Franchise

Nature of the Industry

For many people, the dream of owning a business is thwarted by finances. It takes a lot of capital to fund a business. One solution to this dilemma is franchising. For a cost, an independent investor may purchase the right through a contract to sell the goods or services of a large corporation. In this way, the large corporation gains a market and the individual investor earns the opportunity to own and manage a business. A franchise is defined by its trademark and product or service specialty. Many popular franchises exist in the food and hospitality industries, but franchises extend to other industries as well, including finance, plumbing, automobiles, and health care. Overall, forecasters expect franchise jobs to increase or decrease at the rate of the related industries. For example, jobs in food services are expected to increase at a below moderate rate over the next several years due to a decline in restaurants. However, prospects are better for employees working in the fast-food industry, which includes many franchises.

Types of Jobs

Franchise jobs exist in virtually all industries and in all areas of specialty: advertising, consulting, drivers and crew, finance, guest services, management, marketing, and sales.

Training and Education

To obtain a franchise job, a person must possess skills in the following areas: mathematics, verbal and written communication, and technology. Typically, a job applicant for a managerial position should have a bachelor's degree in a related field such as business or finance. Workers interested in entry-level jobs may need a high school diploma and related experience. Some positions may be available for students as well.