As the economy continues to turn the corner in the New Year, according to one franchise expert it may be the right time for hopeful entrepreneurs to take the leap.
“If the banks start making more commercial loans available for franchise start-up businesses, 2010 looks to be a good year for the franchise industry,†said Joel Libava, known in the industry as The Franchise King for his role as matchmaker, lining up potential franchisees with suitable parent companies. “I hope more people will get into businesses of their own and hope banks can help things change.â€
No question, meeting the needs and wants of 74 million aging U.S. baby boomers will be a dominant trend in the franchising industry for 2010 and for years to come, Libava said. He cited a demographic study done by AARP that concludes the oldest of the boomers will begin turning 65 in two years. Their numbers are expected to swell the ranks of retirees until 2030, when they’ll comprise 20 percent of the U.S. population. Full article.