Economy Slows, Franchises Boom

My wife and I were out with her parents on Saturday night at an oriental restaurant that is usually busy, but the other night it was absolutely CRAZY! My mother-in-law noted “No recession in sight here!” And, that night, at least, there was a mass of happy diners!

But whether the economy in general is “in recession” when companies are laying off – people see their own recession looming.

Many are turning to franchises and increasingly some of those are low overhead and home based.

From the Kansas City Business Journal

A slowing economy — and looming job instability — can provide the final push for employees to explore becoming employers. Franchising or licensing become appealing vehicles for those who have an entrepreneurial spirit but lack a new business idea or the grit to risk investing in a startup.

Franchising has fared well in past recessions, said Terry Hill, a spokesman for the International Franchise Association.