Itâ€™s true that some franchises fail, but there are many that grow and just keep growing. These successful franchise owners often invest in multiple franchise outlets of the same type, or branch out and buy into other brands. The International Franchise Association reports that one-third of retail sold in the U.S. is provided through franchises, and that franchises employ some 7 million people. Five franchisors who have a record for rapid and varied growth include Tony Lufti (MarLu Investment Group: Arbyâ€™s, Sizzler, Jack in the Box, et al.), Dina Dwyer (Dwyer Group: Mr. Rooter, Mr. Electric, et al.), Greg Carafello (Liberty Tax Service) and Cathy Amato (prolific Subway franchisee). For more on this continue reading the following article from TheStreet.
There are some people who just can’t get enough of franchising, so much so that not only do they own multiple franchises of the same brand, but they have created or invested in more than one name.
Franchises are attractive businesses to operate if you want to own your own business but don’t want the hassle of starting something from scratch. From a franchisor’s standpoint, it can be very profitable if the product or service answers a need in the marketplace and there is an operations model behind the product or service that is efficient and easily replicable. Read on.