Overview of Franchising Industry:
What About You?
Everywhere you look today, you see
FRANCHISES! In fact, financial experts have indicated that franchising is the
“wave of the future”. In the next 10 years, franchising could comprise over 50%
of the retail economy and employ millions of people. This growth should be
anticipated based on the simple logic of the underlying concept. Franchising
offers success, with the least amount of risk, to aspiring business owners.
Franchises will enable hundreds of thousands of new business owners realize the
dream of successful business ownership and financial independence.
Franchising opportunities provide brand recognition, management and administrative systems and a proven business model to small business owners. In theory, this should result in franchises having higher success rates than non-franchise business opportunities. But in practice, franchises can and do fail.
In a recent interview aired on CNN, Franchise.com President Nancy Ghanem gave her recommendations on franchise success and gauging realistic financial projections.
Ghanem believes franchises fail primarily because franchise owners do not adequately research franchise opportunities prior to purchase and they do not match personal attributes and interests to activities associated with the presented business opportunity.
(Franchise.com, retrieved 3/5/07,http://www.franchise.com/en/us/template/buyer,ResearchCenter.vm/display/838 )
Seasoned Business Professionals:
Today's older population is healthy and active-Worldhealth.net reported that 7.5 million Americans 55 and older belonged to gyms in 2002, compared with 1.5 million in 1987. These older Americans have both the desire and the ability to stay in the work force well past the age of 50. In a recent poll from The Wall Street Journal and NBC News, retirees were more interested in an active life, which involved working, than their parents' generation.
For aging individuals seeking new work options, franchising is an appealing choice. "Folks in their 50s are energetic," says David Handler, senior vice president of the International Center for Entrepreneurial Development, a Cypress, Texas-based holding company for nine franchise brands. "They've perhaps lived the corporate life, and they're ready to try it on their own."
(Entrepreneur.com, retrieved 3/6/06, http://www.entrepreneur.com/magazine/entrepreneur/2004/august/71812.html )
Disclaimer: This information is designed to provide information only to prospective business and franchise opportunities buyers. The prospective business buyer is responsible to thoroughly investigate any franchise or business opportunity listed on this website, obtain all appropriate disclosure documents, and seek expert consultation prior to making any investment decision. The representations, views and opinions expressed or implied in any document or image included in, or linked to or from this website, do not necessarily state or reflect those of Economic Strategies, Ltd. or any of its representatives.
Send mail to firstname.lastname@example.org with
questions or comments about this web site.