August’s Prospective Franchisees Display Highest Readiness Seen Yet in 2020
Has Business Buyers’ Pandemic Pessimism Peaked?
In welcome news for franchise development professionals, responses collected August 20-26, 2020 for the FranchiseInsights.com Small Business Startup Sentiment Index™ revealed a new high point for buyer readiness in 2020. Over 23% of persons aspiring to own franchises indicated plans to buy or start a business “this month” — the fourth consecutive month of growth and a sharp increase over pre-Covid readings.
In another encouraging development in franchise lead generation, over 36% of August respondents indicated they are “more likely to start a business now than three months ago” — the third consecutive monthly increase. Accordingly, the percentage of respondents that were “less or much less likely to start a business than three months ago” decreased to 8%, the lowest reading in 2020. These notable improvements in buyer optimism might suggest that pandemic pessimism has peaked.
The Small Business Startup Sentiment Index™ is based on a monthly survey of individuals who have recently inquired about businesses or franchises for sale on the digital assets of FranchiseVentures.
FranchiseVentures is the leading demand generation platform for potential franchisees to thousands of growing franchise systems in the United States and Canada. Its franchise lead generation brands include Franchise.com, Franchise Solutions, Franchise Gator, Franchise Opportunities, Franchise For Sale, and BusinessBroker.net, and together they provide the largest aggregation of prospective franchise buyers in the U.S.
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Published on Thursday, August 27th, 2020.