The Franchise Boom is Coming!
The Franchising Industry has had its ups and downs, although over time it has maintained a significant margin over the average small business failures in the market place. In fact, franchising is a better risk than starting a business from scratch. Perhaps you have seen the figures that some 75% of all small businesses fail in the first five years of business. With franchised outlets that figure is much lower.
Did you also know that franchisee success rates tower over franchisor success rates? Most franchisors never make to thru their first five years in franchising, whereas even if the franchisor fails many of their franchisees go onto succeed and use the business model, going on without their former franchisor corporate HQ partner.
Over the last few decades franchising grew to some 6,000 active franchisors, then dwindled to just under 2,000 heading into the recession from 1999 to 2002 and from there the numbers are shooting back up again. Today, franchising has taken hold in numerous industries, places you would have never thought possible. For instance, a franchise to haul junk away or a franchise that inspects homes for sale or for foreclosure, for bank appraisal, real estate price points or for a buyer.
We are witnessing a trend in franchising; more diversity, more industries and more competition, which means more choices for franchise buyers, more opportunities and a chance to pick a business that fits your lifestyle. Best of all, some of the strongest periods for the franchising industry have been during mild recessions, when there are more potential franchise buyers, which have been laid-off from their corporate jobs.
A good time to buy a franchise would be right now. Get your business set up and then ride the economic recovery from the business cycle, as your business grows. Those who know franchising agree - it’s a great time to get in on the ground floor and get into a business of your own. Of course, before you take the plunge, look around, check it out and see if there is a business that fits your lifestyle and temperament moving forward. Think on this.
“Lance Winslow” - http://www.franchising.org . If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.
