With the Economy Slowing, Franchising Picks up Speed
Suzanna Stagemeyer

March 7, 2008

In the early part of the decade, 13-year Sprint Corp. employee Joe Runyan knew the company was planning layoffs.

He volunteered for a severance package in 2002 and opened his first Hangers Cleaners licensed store in 2004.

"Knowing it's a business that works, that there's actually a demand for this product or service at least in other cities, gives you a pretty good feeling there's going to be demand in Kansas City," Runyan said.

A slowing economy -- and looming job instability -- can provide the final push for employees to explore becoming employers. Franchising or licensing become appealing vehicles for those who have an entrepreneurial spirit but lack a new business idea or the grit to risk investing in a startup.

For the rest of this story, click here: http://kansascity.bizjournals.com/kansascity/stories/2008/03/10/story12.html.

This item, which first appeared in the Kansas City Business Journal (www.kansascity.bizjournals.com), was written by Suzanna Stagemeyer, who is a staff writer.

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