The jump from an independent business to a franchise is a pretty big leap. Handled in the right way, it can be hugely profitable though.
The LA Times has profiled the growing rise in small business’s converting to franchise in California. They focus on the two brothers, Mendrick and Michael Leelin, who are just two of many entrepreneurs in California who are eyeing a franchise breakthrough. They’ve opened their own new Japanese shabu-shabu restaurant and want to bring the concept to the whole country.
The LA Times is predicting that new franchise registration is on pace for a 4% rise this year in California. So far this year, 278 first-time franchises have come on board. This is twice the rate of the rest of the country, which is looking at a 2% increase new franchise registration.
As Patrick Callaway of FranCorp tells the paper, it’s a great time to franchise your business because these relatively-low costs "may not be there when the market has healed itself."
It’s really exciting to see franchising on the rise in California and everywhere else.