During this FranNet blog installment, we’re excited to talk about franchise trends that are good for entrepreneurs. Trending topics are always a good staple for blog entries, as it keeps our readership on the leading edge of franchise industry news. We’re happy to report that of the franchise trends we’ll be talking about today, the news is really good for those considering an entrepreneurial journeys.
With a host of recent economic data to back things up, it’s safe to say that the overall outlook just keeps getting better. A raft of good economic news updates usually favors the flow of credit and lending—something of great importance to future franchisees. For those on the sidelines waiting for the great recession to wind down, it may finally be time to get in the game.
The International Franchise Association (IFA) has recently released its 2015 outlook and it paints quite a rosy picture for entrepreneurs. Taken directly from the report:
“Franchising is a vital engine of economic expansion in the United States and 2015 looks to be another strong year for franchise businesses. With continued job gains, consumer spending will accelerate creating the conditions for another strong year of growth for franchise businesses.”
The report also predicts the following statistics: a 2.9 percent growth rate in franchise-related jobs, over 12,000 new franchises (will you be among them?), and over $888 billion in franchise-related output—a 5.4 percent increase over last year’s numbers.
Among the specific franchise trends that are good for entrepreneurs is the news that the tech sector continues to be red-hot. There are many technology related franchise business opportunities in the marketplace today and concepts such as computer repair, Internet marketing and IT consulting have always been among our recommended choices for businesses that do well in any type of economy.
Lastly, one other shining example of franchise trends that are good for entrepreneurs are the statistics showing a high level of growth in multi-generational small businesses. It appears as if the baby boomers have teamed up with their millennial family members to create inter-family franchise opportunities. The boomers have the capital and willingness for a retirement career and the millennials are well known innovators and risk takers.
Whatever your current thoughts may be, 2015 is shaping up to be a powerful year for franchise trends that are good for entrepreneurs. If you’ve been planning and considering your journey, the timing may be just right for a qualified consultation session.
Do you feel that you’re ready to get started? If this article has inspired you to investigate a franchise opportunity, perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. As it turns out, FranNet of NJ & NY is just the place! As a franchise consultant company with a great track record of assisting individuals on their path to business ownership, make arrangements to speak with one of our representatives today.