Despite slow growth, the economic outlook for businesses, franchises and opportunities is still positive. According to the International Franchise Association, franchise business establishments are projected to increase by 2 percent in 2010, with the gross value of franchise goods and services expected to increase by nearly 3 percent.
Personal services opportunities are expected to grow the most, with projections of 4.4 percent. Quick Service Restaurant opportunities and Business Services Franchises could see 3.2 percent and 2.6 percent growth respectively.
Starting a business with a franchise gives the entrepreneur an advantage over starting from scratch. Franchises are attractive business opportunities as they offer a proven system of product or service delivery as well as training and marketing support.
There are many franchises and many opportunities for someone who wants to be their own boss. Franchise opportunities can be home-based, or even van based. They may be run out of an office, an industrial park, or may require complete build out. Restaurant franchises with value menus continue to make revenue in this recession. The size and initial investment vary greatly from franchise to franchise.
If you’re thinking about starting a business in 2010, starting a franchise business may be the best way to go.