Jim Penman compares survival rates: independent businesses have a 5-10% chance of lasting the first year, while franchisees have an 88% survival rate. About 9% of franchisees report poor income, with most reporting good earnings.
About 5–10% (speaker's estimate).
Around 88% (speaker's citation).
Roughly 9% (speaker's statement).
Comment that's come to us online. I've had two mates who went into gyms. Both them lost their money, went bankrupt and they would have been better off putting $20,000 into advertising and doing it by themselves. Very simple. The chance of being successful as an independent is about. You've got about 5 or 5 and 10% chance of lasting your first year. This is what statistics show. You look it up online with us. Your chance of surviving the first year is around about 88%. And of the 12% who don't, some of those have gone independent or they've gone to other jobs and so forth. So it's not the normal failures of our franchisees. Roughly 9% report poor income, most report good income. So it doesn't guarantee success. But what it does mean is that no matter how much money you've got to put into it as an independent, you'll probably fail. With us, you'll very likely succeed.
Rising mental illness and falling birth rates have the same cause, it is this.....
