We are more unsure of what the future holds than ever before. That’s according to figures taken from the Global Economic Policy Uncertainty Index (GEPU) in December of last year. As nationalism and political division continues to impact markets across the world, financiers looking to start a business would be right to be apprehensive about taking potentially the biggest financial risk of their lives.
However, recent statistics show that the number of investors opening franchised establishments has continued to soar irrespective of the global shaky eco-political environment.
Given that global uncertainty was at its highest going into 2019, why has franchising continued to gain popularity amongst those looking to diversify their business interests?
1) One of the major pulls of franchising across the world is that it’s using an established, proven business model that’s already working.
2) When opening a franchise, investors also have a clearer idea of when they can start to enjoy the ‘good times’.
3) Franchising also offers security in the form of guidance and knowledge
“One of the key benefits of opening a franchise with an established provider, such as IWG, is that the master brand places a lot of importance on ensuring that the same level of client experience is delivered consistently, and so it is as important to us that our franchise partners get the right level of support, as it is to them”, says Mo Nanabhay, IWG Franchise Development Director (Africa).
Growing a business is always a risk, but franchising gives the investor a head start through expert support and knowledge about the market they are entering in to, as well as an established brand and customer base upon which to build. With an external environment that seems to change every day, it is likely that franchising will continue to gain popularity as a business model for the foreseeable future.
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