Loading ...Franchising’s green shoots
The stars are aligning for a surge for in franchising, according to another entrepreneurial expert. It’s interesting to see a growing consensus around this point, which we have been suggesting for a few months now.
Brian Miller, CFE of The Entrepreneur’s Source, has written a lengthy piece for Franchising Times, in which he talks to a number of franchise experts. His feeling is that franchising is about to make a breakthrough. The nub of his argument is this:
Unemployment will continue to rise and create this form of “forced entrepreneurship.” The sooner the credit markets thaw, the faster this economic boom will occur. And as this fertile ground for entrepreneurs emerge, we’ll have opportunities we haven’t even thought of yet. We’re seeing more of an emphasis on “lifestyle” franchises these days as well.
Brian also cites some interesting statistics. In a recent Zogby poll, 63% of Americans said that entrepreneurs and small-businesspeople would lead America to a better future.
Snap Fitness CEO Peter Taunton also offered some interesting analysis from the front lines of franchising:
“Over the past few months, we have seen a definite increase in the amount of franchise prospects who are ready to control their own destiny. Many who have lost their jobs due to downsizing have stated that they do not want to go through this again and they feel that the real way to financial security is to own their own business.”
With all the talk of green shoots in the global economic climate, it is certainly heartening to hear some positive talk on the franchising front. Miller admits that no one knows what will happen in the next 18 months, but it seems that intrepid franchisees may be able to inspire the economy to greater things.
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This is very inspiring especially for those who are active players in franchising including the future franchisees as well. At least in this trying times of our economy, high hopes continue to be felt in the franchising market. In anticipation, I encourage the future franchisees to arm themselves with the best franchise guide to avoid committing costly mistakes and to ensure themselves of success and sustainability in this business.