Looking into the purchase of your own personal franchise continues to be both a good and safe bet as we travel further into the 2013 calendar year. While the economic recovery continues—albeit at a much slower pace than needed or anticipated—there is still much uncertainty in the air. Leading to this general feeling of unease for Corporate America is a combination of the effects of the 2013 economic sequester and further rounds of company layoffs, some of which include well-known businesses such as Bank of America and the Walt Disney Corporation.
For those who have beefed up on their franchise research over the past few months or years, the time to take that all-important first step has certainly not waned. There is much evidence to back up this claim. Consider the recently released report by the International Franchise Association. Here are some great conversation points:
– Franchising sales rose 1.5 percent in the 2012 calendar year, at a rate of 1.4 percent growth is expected through 2013.
– The number of jobs created by franchising is expected to rise 2 percent over 2012 figures, from 8.1 million to 8.3 million employees.
– The gross domestic product of the franchise sector is projected to increase 4.1 percent in 2013, from $454 billion to $472 billion in annual sales. This represents 3.4 percent of the gross domestic product figures for the entire United States economy.
– The output of franchised establishments (in nominal dollars) for 2013 is expected to rise 4.3 percent—from $769 billion to $802 billion.
All of the aforementioned figures make a pretty good argument in favor of stating that the good times for franchising have yet to peak. And that has kept the lines of communication open for companies such as FranNet, who specialize in franchise industry placement options and financing.
As we have seen in a previous FranNet blog posting, there are several key franchise concepts that do well in any type of economy. Included in these franchise listings are franchises related to Senior Care, Home Repair, Essential Services (think haircuts!), Professional Services and Health & Wellness concepts.
Keep in mind that deciding to opt for a further discussion of franchising is an important first step, but finding the right opportunity is the most important decision to consider. Always keep in mind the key benefits of franchising over other small business opportunities: You get to work with an established brand, receive exhaustive training, are provided continuous support and—best of all—you get to be on your own.
And isn’t that why you likely considered the franchise route in the first place? We can tell you from our experience, it’s a reason we hear quite often from our clients!
Do you feel that you’re ready to get started? If this article has inspired you to investigate a franchise opportunity, perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. As it turns out, FranNet is just the place! As a franchise consultant company with a great track record of assisting individuals on their path to business ownership, make arrangements to speak with one of our representatives today.