Improving Economy Spurs Growth In Franchises

HandyPro was recently featured in an article in the Detroit News titled “Improving economy spurs growth in franchises.” The article discusses how the improving economy is lending to an uptick in growth for franchise brands. Keith Paul, co-founder and owner of HandyPro, discusses the expansion plans for HandyPro and their upcoming opening in Grand Rapids, MI. Keith also expands on their conscious effort to fill the senior demographic. Click here for the full article, and check out the sneak peak below.

Improving Economy Spurs Growth In Franchises

By: Joe St. Henry

Budding business owners in southeastern Michigan, many wanting to cater to an aging population, are aggressively pursuing franchise opportunities to fulfill their entrepreneurial dreams.

Franchise consultants say their clients have become more serious in the past year, encouraged by the state's improving economy and business tax reforms.

"We had a lull in franchises, with many people staying on the sidelines," said Mark Cory, owner and franchise placement specialist at consultant FranNet in Grosse Pointe. "With the better economic climate and positive news, now they're ready to jump in."

This interest is not limited to Michigan. The International Franchise Association projects more than 775,000 new franchise businesses will open across the country in 2013, a 1.4 percent increase over last year.

Local interest in service-oriented businesses that cater to seniors is no surprise, considering 10,000 people are turning 65 daily across the country, living longer and purchasing plenty of goods and services.

"Baby boomers are driving the senior care market," said Terry Coker, CEO of The Entrepreneur Authority of Michigan. "Everyone wants to know what franchises are available in health care."

This includes Mark Lines, 45, who opened the state's first ActiveRx franchise in January in West Bloomfield. He spent more than 20 years in the medical device field before he began exploring franchise options two years ago. ActiveRx combines physical therapy with strength training for seniors. He plans to open up to five more locations within five years.

"I absolutely have a passion for changing the quality of seniors' lives for the better," he said.

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