More than one in three people who want to buy a franchise already own a business, a survey by FranchiseSales.com has revealed.
Thirty-five percent of those who want to buy a franchise already own a going concern, with 7% running an existing franchise.
Yasmine Siddiqi, a director of Dynamis, the online media group behind FranchiseSales.com, says: “People in business buy businesses. We've always known that.
“And buying into a good, proven franchise with a strong brand has always represented a great way to expand your wealth."
Franchising continues to attract would-be entrepreneurs from a wide range of professional backgrounds, with 47% of respondents having previously occupied a senior role in a business.
"Over the years we've helped doctors, lawyers and directors of blue-chip companies buy a business. We even had an investment banker buy a handyman franchise a few years ago," continues Siddiqi.
"You're not just buying a salary, you're buying a lifestyle too, and in these troubled times that idea is something more people are taking seriously."
Buying into a good, proven franchise with a strong brand has always represented a great way to expand your wealth
Yasmine Siddiqi, Dynamis director
Nearly four in five (78%) of those polled have at least some experience of running businesses. Seventeen percent have built and sold a business before.
Just over one in five (22%) of would-be franchisees, meanwhile, have no experience of running businesses whatsoever.
Men are more likely to already own a business than women, 37% compared to 25%.
Results from the latest FranchiseSales.com quarterly survey coincide with the site’s relaunch.
Redesigned for the touch-screen era, the website has been rebranded and made easier to navigate on smartphones and tablet PCs.