08 Sep, 2017

Steps To Creating A Franchise

Creating a franchise opportunity With the recent passing of the huge economic stimulus package there has been some speculation about whether some of its provisions will create or spur the development of new creating a franchise opportunity in certain industries like health care or renewable energy. The obvious question is whether major government incentives and investments in these 2 highlighted industry sectors will create sustainable franchise business models after the initial boost from the stimulus spending bill plays out. In my opinion the answer is that this is a very realistic development given the scope of the stimulus bill and some of stated new policies of the current administration regarding health care and energy. In fact, potential small business creating a franchise opportunity emerging from the stimulus bill are becoming more obvious, and appear to have a very good chance to create some viable franchising opportunities for entrepreneurs. Heath Care: According to what I have read, the economic stimulus package includes nearly $20 billion dollars to help digitize or computerize health and medical records in the United States. I would think this could present some serious potential creating a franchise opportunity for small business owners and entrepreneurs because obviously private companies will become involved in providing services for this enormous and long term project. Renewable Energy: From what I have read and heard nearly $60 billion of the $790 billion stimulus bill will be spent on alternative and clean energy projects and other environmental related projects and research. This includes billions of dollars for greening government buildings, weatherizing homes and businesses, and providing significant tax credits and grants to help fund and subsidize renewable energy applications across the board. Surely this type of massive government investment will almost certainly spawn a number of new franchising concepts to service the emerging business and consumer needs that will be created by this commitment. This would conceivably include the development of solar power related service franchises that would provide installation of photovoltaic panels for residential and commercial applications. In summary it's going to be an interesting time to see how the franchising industry will adapt and ultimately capitalize on the potential business creating a franchise opportunity and new markets that will be created and supported by the stimulus bill spending. My guess is that it should ultimately produce some viable and profitable franchise companies that may someday become familiar household names and brands.