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Here’s Why Franchising is the Future

Every day, more and more business people leave their jobs to pursue more creative avenues, passion projects, and careers that create financial stability and freedom for themselves and their families. But is this surprising? No, not entirely. 

As of 2023, our world has never been more digital. More hustle and bustle. If you’re looking for another word – adaptable. And we’re only heading in the direction of more freedom and opportunity. 

However, so many people are unhappy and stuck in the past working jobs they dislike due to fear or obligation. But just because this is the way it’s always been doesn’t mean you have to stay stuck in that pattern. As more people climb their corporate ladders, they begin to realize that it’s either lonely at the top or they’ve been climbing toward a goal they’re no longer passionate about. Yet, they doubt whether another path would be lucrative, give them financial stability, and if there’s enough time left in their career to pivot. The answer is YES! 

Franchising is an industry that has taken the business world by storm due to its fast growth, retention, and overall quality of life based on the brands, consultants, and buyers in the system.

5 Franchise Facts that may Surprise You

Before we get into the tips on how to become a franchise owner, here are five facts that perhaps you didn’t know about the industry…

  1. In 2022, the projected number of franchise establishments in the United States was 792,014.That’s 2.2% more than the year before and 2.8% more than the year before that. The trend? Upward… with 8,449,162 added jobs and room for more growth this year!
  2. The United States reports that 10.5% of businesses are franchises. And based on trends, this number will only continue to grow – meaning more opportunity for franchise buyers to find their right fit.
  3. The Bureau of Labor Statistics reports that about 20% of independent businesses shut down after two years. In contrast, franchises have a higher success rate because owners are supported through training and onto actually running the business.
  4. Franchising is present in almost every business sector.Statistics show that service-related sectors, such as restaurants, hotels, home repair, and cleaning, are among the most popular options in franchising. However, if those opportunity types don’t interest you, there’s plenty more to choose from.
  5. There is a wide investment range to open a franchise.From a couple thousand dollars to upward of one million and beyond – franchise buyers choose the business right for them… that includes the level of upfront investment.

What Exactly is a Franchise Owner?

A franchise owner–also known as a franchisee– is someone who invests in an existing brand and becomes an owner in an available location. To do this, first, franchisees must pay a fee to the franchisor–or person/organization to grant the franchise rights to a buyer. This gives the franchisee access to the organization’s name, established success, trademarks, and the proprietary knowledge that owners need to keep the brand recognizable and consistent.

In addition, franchisees don’t have to navigate their new business alone. There is continuous assistance from other owners of the brand, along with the franchisors who assist in training and guidance well-past the early stages. They get the benefit of owning a small business without the hassle of having to build it from the ground up.

The Brand, the Buyer, and the Consultant

So now you know what a franchise owner is… but what they do depends on the industry and brand they choose.

Think back to the statistics you just read – there are over 790,000 franchise establishments in the United States. This number not only indicates that there is a massive amount of choice out there but that navigating those choices presents challenges for the average buyer.

This is why many brands choose to work with franchise organizations like ours to get listed in an inventory to make shopping a more simple process. At IFBC, we have access to nearly 1,000 brands and go through a screening process for each buyer to support their due diligence process in the evaluation stage. Within our inventory, there may be a few categories that may interest you.

We have a variety of opportunity types:

  • Advertising
  • Automotive
  • Beauty & Spa
  • Boutique Specialty Retail 
  • Building & Decorating
  • Business Management & Coaching
  • Business Services
  • Child Education, STEM, & Tutoring
  • Child Services & Products
  • Cleaning: Residential & Commercial
  • Computer Technology
  • Distribution Services
  • Dry Cleaning-Laundry
  • Financial Services
  • Fitness
  • Food & Beverage: Restaurant/QSR/Catering
  • Food: Coffee/Tea/Smoothies/Sweets
  • Food: Stores & Catering
  • Green Company
  • Health/Medical
  • Health/Wellness
  • Home Improvement
  • Maintenance & Repair
  • Moving, Storage, & Junk Removal
  • Painting
  • Pest Control
  • Pet Care & Grooming
  • Print, Copy, & Mailing
  • Professional Services
  • Real Estate
  • Restoration
  • Retail
  • Security
  • Senior Care: Medical/Option
  • Senior Care: Non-Medical
  • Signs
  • Special Event Planning
  • Sports & Recreation
  • Staffing
  • Travel Planning
  • Vending

A full report will be provided after an exploration consultation

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