What does a franchise owner look like these days?
The industry has seen a swath of changes lately that seemingly open the field to very different types of owners. More chains are offering work-from-home options, or other pared-down setups with low initial investments, for instance. And lots of businesses are trying to get veterans to invest.
At the same time, some sectors are seeing existing players strengthen their positions, as big, multiunit owners buy up existing outlets and get preferential treatment for new territories.
So, what have all these trends, and any number of others, done to the demographics of ownership? How many stores does the typical franchisee own? How much does it cost to buy into a chain? And where are the most—and least—popular locations to set up shop?
Here’s a closer look at today’s typical franchisee: