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So You Want To Start a Franchise?

Nearly 4 million Americans left their jobs in April 2021. According to the Bureau of Labor Statistics data — an unprecedented number in the two decades the government has been tracking this data, pushing the quit rate 24% higher than it was before the pandemic.

It’s unclear what the next steps might be for these workers, but it’s safe to say many might consider launching their own business or buying a franchise. In fact, according to the International Franchise Association, franchising is projected to open more than 26,000 locations, add nearly 800,000 new jobs, and contribute $477 billion to the U.S. GDP. If you are one of the many considering whether the next move is to open a franchise, here are the pros and cons, plus advice from those who’ve been there.