Business franchises are great for economy, solid bet for entrepreneurs
The franchise world is still abuzz over the news FranNet broke a few weeks ago: that entrepreneurs who use FranNet as their “franchise matchmaker” succeed at a rate 42 percent higher than those who start small businesses from scratch.
It’s powerful evidence to support our view that franchise brokers, who are skilled at evaluating professionals’ goals and skills, are critical tools in helping small business owners. Our evaluation process, honed over a quarter-century, matches professionals to the franchise opportunities that make the most sense for them and match their individual needs.
Why are so many people turning to FranNet, and why is franchising such a great option for professionals? A bunch of reasons:
- Diversification. Franchising used to mean two things, mainly: restaurants and hotels. Those two areas are still thriving, to be sure, but one of the most interesting developments in franchising in the last decade has been the rise of low-cost, service-oriented franchises specializing in such lucrative areas as auto detailing, home maintenance and especially home health care. That last category is especially popular with the “silver tsunami” of the Baby Boomers reaching retirement age.
- Freedom from the corporate grind. We’ve seen thousands of people disillusioned by the arbitrariness and lack of security of their corporate jobs — not to mention the threat of their pensions and retirement funds withering on the vine — turn to franchise ownership as a way to secure employment, build equity and regain control over their careers.
- Franchising gives you the manual. Most small businesses fail in their first year of operation, when the owner is desperately trying to build a customer base and figure out just how this business works. By the time he realizes, he’s often drowning in red ink. Franchisors provide owners with detailed, proven systems and marketing materials at the front end, eliminating the learning curve that can derail potentially successful entrepreneurs.
- It works! Look at the survey — of the people who have used FranNet at the front end of their franchise-buying process, 91 percent are still in business after two years and 85 percent after five. That’s an amazing success rate, especially compared to the available stats about startups: 64 percent success rate after two years, 50 percent after five. It’s hard to argue with those numbers.
At FranNet, we’ve helped thousands over 25 years realize their dreams of business ownership through franchising with our own system of evaluation and network of great franchisors. Want to explore these great opportunities? Visit us at www.frannet.com.
meta title: Business Franchises Have a Good Friend in FranNet
meta description: The network of consultants for business franchises helps small businesses succeed at a rate 42 percent higher than non-franchised startups.