Studies have shown that 82 percentof Americans say they wouldlike to own their own business,but only 5 percent of Americansever realize this dream. Perhapsyour goal is to retire early. Maybeyou are ready for a change, readyto live life to its fullest or readyto take control of your future.Can you continue what you aredoing now at the same intensityfor the next 10, 20, or 30 years?Perhaps you have the perfect joband perfect life, but do you havea back–up plan if the unthinkablehappens? With all the lay offsthat 2008 brought it makes onequestion our job security. Withcompanies downsizing, rightsizingand even capsizing, there is nosecurity, except what you createfor yourself. Owning your ownbusiness may provide the opportunityfor you to reach your goals.
Franchise businesses have anexceptionally high success rate ofover 90 percent compared to only18 percent for independent newbusinesses. A franchise alreadyhas a concept and an effectivebusiness model with a stabletrack record. You can acquirea successful business conceptwithout having to “reinvent thewheel”.
Franchises offer a number ofadvantages over non–franchisedbusinesses. The number oneadvantage is increased odds forsuccess, because while you arein business for yourself, you arenot by yourself. A franchiseprovides a complete system foroperating the business, as wellas access to the franchisor’sexpertise, experience, training,name recognition, tested sales andmarketing systems, simplicity ofoperation, on–going support andmethod of running the business.In addition to having access to thefranchisor’s expertise, a franchiseehas the opportunity to interactwith other franchisees within thecompany. Many franchisees willtell you that having this avenueto network with and get feedbackfrom other successful franchiseesis invaluable and one of the mostwidely acclaimed benefits offranchising.
A 1999 study by The UnitedStates Chamber of Commercefound that 86 percent offranchises opened within the lastfive years were still under thesame ownership and 97 percent ofthem were still open for business.A study conducted from 1971 to1997 by the U.S. Department ofCommerce showed that duringthat time less than 5 percent offranchise businesses were closedeach year. Additionally, landlordslove franchises because of theirstable track record, provensystem, and effective businessmodels. Even with the tight creditmarkets we are experiencingtoday, financial institutions aremore favorably inclined to makea loan to an individual buying afranchise than to a person startinga non–franchised business.
Franchises are everywhere. Inspite of our tough economicconditions, consumers must stillbuy goods and services. As theeconomy improves, and it will,businesses in operation today,will have a golden opportunity toincrease their market share. Infact, financial experts believe thatfranchising is the “wave of thefuture”. During the next 10 years,franchises could comprise over 50percent of the retail and servicesectors. This tremendous growthshould be expected based on theunderlying concept —franchisesoffer aspiring business ownersthe greatest potential for success,with the least amount of risk.Franchises provide thousands ofindividuals the opportunity torealize their dream of successfulbusiness ownership and financialindependence. Within both the U.S.and world economies, franchisingis continuing to evolve. Thisevolution creates even greateravenues for wealth accumulationamong both franchisees andfranchisors. As existing franchisesystems become more successfuland continue to grow, newfranchises will be developed andintroduced to the market.
Franchises exist in over 75industries. While most peoplethink of a “franchise” as a fast foodrestaurant, those are only a smallsegment of available franchises.Today, franchising is being appliedsuccessfully to more and moreindustries and types of businesses.There are thousands of franchiseopportunities available todayand cover just about everythingfrom advertising to laundry/drycleaning, maid services to printing/copy services, real estate to weightcontrol. And, since the franchisorknows the business, they aren’tlooking for prospective franchiseeswith industry experience. Theywant franchisees who possesscustomer service, business andmanagement skills, not technicalexpertise. Thus, buying a franchisehas proven to be a great vehicle forthousands of people to effectivelytransition into a new industry andself–employment with an improvedquality of life, while becoming themaster of their destiny.
