Leveraging data from the largest global marketplace of prospective franchise buyers, we apply the tools and techniques of data science and machine learning to offer insights on prospective franchisees’ evolving tastes, financial wherewithal, demographic profile and pre-purchase behaviors.
As the coronavirus pandemic has strengthened many entrepreneurs’ desire to own a business, Baby Boomers in particular have grown in their relative share of prospective franchisees who are reaching out to franchise systems to explore potential investment. Generation X still ranks No. 1 with the largest share of prospects, but that share fell slightly from …
The pandemic has not changed the primary drivers of business ownership — independence and controlling your own destiny remain the most powerful motivations for owning a business. In fact, working for oneself is the No. 1 reason cited by entrepreneurs researching ownership across the leading network of online franchise information directory brands. “Be my own …
Entrepreneurial spirit is alive and well in South Carolina, where potential franchisees were active enough to rank the state at No. 4 in per-capita Franchise Interest Index™ in 2019. The Palmetto State is the nation’s 27th largest by adult population, with 4.8 million adults over the age of 22. But it generated 1.8% of the …
As the nation’s third-largest state by adult population, Florida is a powerhouse of potential franchisees, ranking No. 3 for total investment inquiries made last year, and also No. 3 in per-capita Franchise Interest Index™ in 2019. With 19.8 million adults over the age of 22, Floridians generated 10.4% of U.S. franchising inquiries through the FranchiseVentures …
Exceptionally high interest in discretionary-spending franchises like restaurants, spas and salons helped drive Nevada near the top of the Franchise Interest Index ™ in 2019 and again in the first quarter of this year. Nevada ranked No. 2 in adult per-capita interest in potential franchise ownership last year, accounting for 1.6% share of inquiries through …
While Georgia leads the nation in per-capita interest in potential franchise ownership, another Southern state leads in total volume of interested franchise seekers. Texas ranked No. 1 in 2019 for its 11.3% share of inquiries through the FranchiseVentures demand-generation platform in 2019. That’s not surprising, since it also boasts the nation’s second-largest population of adults …
With the nation’s highest per-capita interest in owning a franchise last year, the state of Georgia also stands apart for its ratio of Millennial franchise prospects, and indexes higher than average for categories like Senior Care and Business and Financial services. Here is a demographic profile of Georgia prospects who contacted franchisors through the FranchiseVentures …
Baby Boomers interested in buying franchises may not claim the same high growth rates of Millennial and Gen X entrepreneurs, but the sizable Boomer segment holds an attractive lead in assets to fund new franchise businesses. Baby Boomers accounted for 27% of prospects contacting franchisors through the FranchiseVentures demand-generation platform in 2019. Here is a …
The Millennial generation saw a growth spurt in franchise interest last year, growing its share of franchise investment inquiries to 21% in 2019 from 16% in 2018, and leading the field with higher-than average interest in categories such as Personal Care, Child-related and Cleaning franchises. Here is a demographic profile of the 23- to 38-year-old …
Starting a business amid economic uncertainty requires vision, careful planning and, perhaps most of all, guts. Data collected the week of April 14, 2020, for the FranchiseInsights.com Small Business Startup Sentiment Index™ reveals that 52.5% of aspiring owners are actually more likely to start a business now than they were three months ago, despite no …
Food and Restaurants Maintain Most Popular Rank, as Automotive Leads Quarterly Growth Despite coranavirus-driven volatility in key business sectors in March, the relative ranking of top franchise categories remained the same in Q1 of 2020, compared with Q4 of 2019. Food and Restaurant franchises continue as the most popular category drawing interest from potential franchisees, …
Nevada edged past Georgia to lead the nation with the highest adult per capita interest in buying a franchise in Q1 2020, according to new data from Franchise Insights. Georgia had claimed the top spot in the The Franchise Interest IndexTM for the full year of 2019. The Franchise Interest IndexTM reveals the relative interest …
According to a survey of interested franchise buyers, more development teams are following through with each inquiry and attempting to make contact. In April, 59.6% report being contacted by every one of the one or more franchises to which they inquired. This is all the more important, considering that almost 43% of prospective buyers inquired …
Jacksonville, Tucson Lead Top 50 Metro Areas, as Springfield and Worcester Top Mid-Sized Metros Mid-sized metropolitan areas under 1 million population showed some of the strongest year-over-year growth in franchise-buying interest, claiming 7 of the top 10 spots in latest business data from Franchise Insights. The rest of the top 10 were large metros with …
More than half of prospects interested in buying a franchise are married, which turns out to be an important factor in boosting average household income. In fact, half of married prospects have a household income of $100,000 or more in Q4 of 2019, according to the latest data analysis by Franchise Ventures. For this analysis, …
Atlanta, Ga., enjoys the nation’s highest interest in buying a franchise, according to the latest analysis of the Top 100 metropolitan areas. Southeastern metros dominated the top 20 leaders in the Franchise Interest Index(TM), with multiple major metro areas ranked in Florida and Texas, as well as high-interest from mid-sized metros in North and South …
Recent surveys of prospective small business buyers revealed a healthy uptick in confidence from January to February 2020. The new 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 Franchise Ventures. When presented with the statement, …
While Millennials are the fastest-growing group of franchise prospects, Generation X was far and away the largest age group interested in buying a franchise last year. Generation X claimed 44.9% share of prospects contacting franchisors through the Franchise Ventures demand-generation platform in 2019. Here is a demographic profile of the 39- to 54-year-old cohort, based …
Home Services is the most popular category of franchises among potential franchise buyers, according to new data from Franchise Insights , with more investment inquiries in 2019 than any other category. Home Services topped Computer and Internet businesses as well as Food and Restaurant franchises to claim the top spot. The Franchise Insights rankings are …
Georgia, Nevada and Florida led the nation with the highest levels of interest in buying a franchise in 2019, according to new data from Franchise Insights. The Franchise Interest Index™ reveals the relative interest of entrepreneurs making an investment inquiry by indexing proprietary data with state population on a per capita basis. An index of 100 …
Owning a small business is not always a full-time venture – in fact, half of potential business buyers say that one of their motivations is owning a “side business for supplemental income.” That’s according to an ongoing survey of potential business buyers across the Franchise Ventures demand generation platform. Side-business income closely follows “lifestyle rewards” …
Nearly 3 in 4 prospective franchisees own their own home, and more than three-quarters have lived at the same address for more than 5 years, according to the latest data analysis by Franchise Ventures. Those are important indicators of financial wherewithal and stability for franchisors recruiting new owners for their franchise. For this analysis, Franchise …
Owning a small business can give you the freedom and flexibility to match different lifestyles, and that’s important to more than half of entrepreneurs answering a survey across the Franchise Ventures demand generation platform. More than half, or 56.5%, say “lifestyle rewards” are one of their top motivations as they think about starting or buying …
The lure of entrepreneurship appeals to individuals across all levels of education, according to the latest data analysis by Franchise Ventures, which found most business-buyer prospects had at least some college experience, but not necessarily a completed degree. “In the spirit of the Thanksgiving holiday, we’re grateful for the opportunities that franchise ownership offers to …
While a desire to “by my own boss” is the No.1 motivation for people thinking about buying a business, the potential to earn more money ranks a strong No. 2, according to the business-buyer survey across the Franchise Ventures demand generation platform. Nearly three-quarters of respondents, or 72.5%, cite “income potential” as one of their …
One-third of prospective franchisees have at least $100,000 in annual household income, according to the latest data analysis by Franchise Ventures — and income is clearly a key factor in finding franchisee candidates who are qualified for different opportunities. For this analysis, Franchise Ventures combined its pool of investment inquiries with demographic data from Alliant, …
More than one-third of potential business buyers are motivated by a desire to stop “climbing the corporate ladder,” according to the survey across the Franchise Ventures demand generation platform. “In many cases, experienced managers and executives are ready to run their own show,” said Michael Alston, president of Franchise Ventures. “That can be a huge …
The No. 1 reason that budding entrepreneurs want to own their own business is to “Be your own boss,” according to the survey across the Franchise Ventures demand generation platform. A full 87% of users starting a franchise search said that being the boss was a primary motivation for them, beating out income potential and …
Interest in owning a franchise is balanced almost equally between women and men overall, according to the latest small business analysis by Franchise Ventures — and women are starting to outpace men among Gen X prospects. “We don’t see a glass ceiling when it comes to interest in buying a franchise,” said Michael Alston, president …
Following the broad trends in population demographics in the U.S., the age of franchise-investment prospects continues to shift younger in the latest quarterly analysis by Franchise Ventures. Generation X, ages 39-54, is the largest group ready to talk with franchisors, at 46.1% of all prospects in Q3 2019. That’s up 6% over Q2 and up …
Smartphones are growing at an even faster rate this year as the No.1 way that franchise prospects begin their investment process. After several years of single-digit growth, the smartphone share of new franchise inquiries grew 12% over the past 12 months – reaching a full 73% of Internet inquiries originating on a mobile phone. That’s …
With so many different franchise options available to a local investor, it’s easy to assume that a typical franchise prospect is talking to lots of different franchisors at the same time. But that’s a wrong assumption. The largest analysis to date of prospective franchise buyers shows the majority are focused on talking to only one …
Franchised businesses can be started at a wide range of investment levels, so it’s no surprise that portals generate leads from a wide range of income levels. But a closer looks shows prospective buyers may be more financially stable than you’d think. That’s according to the largest study of franchise prospects to date. The Franchise …
The next generation of business owners is likely to be younger than you might think. According to the largest study of prospect franchise buyers to date, more than half of those interested in buying a business are under the age of 50. Baby Boomers and older are still a force to be reckoned with, and …
Franchisors, there’s a huge mismatch in your new-unit sales funnel – 67% of all franchise inquiries are sent outsite of business hours, times that don’t lend themselves to an immediate phone conversation. And that problem gets tougher for national franchisors, when you consider the vast expanse of the 50 states and 6 main time zones …
If you work in new franchise development, you know how crucial the first phone call is – and how hard it is to make that phone connection. Year after year, contact rates for the franchising industry remain challenging, and now we know why. It boils down to this: There’s an eye-popping mismatch between typical business …
Franchise development teams, take note: The mobile Internet revolution has up-ended the top of your marketing funnel. Internet franchise portals are the leading source of inquiries from potential franchise owners, and the smart phone is their Internet connection of choice. That’s according to new research shared at the Franchise Leadership and Development Conference in Atlanta, …