Interested in Franchising?
August 02, 2010 9:55:47 AM
Have you ever wanted to own your own business? Is your company downsizing? Do you dread Monday morning and going to work at a job you are less than happy with?
If you answered yes to any of these questions, it may be time to consider starting your own business. Franchising might be the easiest way for you to do that.
Franchising can offer you training, on - going support and a proven, successful way to manage your business. Those are the top two reasons the lending institutions are more likely to loan you money to start a new franchise business as opposed to buying an existing business. With franchising you do not need to have a 10 - 15 year background in whatever category you decide to pursue. In fact, most franchisors prefer that you have no background in their industry because you are easier to train “their” way.
If you look around while driving, you will see nearly every strip mall is filled with new franchises. There are plenty of opportunities to get started. As National Director of Franchising for Murphy Business and Financial, we have over 100 preferred franchises, most of which the franchise fee is below $50,000, plus many more opportunities for service-based franchises.
Here are some franchise facts for you to consider. It just might be the right time to change your life and work for yourself Monday morning.
o Franchising is responsible for more than $800 Billion in U.S. sales annually
o 1 in 12 business establishments is a franchise
o A new franchise opens every 8 minutes of every business day
o More than 8 Million people are employed by franchise businesses
o According to the U.S. Commerce Department fewer than 5% of Franchises were terminated on an annual basis
o In a study conducted by Arthur Anderson & Company of 366 franchised companies, nearly 97% were still in business
o In contrast, a study by the U.S. Small Business Administration revealed that 62.2% of all new businesses failed within their first 6 years of operation
Who Buys Franchises?
o Cash Available: Under $120,000
o Average Income: $65K - $150K
o Average Age: 35 – 50 Years Old
o Gender/Couple: Males, Couples, Females in that order
o Owned a Business?: No, most have not
o Work Experience: Corporate
If you are interested in doing your own due diligence regarding specific franchise opportunities in franchising, go here. Our national network of brokers can assist you in your investigation.