A Bad Economy May be the Best Time to Buy a Franchise
By Rick Bisio | Creator of The Educated Franchisee | Franchise Consultant
When the economy falters, many people tend to stop moving forward. 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 come out a winner.
Why buy a franchise? Proven franchise opportunities offer formulas 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 much easier 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 excellent interest rates, which means more money in your pocket.
And if you’re looking at a franchise opportunity that requires offices 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 fat companies tighten their belts, many talented people have found themselves looking for a new position. 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 someone who is finding 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 will be franchises for sale that match what you are looking for.
Don’t let the economy paralyze you. There are many opportunities out there for business ownership, and right now there are just as many opportunities for real savings. This could be the best time to buy a franchise and join the world of business ownership!
The Educated Franchisee is dedicated to franchise education through the sharing of franchise information.
Our objective is –‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it. An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved.”
To get more franchise information about how to stack the deck in your favor you can –