Even before the US Congress and the Obama Administration slated nearly a trillion dollars for economic stimulus, cities across America joined each other in spirit to curb economic blight and urban flight in downtowns nation-wide.
Today, economic decay in our country’s cities is going away. Downtown revitalization projects are bringing people back to the cities, spending money, and shopping downtown once more. Generally speaking there are lots of incentives in these areas for new businesses including inexpensive loans with low interest rates and guarantees.
But that’s not all, many offer marketing help too, through the local co-op plans run by the Economic Development Association. This means if you are considering on opening a franchised outlet of a major brand, opportunity abounds. Franchisors are well advised to take the offers of such Economic Development Associations, Municipalities, Chambers of Commerce, and Downtown Revitalization projects seriously, as they are offering some serious incentives indeed.
Consider if you will the types of retail franchises or sit down outdoor eatery type franchised outlets that succeed in such touristy type markets. See if these franchisors have other locations in refurbished urban areas, and see if they are indeed turning a good profit. If so, go visit a few of these locations and talk to the franchisees, and see if this makes sense.
If it checks out, then go to step two and look over the Franchise Disclosure Documents and sit down with the local representatives from the city, perhaps go to a Mayor’s round table meeting and looking into it more. You might just find that this is a perfect time to jump in on the bottom floor and secure a franchise of your own?