Five Reasons to Buy a Franchise in 2009

Eden Prairie, Minnesota (January8, 2009) – Business ownership is considered the “American Dream.” Being your own boss and setting your own rules. Working to earn rewards for yourself and not just for others. Admit it: you’ve thought about it many times.

“There’s no better time to consider franchise ownership than today,” says Lori Kiser-Block, President of FranChoice, Inc., a national franchise consultant company that helps individuals find their ideal fit in a franchise business.

“In so many ways, the current economic situation actually works in favor of franchise ownership,” says Kiser-Block. “A franchisor will provide you with the training to run your business, the marketing expertise to get it going, and a proven system of operations.”

Here are five reasons 2009 may be the best time ever to buy a franchise and five strategies for making it happen:

Reason 1: Because job security isn’t so secure. Unemployment is up – way up. Major industries are cutting back. Smaller companies aren’t hiring. Everyone is waiting to see what will happen next.

Strategy: Owning a franchise will let you take control of your future. It’s your business but you have an entire organization behind you, helping you to achieve success. That’s why a franchise business is much more likely to succeed than a stand-alone, start-up business. You’re in business for yourself but not by yourself.

Reason 2: Because we’re headed into a recession. Whether we call it a full-blown recession or just a depressed economy, it’s not likely to improve anytime soon.

Strategy: Look at the numerous recession-resistant segments of the franchise industry. You needn’t be limited in your scope – there are many businesses that do well in any economy. For example, senior care is growing and expected to continue growing as the huge baby boomer population continues to age. Then there are businesses like damage restoration whose services can’t be put off until times are better.

Reason 3: Because the stock market is crashing. Have you looked at you retirement savings account lately? Ouch! Are you wondering if there isn’t a better investment for your hard-earned money?

Strategy: Did you know that your retirement savings may be a source of franchise financing and you may be able to borrow from “yourself” without penalty? A franchise financing specialist can help you use your own money to invest in a franchise business and when you pay back the loan – you’ll be paying yourself!

Reason 4: Because you’re not getting any of that bailout money. Freddie Mac and Fannie Mae are getting money from Uncle Sam. AIG and auto makers are in line for a bail out. And big corporations should see some help. But the average Joe won’t be getting anything but a bill from the IRS in April.

Strategy:Could you use a little extra wealth? Franchise ownership means you can decide if you want to own a single business or multiple locations. You can even manage other franchisees. You can create and execute a growth plan to reach your big financial dreams – and no waiting for that “trickle down” money.

Reason 5: Because the cost of rental property, fuel and goods remains stable. Why wait for prices to go up?

Strategy: You can start your franchise business now and take advantage of lower property prices. The current reduction in the price of fuel (and therefore cheaper shipping costs) means you can probably furnish and stock your business for less than you would have paid a few months ago.

Franchise ownership is challenging, says Kiser-Block. “This is not an industry for just anyone. You really need a great business background, some financial resources and the ability to think for yourself while following a system.” If you can do these things and your current employment isn’t satisfying, now may be the perfect time to enjoy the rewards of franchise ownership.