Virginia Beach, VA (PRWEB) October 3, 2008
A new business startup, Virginia-based FranchiseThis!, recently launched a franchise consultant division at the company under the name of MyFranchisePath (MyFranchisePath.com). At MyFranchisePath, trained consultants will provide free, in-depth consultation to potential franchisees not sure of the wheres, hows and whys involved with the franchise buying process. MFP will represent franchisors from all different industries and investment ranges in an attempt to match the potential franchisee with the franchise concept that suits them best.
Mark C. Johnson, the CEO of FranchiseThis!, has been an industry leader in franchising for more than 16 years, having held senior level positions with the likes of Jackson-Hewitt and Liberty Tax Service. "We saw a real need to provide a service like this in the market," said Johnson. "With the economy becoming more and more uncertain, there are a growing number of people who want to take control of their lives and feel they can best accomplish this by owning their own business. Furthermore, studies have shown that franchising is a lot safer of an investment than going out on your own and starting a business from scratch."
"People need help with this type of decision," he added. "I mean for most folks, we are talking about a life changing decision, one that they have to get right the first time. And that's where we come in. We'll coach them through the whole process, from selecting which franchise concept would be best for them to paying their fees and being awarded a franchise license."
The franchise industry has a track record of outperforming independent businesses during times of economic upheaval. One of the biggest reasons for this is security. Corporations tend to downsize when times are tough and layoffs have become an all too common theme. As a result, workers will look towards self employment and owning their own businesses.
The franchise industry has become a key component of the national economy, and there is data to support this. PricewaterhouseCoopers recently conducted a detailed study of the economic impact of franchise businesses. The study found that between 2001 and 2005 there were 140,000 new franchise establishments added across the country, a growth rate of more than 18 percent for the industry.
Even more telling is the fact that the economic output due to franchising increased by more than 40 percent as compared to a 26 percent increase from all other businesses. And other businesses only had a 3 percent increase in employment, while franchising showed a 12 percent increase in new workers. Whether it's a tanning franchise or a coffee shop franchise, it is more likely to succeed than a traditional small business startup.
FranchiseThis! is a member of the International Franchise Association. The company is wholly-owned by JTH Tax Inc. (doing business as Liberty Tax Service). In addition to the new franchise consultant division, the company's primary focus has been to help emerging business concepts launch a national franchise campaign as well as to provide franchise development services for existing franchisors.