Franchise Development Propelled by More Prospects Leaving Full-Time Jobs

February 5, 2025

February 5, 2025 – Franchise development faces reduced competition from employers for the best candidates. Return-to-work mandates, cost-cutting, and increasing automation by employers are compelling more individuals to conclude that now is the time to buy a franchise and move forward on the path of “being my own boss”, the leading motivator for business ownership.

Are You Betting On The Best Practices For Reaching Franchise Prospects?

January 29, 2025

January 29, 2025 – Franchise prospects want to know who is calling before accepting a call. More than thirty-seven percent (37.2%) of respondents indicated that they preferred to be emailed first as an initial contact by a franchise they have expressed interest in, according to the recent December 2024 Franchise Insights Mystery Shopping survey. 

Natural Disasters Significantly Impact Franchise Lead Generation

January 14, 2025

January 14, 2025 – If your franchise sales team is noticing a decrease in lead generation in recent days, they are not alone. Despite a great start to the year, California is experiencing a significant drop in inquiries – down 21.3% through January 13, according to proprietary data from the Franchise Ventures lead generation platform of franchise investment inquiries in the United States. 

Record Share of Business Startups Planned Within 2025

January 1, 2025

January 1, 2025 – Monthly surveys of buyers actively seeking franchises and businesses for sale have shown an increasing inclination to start businesses in the ensuing twelve months when asked about their time frames. In late December 2024, a record 93.0% said they planned their business startups for within the next twelve months, in continuation of an upward trend since the beginning of 2023.

Training And Support Outranks Work Flexibility Among Most Desirable Franchise Characteristics

December 17, 2024

December 18, 2024 – In almost five years of surveying for characteristics that make franchises attractive, “low cost of entry” and “higher earnings potential” have consistently been ranked most important by individuals seeking business ownership. ‘Extensive training and support’ edged out “ability to work from home’ in the November survey.

Funding and Political Concerns Drop Among Aspiring Business Owners

December 4, 2024

December 3, 2024 – While funding is perennially the biggest concern, 41% of respondents think financing will be easier in three months. Now 68.9% of aspiring business owners surveyed either agree or strongly agree that “now is a good time to start a business,” showing optimism about conditions now and ahead. In the November 2024 survey, 86.9% of respondents see conditions for business and franchise startups “the same or better in three months.” 

Franchise Prospects Report Improving Contact Attempt Rates In Recent Months

November 26, 2024

November 26, 2024 – Initial contact attempts by franchisors to inquiring prospects rose substantially over the last six months  as reported by the latest FranchiseInsights.com “mystery shopping” surveys from June to November 2024.  In November 2024, over 60% respondents reported that they were contacted by all of the franchises they inquired about.

Texas, Illinois and New Jersey Gain the Most In Franchise Interest as California Decreases

November 20, 2024

November 20, 2024 – In a year-over-year analysis, interest in franchises migrated eastward and selectively southward according to new data from FranchiseInsights.com. By comparing quarterly shares by state of inquiries about franchises for the third quarter of 2023 to the third quarter of 2024, there was a continuation of the shift in the mix of where aspiring franchisees were expecting to locate franchises

Franchise Development Prospects Share Their Perceived Strengths

November 13, 2024

November 13, 2024 — Almost 57% of franchise prospects in recent surveys attested to their “willingness to follow a proven system”, an essential ingredient for succeeding at franchise ownership.  Grit, or “persistence towards a goal despite obstacles” was cited by over half (53.2%) of respondents, followed by “team leadership experience” at almost 40%.

Aspiring Business Owners See Clear Skies Ahead

November 6, 2024

November 6, 2024 – Now 75% of aspiring business owners surveyed either agree or strongly agree that “now is a good time to start a business,” showing optimism about conditions now and ahead, the highest percentage in more than three years. In the October 2024 survey, 90.7% of respondents see conditions for business and franchise startups “the same or better in three months.” 

