Executives at iFranchise Group, the nation’s leading franchise consulting firm, and attorneys from Gray Plant Mooty, one of the premier U.S. law firms specializing in franchise law, believe that now is the right time for restaurant owners to consider expanding their businesses through franchising.
After facing immense challenges over the last two years, including lower customer volume and slumping sales, the restaurant industry is believed to be finally turning the corner. Numerous industry sources and media outlets now report that in 2010, consumer confidence is improving and that spending at restaurants – though still not where it was prior to the recession – appears to be making a comeback.
The recession and resulting higher unemployment numbers have also led more people to consider independent business ownership; meaning a greater number of potential franchise owners are in the marketplace. There are even signs of business lending loosening, after a months-long credit crunch. More.