North American Press Syndicate:
Companies with environmentally friendly business practices aren’t just green; they could be seen as evergreen, thriving even when the economy isn’t.
In today’s tough economy, scores of skilled and educated individuals are finding themselves without jobs. In many cases, these newly laid-off individuals have been in the workforce long enough to have a solid skill set and enough money saved up-or a strong enough credit history-to go into business for themselves. Many will choose franchising.
The franchising sector continues to prove its place in the U.S. economy. According to the International Franchise Association, the franchise sector grew by more than 18 percent from 2001 to 2005. During that time, franchising brought more than 140,000 new businesses and 1.2 million new jobs to the U.S. economy.
Particularly attractive in a slower economy is the likelihood for success franchising offers. The U.S.
Department of Commerce assessed the failure rate for franchises as a miniscule 5 percent or less per year, with 86 percent still operating after five years. Estimates of failure for independent businesses indicate that 68 percent do not survive the first five years.
Green franchises are proving to be even more downturn resilient. According to Green Economy, a firm that promotes an environmentally healthy workforce, green businesses have been growing at a rate of about 5 percent annually during the last three years.
One green company currently franchising, ShredStation Express, a paper and electronic media destruction and recycling company, has been experiencing dramatic increases in its franchise growth-despite a less-than-stellar economy.