Many of the risk factors and start-up problems that other businesses have been reduced or eliminated entirely with a franchise. This is due primarily to the following factors:
- Marketing for franchises is frequently supported by brand name advertising.
- Franchises use tested and proven systems which create stability, reliability, duplicatable training, and the opportunity for wealth creation.
- The franchise owner never has to “go it alone,” because there is a community of other franchise owners and support from the franchisor.
These are only a few of the factors why franchises employ over 8 million people and are a favored investment by many seasoned business people.
Here are some interesting facts about franchises:
- There are 757,055 franchised establishments, which is roughly 2% of the total businesses in the country.
- However that 2% produces a staggering $802 billion in output each year.
- Franchised establishments employ over 8.2 million people each year creating, on average, 11 jobs per franchise establishment.