Even Amid Pandemic, Many Franchise Prospects Top Six Figures in 2020 Household Income
Feb. 24, 2021 – More than a third of prospective franchisees earned household incomes greater than $100,000 in 2020, a relatively stable percentage despite the pandemic’s effect on employment for the better part of the year.
For this analysis, Franchise Ventures scored its pool of investment inquiries with demographic data from Alliant, a leading provider of U.S. consumer audience targeting and data enrichment and predictive analytics.
- Overall, 35% of new-investment prospects in 2020 had estimated household income over $100,000. That’s down slightly from 37% in 2019.
- Generation X, ages 40 to 55, represents almost half of all franchise prospects, and had 38.6% maintaining $100,000+ household income last year, down from 41.2% in 2019.
- Baby Boomers, ages 56 to 74, comprise a quarter of aspiring franchise owners, and are on par with Gen X for […]
Breaking News from Suzanne Cummings
This is a good morning for franchisors!
This morning, the Financial Accounting Standards Board (FASB) voted 4-3 to adopt a “practical expedient” for private franchisors”. This means that private franchise brands will be able to accurately and correctly reflect their revenue on their balance sheets in a way that works for the business model.
We will provide more information as developed.
Embracing the Unknown
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The pandemic has not changed the primary drivers of business ownership — independence and controlling your own destiny remain the most powerful motivations for owning a business. In fact, working for oneself is the No. 1 reason cited by entrepreneurs researching ownership across the leading network of online franchise information directory brands. 
