Franchising on The Profit Express
by Tim Healy
Listen to my interview with franchise expert and best-selling author Tom Scarda. Tom and I discuss his new book Franchise Savvy – Six Strategies Pros Use to Choose Top Performing Franchises. Tom Scarda will share questions to help you chose which is the right franchise for you. Franchising creates millions of jobs and $2.1 trillion in economic output in the US each year. Find out why franchising might be the right business choice for you. Click here to contact Tom.
If you are a Baby Boomer who has been down sized and you are too young to retire – what is your next move? Are you going to get another job? Do you really want to go back to corporate America for another 9-5er?
Have you ever considered owning your own business? What about a franchise?
Why should you consider a franchise? There could be lots of reasons. According to the International Franchise Association for the past five years, the average annual job growth in the franchise sector was 2.6 percent, nearly 20 percent higher than all businesses economy-wide. Over the last five years the franchising sector has added nearly 1 million jobs to the economy and in 2015 franchise output grew 5.6%.
And something of interest to Baby Boomers since 2008, the average age for buying a franchise has been creeping up, rising from 42 to 56 in 2015.
But there are a lot of factors to consider and questions to ask – because if franchising isn’t right for you or if you chose the wrong one – it could be a HUGE disaster.
Tom Scarda shared that you don’t want to choose a franchise emotionally. So don’t go with a franchise just because it has a big name like McDonald’s or Subway. Choose a franchise because it fits your lifestyle and can offer you the personal and financial return you are looking for.