Our nation, indeed the world, is mired in the worst recession in 60 years. The nightly news provides a steady diet of plummeting retail sales, corporate bailouts, downsizing, a soft real estate market and foreclosures, a healthcare crisis and record unemployment. So, with all the bad economic news, why would anybody think of buying a franchise?

Frankly, the tough economic times are precisely why many people look for opportunities that counter a suddenly unstable job market—and often look towards the benefits of franchising. The recently (and unexpectedly) unemployed may be tired of the uncertainties of the job market and be ready to fulfill a pent-up dream of business ownership. Retirees may no longer be able to afford retirement, and "unintentional" corporate refugees and people who have "downsized" careers or have seen the equity in their homes plummet may look to business ownership as a way to take charge of their lives.

Starting a business from scratch, especially in a poor economy, may present even greater economic risks. On the other hand, buying into a franchised business with an established brand offering a well-tested franchise concept can present an appealing opportunity. If the franchise opportunity has a strong track record of profitable performance and is with a franchise system with a fair franchise agreement and a collaborative franchise culture that includes an effective relationship with a strong franchisee association, the franchise option of business ownership can actually provide a strong solution to confront and withstand a troubled economy. And that's what has drawn a whole new generation of franchisees to the table during this economic downtown.

Given the promise of starting a business that has already proven itself, and perhaps has already proven to be recession-resistant, those fleeing or just locked out of the job market will find franchise investment to be well worth investigation. So, just who are the new faces of franchising? Truth be told, today's franchisees are coming from the same walks of life as previous generations. It's just that the current economic conditions have drawn even more people from several distinct areas.

Existing multi-unit owners represent one such area. Increasingly, franchisors’ favorite prospects already have demonstrated business success in franchising. Just as prospective franchisees are urged to seek out a franchise system that has a proven track record, franchisors turn to existing multi-unit franchise owners looking to expand their businesses with multiple brand investments. Everybody loves a proven commodity and franchisors, as well as franchisees, are no different.

The franchisee who has run a successful operation at one location is far more likely to run a successful second, third, fourth location or more than the newcomer. Especially if that franchisee can recruit the staff needed to duplicate the systems and operations at additional locations. Then, it is merely a matter of having the capital or not to buy the additional franchises.

Franchising has drawn professional athletes dating back to the 1960s. And why not? Most athletes either have the capital or the ability to raise the capital to buy into a franchise-the most critical element of franchising.

Second, there are a good many athletes who realize there will come a day when they can no longer play and that planning should begin while they are still active. Franchising offers a way to transition to their post-playing days to a career with a proven brand and the resources to help them learn a business.

Finally, franchising also provides a way for athletes to capitalize on their celebrity and convert it into success in business.

The pool of candidates from corporate refugees has grown rather deep in recent months. It includes the recently downsized who have chosen to work for themselves rather than put their fate in the hands of corporate America again. Joining them are those who did not get downsized but have grown weary of waiting for the other shoe to fall and want to control their own destiny.

As spokes in the corporate wheel, these individuals have seen how businesses run and bring a variety of skills to the table in running a franchise. And while their ability to raise capital may have been impacted by the soft real estate market doing a number on their home equity, many have earned enough long enough to be able to raise the capital to purchase a franchise.

Beyond managerial and executive skills, this group of franchisees also brings an added dimension to the table. After years, even decades, of working for somebody else, these individuals are now running their own show, controlling their own fate. So rather than cruising towards retirement, these individuals are now in the game in the middle of the action. That can create an empowered, passionate franchisee willing to go that extra distance to become successful.

But a caution to those seeking to escape the corporate culture-the world of small business, even with the support of a franchise network, can be a rude awaking to those used to ‘calling for office support’ or requisitioning supplies from the warehouse.

I once had a franchisee confess that when he started his retail business he failed to evaluate that he "never had a job when he was on his feet all day," nor had he considered that he would "dislike dealing with customers on a daily basis."

Franchisees must create as well as stay within their budgets, deal directly with customers, and learn how to "fend for themselves." In most franchise systems, franchisee support comes in the form of advice – often with added expense.

The bottom line is that running a small business - even one where the business plan is well structured and carefully laid out - is hard work and not to be undertaken without sober evaluation and consideration.

Along with the multi-unit franchise owner, the store manager brings something very valuable to the franchise table: knowledge of the business. The store manager turned franchisee also has the added value that they can actually run a franchise themselves, saving a median store manager salary in the $60,000-per-year range.

The store manager does face the challenge of raising the capital necessary to buy a franchise, but that’s only part of the issue. As we all know with franchising, you not only need to raise the capital to buy your franchise, but the funding to get your operation going-even if your background is that of a store manager.

Still, the store manager-turned franchise possesses the same intangible of the downsized corporate exec and is passionate about having a say in final decisions.

Of the five "new" faces of franchising listed here, veterans returning from duty and looking for a franchising opportunity is probably a fairly new phenomenon. Not that it hasn’t happened before, but with activity overseas winding down and the economy still in tough shape, it’s something we’re likely to see more and more of.

The veteran faces the challenges of raising capital, something difficult to fund with a military pension or wages. Still, many franchisors do offer discounts to veterans, which has helped them to become one of the "new" faces.

Whether you fall into one of these five groups or not, in tough times, the franchising option provides a particularly compelling opportunity.

However, contrary to conventional wisdom, franchising is not for independent thinkers who really are looking to calling their own shots. Franchising can be a happy medium for those who want to be in business for themselves but are willing to follow a well defined business plan.