Most Franchise Prospect Journeys Begin With A Narrow Focus On Just A Few Concepts

October 29, 2024

October 30, 2024 – One consistent observation on franchise buyer behavior over almost five years of website journey analysis is how quickly researchers parse among many options to narrow their focus to a few for further inquiry. Most prospects only focus on a single concept when requesting information about franchises, despite the thousands of offerings across dozens of categories in the franchise directories of the Franchise Ventures lead generation platform.

With A Billion Political Texts Per Week, How Are You Most Likely to Reach Prospects?

October 22, 2024

October 23, 2024 – Both political parties have discovered the effectiveness of blanketing mobile phones with fundraising texts. According to YouMail, which offers call and text-blocking apps, political texts alone may be approaching one billion per week in October 2024. How do legitimate franchise representatives get through to sales prospects who want to hear from them?

Insights Into the Buyer Search Path to Franchise Development Websites

October 16, 2024

October 16, 2024 –We routinely ask prospects why they visited franchisor site(s) after submitting an inquiry at a franchise directory website, or portal, to gain insight into this behavior. The overwhelming response, at 49.4%, was “I was very interested and just wanted to learn more.” Another 34.2% wanted to “prepare before having a conversation” with franchise representatives.

Concerns about Funding and Access to Credit Are Finally Receding among Business Buyers

October 2, 2024

October 2, 2024 – Fully two-thirds (65.6%) of aspiring business owners surveyed either agree or strongly agree that “now is a good time to start a business,” with optimism about conditions ahead. In the September 2024 survey, 92.7% of respondents see conditions for business and franchise startups “the same or better in three months.” 

Prospects Sound Off on Their Satisfaction With the Franchise Sales Process

September 24, 2024

September 25, 2024 – Persons inquiring about franchises were mostly satisfied with their experiences, according to recent franchise prospect surveys over the five months ending in September 2024. Almost half (43.5%) said they were either “satisfied “or “very satisfied”, and only 19.2% said they were “unsatisfied or very unsatisfied.” 

Many Franchise-Seekers Already Own Businesses

September 17, 2024

September 18, 2024 – Data from over five years of surveying aspiring franchise owners shows  that about 15-20% already own at least one business. The percentage has varied month-to-month over this time span, which includes the pandemic-affected years, but consistently represents a significant slice of aspiring candidates for franchise development. 

Franchises Preferred Over Startups from Scratch or Legacy Businesses For Sale

September 10, 2024

September 10, 2024 – Individuals interested in business ownership preferred the option to “buy a franchise” over acquiring an existing business by a significant margin in the August business buyer survey. While almost 60% indicated interest in the franchise purchase option, only 42.3% were interested in buying an existing business for sale.

Business Buyers Look Beyond the November Election for Their Startups

September 3, 2024

September 4, 2024 – Almost 63% of aspiring business owners surveyed either agree or strongly agree that “now is a good time to start a business,” with optimism about conditions ahead. In the August 2024 survey, 93.3% of respondents see conditions for business and franchise startups “the same or better in three months”, the highest reading since September 2021. 

With Lots of Options to Choose From, How Do Prospects Find Your Franchise Brand?

August 28, 2024

August 28, 2024 — Only about seven percent of aspiring franchise owners are already “very familiar” with the franchises they inquire about on franchise portals, and another 19% are “already somewhat familiar” with them, according to recent surveys of interested franchise seekers on the FranchiseVentures lead generation platform in July 2024.

More than Financial Rewards, ‘Being My Own Boss’ Motivates Franchise Seekers

August 13, 2024

August 14, 2024 – What motivates franchise seekers? Since we last reported on the motivations of aspiring franchise owners at the end of 2023, wars in Europe and the Middle East have continued, and concerns about political change have risen among individuals wanting to own their own businesses. But the primary drivers for business ownership have changed little.

