We now have even more reason to believe that owning and operating a franchise business will continue to be the wave of the future. Industry experts are forecasting at least a 2.2% growth in franchising this year. Given this sunny outlook, it’s not hard to see why Island Fin Poke continues to utilize a franchising system to grow and prosper.
Why is Franchising So Popular?
There are many reasons, but one of the best selling points for franchising is that it gives people a chance to own a business without needing to totally invent every aspect. For example, here at Island Fin Poke, we recruit people to open new restaurants by training and mentoring them through our proven business model, which is successful all over the country.
The franchise business numbers don’t lie. This is one component of the economy that’s really booming.
- In 2021, franchise employment grew 8.8%, the equivalent of about 46,000 new jobs every month.
- This is especially prolific in the American Southeast, the place with the most franchise businesses. Franchises in that region employ 2.6 million Americans and contribute $235.9 billion to the economy.
- Many franchise businesses, like FastSigns, experience much lower turnover rates contrasted with non-franchise operations.
- The Top 10 states for franchise growth in 2022 are Texas, Florida, Arizona, South Carolina, Idaho, Tennessee, North Carolina, Utah, Montana, and Nebraska.
This is an especially popular way to do business in the restaurant industry. Roughly ¾ of all restaurant businesses are franchise companies, including popular chains like McDonald’s.
Take Advantage of Franchise Fever With Island Fin Poke!
Not all franchise businesses are created equally, of course. Some of them have exorbitant startup fees that discourage more risk-averse entrepreneurs. That’s why Island Fin Poke is proud to offer franchise opportunities with much lower initial costs.
One of the most important aspects of franchising is the dedicated relationship between a franchisor (the parent company) and a new franchisee (potential business owners like you). We cultivate these important partnerships in several ways:
- Several hours of training, including on-site mentorship.
- Continuous support and development after launching a franchise.
- All the necessary equipment for success (the physical store, cooking supplies, surveillance equipment, marketing tools, your own website, etc.).
- . . . all at a total investment roughly between $194,950 – $355,600, which is sharply lower than other restaurant startups that can cost more than $1 million.
This only scratches the surface of all the reasons you might consider starting a franchise business.
Island Fin Poke has franchise locations in more than a dozen states. All our restaurants serve fresh and delicious seafood meals in a fast and friendly manner. If you’d like to learn more about franchising, poke, or anything else about us, feel free to call us at (702) 755-1258 or fill out our franchise inquiry form.