Franchising Presents New Options for Budding Entrepreneurs
Education and Careers Franchising presents an array of potential for anyone looking to open a small business in a challenging economy.
Investing in a franchise business is a good option for individuals and families plotting to open a small business in a challenging economy. The support of a well-known brand name and business model, coupled with hard work and planning, gives franchise owners the opportunity to have financial security and create jobs in their communities.
Franchising is popular because it offers a wide range of small business ownership opportunities. These include food service, hospitality and small business support, among others. A recently released quarterly update of the Franchise Business Economic Outlook indicates that the number of franchise establishments will increase to nearly 800,000 in 2015.
"The number of people employed by franchise businesses is projected to reach 8,820,000 by the end of 2015."
This consistent growth has made franchising an engine of employment and growth for the entire U.S. economy. As the number of franchise establishments grows, so does employment in local communities. The number of people employed by franchise businesses is projected to reach 8,820,000 by the end of 2015.
Owning and operating a franchise has challenges like any other small business, but according to a recent survey by Franchise Business Review the satisfaction rates among franchise business owners remains high. More than 80 percent of franchisees surveyed said they were satisfied with their franchise.
Additionally, more than 88 percent said they enjoyed operating their business. For the vast majority of franchisees, the experience is a positive one.
Starting a small business is a difficult venture. It requires raising capital, hard work and a willingness to take risks. Franchisees overwhelmingly believe that the franchise business model gives them the opportunity to become successful small business owners.