Owning a franchise is a key part of “the American Dream” of owning your own business. Franchising is a huge industry with over 3,000 brands represented by over 785,000 franchise establishments in 2020.
Why is Owning a Franchise So Attractive?
For starters, buying a franchise allows an entrepreneur an opportunity to buy into an established concept, one that has a track record of success and some established brand recognition, compared to starting something completely unknown from scratch. A franchised brand offers an established operating system and the training programs to operate a business properly. It also provides ongoing operational support. An existing franchise will provide marketing direction and assistance, real estate, and construction assistance. It will also provide purchasing direction, assistance, and purchasing power. And, many franchises offer some form of financing assistance. Overall, there is a reduction of risk in buying a franchise.
Why Now Is the Perfect Time to Buy Into an Existing Franchise
While the COVID-19 pandemic constrained and upset many economic factors, the environment for buying a franchise is indeed bullish for these reasons:
• There are still a lot of people that are either without a job or who want to pursue new opportunities in new parts of the country. Many people don’t want to go back to an office or deal with the traditional employment grind. Franchising offers new opportunities. And, franchises are job creators.
• As the pandemic turned the corner, many franchises have performed above general market rates.
• There is an abundance of commercial real estate available, so franchises needing brick-and-mortar locations will find many good choices and value prices.
• Favorable market locations have made good funding available from many lenders, along with funds freed up by the CARES Act.
Seek Expert Financing Assistance For Your Franchise Dream
Contact Aspen Capital Solutions for customized financial solutions to meet your needs. We provide expert funding assistance with a wide range of financial products.