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The Switch from Finance to Franchising

It’s official: the shift is underway. In the wake of the global economic downturn, the massive lay-offs on Wall Street and the chaos of the financial markets, hundreds and hundreds of America’s best businessmen and women have been sent looking for a new field to apply their business skills. And that place is the franchising industry.

In this week’s issue of Business Week, there is a compelling article discussing the migration of financing to franchising for 11 professionals. Be it with Roni Deutsch Tax Centers or Hungry Howie's, the broadness of franchising has allowed many intelligent, unemployed people to reignite their business careers.

Consider David Ambinder. He took his 25 years with Lehman Brothers and now is enjoying a second life with Mr Handyman. “When you're making business decisions in a big environment, it's more about consensus," Ambinder says. "It's a weight off your shoulder when you can make decisions quickly."

There are 10 other interesting narratives to consider with this story. Nothing represents the abstract economy like the complicated world of finance, and nothing represents the real economy like the hands-on world of franchising. You hear talk in the media now and again of the death of the capitalism, and while the world of financing has experienced great peril in the last 12 months, a year on from the collapse of Lehman Brothers, we can see that franchising is leading the economy back on track.

We hope that any readers working in the financial sector will take note. You’ll find the franchise for you with Franchise Direct.

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