The economy is always in flux and the impact of a recession is important to understand. However, while recessions are painful, expansions following these crises have been powerful. On average, past recessions have lasted 11 months with a loss of 1.9 million jobs. The growth following each has lasted on average 67 months and added 12 million jobs to the economy.
Franchising offers exactly what many people need during this time, a business start-up with a proven model and partner. Franchises have seen it all and have the proven systems and processes in place to help you weather the next economic storm.
Below are a few of the reasons that now is the right time to look at a franchise model.
The price is right – interest rates are at an all-time low and lenders are more comfortable providing financing to a proven model
Less risk – the franchise model allows someone to become an entrepreneur with much less risk than starting from scratch. Franchising offers support, networking, market protection and other advantages that minimize the risk of business ownership
Faster ramp-up – Franchises experience faster growth than start-ups, and because of territory controls a franchise business can often achieve market leadership