Almost Three-Quarters of Aspiring Franchisees Expect Their Startups Within Six Months

August 6, 2024

August 7, 2024 – About 58% of aspiring business owners either agree or strongly agree that “now is a good time to start a business,” with optimism about conditions ahead. In the July 2024 survey,  79.5% of respondents see conditions for business and franchise startups “the same or better in three months” and those seeing the conditions “better or much better” rose to a five-month high at 31.5%

Two Strong Months of Prospect Contact Attempt Rates Precede a Dip in June

July 16, 2024

July 17, 2024 – After two successive months of higher prospect initial contact attempts, rates dipped  as reported by the latest FranchiseInsights.com “mystery shopping” survey in June 2024.  More than half of respondents say they were contacted by all of the franchises they inquired about in April and May, at 50% and 57.1% in April and May, respectively. 

Small Business Startup Sentiment is Steady, as Demographic Mix Shifts

July 9, 2024

July 10, 2024 – Over 59% of aspiring business owners either agree or strongly agree that “now is a good time to start a business,” with optimism about conditions ahead. In the June 2024 survey,  over 82.7% of respondents see conditions for business and franchise startups “the same or better in three months.” 

Today’s Franchise Development Prospects Desire to Follow a Proven System

July 2, 2024

July 2, 2024 — In our June 2024 survey, almost two-thirds (66.3%) of respondents claimed  “willingness to follow a proven system”, an essential characteristic for succeeding at franchise ownership.  Grit, or “persistence towards a goal despite obstacles” was cited by over half of respondents (50.6%) of respondents, followed closely by “team leadership experience” at 47%.

Franchise Interest Resumes Migration To The South and East for Franchise Development

June 26, 2024

June 26, 2024 – In a year-over-year analysis, interest in franchises shifted to the south and east according to new data from FranchiseInsights.com. By comparing quarterly shares by state for the first quarter of 2023 to the first quarter of 2024, there was a continuation of the shift in the mix of where aspiring franchisees were expecting to locate franchises.

Franchisee Prospects Continue to Focus on Just a Few Concepts for Research

June 19, 2024

June 19, 2024 – Franchise buyer behavior has changed in many ways in the four years since the global pandemic began. One aspect, however, has stayed the same: most prospects still only focus on a single concept when requesting information about franchises, despite the thousands of offerings across dozens of categories in the franchise directories of the FranchiseVentures lead generation platform. 

Do You Know Where Lead Referrals to Your Franchise Development Website Are Coming From?

May 28, 2024

May 29, 2024 — Cost per lead is often a key decision factor when evaluating franchise directory websites (portals), assuming quality standards are met. But leads submitted at franchise  directory websites also result in substantial referral visits to franchisor websites, in addition to being a significant source of leads submitted at development websites…

Franchise Lead Generation Search Results Get an AI Facelift

May 21, 2024

May 22, 2024 – “AI Overviews” have arrived for Google search results, after months of testing. Announced at Google’s I/O conference May 14, the experience will become available for most searchers over the next few months. The impact on Google’s $200 billion advertising is unknown, but presumably they would have thoroughly tested the impact on paid search revenues.

Can the Franchise Sales Process be Improved? Just ask Prospects.

May 15, 2024

May 15, 2024 – Persons inquiring about franchises were mostly satisfied with their experiences, according to recent mystery shopping surveys over the six months ending in April 2024. Over  half (50.9%) said they were either “satisfied “or “very satisfied”, and only 17.4% said they were “unsatisfied or very unsatisfied.” 

What Kinds of Businesses Do Aspiring Franchisees Already Own?

May 8, 2024

May 8, 2024 – From over four years of surveying aspiring franchise owners, data show that between 15-26% already own at least one business. The percentage varied over the pandemic years and exhibits some seasonality, but consistently represents a significant slice of aspiring franchisees. 

A Best Practice For Better Contact Results With Franchise Prospects

April 23, 2024

April 24, 2024 – In four months of survey data from January to April 2024, only 14.4% of respondents are “very likely,” and another 15.4% say they are “likely” to take a cold call from you. The traditional “call first” approach will likely lead to your frustration with about one third of franchise leads, and reduce the chances of more productive conversations with informed prospects.

