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Franchise sector shows growth, especially in key areas

Florida businesses have been working hard to regain footing after the recent recession. During this time, some new businesses have even been launched, many of which have been franchises. As noted in a recent Forbes article, franchise business contracts have proven more successful in some areas than non-franchise operations in the past few years. The article noted that people with little to no formal education or experience can benefit from purchasing a franchise business because of the inherent assistance provided by the franchisor.  

The Forbes story also indicated that there are now more than 400 domestically based franchises operating internationally. A strengthening reliance on technology to power businesses is also seen in the world of franchised operations.

Franchising may not be the right avenue for every industry but according to Entrepreneur, some industries appear to excel in this manner. These include:

  • Senior services—our country’s aging population has triggered a wealth of new businesses in recent decades and now franchises are participating heavily in this market segment.
  • Children’s services—from daycare to enrichment classes, there is no shortage of franchise selections that cater to families with minor children at home.
  • Restaurants—McDonald’s is far from the only player in this space anymore. Today’s consumers can enjoy virtually any type of cuisine from franchised businesses.
  • Health and fitness—as much as America loves fast food, it also wants to be fit and trim. The popularity of businesses in this arena makes franchising a highly popular option.

The exploding world of personal consumer electronics makes future growth of franchise operations that provide sales, service or support of such products highly viable.

Entrepreneurial-minded people are more and more turning to the franchise model as a way to launch successful businesses. The simplicity and stability of franchising can be a valuable balance to the autonomy and responsibility of running a business.   

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