If you've ever considered investing in a franchise, now is the time to do it. One Web-based franchise marketplace has predicted a surge in purchasing opportunities as the current franchise owner base approaches retirement age.
Franchise Resales, a resource for franchise information and sales, believes that changes in America's economy and demographics have created a "perfect storm" of conditions for buying a franchise. Members of the baby boomer generation own more than 100,000 franchise businesses. As these individuals age and begin to make the transition into retirement, they are putting their businesses on the market for potential buyers. The increased availability of startup funds and confidence in an improving economy have also contributed to the creation of an ideal franchise market.
"The economic storm America has weathered seems to be over, and many small, franchised businesses that survived are now available," said Nancy Estep-Critchett, owner of Franchise Resales. "For a motivated, savvy operator that is looking for a great deal, a franchise resale is the perfect option."
The primary advantage of purchasing a franchise is its existing business model. Instead of having to build the business, brand and customer base from the ground up, a franchise owner can rely on the company's past success to quickly market and expand his or her branch. However, opening a new franchise is often expensive, so purchasing one from a current owner can mean a significantly lower price tag.
Estep-Critchett predicts that the primary buyers of resold franchises will be older, experienced businesspeople who are retiring from their office jobs, but don't want to leave the business world just yet.
For more information on owning and choosing a franchise, visit our franchising guide.
Originally published on BusinessNewsDaily.