Are 95% of franchises successful?
Speaking of tall tales, have you heard the one about the United States Department of Commerce reporting that franchises have a success rate of 95%, while non-franchised business start-ups have a failure rate above 90%.
It must be true, right? After all, this statistic (or a variation of it) appears on over 100 franchise sites, including websites of franchisors, organizations, publications, and franchise brokers. It’s a shame that the U.S. Department of Commerce never issued those statistics, and never tracked failure rates of independents vs. franchise chains.
Read my myth-shattering article here, (Lies, Damn Lies & Franchise Statistics) and watch for future articles on the Jackalope, the Hodag, Bigfoot, the honest franchise salesman and other improbable creatures.
Related Stories
POSTED IN: x Insider Tips
0 opinions for Are 95% of franchises successful?
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: