Marital Status Appears as Key Factor for Aspiring Franchisees
Above-Average Marriage Rate May Signal Financial Stability, Value of Family Support
Sept. 24, 2020 – Nearly two-thirds of prospects interested in buying a franchise are married, an above-average rate that may add extra financial flexibility and the value of family stability to the startup process.
The current marriage rate is 63.2% for entrepreneurs contacting franchises to explore ownership, according to 2020 data from the FranchiseVentures network of franchise directories. That’s notably higher than the national rate of 55.7% for adults aged 24 and older.
While correlation doesn’t mean causation, marital status can affect financial assets and stability, particularly in two-income households, and not surprisingly it changes dramatically with age. While prospects under 30 are more likely to be single (64.4%), the marriage rate for Millennial prospects is still higher than the national average for the age cohort, at 47% vs. 45%. Baby Boomers have a greater marriage-rate gap, at 71.3% for franchise prospects, vs. 62.4% for the national average.
For this analysis, Franchise Insights combined proprietary data from the FranchiseVentures’ demand-generation platform with demographic data from Alliant, a leading provider of U.S. consumer audience targeting and data enrichment and predictive analytics.
FranchiseVentures is the leading demand– and lead-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, SmallBusinessStartup.com 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, September 24th, 2020.