Selling In Tough Times: For These Franchisors, This Is The Perfect Time To Grow
You’d think selling franchises in one of the worst economies since the Great Depression would daunt even the hardiest franchisor.
But many franchisors, both well-established and new to the scene, keep on plugging when the economy goes south. Some even consider this a great time to grow.
“We’re running diametrically opposite the economy,” says Jerry Laesser, Martinizing Dry Cleaning’s vice president of marketing and franchise development. Considered an upscale dry cleaning service, the brand “always was recession-resistant,” says Laesser. “We’ve had decreases in California, Florida, and the Northeast, but we’re making money.”
Aaron’s Sales & Lease, with its “small town America” expansion strategy, is another well-established franchisor reporting record franchise sales in 2008 despite the credit crunch. The 54-year-old company has more than 1,500 locations nationwide and expects to keep on selling 150 to 200 franchises annually, says Greg Tanner, Aaron’s national director of franchising.
The fact that everyone who enters an Aaron’s store is “approved for credit” helps keep customers coming and franchisees happy. For this reason, Tanner, who considers the rent-to-own industry to be recession-proof, is expecting an even “better year in 2009.”
Despite the economy, store sales for Tampa-based i9 Sports increased 37 percent over 2007, and 2008 revenues are expected to exceed $15 million, up from $10.2 million in 2007, reports founder and CEO Frank Fiume. He attributes the growth to “parents who would rather cut back on spending for themselves rather than sacrifice activities for their children.” Continue reading.
Related posts:
- US Franchises Find Opportunity To Grow Abroad Wall Street Journal: As a sluggish economy continues to hobble...
- Making A Match With Franchisees And Franchisors Salt Lake Tribune: Jodi Rowell, a Syracuse-based consultant for MatchPoint...
Related posts brought to you by Yet Another Related Posts Plugin.
