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When asked on LinkedIn, “Would you start a franchise during a recession?”
50% of respondents answered “Yes!- I need some control.”
According to Investopedia,
A recession is significant, persistent, and widespread contraction in economic activity.
U.S. recessions have become shorter and less frequent in recent decades.
Recessions are typically preceded by monetary and fiscal tightening, and often prompt a reversal of those policies.
According to Wikipedia, the average duration of recessions since World War II is 10 months.
Strong economy versus Slow economy
Research Timing
Benefits and Timing
Service or Retail Based
Questions to ask
Who to talk with when researching
Lessons learned
Franchisor partnerships
Qualities needed
What to “let in”
Melissa Lewis, Founder & CEO of Franchisologist, takes you through an high-level view of how and what to consider when buying a franchise during a recession.
She shares her 20+ years in franchising to discuss timing, what types of franchises to research, how to choose a great franchisor, what franchisees learned from the Great Recession, and the qualities needed to start a franchise in an uncertain time.
Dream BIG!
Whether you’re just visiting to gain some insight or are serious about making a change.
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Click the link below to learn more or click here to schedule a no-obligation, free call.
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