Let's face the reality of the times. The US government has officially admitted to over 2 million jobs lost in our current economy. If this is true, what does it mean besides the obvious for the potential of buying a new business or franchise opportunity?
The fact is that times like this never last forever and right now may just be a perfect time to take the initiative to investigate the potential of owning your own business…whether you are affected by the downsizing or not. Interest rates are lower than usual and with a new Presidency and administration right around the corner, the time might be better than believed to start a new business.
As the year unfolds, we are going to be keeping a close eye on the franchise scenario and doing our best to keep you informed about franchise opportunities that may be worth learning more about.
While the economic downturn ripples through the US economy, numerous Franchisers are looking at the challenging business landscape and ramping up ad buys.
Take Dunkin' Donuts for example. They are launching a $100M ad campaign that represents an increase of more than 5% over 2008. I believe that what they are saying is that we are going to fight even harder to maintain and even increase market share.
In so called "normal times" a 5% increase would also be considered normal. In these times of relative uncertainty, 5% sends a definite message. It speaks to a bullish position on the market and is exciting to see taking place. Remember that even though Dunkin' Donuts has 5,769 U.S. stores that are relatively well positioned, they are right up there on the front line doing what they do best bringing in consumers for coffee and donuts.
The same levels of ad expenditures can be seen across the board in some areas and demonstrates that many Franchisers share the same thinking i.e. yes, it is going to be a challenging year but we are going to do our best to maintain and surpass past performance.
I say that is what we need more of. A positive attitude, a smart business plan and perseverance can really reap big rewards even when the environment is less than optimal.
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