Joel LibavaSo, is their really going to be a shakeout in the Franchise industry, as it relates to the overcrowded franchise consultant/brokerage field?
There has to be…….
The numbers will bear this out, I believe. The math:
Number of US Citizens interested in exploring business ownership is S {Smallish}
Number of Franchise/Business opportunities is I {Increasing}
Number of franchise consultants/brokers is RS { Really Scary}
So if S + I is divided by TMC {Too Many Choices}and divided again by FDW {Future Downsized Workers}, then the equation must be recalculated to reflect the Ginormus {Huge} amount of new Franchise consultants/brokers entering the field.
However……..The FR {Failure Rate} must be put into this newer equation as an IN{Infinite Number}.
So, according to my calculations:
1. More people will be downsized, and may start exploring opportunities in the world of franchise ownership.
2. More and more new franchise concepts will be introduced, with franchise companies using different ways to reach out to prospective franchise owners.{Consumers are already being bombarded by thousands of marketing messages every day, so this will only add to the confusion}.
3. With more and more choices in franchising being offered, and the possible number of new franchise consultant/brokers that could be in the market in the next year or two {who will also be adding marketing messages to the already bombarded consumer}, a consolidation in our industry will be inevitable.
{I feel this is starting already}
So what type of consultant/brokers will be the survivors?
Here’s Part 4
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