Franchising as an industry first came into its own between the 1920s and 1940s, when several hotels and gas stations began offering businesses that came ready-made with a comprehensive system of operational and marketing strategies. The idea netted long-term success for franchisees and franchisors, leading to some of the oldest and biggest-name franchises we know today. Organizations quickly learned that the model was sustainable across an expanse of industries, including entertainment franchises (which encompass wine and paint franchises). Since those early years, franchise business opportunities have become a powerhouse in America’s economy and a blessing for risk-averse entrepreneurs.
Why is franchising growing so rapidly?
Because it works. Franchise opportunities allow aspiring businesses a couple of major luxuries. One, franchise owners can pursue their dreams in an industry that they love. Two, franchising eliminates much of the risk and guesswork that usually accompanies a new business start-up. Small business franchise opportunities offer benefits that someone would not be able to get starting a business on their own. Today, franchises for sale range widely, from food to healthcare to entertainment franchises.
Franchise opportunities have become the clear choice for entrepreneurs who acknowledge their need for guidance and who value a long-term plan for business success. They’re so popular, franchise ideas and concepts account for a disproportionate share of retail sales throughout the U.S.
- The franchising industry employs over 8 million people in the U.S., and franchise employment has consistently outpaced other businesses economy-wide.
- It is estimated that franchise businesses will be responsible for over 757.2 billion dollars in economic output in 2018.
- Sales for retail products and services through franchises have consistently grown year-over-year, from 2015 through 2018.
Information provided by the International Franchise Association.
Why open an entertainment franchise?
The creative entertainment industry, which includes wine and paint franchises, offers broad appeal to franchisees and consumers alike. It’s just fun! For franchisees, an entertainment franchise is an exciting, unique business opportunity that’s fun to build and fun to talk about. It’s a refreshing change of pace from a corporate job or other routine-based occupation. For consumers, the franchise is a place to party with friends, escape the stresses of their own occupations, reconnect with loved ones, and explore a creative outlet. If you’re entrepreneurial and a people-person, starting a paint and sip business is likely to be a personally rewarding venture.
Besides being fun, entertainment franchises fall into a valuable category of U.S. household spending.
- The amount the average household spends on entertainment is more than any other luxury category, including apparel, alcohol, personal care products and services, and even education.
- On average, household entertainment expenditures have increased 6.65% annually over the past four years (2014 through the end of 2017).
Information provided by the Bureau of Labor Statistics.