Recently retired from the Merchant Marines, Robert McKay started looking for something to occupy his time.
Thatâ€™s when he saw a franchise opportunity in a magazine and decided â€œthis is something I would like to do with my two boys,â€ he said.
At a time when credit markets are locked up and beginning a small business is a dream for many, Mc-Kay is looking to buck the trend with his shrink-wrap business. With a $34,000 investment â€“ $22,500 of which was the franchise fee â€“ McKay recently became the first Fast Wrap franchisee in Florida.
Franchising is expected to see a decline in the number of businesses, jobs and economic output, according to a report released earlier this year by the International Franchise Association in Washington, D.C.
â€œBanks just arenâ€™t lending, and that is slowing down the significant growth we have seen in the past,â€ said Alisa Harrison, the IFAâ€™s VP of communications and marketing.