The Booming Franchise Business
In a time when a lot of businesses are hurting during the economic downturn, franchises seem to be on the rebound. The business model of the franchise seems to be the best option for many people looking to start their own business. There are many benefits in this troubled economic time to consider opening a franchise compared to a stand a lone new business. According to the International Franchise Association President and CEO Steve Caldeira, “the franchise sector continues to grow adding 184,000 jobs in the past twelve months.”
The IFA's Third Quarter Franchise Forecast for 2013
According to the recently released Third Quarter Franchise Forecast by the IFA:
- In the past eighteen months the franchise sector accounted for approximately ten percent of all new jobs, boosting the total number of jobs in the industry to more than eight million.
- In 2013, franchises are expected to have a growth of more than twice as much as the rest of the economy.
- Franchises support more than eighteen million jobs overall, directly and indirectly.
Why not open one of your own?
If you are looking to open your own business you should definitely consider opening a franchise. The unparalleled growth in the economy is just one of the benefits, but you also get experience and knowledge from the franchisor. Their is free advertising just by having a known brand name. The customer knows what to expect when they walk in, and you know what is expected from your business. In today's world you need any extra boost you can to get any business off the ground, and by franchising, you can get that extra boost you need to make your business successful. It may not be a cure all for everything in the industry, but the franchise model can help you limit the risks of starting a business and put you on the right track to seeing a bigger profit. So, why not open a franchise of your own?