Trends in Franchising
Entrepreneur’s Source Franchise Infographic Examines Employment vs. Business Ownership
Entrepreneur’s Source Franchise Infographic Examines Employment vs. Business Ownership
Thirty years ago, the franchise industry had about 416,000 establishments generating roughly $543 billion in sales.
This year, the franchise industry is estimated to exceed $839 billion in sales, with more than 770,000 establishments that employ 8.510 million workers.
This is a $296 billion increase in sales, a 354,000 unit increase in franchise establishments and an increase of 1.510 million workers from 30 years ago.
In celebration of its 30th anniversary, The Entrepreneur’s Source Franchise created an infographic to show the difference in achieving life goals through employment versus business ownership and breaks down the benefits of self-sufficiency provided by the systemized business model of franchising.
Employment vs. Business Ownership – The Entrepreneur Advantage
Those considering the pursuit of self-sufficiency through business ownership aren’t alone.
Entrepreneur’s Source founder Terry Powell has worked with thousands of aspiring business owners across the past 30 years, and recognizes the widespread desire for self-sufficiency.
“Approximately 70 million employees either hate their jobs or are simply there to collect a pay check,” said Powell, “Why not start working on your own dream, rather than working on somebody else’s? Franchising can be a lucrative vehicle for those looking to achieve their desired Income, Lifestyle, Wealth and Equity™ Goals, because it provides a comprehensive, entrepreneurial blueprint for success.”
The below infographic outlines key facts aspiring entrepreneurs should consider when pursuing business ownership.
Employment vs. Franchise Business Ownership Summary:
- Employment has become a “working-more-for-less” reality. About 70 million employees report being dissatisfied with their job—and 66% of companies have expected their employees to work more hours than normal in the past three years.
- Small business owners see their lifestyle differently. 52% of small business owners work 40 hours a week or less—and 53% of them believe their health is better as a result of running their small business.
- Franchise businesses offer three distinct advantages over startups. Low investment, an established brand & system and ongoing support.
- The franchise industry is thriving. The number of franchise establishments is currently more than 770,000 that employ 8.510 million workers. Also, the franchise success rate after five years is an astounding 93%.
- A Coach can help find the right franchise business for you. The Entrepreneur’s Source notes that 95% of the prospective franchisees they work with discover new options that, on their own, they would have dismissed or never found.
Learn More with The Entrepreneur’s Source
Check out The Entrepreneur’s Source Start a Business Weekend e-magazine for more information on how to take the first step toward owning your own business.
Those interested in learning more about everything small business ownership, franchising and entrepreneurship should listen to the Franchise Friday podcast every Friday at 10 a.m. EDT.