For certain individuals who possess an entrepreneurial spirit or who simply have a goal of being more independent (as opposed to working as a career employee), franchising may offer a “safer” way to own a business and be the boss rather than starting a business from scratch.
The franchise sector is expected to grow at the fastest rate in five years.* Franchising covers nearly every industry and trend in the economy. While franchising has the element of “only the strong survive,” like any other business, for those desiring to start a franchise business, there is usually a lot of coaching built in from the franchisor and other franchisees on how to be successful. The franchisor offers a proven infrastructure and market knowledge to help manage the risks of entry and increase the chances for future success for their franchisees. The costs and complexity of running a franchise may be lower than creating a start-up.
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