Is franchising potential limitless? Franchising has changed drastically since its inception back in the early 1950’s. In the early days of McDonald’s, owning a franchise was an opportunity for single-unit owners to be their own boss and finance their career. Typically established professional looking to make a modest income for their families purchased franchise locations. They would buy one location and run it as their own company, developing staff, tracking income, and essentially living the American dream. This is no longer the norm in the world of franchises.
In today’s franchise environment there are two major differences. First, franchise ownership isn’t just for experienced or retired businessmen. In fact, the demographics of ownership have opened up to virtually anyone. Specifically, there are a few groups of American citizens that have plunged into franchise ownership and are seeing significant, impressive results. Baby Boomers, seniors, Millennials, and minorities are primary purchasers of franchises. These four groups see the value and opportunity of being able to run a business that is supported by an established, reputable company.
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Franchising Potential is an Amazing Opportunity
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Franchising provides the chance for an owner to build a great team, run their own business, and have financial success. A goal brought to fruition which is the quintessential American dream. Young Millennials straight out of college, minorities looking to establish themselves in a new country and seniors that long for a second rewarding career are all the newest owners of franchises across the country. A stable economy and changing marketplace have made it possible for motivated individuals from all walks-of-life to purchase the franchise of their choice and develop a successful career.
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The second major change in franchising is that franchise owners don’t just own one single unit anymore. Owners aren’t dipping their toes into ownership but rather jumping in by operating multiple locations or franchises at once. In fact, multi-unit owners run 50% of franchises in the United States. This means that one owner has purchased and operated two, three, four or many more locations. Instead of the traditional franchise owner that ran one franchise—making a modest living—today’s owners are running multiple franchises and reporting salaries into the tens of millions.
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These new demographics of owners are purchasing multiple franchises and managing them strategically for long-term, sustainable success, instead of just making day-to-day profits. Thanks to these two changes, franchising is becoming a pillar in the United States economy. While no business is free of risks, franchises offer calculated risk to enter business ownership. This significantly less risky schematic is a fit for anyone who is highly interested and motivated.
Unlike the original franchises of the 1950’s today’s franchises are open to everyone and waiting for successful leaders!
If you have ever considered opening a franchise, you are in the right place DrPhoneFix offers information and insight into franchising, small business, electronic devices, and more! We also offer franchise opportunities for motivated business individuals that are looking for a stable, growing franchise that can provide a fulfilling career and significant financial success. Contact us today to get started exploring what Dr.PhoneFix could offer you as a franchisee.
