Franchise Explosion Attracts More Entrepreneurs; Louisville Couple Pioneers New Marketing Concept

LOUISVILLE, Ky., Feb. 13 /PRNewswire/ -- The industry statistics are startling and speak volumes about the entrepreneurial spirit of America: A new franchise opens in this country every eight minutes.

According to the International Franchise Association, there are now more than 3,000 franchised brands, spanning 230 different lines of business and creating jobs for more than 18 million Americans. From 2003 to 2005 alone, more than 900 new franchise concepts entered the U.S. economy.

When Mike and Shannon Baker wanted to open their own business, they investigated dozens of franchise possibilities before settling on PRstore (www.prstore.com), a new retail concept that allows owners of small to mid- size businesses to access agency-style marketing services in a friendly walk- in environment.

PRstore had about 25 units in a dozen states at the time the Bakers were searching for a business. After investigating lots of options, the couple decided the fledgling concept best matched their skills and interests. Based on their experience as corporate marketers, they believed PRstore's broad mix of marketing products would be well-received by small business owners in Louisville.

The Bakers say their assessment is proving correct as Small Business Louisville has responded positively to their year-old presence in the market. Meantime, the franchise has expanded to more than 40 stores in 19 states, stretching from New York to Honolulu.

Last month, Entrepreneur magazine announced that PRstore has joined the ranks of the magazine's prestigious Franchise 500. Entrepreneur editors say the ranking is based on financial strength and stability, growth rate and size of the system.

"There's clearly more risk associated in aligning yourself with a new concept that does not yet have an established national brand like other franchises," Mike Baker says. "But there is a sense of being in on the ground floor, of pioneering something entirely new in the marketplace. That is challenging but can also be exhilarating."

Shannon Baker agrees. "There's nothing like PRstore in the marketplace today," she says. "We are changing the way marketing services are delivered to America's small to mid-size businesses. It's a positive change that is being welcomed by a large segment that has been underserved until now."

According to industry figures, fast-food franchises remain the largest segment of the industry, but the services category with recent entries like PRstore is experiencing the biggest increase in the number of new concepts.