What a difference a century makes. 100 years ago consumers depended upon small mom and pop businesses with very limited choices and at times very questionable pricing. Now the times have certainly changed. In almost every retail and service sector you'll find heavily advertised franchise chains are now dominating players in the rapidly evolving marketplace.
While traditional independent businesses struggle to keep up, franchises are skyrocketing all over the country. Everywhere you look it seems you can find some new franchise claiming its share of the increasingly receptive marketplace. Consumers have clearly demonstrated their overwhelming approval for franchise expansion with widespread popularity and booming sales for all kinds of new franchises.
With over 600 BILLION DOLLARS in annual sales, franchising is currently generating approximately 40% of all retail sales. Even the Department of Commerce proclaims franchising as "The Wave of the Future." The question, therefore, is whether or not franchising is right for your future. The answer can be found in understanding the many benefits and challenges of franchising.
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