There's no denying it: Times are tough. Inflation is up. The economy could be on the verge of a recession. But where other franchisees see disaster, you should see opportunity.
The economy is cyclical. What has gone down will go up-which means that if you have the means to buy a franchise during a downturn, when prices are low, you can reap big rewards in the future. Whether you currently have a franchise or are considering becoming a franchisee, here are five reasons to be bullish even now.
1. Real estate
During challenging times, businesses go under. This leads to real estate opportunities on three fronts. First, there are more physical spaces open for conversions, which can cost hundreds of thousands of dollars less than a new buildout. Plus, in a down market, landlords tend to be in a negotiating mood. And finally, for a developer to continue to get funding, their current properties need to maintain a certain occupancy level. All of this means that now is the time for both new franchisees and franchisees with existing leases to negotiate concessions and better terms.
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