Newburgh, NY (PRWEB) August 11, 2006
In response to the swelling interest in franchise opportunities, FranchiseFetch.com has doubled its list of franchise opportunities and will now publish a regular newsletter to keep potential franchisees up to date on cutting edge franchise opportunities. With the year now halfway over, 2006 is in line with predictions about the explosive growth of franchise opportunities and franchise ownership. Interest in franchise opportunities has reached new levels popularity in the wake of corporate downsizing, an ever darkening perception of corporate loyalty, and a wave of baby boomers ready to retire but short on funds.
“A lot of subscribers are those who spent years climbing the corporate ladder without getting the results they anticipated,” says Joe Smith, Owner of Franchise Fetch.com’s first wave of newsletter subscribers. “Many new franchise owners are first time entrepreneurs,” says Smith “but that’s the beauty of it [franchising]. Franchising makes it possible for those with business sense, but not necessarily entrepreneur experience, to start and grow a successful business.” The Franchise Fetch website serves as an online resource and directory of franchise opportunities.
Since 2003, the percentage of those seizing franchise opportunities has surpassed the preceding year and in 2005, franchise ownership grew by a full 11%. The growing popularity of franchise opportunities is apparent even without hard statistical data. A drive across just about any town in America reveals block after block of franchise establishments like Subway, Quiznos, KFC, Starbucks, and others.
This increase in interest of franchise opportunities coincides with the sluggish pace of hiring in 2006. For three consecutive quarters, hiring in the US has fallen short of even conservative projections. Today’s population is less likely to accept defeat in a tough job market. American’s are more educated than ever before, have seen the entrepreneurial potential of the tech boom in the late nineties, and are ready to accept the low-risk, high-potential of the growing number of franchise opportunities.
According to overall statistics, only 33% of new franchise owners in 2006 had any previous franchise experience and 65% of franchise CEO’s had experience in the industry in which they chose to franchise. “Because the franchise comes as a complete package with systems and processes already perfected, it’s more important to have a good business sense than specific knowledge of a particular industry,” says Smith.
Another factor that works into the equation of 2006’s explosive interest in franchise opportunities is the recent real estate boom. With the median initial investment of franchise opportunities between $67,350 and $167,450, homeowners that have been quietly earning equity of the past several years can now afford to ante up the cost to make franchise opportunities a reality. With real estate prices beginning to level off and interest rates rising, investors are looking for new ways to grow their capital investments.
In January of this year Entrepreneur Magazine predicted major growth in franchise opportunities, calling 2005 a “phenomenal” year for growth. With 2006 well underway, the growth in franchise opportunities is well on it’s way to being the most important business trend of the second half of the decade.