Three-Quarters of Franchise Prospects Own a Home, Most for 5+ Years
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 Ventures combined its pool of investment inquiries with demographic data from Alliant, a leading provider of U.S. consumer audience targeting and data enrichment and predictive analytics.
- In Q3 of this year, 73.2% of prospects contacting franchisors owned their residence, vs. 26.8% who rented.
- Nearly half, or 49.7%, have lived in the same residence for 5 to 20 years, and 18.3% have been at the same address for 20 years or longer.
- Not surprisingly, home ownership increased with age – 82.3% of Baby Boomer prospects were homeowners, vs. 77.8% of Gen X-ers and 66.5% of Millennials.
Franchise Ventures 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 businesses include Franchise.com, Franchise Solutions, Franchise Gator, Franchise Opportunities, Franchise For Sale, and BusinessBroker.net, and together they provide the largest collection of prospective franchise inquiries in the U.S.
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Published on Tuesday, December 10th, 2019.