5 Reasons for Franchise Growth in 2012

It looks like 2012 will be a great time for franchise growth opportunities, according to Joe Libava, a franchise-acquisition consultant and author of Become a Franchise Owner!

 


 
Libava has come up with 5 reasons this year may be the right time to purchase a franchise.
 

More Credit Available

 
The International Franchise Association has been working closely with banks and lenders regarding credit availability. This year, the franchise industry as a whole has grown despite the economic recession, and is expected to grow more in 2012. Particularly, franchises in health care, automotive, business services and personal services are growing.
 

More ways to Finance + Partnership Opportunities

 
There are more opportunities to finance now than just bank loans, according to Libava, such as borrowing against equity in homes or rolling over 401(k) into a business. Also, in the bleak economic market, people are looking to partner with each other in business opportunities, and franchises are a great market in which to do that. Check out Share a Franchise, a new site that allows you to find a partner interested in the same opportunity as you!
 

Commercial space is (vastly) available

 
Another effect of a downtrodden economy – there are more spaces available at good prices than there have been in quite some time. It’s a buyer’s market, and leasing or buying commercial space is easy because vacancy rates are up.
 

Franchisors are willing to help with expenses

 
In the current economy, franchisors know they need to make it more affordable to own and operate a franchise, and they’re willing to help. For example, Doody Calls, a pet waste removal company, is currently offering new franchise owners a $12,500 reimbursement in advertising costs the first year, as long as the money was spent in alignment with the company’s overall franchise marketing strategies.
 

Lots of “talent” ready to hire!

 
Yet another outcome of the current economic environment – there are plenty of qualified candidates looking for work, and franchisees will have their pick. As entrepreneurs, franchisees have the opportunity to help the economy with job opportunities through their franchises. It’s a win win.
 
Information found in The Street