Many of us have considered opening franchises in the past or are actively looking for one to open. Franchising has been around in the United States since the 1850s and there are currently over 1500 franchise-able brands. Approximately 4% of all businesses in the United States are franchises accounting for billions of dollars of sales every year.
There are several advantages to franchising: benefiting from an already successful or tested businesses model, sharing risks with a larger amount of people, technical support for problems, marketing and brand names are already well known, and finally, you are your own boss. These advantages have helped a franchise boom since the 1960s, with the ubiquitous McDonald’s the clear-cut leader in world wide franchises.
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