Financial crisis creates franchise opportunities
Franchising has proven its worth and effectiveness as a business practice. Its significant advantage is that it provides the security needed by people in such an economic climate. Trade never stops and consumers are constantly looking for quality products and services at a competitive price. An organized franchise network is able to meet the expectations and needs of the consumers and to offer solutions to all those who are looking for a profitable business opportunity.
Fictional prosperity of previous years created conditions of high costs in order for someone to launch their own company. Today, as a result of the crisis, these costs have been reduced significantly. For example, the cost of renting a store, regardless of the area of choice, has fallen dramatically, thus creating favorable conditions in the market. Also, the problems in the public sector, give impetus for growth in the private domain.
If we look at countries in Europe with similar circumstances, habits and attitudes, we see that the franchising industry has experienced tremendous growth in times of economic crisis. In Turkey, for example, although it does not belong in the EU, when forced to comply with the requirements of the International Monetary Fund in 2001, it developed the largest franchising chains with enormous success.
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This post has been taken from http://www.thefranchisemagazine.net
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