Members of Generation Y, also known as Millennials, are finding out that they have a lot of disposable income on their hands. The question they face is what to do with it. Starting a franchise is one way to spend disposable income, and when you get involved with a franchise, chances are that your business is going places.
Facts and Figures
When starting a franchise such as Fully Promoted, the first thing to know are the facts and figures. After all, getting involved with a franchise directly affects your own finances, so let’s take a look at what to expect.
- Franchising, as a whole, grows faster than the rest of the economy.
- Investments in franchise establishments are growing by 1.6% per year.
- Over the past four years, employment in franchises has grown 2.9%, which is outpacing the overall employment growth rate by half of one percent. This proves that starting a franchise creates more jobs than the national economy does.
- The gross domestic product, or GDP, of franchises is expected to rise about 5.5% in 2016. This is a greater increase than the overall U.S. GDP, which is expected to rise 3.3%. This shows that franchises are growing more quickly than the U.S. economy as a whole, and it also shows that investing in a Fully Promoted franchise is a great business decision.
It’s All about Lifestyle
The most popular types of franchises revolve around lifestyle. This includes marketing for big companies through signage or embroidered shirts and hats, Internet sales, specialized food choices like sandwiches and cookies, eco-friendly products, and technology like computers, tablets, and phones.
All of these types of franchises are geared toward the Millennial lifestyle—and this is the demographic that is coming into the most disposable income and is the target for every franchise owner. Millennials offer the most growth potential as customers for lifestyle franchises such as Fully Promoted.
What Franchise Is Right for You?
Only you can determine what franchise is right for you, but one factor is whether you want to involve your entire family. For instance, being part of a promotional products franchise can be a perfect opportunity for the whole family to get involved in. Depending on their age, you may be able to offer an employment opportunity to your kids, and what teen wouldn’t like to be involved in a promotional products franchise?
If your franchise is solely your undertaking, then a more technical franchise may be a better fit. Getting involved with eco-friendly products like solar panels, water heaters, and light fixtures might suit your knowledge and business acumen.
If you like to interact with commercial businesses, then a marketing franchise that designs and places logos on caps, mugs, and T-shirts might be an excellent choice. Regardless of your preference, there are a variety of franchises available, and one of them will be ideal for you and your needs.
Invest in a Franchise at Fully Promoted
Whatever your business goals, the United Franchise Group has the franchise that you will be proud to own. Fully Promoted is a franchise that will meet your requirements, whether you want to get your family involved or not. United Franchise Group will supply you with the training you need, franchise locations, and a support group that is second to none.
For the best in franchise networks, consider Fully Promoted when you are interested in opening a franchise of your own. United Franchise Group is the global leader for entrepreneurs. Want to learn more about opening a franchise of your own with Fully Promoted? Then visit our website today!