Franchise Prospects Show Record High Startup Intent For the Coming Month
October 6, 2021 — Despite never-ending twists in the pandemic, a looming debt ceiling, more volatile financial markets, and even lower consumer confidence in September, aspiring franchise owners are undeterred. Entrepreneurs who agree or strongly agree that “now is a good time to start a business” grew to 73.4% in September, continuing a three month uptrend approaching the record level of 76.9% reached in June 2021. A record 36.1% of aspiring owners anticipate starting their businesses in the coming month. FranchiseInsights.com compiles monthly the Small Business Startup Sentiment Index™ (SSI) of individuals who have recently inquired about businesses for sale.
The most recent Startup Sentiment Index™ survey was conducted September 23-29, 2021, as concerns about the progress of the Delta Covid variant, financial market volatility, and a debt ceiling impasse in Congress.
- Future business conditions: Respondents are positive about the current state of the economy, with 46.5% believing that in three months, business conditions will be “better” or “much better” than now, up from 41.3% in August. Over 47% see conditions “about the same” in three months.
- Access to funding: The percentage of entrepreneurs concerned about acquiring adequate funding dipped, with those seeing funding “harder or much harder” to obtain at 16.8% in September, down from 32.2%.
- Demographics: 46.0% of respondents are currently employed full-time, and 18.0% are current business owners. Gen-X (52.1) and Gen-Y (28.9%) are the largest age cohorts, while “Baby Boomers” follow at 16.2%.
Download a copy of the September 2021 SSI report here. See excerpts from prior SSI™ surveys and subscribe to receive the Small Business Startup Sentiment Index™ monthly report when it is released.
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– 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 Wednesday, October 6th, 2021.