- Cole Gorman
Franchise opportunities: always fertile ground for TN entrepreneurs
The United States commercial market is the largest and most varied in the world. It thus comes as no surprise that bright and enterprising individuals are always focused upon ways to enter it and profit from their creative energies.
That is certainly true regarding entrepreneurs across Tennessee having viable ideas concerning business creation and growth. Even a cursory survey of business expansion in pockets spanning the state reveals an evident vitality coupled with great future possibility. We noted in a recent blog post (please see our Cook Tillman Law Group October 21 entry) that “Tennessee has emerged as a regional powerhouse for attracting new and already established businesses.”
Growth is on display across myriad industries. It is also especially notable in one specific sphere.
Namely, that is the franchise model, with growth opportunities evidenced in businesses that literally span the alphabet (e.g., auto decal shops to petting zoos). Legions of proactive and forward-looking individuals — both startup entrepreneurs and established company principals – are daily making studied forays into new commercial ventures.
The publication Entrepreneur prominently spotlights that in its annual issue focusing on franchise categories worthy of exploring and tapping into. The magazine underscores its enthusiasm for the franchise business climate and the realm’s ready embrace of potential owners who have carefully conducted due diligence and devised a strong plan for success.
Entrepreneur duly notes that things change over time and that the franchise realm is replete with hits and misses (it gives a nod to the hype linked with disco roller rinks in the 1980s, for example).
It also stresses, though, that opportunities reasonably seem to abound in a number of areas. Those range widely from beauty/grooming establishments, child care centers and entertainment outlets to fitness offerings, pet services, new types of restaurants and more.
The publication stresses that opportunity comes with a necessary reminder for every would-be franchise entrant to “do your homework.” Entrepreneur specifically notes that readiness will depend heavily on timely consultation with proven attorneys having a demonstrated record of advocacy on behalf of diverse business clients.