Why are startup businesses struggling in today's market while franchises are zooming?

Well, a recent study released by Franchise Insights showed that consumer preferences for franchises over startup businesses have tripled since COVID in the last two or three years.

Why is that?

One reason is that franchises have proven systems and performance.

When you become a franchise owner, you're buying into a business model that has already been tested and refined.

This means that your franchise business is likely to perform 30%, 40%, or even 50% better in the market and last a lot longer than a startup.

Another reason is the social and business coaching aspect of franchising.

When you franchise your business, you're not just getting a proven system; you're also getting support, training, and coaching from the franchisor and other franchisees.

This can be invaluable when you're trying to navigate the challenges of running a business.

On the other hand, startup businesses often lack this support.

When you're starting a business from scratch, you have to spend half your time figuring out systems and processes, and there's no social component to help you along the way.

In fact, starting a business can be a very lonely endeavor.

Even if it's your dream, that dream can wither on the vine when you're by yourself, with nobody to turn to for support, training, or coaching, and you don't know how to solve problems.

So, it's no wonder that more and more people are turning to franchising as a way to achieve their business goals.

If you're considering buying a franchise, it's worth seeking out some franchise advice to help you make the best decision for your future.

With so many successful business ideas and unique business ideas available through franchising, it's an excellent opportunity to build a profitable business and create passive income.

In conclusion, there's a good reason franchising is booming today, and it's likely to keep booming for the next 10 years.

If you're looking for a way to achieve your business dreams, it might be time to explore the world of franchising.



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