Recession Proof Franchises: 4 Reasons to Buy a Cleaning, Repair & Restoration Franchise

Recession Proof Franchises

In 2008, the recession offered a painful, but important lesson for those looking to buy a franchise or start their own business: some industries are more recession-resilient than others.

While it’s impossible to say any industry is 100% recession proof, many industries continued to do well and even thrive during the economic slowdown.

The recession showed us something else, too: people turn to franchising in times where the economy is strained or could likely become strained. Why? People want more control of their future with a business that comes with proven systems and support.

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5 Checklist Items for the First-Time Franchise Buyer

Checklist items for first time franchisees

Today, one out of every 12 companies has a franchise business model for entrepreneurs to invest in. Franchising has been growing steadily for years, thanks in part to more opportunities and an increasingly attractive path to business ownership.

With training, systems, and support already baked into the franchise package, it’s easy to see why new business owners are turning to franchisors rather than going it alone. Still, despite the success among franchisees, the process of actually buying a franchise isn’t something most first-time buyers are familiar with.

To help buyers through this, The Federal Trade Commission (FTC) has an excellent guide to buying a franchise you can find here. As a supplement, we’ve created our own step-by-step guide here. We suggest checking both of these resources out first and then using the checklist below to make sure you’re covering the important points throughout the process.

Get real-life advice for buying a franchise from those who’ve done it themselves. Grab our free guide: What it’s Like to be a Groutsmith: a Q&A with 8 franchise owners.

 

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How to Become a Franchise Owner: A Step-By-Step Guide

How to Become a Franchise Owner

Becoming a franchise owner is a process that takes planning, dedication, and due diligence. It involves a healthy dose of self-examination, research, asking good questions, and ultimately, making an informed decision that will give you the best chance at success and happiness.

While everyone’s journey to franchise ownership is different, those who find success in a business they enjoy typically follow a few basic steps, which we’ve broken down here one-by-one.

Whether you’re only just considering becoming a franchise owner or find yourself part-way through the process already, use this guide to ensure you’re checking all the boxes on the steps you need to take to make a truly informed decision about the franchise that’s right for you.

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7 Questions to Ask Before Buying a Franchise with Your Spouse

Questions to Ask Before Buying a Franchise

Thinking about buying a franchise with your significant other? Ask yourself seven important questions to determine if you and your spouse would make good business partners.

Couples are going into business together more than ever before. About 1.2 million Americans run a business with alongside their spouse. Companies like EventBrite, Modcloth, Panda Express and Gap were all built into major brands by married couples who found success both personally and professionally.

If you and your spouse share a goal of owning a business, the next step is, well, figuring out if you’re the type of couple that would likely work well as business partners.

The key to figuring that out is asking the right questions. Here’s seven of the most important, according to our very own spousal franchise owners. 

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Couples Working Together: Franchising With Your Spouse

Couples Working Together

About 1.2 million Americans run a business with their spouse according to a study from National Federation of Independent Businesses.

Obviously, spouses can and do make successful businesses partners. But if you and your significant other are thinking about becoming business partners yourselves, just about every successful business couple will tell you the same thing: it’s all about balance.

When you can strike this balance in your personal and professional relationship, you and your spouse can rightfully claim the ultimate title of power couple. But getting there takes diligence and some old-fashioned hard work.

As you might already know, there’s a lot of articles floating around warning couples against working together (usually written by those who haven’t made it work themselves). But our own franchise system and many other businesses prove these people wrong.

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