Franchising Structure Can Be Source Of Comfort In Recovering Economy

Laredo Sun:

For many experienced businesspeople, a franchise opportunity can offer a fresh start in the business world and a new challenge. Especially during the recession, when talented executives and managers were losing their jobs at unfathomable rates, franchising remained a strong business structure, as it attracted these individuals.

“They called it rightsizing – they had all sorts of euphemisms for it,” franchisee Reynolds Corea, a 50-year-old father of two college students, told the Indianapolis Star .

“But it was a layoff.”

Fortunately, Corea and many other “corporate refugees,” as the source calls them, found a second opportunity in the strong franchising sector. In fact, franchising as an industry is preparing to grow at a rate of 2.5 percent in 2011, according to the International Franchise Association’s 2011 Franchise Business Economic Outlook.