with a steady, predictable revenue stream. The company now serves a wide and growing variety of clients in every business sector, from tourism and hospitality to healthcare, legal and accounting. Along the way, TeamLogic IT has grown to more than 225 locations around North America and continues to expand in both new and existing markets.