Industries & Professions /
Today, industry experts report that franchises are responsible for nearly 50 percent of all retail sales in the United States, and this figure is expected to grow through the 21st century. Franchisers (those companies that sell franchise businesses) and franchisees (those who buy the businesses) are sharing in the more than $1.5 trillion a year that franchise businesses take in. While everyone probably has a favorite business or two—maybe the neighborhood Krispy Kreme with its fresh crullers or the 7-Eleven down the street with its gallon-sized sodas—not everyone may realize that these are franchised establishments. For those interested in starting their own businesses, becoming franchisees may offer just the right mix of risk and security. Any new business venture comes with a certain amount of risk, but franchises offer the new owners the security of a name and product that customers are used to and are willing to seek out. Someone with money to invest, the willingness to work hard and sometimes long hours, and the desire to operate a retail business may be able to become the successful franchisee, sharing in the franchiser's success.