The concept of “franchising” or licensing operators originated decades ago and has become very popular ever since. It has been said that 1 out of 12 businesses in the states is a franchise.
Franchising is so popular because it allows entrepreneur to own and operate their own business, profit from the use of an established brand name, and benefit from a proven system of operations. Franchise companies also provide guidance and consultation on personnel, training, audits and controls, and share in the success of an established marketing plan. A smoothie franchise can give you access to a successful proven business system.
Important Franchise Facts:
- Franchise operations in the United States account for 42% of all retails sales.
- Retail sales for franchises are expected to reach $1 Trillion in Year 2000.
- According to the US Department of Commerce from 1971 to 1987, less than 5% of the franchise businesses were closed each year.
- Arthur Anderson & Company found in 1991, almost 86% of all franchises opened in the previous five years was still under the same ownership and 97% were still in business.
- Conversely, according to statistics from the US Small Business Administration from 1978 to 1988, 62% of all non-franchised businesses closed within the first six years due to failure, bankruptcy, retirement, or other reasons.
- More than 8.5 million Americans are employed by franchised businesses
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