For franchisees who made the leap into franchising two or three years ago, at the height of the recession, there was no guarantee that their business would ever turn a profit. Many people say that an economic slump is the best time to consider opening a business, but to do, requires capital and courage, two things that are in short supply when times are tough.
But for many of that group of franchisees who decided to open franchises during that difficult economic moment, rewards are beginning to be reaped. Just read the latest CNBC article on franchising if you doubt me. They talk to U-Top-It franchisee Jennifer Ketels, who owns a frozen yogurt franchise in Las Vegas. She once owned an ad agency, but at the height of America's economic doldrums decided to open her own business.
“I get five to eight people a week calling or coming into the store and asking about franchising,” she said. “There's so much uncertainty in corporations right now, especially on the West coast and California. It doesn't matter how good an employee you are; if you're working for someone else, for a corporation, there's uncertainty.”
This kind of confidence in franchising is mirrored everywhere. The story quotes a fascinating study released by the IFA recently which said the follower:
An IFA report released last week of a survey of 2,000 franchise leaders found that 56 percent of respondents said current business conditions are good — up from 38 percent in 2011. Moreover, 54 percent believe those conditions will improve within a year, compared to 33 percent in 2011.
That's a big leap in positivity. Hope this tide of good will carries through and creates business results.