Navigating Entrepreneurship in Times of Economic Uncertainty

Here’s why franchising with Spherion is a strong option if you're exploring business ownership during a recession.

Business ownership is one of the most exciting ways to advance your career; however, any career move comes with inherent risk. With economic uncertainty on the horizon, many are wondering how to navigate starting a business amid rising inflation and other challenges. As a leading franchisor in the resilient staffing space for more than 75 years, Spherion is well-versed in building careers for countless professionals across a variety of economic conditions. Here’s why franchising with Spherion is a strong option to consider for those exploring business ownership during a recession. 

Leverage an Established Business Model

There’s nothing like a trusted brand name for customers during tough times. Spherion is backed by more than 75 years of experience in the staffing trade and provides potential franchisees a clear framework for how to build and grow a successful staffing business in their market. Our leadership and corporate team are here to assist franchisees at every step of the process, including site selection, staff recruitment, operations and more. Working within an established framework mitigates your risk because we have cultivated proven strategies for how to succeed at staffing. Spherion also boasts the necessary purchasing power to provide tech security and marketing resources that franchisees need to grow.

Operate a Recession-Resistant Business

Because we help our customers save money and operate more efficiently, there is a significant application for what we do whether the economy is up or down. Employers will always need to fill open positions. Even when a recession necessitates staff downsizing, many employers turn to staffing companies like Spherion for temporary, contract workers to complete essential work that must still be done. And when the economy starts growing again, as it always does, employers look to Spherion to fill temp-to-permanent roles as well as new direct-hire roles created by such growth. Finding a franchisor like Spherion that is part of an industry that has staying power, even in times of inflation, should be a business factor you take into account when researching a business venture that fits your strengths and goals.

Research Expanding Franchise Networks

One of the best ways to assess the health of a franchise business is to evaluate its growth. For franchisors, you’ll want to ask how much and how sustainably a franchise network has recently grown and how much they expect to grow in the coming years based on market demand.  Spherion has grown its franchisee roster by more than 20% and expanded into eight new markets in 2022! We expect continued strong growth in 2023 as businesses of all sizes look to staffing companies like Spherion to help them manage their staffing needs more efficiently.

With a formidable franchisee network of 216 Spherion offices across the nation, new franchise owners get into business for themselves, but not by themselves. Beyond the resources that a franchisee network offers, these individuals are huge validators to interested investors as well. And, seeing a franchise brand achieve growth goals like milestone unit counts and revenue records reassures our interested potential franchisees that their investment in our brand will continue to grow beyond economic indicators like inflation. 

Starting a franchise is a big deal, and here are several factors to consider when planning out your next career move. With the impending economic shifts slated to affect the business world, franchising offers entrepreneurs the opportunity to alleviate some uncertainty and find stability in the marketplace. Interested in growing with a leading franchise brand? Reach out to the team to learn more about franchising with Spherion!