You’d think the worst economic times since the Great Depression would discourage budding entrepreneurs from going into business on their own. Yet with corporate layoffs, record unemployment rates, shrinking nest eggs and a number of other variables, many entrepreneurs are seeking franchises as a safer track to owning their own business—and that’s attracting franchise owners from a variety of backgrounds.
“It used to be your franchise owners drew more investor-types—celebrities, pro athletes and others with deep pockets looking for a turnkey operation,†said Peter Hans, CEO of Resort Maps Franchise, Inc., a franchisor and creator of more than 90 customized travel maps across the United States, England and Puerto Rico. “The economy has turned a number of franchise owners our way, either as an appealing option to corporate life and a shrinking job market or as a lifestyle option.â€
Some of the areas attracting new franchise owners include…