Franchise Spotlight: Finance
The financial services franchise sector is a stable industry, whatever the economic climate.
The financial markets in America are the largest and most lucrative in the world. Statistics show that in 2019, the economic output of financial services in the USA reached approximately $787.5 billion. It is no surprise then that this booming sector offers a host of lucrative franchise opportunities. Some of these include: bookkeeping, brokerage, payroll services, mortgage & financial advice and more. They also play an important role within the franchise industry itself, helping businesses excel and thrive.
Finance industry analysis
One of the many benefits of the finance sector is that these businesses are in demand whatever the economic landscape. During the good times and the bad, companies rely on financial services to navigate and guide them through the, often complex, nature of the financial side of their business. Furthermore, economic downturns can bring about change to a business e.g. downsizing, re-structuring etc, and so financial services can be relied on more than ever during these times.
In some instances, potential franchisees will not need prior financial experience. However, those that have a background in mathematics, accounting, economics or business tend to thrive in this sector. The training from the franchise brand is usually intensive, thorough and informative, with ongoing support provided after, to ensure you are well equipped to run your successful business.
Having done your research and identified the right franchise for you and your success, these businesses can be highly rewarding and lucrative.