These are interesting times for franchising. In spite of the recession, figures continue to pour in saying a number of franchise industries are performing very well despite the economic downturn. The latest good news comes from Franchise Times magazine, who have just released their Fast 55, a study of franchises and franchise industries performing far better than expectations.
The Franchise Times study singles out three franchise industries that are performing the best at the moment: childcare franchises, finance franchises and fitness franchises. All three of these sectors historically perform well during a downturn, and it’s worth noting that old trends are repeating themselves. We’ve seen franchising thrive during recessions in the past, and early indicators show that this recession may be no different.
That said, if you’re an entrepreneur feeling the recession blues, the new website RecessionWire is preparing for the upturn in the economy by providing entrepreneurs with advice and information on how to beat the downturn. RecessionWire is founded by three journalists who lost work when the economy tanked and should be essential reading in these tough times.