Franchise Expo Gives Chances To Buy Jobs
At a time when unemployment is soaring, franchise sellers are finding more and more people who want to buy their next job.
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“From the research I’ve done, about 10 percent of franchises fail, as opposed to if you’re on your own, it’s probably close to around 70 or 80 percent that I don’t make it through the first five years, so the odds are a little bit better buying yourself a job through a franchise,” says David Dreyer, an expo attendee.
But even though there may be more interest in buying franchises, the one thing that’s missing these days is money. Expo organizers will tell you that financing has dried up.
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“The biggest hurdle right now is financing, and lenders aren’t lending, people are using their 401K money,” says Tom Portesy, a Frachise Expo producer.
“A lot of what you’ll see is people’s equity in homes being used as collateral for a loan, and that’s going away a little bit as well,” Portesy adds.
