ARE FRANCHISES CHANGING WITH THE TIMES?

Guest post by: Ken Hollowell
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A Funding Consultant Could Show You An Easier Way to Raise Capital in the United States - By Ken Hollowell

During the mid 1970’s when I became a franchise consultant there were no more than 500 different types of franchise businesses making up a few dozen industries, but now we have well over 4,000 franchises from at least 76 industries. Commonly restaurants, fast food and food related businesses were the franchises of those days, but service and in-home businesses are gaining ground today.

Very few people actually understood what a franchise was prior to FTC Rule 436 that only came out since October 21,1979. The rule required franchisors to provide disclosure information to prospective buyers of their franchise offering. Definitely franchising as a method of marketing a product or services is widely accepted by the masses where ever you go in the world.

Personally I ive witnessed the tremendous growth of franchising over the past 30 years. Franchising has proven itself as a spectacular method of business expansion over the years. Few would argue the success and impact franchising has had to our economy particularly over the past dozen or so years. As franchising exceeds $2 trillion to our U.S. economy and climbs to 50 percent of retail gross national product, many predict that over the next 50 years, over fifty percent of all businesses will be franchised.

But the question is asked, “Is franchising changing with the times?” With the current economic conditions in the United States and throughout the world, are franchises adjusting to these changing conditions? In researching the types of franchises being offered today in the fields of computer, in-home business and the service industries in general one would conclude that franchising is adapting itself to our changing economy, environment (more green franchises), and life styles. One of the major benefits of franchising as a method of marketing is adaptability to market conditions. When a new business concept emerges that can be duplicated then it can be franchised.

Today any potential franchisee can find a business opportunity in just about any field and from nearly all price ranges.

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A Funding Consultant Could Show You An Easier Way to Raise Capital in the United States - By Ken Hollowell

About the Author: Ken Hollowell

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– Ken M. Hollowell, founder of both Prfran Consultants, Inc. and Profran Capital Group, Inc. and is a leader in the field of franchise development and non traditional methods of raising capital since 1980. Ken Hollowell has lectured before many business organizations, Universities and Colleges on the subject of franchising and hosted a radio talk show of radio for years.

Ken Hollowell conducts numerous seminars annually on franchise development and investing in a franchise business throughout the United States.Ken Hollowell is regularly requested by the Small Business Administration in Washington, D.C., S.C.O.R.E., Learning Annex and the International Franchise Association to speak on franchising. Ken. Hollowell's well-rounded experience and practical knowledge in both development and marketing have led him to be one of the most sought after franchise consultants in America. Ken Hollowell has written many articles on both developing a franchise network and buying a franchise. Mr. Hollowell sits on no less than a dozen boards of directors. Ken Hollowell works with as many as 120 new clients each year on teaching techniques and methods of raising capital through the SEC's Reg D Series of Offerings

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ARE FRANCHISES CHANGING WITH THE TIMES?

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