Employment Data Bodes Well for Franchise Development – Fewer Applicants Coming From Full Time Jobs

April 10, 2024

April 10, 2024 – Franchise developers have been swimming upstream against a tide of employers clinging to full-time workers since the post-pandemic return to work. Over the last year, fewer aspiring franchise owners were leaving full-time jobs. In our March 2024 Small Business Startup Sentiment survey, franchise seekers who say they are leaving full-time jobs reached a four year low at 36.9%, as U.S. employers shed full-time workers.

Record Share of Franchise Seekers Upbeat About Startup Conditions Ahead

April 3, 2024

April 2, 2024 – Over 61% of aspiring business owners either agree or strongly agree that “now is a good time to start a business,” with optimism about conditions ahead. In the March survey,  a record 89.3% of respondents see conditions for business and franchise startups “the same or better in three months.” 

Franchise Prospects Indicate Preferred Sequencing for Initial Contact Channels

March 27, 2024

March 27, 2024 – Most franchise prospects (42.4%)  prefer to be emailed on initial contact by a franchise they have expressed interested in according to fresh data in the March 2024 Franchise Insights Mystery Shopping survey. Another 30.6% indicated a desire for a phone call for the initial contact. This order preference is consistent with prior monthly “mystery shopping” surveys, including when we last shared franchise prospect contact preferences data.

Best Practices For Initial Response to a Franchise Informational Inquiry

March 27, 2024

The optimal order for following up with franchise prospects is about playing the odds. Segments of the pool of franchise leads prefer one of the nine permutations of three contact methods (email, voice and text), but to have the highest expectations of fruitful contact, especially given the 24/7 nature of lead flow, it pays to listen to what prospects want overall. 

Aspiring Business Owners Choose Franchises Over Startups or Businesses For Sale

March 12, 2024

March 13, 2023 – In a February 2024 survey, aspiring business owners preferred the option to “buy a franchise” over buying an existing business by more than a two-to-one margin. While 65.3% indicated interest in the franchise purchase option, only 31.6% indicated an interest in buying an existing business for sale.

Share of Aspiring Franchisees Expecting Startup Within Three Months Reaches Record

March 6, 2024

March 6, 2024 – Over 63% of aspiring business owners either agree or strongly agree that “now is a good time to start a business,” on an upward trend beginning a year ago. In the February 2024 survey,  87.4% of respondents see conditions for business and franchise startups “the same or better in three months.” A record 62.1% of entrepreneurs planned their startups within the next three months, and 75.8% within the next six months. 

Franchise Development Teams Expect to Increase Google Spending More than Meta and LinkedIn in 2024

February 28, 2024

February 28, 2024 – When asked about advertising plans for 2024,about a third of franchise development teams expected to increase their spending somewhat or significantly at Google, Meta or LinkedIn. This is following 2023 wherein, despite tumultuous business conditions and shocking news headlines, more than 58% of franchisors surveyed either stuck to their growth plans (50.0%) or increased them.

Middle Tiers of Franchise Systems Revved up Their Expansion Plans the Most in 2023

February 21, 2024

February 21, 2024 – Despite sagging consumer confidence, tighter credit and labor, and a volatile year in the financial markets, most franchise systems either stuck to their growth plans and ad budgets for 2023 according to a December survey by FranchiseInsights.com. But the adjustments to expansion plans varied significantly by the size or maturity of the franchise system.

Franchise Development Teams “Lean In” To LinkedIn for Franchise Lead Generation

February 14, 2024

February 14, 2024 – Signs from a number of metrics (time spent, monthly active users) and media reports are that we may have reached “peak” social media as measured by postings, monthly active users and time spent. The Wall Street Journal posits in a recent article that users are doing a lot more lurking than posting these days and foresees more of the same in this election year, along with mounting concerns about privacy.

Small Business Startup Sentiment Surges to Highest in Over a Year

February 7, 2024

February 7, 2024 – Prepare for launch! January startup sentiment data show 84.5% of aspiring franchisees plan their launches in the next twelve months, the highest percentage seen since December of 2023. The first of our Predictions for Franchise Development and Lead Generation for 2024 is looking very much on target.

