FranNet of Philadelphia's Steve Buch: Statistics Show Franchises Succeed at a Higher Rate Than Typical Small Business
Good News for Philadelphia-Area Franchise Owners and Potential Entrepreneurs
PHILADELPHIA, PA--(Marketwire - Jul 19, 2012) - Philadelphia-area franchise owners are celebrating the results of a recent FranNet survey that shows franchise business owners succeed at a rate 42 percent higher than typical small businesses.
"Accurate small business and franchise success rate data are very difficult to come by," said Steve Buch, owner of FranNet of Philadelphia. "These data show what we've always known, that the systems, structure and support franchise systems offer leads to a much higher success rate."
FranNet, an international network of franchise consultants, found in a survey of 1,260 franchises it helped open from 2006 to 2010 that 91.2 percent were still in business after two years, 85 percent after five years. Only 64 percent of small businesses in general survive the first two years and only half survive five years, U.S. Census data show.
Buch is a franchise matchmaker, a consultant who works with Philadelphia area corporate workers -- many of whom have recently endured layoffs and buyouts -- and helps them transition to franchise ownership.
FranNet uses a refined process to match potential franchise owners with franchise systems that fit their goals, interests and budgets. FranNet of Philadelphia serves eastern Pennsylvania, Delaware and southern New Jersey.
"Lately, so many people who are tired of dead-end, shaky corporate positions have decided franchise ownership is a much better bet," Buch said. "Business owners find they have much more control over their careers and lives, which gives them peace of mind and ultimately makes them happier. If you've ever thought about owning your own business, now's a great time to explore franchising."
FranNet helped a record number of people open new franchise businesses in 2011 and is placing an even larger number this year, many of them in the Philadelphia region.
"For workers leaving dwindling or dead-end careers, franchise ownership presents a less risky option for the next stage of professional life," said Buch.
For more information, visit: www.frannet.com/sbuch