June Small Business Startup Sentiment Index™ Reveals Healthy Trend in Optimism Among Aspiring Franchisees
Survey responses collected June 18-23, 2020 for the FranchiseInsights.com Small Business Startup Sentiment Index™ should come as a welcome relief to members of the franchising community. In testament to the return of animal spirits among entrepreneurs, 66.4% of aspiring franchisees agree or strongly agree that “now is a good time to start a business,” the highest reading since February. Only 11.2% of respondents disagree or strongly disagree with this optimism, a lower percentage than January, when very few anticipated a pandemic of this scale.
The upward trend in optimism correlates with the rebound in financial markets which have been recovering since March 23, and improving retail sales, which grew 17.7% in May according to the US Census Bureau. It stands to reason that — as many entrepreneurs have seen their stock portfolios and retirement funds return to health since the market’s nadir on March 23rd — they now consider themselves better positioned to pursue franchise ownership along with other significant purchases.
Last week’s article on Google search trends confirmed rebounding interest in franchise and small business ownership. This development is yet another encouraging indicator that franchising is set to bounce back in the coming months.
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.
Interested in more insights from our proprietary data set? Subscribe to our email newsletter below, or follow us on LinkedIn.
Published on Thursday, June 25th, 2020.