Predictions for Franchise Development and Lead Generation for 2024

January 31, 2024

January 31, 2024 – The most reliable options for franchisors to directly acquire prospects in recent years – email and text marketing, paid search and social media – are all undergoing significant change, as are the dominant mobile and desktop platforms offered by Google and Apple (and a few others hardly worth mentioning).

Franchise Development Teams Face Growth Headwinds in Paid Search

January 24, 2024

January 24, 2024 – In our last article, we highlighted some of the headwinds facing advertisers who generate franchise leads from Google. Traffic exclusivity from Apple, antitrust and regulatory court proceedings threaten Google in 2024, along with greater competition by other players like Microsoft who aim to use artificial intelligence to get a bigger piece of the search marketing pie.

A Pivotal Year Ahead For Google’s Role in Franchise Development

January 17, 2024

January 17, 2024 – One of the most reliable pathways to filling the franchise sales funnel is under siege in 2024. Not only has it fallen to second place behind Microsoft in consumer “mindshare” regarding AI, it faces potentially disruptive regulatory threats, while committing unforced errors of its own in the name of privacy.

How “Peak Social Media” May Impact Franchise Development

January 10, 2024

January 10, 2024 – Signs are that we may have reached “peak” social media as measured by posting activating and consumer surveys. The Wall Street Journal posits in a recent article that users are doing a lot more lurking than posting these days and foresees more of the same in an election year along, with mounting concerns about privacy.

Top Ten Topics In Franchise Lead Generation

December 27, 2023

December 28, 2023 – From a review of web traffic to content viewed over the past year, we developed a “Top Ten” list of the most popular topics among our insights in 2023 based on the readership of articles by category. 

Among Motivations for Franchise Ownership, Being Your Own Boss Gains to a Record High

December 20, 2023

December 20, 2023 – Since we last reported on the motivations of aspiring franchise owners in July, war has broken out in the Middle East, mortgage rates topped 8% and stock markets plummeted, among other shocks. But by the time of our November Small Business Sentiment survey, optimism about startups rose to the highest in fifteen months.

Rising Tide in Business Startup Sentiment At The Highest In Fifteen Months

December 6, 2023

December 6, 2023 – More than two-thirds of survey respondents (67.2%) either agree or strongly agree that “now is a good time to start a business,” the highest for that measure of startup sentiment since the 69.2% reading in August 2022. Now 83.6% of respondents see conditions for business startups “the same or better in three months.”

Surveys Show Franchise Prospect Initial Contact Rates Improve in October. Is Live Voicemail Helping Franchise Development Teams?

November 29, 2023

November 29, 2023 – Prospect initial contact rates are up, as reported by the latest FranchiseInsights.com survey in October 2023. Almost 52% percent of respondents say they were contacted by all of the franchises they inquired about, up from 46.2% in June when we last reported this data. Aside from the efforts of franchise sales teams, what could be driving this improvement?

The Key Personal Strengths Claimed by Today’s Aspiring Franchisees

November 21, 2023

November 22, 2023 — Most franchise inquirers believe they demonstrate three important characteristics for succeeding at business ownership.  Grit, or “persistence towards a goal despite obstacles” was cited by 53.0% of respondents in the October 2023 Startup Sentiment survey by Franchise Insights.

When Researching Franchises, Prospects Focus on Just a Few Concepts for Follow-Up

November 1, 2023

November 1, 2023 – As we have observed many changes in franchise buyer behavior in the three years since the global pandemic began, one aspect changed very little. Despite the thousands of offerings among dozens of categories in the franchise directories at FranchiseVentures online brands, most prospects still narrow their focus to a single concept on a visit to request further information about franchises.

Post-Pandemic Migration of Prospect Interest Northward and and Eastward for Franchise Development

October 25, 2023

October 25, 2023 – The migration of interest in franchises continues to shift northward and eastward according to new data from FranchiseInsights.com. By comparing quarterly shares by state for the first quarter  of 2022 to the third quarter of 2023, there was a continuation of the shift in the mix of where aspiring franchisees were expecting to locate franchises – from south to north, and west to east.

