Many laid-off executives and managers that have found themselves the victims of ‘downsizing‘ are turning to franchising to find stability in an uncertain economy. This is especially true of older, more experienced workers who are afraid that they won’t be able to find a comparable job because of their age and the current down economy.
When you buy into a franchise business, you get marketing, advertising and training support you typically do not get with an independent business, said Alisa Harrison, spokeswoman at the International Franchise Association in Washington.
She said a franchised business allows an entrepreneur to take advantage of a proven business model and a proven brand.
“In good times and bad, a franchise allows you to go into business for yourself but not by yourself,” Harrison said.
Also, despite the down economy there are franchise sectors that will grow in 2009. Some of these include green franchises, energy franchises, internet/technology businesses, fitness and health foods, and senior care franchises. So before you update your resume, this may be the time to consider purchasing your own franchise business.