Are franchises safer in hard times?
Franchises are always a good bet as they are supposed to be a safer investment than starting your own business. But are franchise opportunities also safer during these tough economic times? The Times New Zealand has an interesting point of view. I invite you to read the full article, but here is a excerpt from it:
IN TOUGH economic times, franchises are a relatively safe way of doing business. This is evident in the 2008 Standard Bank Franchise Factor survey, which showed that only about 3 percent of franchises fail, whereas the percentage of failed start-up businesses is much higher. The survey showed that, between 2006 and 2008, the contribution to GDP by the franchise sector rose to 12.57 percent from 12 percent and the sector created 3600 new businesses.
Filed under: Franchise Talk
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