Anyone can tell you that investing in his or her business is a good idea but we can prove it. Franchising is one of the safest ways to invest your money and run your very own business. You don’t have to just take our word for it; there are some pretty significant industry statistics to back it up. FranchiseGrade is a research firm that surveys today’s franchisees to compile a look into the industry as well as its trends and changes. A study of more than 12,000 franchisees has brought to us, and to you, these very important numbers.
81% of franchisees were profitable last year
As a potential franchisee, this is a very great percentage. Out of every ten people that own a franchise, 8 of them had a profitable year ranging from hundreds of dollars to hundreds of thousands of dollars. This number shows the potential and success that franchisees are having all over the country and throughout a variety of different industries. It also shows how the economy has improved and that spending has returned to normal after years of financial instability.
75% of franchisees are proud to be a part of their franchise
As important as it is for franchisees to make money, it’s also crucial for them to be passionate about their business. When an owner lacks interest, the business will almost always begin to fail whether due to unmotivated team members or customers that don’t return. 75% of franchisees are proud of what they do and are having monetary success because of it. They get to enjoy going to work each day, run their own company and reap the rewards of a successful company and brand.
78% of franchises had fewer than 5% of their locations close over one year
Sometimes franchises do have to close, it’s the nature of the business. For example, when Blockbuster couldn’t compete with Netflix, its locations sadly had to close little by little. Even thought franchise owners could have been dedicated managers, the industry just couldn’t justify these locations. Luckily, this comprehensive report shows that a vast majority of franchises barely had to close any locations over the span of a year. The stability of the franchising industry is displayed perfectly through this statistic.
46% of franchises offer financing
This statistic is important because it shows that not all franchises require your total investment, in cash, up front. Since not many hopeful entrepreneurs have thousands of dollars in the bank, it doesn’t mean that they can’t venture into the world of franchising. If you want to explore all that franchising has to offer you, it can never hurt to ask a potential company whether or not they will offer a financing opportunity for you to make it an easier investment.
These numbers, straight from the franchising industry, provide great insight for current and potential franchisees. They also support the debate that franchising is a great opportunity for those that want to own their own business with additional established and constant support. Dr.PhoneFix offers franchise openings to motivated and dedicated individuals looking to take advantage of an increasing market demand, smartphone repairs, with a quality product and service.
Start the process of becoming a DrPhoneFix Franchise Owner Today.
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