Originally Published by Franchise Insights
Despite the disruptions to normal human behavior due to the global pandemic, the control over one’s destiny and financial independence continue to be the most powerful motivations for owning a business in America. In a very large sample over multiple years, working for oneself remains the main motivator cited by entrepreneurs researching business ownership across FranchiseVentures, the leading network of online franchise lead generation brands. Further, this was the only motivator to increase since the fourth quarter of 2019, before the pandemic began.
“Be my own boss” was the most selected response when asked “Why do you want to own your own business?”, with 89.1% of the responses in Q4 2021, growing 0.7% more than the survey two years ago.
The survey allowed multiple responses, and many entrepreneurs also selected “Income Potential” as an additional reason – it ranks a strong No. 2, with 69.4% of the responses. Compared with fall 2019, this factor decreased by 2.9% – the largest drop among motivations.
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