Evaluate Financial Services Franchise Opportunities

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What population will support a financial services franchise in my community?

Evaluate Financial Services Franchise Opportunities

Some franchise opportunities are heavily dependent upon the local demographic, geographic and psychographic profiles of the community. It's important to understand the local and regional characteristics that define your prospective service area when evaluating the viability of a financial franchise operation. For example, will the franchise require an upper or middle class population in order to sustain growth? Use the following criteria to assess your local community when evaluating prospective financial services franchise for your area.

Social class in the United States is roughly divided into the following segments:

  • 01% Upper-Upper or the Wealthy
  • 02% Lower-Upper
  • 12% Upper Middle Class
  • 32% Middle Class
  • 38% Working Class
  • 09% Upper Lower
  • 07% Lower-Lower
To get an approximate idea of how many potential clients your financial services franchise would serve, obtain the community data from your local Chamber of Commerce and then extrapolate the above estimates based upon the percentage of the population of your community. This provides a quick easy starting place to determine if your prospective financial services franchise is the right fit for your community.

Explore a wide range of financial services franchise options at Entrepreneur.com's Business Financial Services Franchise section; from debt-collection services to cost management consulting, to equipment leasing and financing to corporate cost-reduction services, there is a business support franchise to meet the needs of every community.

   

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