As Franchise Business Ownership Booms, FranNet Enters 2016 On a Roll
FranNet Franchising Consultants Close Out 2015 Responsible for Creating More than 5,000 Jobs
With more than 3,000 franchise concepts available today, choosing the right opportunity can be a difficult decision. That’s why, for nearly 30 years, FranNet has helped entrepreneurs make educated business decisions that lead to successful franchise ownership. On any given day, the company is likely overseeing the opening of at least two franchise businesses in the country. And with nearly 120 consultants throughout the world, FranNet placed more than 500 new franchisees into business while also supporting the creation of nearly 5,000 jobs in 2015 alone.
“Every day, we’re implementing plans to help more people find their way as business owners in their communities through the power of franchising. Because we are able to carefully coach them toward the next step of their career, our success rate has out-performed national averages of franchise openings,” said FranNet CEO Jania Bailey. “Constantly reinventing ourselves and offering a variety of services that we continue to grow made our notable accomplishments in 2015 possible. We plan to continue this momentum with a strong 2016.”
Through a free educational and consultative process that includes a personal franchise assessment, FranNet consultants determine which potential franchisors fit an individual’s needs, lifestyle, business goals and budget.
In 2016, the company’s leadership hopes to take the trends they observed last year and integrate them into their own operations to fuel a 10 to 15 percent increase in franchise and job creation throughout the country. In particular, FranNet noticed semi-absentee ownership picking up, meaning that people are keeping their current jobs but buying their own business to help create additional income, diversify their portfolio, or establish a financial safety net should anything happen with their current job. Industries that fit well with semi-absentee ownership include hair care, automotive repair, retail, tutoring services and health spas.
“FranNet has seen an influx of prospective business owners and new franchisee signings for business ownership opportunities that require minimal time commitment and allow for the owner to continue working their traditional office job,” Bailey said. “This type of business ownership really allows the owner to drive additional income to their current situation with minimal time commitment once the business is off the ground.”
According to Bailey, they’ve also seen a shift in demographics over the past five years when it comes to franchise ownership. The company observed a 72 percent increase in people aged 30 to 39 buying their own businesses. And they’re seeing an increasing gender shift as the company saw a 36 percent increase in female owners purchasing franchises, while there’s only been an 11 percent increase in male owners.
“We believe this points to a larger social trend that there are now more females in elevated senior positions within companies, and they’re now falling victim to the same situations that their male counterparts have faced through the years—downsizing and layoffs,” Bailey said. “At the same time, this progression in the corporate structure is equipping women with a tremendous skill set and financial wherewithal to become their own business owner.”
As far as choosing the best segments to target in 2016, FranNet forecasts a promising outlook for retail franchises, which include everything from spa and hair care to light manufacturing and printing.
As economists gear up for a strong year, franchising is set to explode in 2016, and it’s predicted to outpace the general economy by 1.2 percent – continuing a six-year trend of outpacing the general economy. FranNet hopes to hone in on these rising trends to achieve even greater success in the new year.
“The franchising industry is in a great place right now. The economy is getting better, and people have more and more options. Whether you’re a semi-absentee or full-time operator, or a single or multi-unit owner, FranNet is excited to continue making franchise ownership a possibility for hopeful entrepreneurs all over the world.”