As entrepreneurs and employees alike consider their business plans in light of the current economy, history demonstrates a positive outlook as entrepreneurial businesses are often created and grown post-recession and pandemics. Paris Baguette, the global bakery-café chain known for its delightful assortment of cakes, pastries and breads, seeks multi-unit owners and area developers ready to leverage the unique short-term advantages provided in the franchising industry.
Entrepreneur Magazine recently reminded us of such historical events as The Black Death in the 1300s which was followed by the end of the feudal system in Europe, which changed the face of employment. The economic recession following a 100-year war between England and France kick started a major agriculture innovation period. More modern day events like the SARS pandemic changed the retail landscape in Asia thanks to a small business called Alibaba. And in the US, a post-2008 recession study in the Journal of Economics and Management Strategy reports the largest increase in entrepreneurship of any period in recent U.S. history. In addition, more than half of Fortune 500 organizations got their start during previous recessions on bear markets.
While the cloud of COVID-19 continues to consume the public and media’s mindshare, access to capital and other government-led and business-friendly initiatives creates unprecedented advantages for business owners.
“Though the restaurant industry is facing unique challenges, we’re seeing positive steps being taken to support our industry and business owners,” says Gregg Koffler, Vice President of Franchise Sales and Development. “Specifically, we’re seeing a more open and collaborative real estate market right now, which presents the potential for greater selection and better lease terms for our franchisees. In addition, banks are offering business-friendly rates and products to encourage economic growth. As a result, we are bullish about the long-term prospects of owning a Paris Baguette franchise, and believe the short-term presents positive advantages for potential franchisees to consider.”
As Paris Baguette looks to new domestic markets to expand its international concept, the development team remains ready to discuss opportunities with interested candidates. For more information on franchising opportunities, visit www.parisbaguettefamily.com.