The Economy, with a capital E, seems to be the one of the topics on the top of everyone's mind these days. Whether the issues are real or perceived remains to be seen, but in the meantime, I wanted to share some interesting information about the economic impact of franchises. In a report issued on March 3rd, the International Franchise Association reported:
- The franchising sector of the economy expanded by over 18 percent from 2001 to 2005.
- From 2001 to 2005, the franchising sector expanded at a faster pace than many other sectors of the U.S. economy.
- In particular from 2001 to 2005, the number of jobs, amount of payroll and economic impact of franchise business grew at faster rates than that of other businesses.
(Please let me know if you'd like a full copy of this report.) There have also been numerous articles recently about the resiliency of franchises in a variety of economic times.
So if you are wondering if this is the time for you to consider your options, read on. Here's the story about a client who took the time to consider his options and found a new Possibility (with a capital P).
