Most franchisors stay the course when it comes to searching for new franchisees, and even new franchise locations. They open new franchises in, or at least close to, major population centers. Personally, I've received inquiries from people who live in small tows, and even rural areas, who've wanted to explore franchise ownership ideas with me. (Not a lot of inquiries, but a few)
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When I've asked franchisors to take a look at those small areas, the answer I get, nine out of ten times is something like, "Joel, there's just not enough population to support a franchise location in Blue Ridge Manor, Kentucky, but thank you for thinking of us."
That always makes my day.
Recently, I was reading an article that I had asked Becky McCray to write for Small Business Trends. (Disclosure; I'm the Community promotions Director there) In the article, she pointed out the fact that " Baby boomers are migrating. The USDA is predicting more Baby Boomers will retire to small towns than previous generations. This is going to mean an increase in the active 50-75 age group in some small towns. Get your business ready to welcome these new residents."
This made me start wondering if we'll start seeing an increase in franchise chains in smaller, even rural areas. Franchisors; You've been looking for ways to grow your footprint for the last few years. Can you start taking advantage of this growing trend? More importantly, do you want to?
Becky shared several more "Rural Small Business Trends For 2010" that smart franchisors may be able to leverage to their advantage. I don't suggest waiting to long to do so....
Ever see a virtual business card like this?
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Unstoppable Family
Brian and Rhonda Swan
Posted by: Unstoppable Family | June 25, 2010 at 08:56 PM
Hi Becky,
Thank you for chiming in with that information. I will let you know if the trend continues to move forward, for sure.
As pro-franchise as I am, I'm hoping that franchising will enter smaller towns in a slow, steady, and classy way.
(Or not at all)
The Franchise King®
Posted by: The Franchise King | February 05, 2010 at 10:26 PM
Joel, since I've connected with you, I've been much more aware of franchises. In fact, a franchise recently opened in my hometown of 5000 people: Alva now has a Candy Bouquet. http://www.facebook.com/pages/Alva-OK/Candy-Bouquet/313687190081
This makes me think that smaller franchises are now considering small towns as big opportunities. I'd love to hear more about this trend.
Posted by: Becky McCray | February 05, 2010 at 10:16 PM