Perhaps the biggest question that folks ask after any major election is will the new President be good for their industry, their business, or our economy in general. And there is good reason for this, as many folks' livelihood is at stake.
No one that has a good paying job, a family, a house and a couple of cars want to get a pink slip or be laid-off from work and with the US economy in recession, perhaps President Obama's victory has some people wondering.
In the franchising industry, it's no different, President Obama will definitely matter for both franchisors and franchisees. For franchisors there will be higher costs perhaps more taxes and more regulations. For franchisees some of these regulations may help them as investors in franchise business opportunities, making sure there are adequate transparency rules, accountability and consumer investment protections.
Senator Barrack Obama while running for President promised to look out for the little guy, and to take care of small businesses, in fact, he said on his website that he believed small businesses were the backbone of our economy, something that most politicians say. He also claimed that the economy was his top priority and a strong economy is very good for franchising and the many franchisees that have bought into the franchise opportunities.
But, did you know that franchising companies enjoy their biggest spurt and growth periods during down times? It's true, and it is because unemployment is high, lay-off numbers increase and there is a steady pool of new franchise buyers to choose from, allowing franchising companies to pick the cream of the crop. So, think on all this and then make your own decision.
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