As a former CEO of a successful franchise development company, I helped more than 300 brands in over 90 different industries. I wrote a very successful book entitled “Solving The Puzzle Of Owning A Franchise” (2007).
What I discovered is that people buy franchises because they want three things:
- A Brand. They want national recognition of their business.
- A “Proven” Business Plan. They want to increase their chances at success.
- A System of Training. Mostly, because they have not done this business before.
The average franchise costs $50,000 to $100,000 for a service franchise and easily up to $250,000 for retail or quick service restaurant (QSR). A number of franchises cost in excess of $500,000. The average person cannot afford to buy a franchise, although there are over 1500 franchise concepts and as many as 750,000 franchise units employing over 12 Million people in the United States alone.
I researched several of the major magazines and websites including the Franchise 500® and found that there are some interesting additional facts about franchising:
- Franchise sales in the United States exceed $1 Trillion.
- 1 in 12 businesses in America is a Franchise.
- It is estimated that 97% of franchise businesses are still in existence after 5 years as compared with non-franchise business after six years was about 37.8%.
- 50% of franchisees are prior executives who own more than one franchise unit.
- The largest segment is Quick Serve Restaurants at about 21% of all franchises.
- Adding the service segments together as a group make up about 33% of franchises.
Here are some Freelancer Facts:
- According to most major financial magazines, by 2020, up to 50% of Americans will be “Freelancers” working for themselves either from home or delivering services to the home or to a business.
- In 2014, there were 53 Million Freelancers in the US; 1 in 3 Americans are Freelancers; and Freelancers produced $715 Billion in sales.
- The average Freelancer earns 45% more than an employee doing the same job. The average income is currently $68,000 per year.
- 49% of Freelancers earn $20 to $59 per hour; 33% earn $70 or more per hour; and 15% earn over $100 per hour.
- Freelancers have freedom of their time, only 65.5% work full time 40 or more hours per week.
- 90% of Freelancers are happier than when they worked a full time job.
- 77% of Freelancers are optimistic about their future despite the economy.
- 71.7% of Freelancers think of themselves as entrepreneurs.
- 20.8% of Freelancers have a hard time finding clients.
- 16.3% suffer with the feast or famine cycle of owning their own business.
- 10.1% find it hard to maintain the life-work balance.
- 6.8% need help with time management.
- 4.5% want to earn better fees for their service.
- 4.4% worry about affordable health insurance.
- Freelancers are concerned how to save for retirement and other benefits.
Top 15 Types of Freelancers
- Designers 20.4%
- Writers 18%
- Editors 10.5%
- Copywriter 10.3%
- Translators 7.6%
- Web Developers 4.5%
- Marketing 4.3%
- Consultants 2.3%
- Virtual Assistants 1.9%
- Illustrators 1.9%
- Researchers 1.6%
- Videographers 1.4%
- Photographers 1.3%
- IT Support 1.2%
- Franchise was the leader in business opportunity, but Freelancing is the FUTURE!
- Freelancers can join websites for FREE or little money and start a business that in one year’s time can net similar to a franchise ($68,000 per year) without the investment risk.
- We are developing a website called FreelancerNation.com (July 2015) that will combine the best of franchising, freelancing, and collaboration and align with the Share Economy.
- You will be able to join for FREE and learn from mentors who are making real money in the GIG Revolution.