Lower than 10% of Low Cost Franchise businesses are now reporting that they are not breaking even. Taking into account current market circumstances this would appear to be a extrodinary statistic. On top of that 61.7 % of the franchisees declare that their company can be classed as “satisfactory” or “highly profitable”, their confidence is extremely high and nearly all the franchisees asked were expecting their organization to grow in the next . This in comparison with a lot of independent businesses in this climate highlights a dramatic difference. Whilst many of the independents struggle with lowering sales, lack of investment and higher costs the franchise business are faring very well.
An obvious reason for this disparity lies in the very nature of a Franchise Opportunity. The idea of taking an exceptionally stable and profitable business, analysing the key parts of it and then replicating it makes up the process. This product is then sold to very motivated and keen business people who have the determination and skills to push their new purchase forward. They have already put forward the investment, so that does not become an issue. They have a blue print for a successful conclusion to every phase of the business ; from the product or service itself, through the marketing process, the sales strategy and all economic reporting, everything is covered, and has been verified. All these positives do clarify why the franchise opportunity is such a success even in times of recession, in fact it is highlighted in this economy, as the independent businesses of the boom time are no longer surviving making the difference even greater.
Many companies are using the franchise system to develop and grow their organization as the costs and benefits of this type of growth compare very favourably with the alternative. Opening a new company owned and controlled site can cost two or three times that of opening a franchised scheme.
It would seem therefore that the Franchise For Sale may become much more popular in the short term as exceedingly skilled and motivate people make up a much larger than average percentage of the unemployment statistics. These newly redundant workers may just take up the opportunities that are now becoming even more apparantly a good bet. All that is required in order to take advantage of the prospect is an investment amount which can range from reasonable amounts under ?10,000 for a low cost franchise to much higher amounts for the higher yielding ones. Of course added to that is the necessity for hard work, dedication and conscientiousness but with the capabilities of some of those made recently redundant it seems those individuals are out there.
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