Minority, Women Entrepreneurs Find More Opportunity in Franchise World
While there are many risks and hurdles involved in starting a new business, there are also many rewards. If you’re ready to start it up, but aren’t in the position (financially or otherwise) to risk it all in starting something new, you may consider franchising. Franchising offers many benefits to aspiring entrepreneurs, especially to minorities and women, who are seeing more opportunities in the franchise world in recent years.
According to data derived from the U.S. Census by the Small Business Administration, franchising trends show that minorities now own 21.1 percent of franchises with at least five workers, up from 15.8 percent 10 years ago.
StartupNation contributor Steve Friess, dives further into the study, and shares a personal story of a woman who wanted to start her own business and found success through franchising. The article also cites various surveys and research metrics related to minority entrepreneurship and small business.
The Best Home-Based Franchise Opportunities in the USA
Other major advantages of home-based franchise opportunities are low start-up costs and overhead expenses.The initial investment required for an at-home franchise is typically much lower than a conventional franchise, often in the $15,000-$30,000 range. Some home-based businesses can be started with just $10,000. Since franchisees do not need commercial space, work-from-home franchises also have low overhead costs and require little to no inventory.
Should You Open a Coffee Shop Franchise?
At FranchiseHelp, we see thousands of visitors each month from budding entrepreneurs who think that selling coffee to their fellow caffeine addicts could make for an exciting and lucrative venture.
We'll Leave the Light On For You: Motel 6's Advertising Success
When Motel 6 conceived of the idea for a campaign in the mid-1980s, Bodett worked on NPR’s All Things Considered program. The Richards Group, a Dallas- based advertising agency, was hired by Motel 6 in 1985 and thought Bodett would be an excellent spokesman for the chain because of his warm and friendly vocal style. Hired in 1986, Bodett ad-libbed the line, “We’ll leave the light on for you”while in the recording studio for the first time and the slogan was both an instant and lasting success, staying with the chain for over 25 years and counting.