‘Quasi-preneurs’ see opportunity, challenges in franchising

NEW YORK — In 2020, Kelly Jackson and Davina Arceneaux wanted to leave their company jobs and become business owners. “Interest rates move up and down, that’s what they do, that’s part of the industry.” Jackson and Arceneaux, who had been a senior IT program and project manager and an assistant director of catering, respectively, had no experience with mortgages, but Motto Mortgage provided training and support. “You don’t necessarily need experience in that industry in order to go into that category, the brand will train you,” said Matt Haller, president and CEO of the International Franchise Association. In the months after the pandemic hit, many people with corporate jobs decided to strike out on their own, in what’s referred to as the “Great Resignation.” They looked for alternatives, including opening up a franchise with an established brand. The “quasi-preneurs” opening franchises say they like the ability to buy into a proven brand name and the access to tools and operations that you wouldn’t get if you started your own small business.