Franchise Sales Division
What Is Franchising?
The evolution of franchising can be traced back to the 1850s, but franchising as we understand it today started in the 1950s and has reached almost mythical stature over the last fifty years. A new franchise opens every 8 minutes of every business day and drives over 40% of all retail business. Annually, franchising accounts for over $800 Billion in sales, over $1 Trillion of total franchise sales and employs over 8 Million people. Franchises are the most successful businesses on the planet with over 95% success rate at the same time creating over 170,000 new jobs per year.
Who Buys Franchises?
The majority of franchise buyers are success-oriented, educated, family-minded, corporate people. As corporations switched their focus from employees to investors, they realized how expensive their senior level employees had become; they began down-sizing their mid and upper level managers to save money and improve investor stakes in their companies. This growing number of outstanding corporate managers are now the driving force behind franchising and represent a constant stream of qualified franchise buyers through Murphy Business Broker offices.
The Franchise Buyer
A 25 year study conducted by the International Franchise Association pinpointed the “Typical Franchise Buyer.” Franchise buyers will come from all walks of life, educational and economic backgrounds, but some of the typical qualifications are:
- Between 35 and 55 years old
- Corporate Management background
- Income average of $65 to 150K
- Net Worth of $250 to 600K
- Majority have IRA/401k retirement plans
- Men, Couples, Women in that order
- Most have not owned a business
- Want to build a business that will allow them to retire
- Looking for on going marketing, training and support
These are the same outstanding clients that come to our Murphy offices seeking to buy their own business.
Murphy Franchise System
The Murphy Franchise organization is lead by Tom Miller, Executive Vice President of Murphy Business & Financial Corporation. He is a 25 year veteran of franchising and the recognized authority on franchising in the business brokerage community. Murphy Business Broker Consultants are highly educated and trained with a wide range of business / franchise ownership, upper level management and franchise experience. There are a few thousand franchises available but Murphy Franchising is associated with only the finest franchises in America and works to find the “perfect franchise” for each of our Murphy clients.