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Entrepreneurs flock to Franchising as Economy Strengthens
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As the economy begins its long recovery, thousands of employees and former employees are turning to proven franchise systems for the career stability they fear no longer exists with many corporations.
There are, of course, hundreds of factors that drive individuals to seek a business opportunity of their own-a bad day at the office, an overbearing boss, or fear of losing a job with no notice. But there are three fairly predictable factors that are driving franchise sales today.
First, high unemployment stats cause those with any inkling of entrepreneurship to seek alternatives to control their own destinies. Many who have lost their jobs realize they may never be able to replace their past levels of income working for another firm. Often, they will seek the support of a proven franchise system.
Another factor affecting interest today is the stock market. While it has made significant gains in recent months, trillions of dollars are on the sideline because of a lack of confidence that equities will provide long-term stability. Franchises and small-business ownership offer a potentially high return alternative, often at a relatively low risk.
A third driver of franchise sales is credit availability. A combination of reduced home values, reduced equity and tight credit from traditional lenders has forced some buyers to seek less expensive franchises, or those that offer franchising with little or no collateral.
Cliff Welles, ASID, the regional director for 18 Decorating Den Interiors franchisees in south Florida, believes that company financing is critical for his franchise. ?When we find an otherwise well-qualified candidate, it is mutually beneficial for us to help them get into business,? explains Welles. ?Our franchise owners are largely creative, energetic, entrepreneurial women who have a passion for design, and often bring excellent skills and experience to their expertise. We?re happy to help them by financing a portion of the $29,900 franchise fee so that their available cash can be used for a successful start-up.? Franchises are required to pay as little as $7,400 down, and can pay the balance over 72 months.
Recognized by Entrepreneur Magazine as one of the top 100 franchises in the nation, and ranked among the top 50 in franchise satisfaction by Franchise Business Review, the 40 year-old residential and commercial interior decorating firm offers a unique blend of creative freedom and best business practices.
With available locations from Vero Beach to Key West of Florida?s east coast, and from Bradenton to Marco Island on the west coast, Welles sees a tremendous opportunity for entrepreneurs in this re-emerging industry as consumer confidence improves.
?As the economy regains its momentum, many are realizing that this is the right time to start a new business of their own. The freedom, flexibility, and support of a franchise are all attractive,? says Welles. ?Opportunities are increasing because people are focusing more on their homes and home improvements that have been deferred for several years. For entrepreneurs who have an eye for design, good people skills, enjoy team support and great income potential, now is a great time to enter to the design field, especially since our franchises is a low-cost, home-based business.?
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SOURCE
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