3 Reasons to Become A Franchise Owner

Sep 15, 2010 by

3 Reasons to Become A Franchise Owner

3 Reasons Why Now is an Ideal Time to Become a Franchise Owner

“By Jocelyn Chavez”

If you’re interested in pursuing franchise ownership, now is an ideal time to turn your aspirations into action. With the economy improving, the franchise industry is poised for substantial growth, and franchise businesses are expected to continue to flourish. According to the International Franchise Association’s (IFA’s) Franchise Business Economic Outlook: 2011 Report (prepared for the IFA Educational Foundation by PricewaterhouseCoopers [PwC]), the franchise industry is expected to make significant gains in 2011 and beyond.

So if you resolved to become your own boss, the IFA Franchise Economic Outlook: 2011 Report offers further proof, evidence and inspiration, that this is the time to accomplish your business ownership goals. Some of the projections for franchising activity growth featured in the IFA Franchise Economic Outlook: 2011 Report, include:

1. Job creation- Creating jobs is crucial to stimulating spending and overall economic growth, which is why economists and political leaders continually cite job creation as a top priority. PwC is projecting franchising industry job growth of 2.5% in 2011, creating 194,000 new jobs.

2. Economic output- The gross value of goods and services a business produces-is expected to grow for all franchise business format lines in 2011.PwC expects output to grow by 4.7% or $33.3 billion in 2011, from an estimated $706.6 billion to $739.9 billion.

PwC projects that the three franchise business lines that will experience with the largest percentage increases in output in 2011 will be: Automotive, Commercial and Residential Services and Personal Services.

3. Increased number of franchise establishments- The accelerating economic recovery expected in 2011 is expected to lead to growth in the number of franchise establishments, with the largest gains in franchise establishments projected in the following three sectors: Lodging (4.4 percent growth), Automotive (3.9 percent growth) and Retail Products and Services (3.9 percent growth).

With franchises and business opportunities available in the fastest-growing sectors, and the economy rebounding, now is an opportune time to become your own boss.

Regardless of whether you have previous industry or business ownership experience, franchises and business opportunities enable you to become your own boss in the industry of your choice. Discover the rewards of business ownership.

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