Today, Direct Capital Blog is hitting you with a piping-hot plate of news from around the world of franchise. Get your forks and knives ready.
“A Glimmer Of Hope”
Franchises typically weather economic downturns about as well as anybody, so the fact that the industry dipped during the latest recession was a slight upset. The International Franchise Association recently told Chicago Business that there are signs that the industry is on its way up, which is welcome news for franchisors and franchisees alike:
The IFA report projects that the number of franchise businesses will rise this year to 784,802, a 2.5% increase. “We see a glimmer of hope for the franchising business. It’s a very resilient industry,” says Stephen Caldeira, IFA president and CEO.
Cross your fingers in the hopes that the 2.5 percent ends up being a conservative estimate.
Vets Bring Military Discipline To Entrepreneurship
Very cool article here from our friends at Crain’s New York Business, who profile a handful of military veterans who are making a big splash locally in the world of entrepreneurship. Those who are making it, like former Marine Sang Cho and his $30 million dry cleaning business, are doing so thanks in part to the discipline, willingness to work hard and attitude engendered in them from a career in the military.
“I don’t walk around our plants with an M16,” Mr. Cho said. “But the basic qualities of determination and refusal to give up on problems, which the Marine Corps teaches you, are part of my job every day.”
Veteran and entrepreneurial success? Those go together like chocolate and peanut butter.
Franchises For The Over 50 Crowd
The AARP Bulletin (who else?) has a lengthy article about the five best franchise fits for those entrepreneurs over 50 years of age.
What makes the final list? The top five from the AARP are floor coverings, tax services, in-home senior care, auto financing and car service centers. The criteria is essentially ease of startup, how demanding the work is and the established track record of success for that slice of the industry.
If you’re thinking about striking out on your own and you’re reasonably close to the age criteria, this is well worth a read.
Got franchise news tips? Let us know!