Increase in Arizona Jobless Rate

Though economic downturns may create opportunities for some Phoenix entrepreneurs and Arizona Franchisees, joblessness isn't anything that brings a spirit of cheer. According to this article, Arizona currently matches the national statistic for jobs and is hovering at close to 6 percent. "And economists at the state Department of Commerce said the situation will continue to deteriorate for the immediate future. New figures Thursday put the seasonally adjusted unemployment rate at 5.9 percent. That’s up three-tenths of a percent from August; a year earlier the figure was 3.8 percent.The last time the state jobless rate was this high was July 2003." The credit crunch, commodity prices and lack of consumer confidence have all been blamed as possible factors.

Top Franchises on AOL

According to this article, in its recent release of the top searches for franchise opportunities, businesses that offer fitness services and the opportunity to live a healthier lifestyle have entered the top 10 most searched for business opportunities in the competitive franchise arena, which included such well known brands as McDonald's, Subway and Denny's. The growing Colorado-based Fitness Together Holdings, Inc., the world's largest wellness company, made the list with its two franchised business models: Fitness Together® (www.fitnesstogether.com), the world's largest personal training organization; and elements therapeutic massage® (www.touchofelements.com), a massage therapy concept. Scott Wendrych, Chief Sales and Marketing Officer, Fitness Together Holdings, Inc. said that "In today's economy, people want proven brands for career opportunities that also promote a better society. Today, we are realizing a record number of new people interested in owning their own Fitness Together® or elements therapeutic massage® business."

Fitness Together® began franchising small personal training studios in 1996, has awarded more than 600 franchises and now has 419 fitness studios open nationwide. The massage therapy franchisor has sold more than 100 franchises in 18 months and now has 55 massage studios open in 19 states.

Slow Economy Spurs Franchisor Deals for Franchisees

Though the current state of the economy is making some would-be franchisees wary of making big investments, franchisors are coming up with creative ways of helping franchisees and wooing buyers. Franchise companies, facing competition for prospective franchisees are offering two-for-one deals, reduced fees, bonuses for buyer referrals, extended financing deadlines to attract franchisees. According to this article, one such example is Interiors by Decorating Den of Easton, Md., which says it has seen a 33% decline compared with last year. "In response, among other incentives, it is offering to finance up to 50% of the franchise fee (or up to $15,000) for qualified individuals with a minimum of $55,000 in liquid capital. People may have the skills but not the capital to launch a franchise, says Kevin Atkinson, Decorating Den's vice president of program development."