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Franchising - What makes it so popular?

Tired of the rat race and want to regain work or life balance? Thousands of people are finding the solution to their career problems: franchising.

According to one study, if given the choice, 98 percent of people would make the decision to establish an international franchise system again. Franchising can make the dream of owning one’s own business a reality, with the ‘safety net’ of being part of a larger corporation.

The growth of franchising has been recognized in strong market economies, including the United States and Western Europe. In the USA, franchising generates $1 trillion (yes, you’re reading correctly) worth of business in gross sales and represents 50 percent of retail trade. Success stories are popping up all over the world, including Eastern Europe, the Middle East, and South Africa.

Franchises have impacted positively on employment opportunities all over the world. According to a 2004 study, in just the USA alone, more than 760,000 franchised businesses directly employed about 9.8 million Americans. They provided $506 billion in payroll and stimulated an overall economic output of $1.53 trillion, or nearly 10 percent of the private-sector economy.

For the ladies, the amount of women owning a franchise has increased above 20 per cent over the years. 63 per cent of women, who solely run a franchise reported that they are highly profitable, compared with 43 per cent of men.

Despite the popularity, the global marketplace is far from saturated. In fact, the growth potential for franchising worldwide is exponential. To find out whether franchising is for you, and if so, which type of franchise opportunities suits you best contact the brandEXPANSION Team today.

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