Franchises Are Preferred Over Startups or Purchases of Existing Businesses

October 18, 2023

October 18, 2023 – In a September 2023 survey, aspiring business owners preferred the option to “buy a franchise” over buying an existing business by more than a two-to-one margin. While 65.5% indicated interest in the franchise purchase option, only 29.8% indicated an interest in buying an existing business for sale.

Now Is The Time to Launch Startups, Say Aspiring Franchisees

October 4, 2023

October 4, 2023 – A one-year high of almost 62% of survey respondents either agree or strongly agree that “now is a good time to start a business” and 75% of respondents see conditions for business startups “the same or better in three months.”

A Reliable Source of Lead Referrals to Your Franchise Development Website

September 12, 2023

September 27, 2023 — When evaluating franchise directory websites (portals), cost per lead is often a key decision factor, assuming quality standards are met. But leads submitted at franchise  portals also result in substantial referral visits to franchisor websites, in addition to being a significant source of leads submitted at development websites

Aspiring Franchisees See September As Prime Month to Launch the Startup Process

September 6, 2023

September 6, 2023 — In August 2023, 38.6% of aspiring business owners said they are planning to launch their startups “in the next month” reflecting eagerness to begin their journeys. At the same time, 56.4% of entrepreneurs planned their startups within the next three months, and 84.2% within the next twelve months. 

Prospects Give Feedback on Improving the Franchise Sales Process

August 23, 2023

August 23, 2023 – Aspiring business owners engaging with franchise sales teams were largely satisfied with their experiences, according to recent mystery shopping surveys over the last six months ending in  August 2023. Almost half (43.3%) said they were either “satisfied “or “very satisfied”

Coming Apple Feature May Help Overcome “Silence Unknown Callers” Barrier to Initial Prospect Contact

July 25, 2023

July 26, 2023 – Apple announced a new “Live Voicemail” feature for its anticipated September iOS 17 iPhone software update. Rather than banishing the caller directly to voicemail without ringing, as the “silence unknown callers” feature does, the first several seconds of the caller’s message is presented in text on the home screen, giving the call recipient an option to pick up the call.

Franchise Prospects Affirm Key Strengths for Successful Ownership

July 19, 2023

July 19, 2023 — The majority of franchise inquirers profess having two of the most important characteristics for succeeding at franchise ownership, according to the June 2023 Startup Sentiment survey by Franchise Insights. “Willingness to follow a proven system” was reported by 60.7% of respondents

Aspiring Entrepreneurs Increasingly Optimistic About Startup Conditions This Fall

July 5, 2023

July 5, 2023 – In June 2023, 59 percent of entrepreneurs surveyed say they are “more likely to launch their startups than three months ago.” At the same time, 51.3 percent of survey respondents either agree or strongly agree that “now is a good time to start a business”, up slightly from April but below May’s 60.4 percent reading.

Behavioral Insight: WHY Most Prospects Visit Franchisor Websites After Requesting More Information on Franchise Portals

June 21, 2023

June 21, 2023 — A substantial flow of leads to franchise development sites comes from prospects originating on portal websites that are used to discover and compare franchise opportunities.  According to surveys over the past year, the most recent data, about  71% of prospects who submitted an inquiry on the portals subsequently visited the franchise website.  Why?

A Dependable Source of Lead Referrals to Your Franchise Development Website

June 14, 2023

June 14, 2023 — When evaluating franchise directory websites (portals), cost per lead is often a key decision factor, assuming quality standards are met. But leads submitted at franchise  portals also lead to substantial referral visits to franchisor websites, in addition to being a significant source of leads submitted at development websites, as we first reported in September 2022.

Uptrend Seen in Entrepreneur Sentiment About Future Startup Conditions

June 7, 2023

June 7, 2023 – In May 2023, almost 69% of entrepreneurs surveyed say they are “more likely to launch their startups than three months ago.” Over 60% of survey respondents either agree or strongly agree that “now is a good time to start a business”, up significantly from April, but inching back towards the record high of 76.9% in June 2021. 

