Jim Laganke: Why is New York the best place to start a franchise business?

Everyone should strive for new goals. It is one of the best ways to protect yourself from economic funk. Today, most people are looking for opportunities to be their own boss by starting a business. However, starting a business from scratch is not an easy task and it brings a considerable amount of risk. Therefore, a franchise business is the most suitable option for those who don’t want to do 9 to 5 jobs.

But according to Jim Laganke, certain factors play an important role in the success of a franchise business. The place where you open a franchise is one of those. As per the Small Business Administration (SBA), NYC has  4 million small business employees and 2.1 million small-scale companies that make up more than half of the private workplace. The economy in New York takes the third position in the United States. Do you know even one of the leading food franchise business Stewart’s All American has an outlet in New York City?

If you want to open a franchise business, below Jim Laganke explains why you should consider NYC to start a franchise.

Here are the reasons why you should start a franchise business in New York State.

Numerous options to collaborate - New York City, also known as the Big Apple, is buzzing with countless entrepreneurs and franchise startups each year. Also, it is a place with the top game-changers in business and corporate world. So technically, NYC is a place with many options to mingle, network and seek out mentors. Therefore, if you want to collaborate, solid experience and voice of reason are all you need. 

Survival chances are more - Starting your own business in New York requires a lot of capital investment. Rent is really high in NYC. If you want your start-up business to succeed in New York, you might need a lot of capital investment. This is why investing in franchise ownership is the best decision. When it comes to franchise businesses, they are backed with well-established brand names and proven systems, which means lower risk. Hence, better chances for survival.

The bottom line

Please remember, New York City is not only a promising place for your franchise business’ growth but also offers numerous benefits, such as a large talent pool and freedom to do anything you want. This means you can invest in any franchise industry from food to fitness and health care. There is growth in every field.

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