Franchising Advantages in a Bad Economy
When the economy slows, many people believe that opportunities become harder to find. But if you have an entrepreneurial spirit, now could be the very best time to take action. History has shown that strong performers tend to take advantage of downturns in the economy, and buying a franchise is one of the top ways to stack the deck in your favor during a slow economy.
Why buy a franchise? Proven franchise opportunities offer systems for success. When you join a proven franchise opportunity you are handed:
• a tested, proven business model
• up-front training
• tools for success, from computer programs to equipment recommendations to sales materials, employee manuals, job descriptions, etc.
• extensive on-going support
• and a rapid start-up.
These are just a few of the factors that make franchise ownership a safer bet than trying to start a business from scratch. Bankers know this, so even in a weak economy they are more willing to offer loans for franchise purchases. If you have decent credit you can get preferred interest rates, which means more money in your pocket.
And if you’re looking at a franchise opportunity that requires a store front, office or manufacturing space, now’s the time to act! Property values are down, meaning you can lease or buy space at lower rates than anyone has seen in years.
Need employees? As companies downsize, many talented people have found themselves looking for a new job. You’ll find more highly qualified workers to choose from in a weak economy than in a strong one.
If you’re one of the talented people who lost a job recently, this might be the ideal time to buy a business and put yourself in the driver’s seat. Or you might be discovering that Corporate America just isn’t meeting your needs. Either way, a world of franchise opportunities awaits, and no matter what your lifestyle and income objectives are, there are franchises for that match what you are looking for.
Don’t let the economy paralyze you. There are many opportunities for business ownership in todays economy, and today the cost of doing business is lower than we have seen it a long time. This could be the best time to buy a franchise and join the world of business ownership!
Have a question for Rick? Ask or leave a comment below!