Everyone likes a sure thing. Especially when it comes to their pocketbook.
The franchise industry is on the rise, with 784,802 franchises projected to be in business by year’s end. At the end of 2010, there were 765,723 franchises, according to the 2011 Franchise Business Economic Outlook, published by The International Franchise Association.
The reason? Patrick Walls, chief operating officer of Capriotti’s, said it’s because people want a sure thing.
Investors are more likely to pour their money into these turnkey businesses during uncertain economic times than an independent venture. Full post.