Five-Year View of the Changes in State Shares of Franchise Prospect Interest Through Franchise Lead Flow

May 16, 2023

May 17, 2023 -The top ten states by share of franchise prospects declined from 2018 (59.53%) to 2022 (57.78%), and then grew in 2023 to a multi-year high at 60.15%.By looking at January through March franchise lead flow data from 2018, 2020 2022, and 2023 as seen in the chart above, Texas took the largest share among the states with greatest interest in 2020 with 10.62% of total inquiries as the first shock of the pandemic suppressed prospect interest in March 2020. Texas then declined to third place by 2023, as Florida ascended to 11.07% of all prospects, just under California at 11.27%.

How to Initiate Conversations With Prospects and Achieve Better Results

May 9, 2023

Norfolk, VA, May 10, 2023 – Research shows that only a fraction of franchise prospects are likely to return your call before receiving an introductory email from you. In an April 2023 survey, only 12.9% of respondents are “very likely,” and another 22.6% say they are “likely” to take a cold call. The traditional “call first” approach will likely lead to your frustration with at least a third of franchise leads.

Over 77 Percent of Aspiring Startups See Conditions In Three Months the Same or Better Than Now

May 3, 2023

May 3, 2023 — In April 2023, 63% of entrepreneurs surveyed say they are “more likely to launch their startups than three months ago.” Just over half (50.4%) of survey respondents either agree or strongly agree that “now is a good time to start a business”, down slightly from last month, but significantly down from the record high of 76.9% in June 2021. 

Franchises Are Preferred Over Purchases of Existing Businesses

April 26, 2023

In a recent survey of aspiring business owners, 18.4% indicated a preference for the option to “buy a franchise” over buying an existing business. While 39.5% indicated interest in the franchise purchase option, only 21.1% indicated an interest in buying an existing business.

The Top Prospect Motivations for Franchise Ownership in Q1 2023

April 19, 2023

April 19, 2023 – Control over one’s destiny continues to propel entrepreneurs towards owning their own business in America. Consistent with our large sample of interested franchise buyers over the past three years, “being one’s own boss” remains the primary motivator cited by entrepreneurs researching franchise ownership.

Aspiring Franchisees Leave the Pandemic Behind

April 5, 2023

April 5, 2023 — In March 2023, 53.7% of entrepreneurs surveyed say they are “more likely to launch their startups than three months ago.” Further, 55.6% of survey respondents either agree or strongly agree that “now is a good time to start a business”, down slightly from the prior month, but significantly down from the record high of 76.9% in June 2021. 

Personal Savings Leads Increases in Major Shifts Expected For Franchise Funding as Loans Lag

March 29, 2023

March 29, 2023 – As March 2023 survey data arrives, aspiring franchisees now expect “personal sources” to make up the vast majority of funding for their business launches, with 47.4% including it in their top three sources. SBA loans and banks and other loan providers were second and third, included by 32.6% and 20.0% of respondents, respectively, to round out the top three choices. 

Personal Savings Outpace Loans and Other Sources Expected for Funding New Franchise Units

March 22, 2023

March 23, 2023 — Amid news of bank failures and high interest rates, business startups expect personal sources to make up the vast majority of funding for their business launches. Those planning to take advantage of Small Business Administration loans and bank loans have dropped to 30.1% and 22.8% respectively, given forty-year highs in interest rates and tightening credit conditions.

Franchise Inquirers Give Feedback on Improving the Buying Process

March 14, 2023

March 15, 2023 – Aspiring business owners talking with franchise sales teams were largely satisfied with their experience, according to recent mystery shopping surveys over the last six months ending in February 2023. Almost half (48.7%) said they were either “satisfied” or “very satisfied”, and only 12.4% said they were “unsatisfied” or “very unsatisfied.”

Business Buyer Demographics and Startup Timeframes Shift in February Survey

March 8, 2023

March 8, 2023 – In February 2023, 59.1% of entrepreneurs surveyed say they are “more likely to launch their startups than three months ago.” Coincidentally, 59.1% of survey respondents either agree or strongly agree that “now is a good time to start a business”, consistent with the prior month, but down from the high of 73.5% in February 2022.

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