With a pro-business administration at the helm, business owners are taking note. As CNBC reported, “the National Federation of Independent Business’ read on small-business sentiment for December hit its highest level since 2004” in mid-January. Sales expectations increased by 20 percent, while the amount of owners thinking now is a good time to expand their business increased by 12 percent.
Opinions on the president’s character and policies are varied, but, as Mark Siebert, CEO of the iFranchise Group and Sr. Franchise Consultant, said in a Crain’s opinion piece, “whether or not you like him . . . President-elect Donald Trump almost certainly will be good for franchising.”‘
Given this pro-business atmosphere, now more than ever before is the time to purchase a franchise. As noted by Beth Zoller, legal editor at XpertHR to NBC News, the administration aims “to reduce the regulatory burden on employers; and smaller employers will see significant benefits to this as it will result in a savings of money, time and resources.”
1. Business Friendly Policies
This is the first time in many years that we have had a truly pro-business administration. As Dave Cote, CEO of Honeywell, notes in an article on Fortune, “dozens of big- and small-company CEOs [are] saying, ‘Things are looking up. We don’t want to miss out on this, so it’s time to ramp up investment.’”
Fortune goes on to note that much of this enthusiasm is due to the new administration’s stated commitment to raising America’s annual growth rate “from the dreary 2 percent of recent years to a robust 3 percent to 4 percent.” This environment encourages franchise brands to support the leap to ownership. In addition, Express Employment Professionals is offering a $10,000 new franchise bonus for a limited time.
2. Increased Deregulation
At the end of January, an executive order was published pledging to repeal two existing regulations every time a new regulation is enacted. 70 percent of small businesses reported that regulations are a large factor in deciding whether or not to grow. The study was conducted by the National Small Business Association among 1,000 small-business owners from all industries in every state.
The reductions in regulations make this the best time to start or grow a business. And growing businesses mean more people are being hired. Which is why you might want to consider choosing a staffing business as your franchise of choice.
3. Franchises are Booming
If you open a franchise office instead of starting a new business, you still benefit from lower taxes and deregulation, but don’t have to worry quite as much about an uncertain future. The franchisor will offer a proven business system, providing support every step of the way. This allows you to focus on what you do best— growing your business.
The initial setup and competition for independent business owners can be overwhelming. Owning a franchise offers an existing support network, lower risk, longstanding training programs, and existing brand recognition. In essence, owning a franchise allows you to take advantage of the current pro-business climate without sacrificing security.
If you’re interested in exploring ownership of a franchise with average annual sales per mature franchise of $6.2 million, access our virtual tour at ExpressFranchising.com.