Franchises Severn MD
Franchising - Why It Attracts Entrepreneurs
Franchises are different from other types of startups for obvious reasons: They offer opportunities to deal in proven products or services, come with well-known or growing brands, have a set business structure and supplier network, and more.
But behind those differences, aspiring business owners are drawn to franchising for the same reasons that most people turn to entrepreneurship, whatever form it takes.
Control Issues
Many prospective franchisees are driven by frustration in jobs where they didn’t have enough control to influence results in the way they wanted.
Maybe they had a micro-managing boss, a parent corporation that wouldn’t listen, or something similar. Whatever the details, they’re drawn to the idea of being their own boss, having the last say in business decisions and knowing – for better or worse – that they’re responsible.
Economic Need
In the past 15 years, more and more corporations have cut costs by replacing veteran managers with less-skilled workers. This has created a pool of experienced managers, 45 to 60 years old, who’ve found it hard to get a new, comparable job.
They often can’t afford to retire and need to replace their lost income, at least until they’re ready. More and more, these displaced managers are attracted to franchising as a viable way to do that without having to worry about being downsized again.
Author: Lori Kiser-Block
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