Historically, economic downturns have been among the best times for people to start franchises. That may be hard to believe on the surface, but it has been true, according to this business/franchise blog.
Many people who have lost their jobs become intrigued with the idea of having a career in which they can control their destiny and not have a boss, so they turn to becoming a franchisee.
With the COVID-19 pandemic causing unemployment rates to soar quickly, starting a franchise might be on people’s minds. Diana Trondsen, a small business and franchising expert who is also a consultant with FranNet, offered five suggestions for those interested in starting their own franchise.