Tom’s Franchise Information Blog
Does Franchising Work Because People Are Hungry For Opportunity?
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The other day a would be future franchisor emailed me and stated that people were hungry for opportunity, presumably because they were stuck in dead end jobs and unhappy with life, feeling trapped and feeling like their careers were nothing more than a dead end.
Well, yes, and in downturns in the economy even more so, thus if the future franchisor decides to go for it, NOW is the right time, and they probably have about a 3-year window to make hay. Folks get laid off during difficult economic times and are looking for franchises.
The 2.2 kids, white-picket fence, college degree, mini-van and credit card debt is really taking it’s psychological toll on America, I see it in their eyes, it’s real. People are hungry to be owners, believe again, etc. Of course, by the same token the mass media is trashing our nation, telling everyone they are poor and projecting doom and gloom while traders trade down the markets using the same negative PR campaign. Adding to the citizen’s desires to break out on their own and become their own bosses.
But, back to the question, does franchising work because people are hungry for opportunity or does it work because the successful business model is or can be under the right circumstances more efficient. Well, it is my contention that both reasons attribute to the success of franchising. Fast growth rates help franchising companies become successful, but it is in the end the success of the partnership which makes it all work long-term. Think on that.
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