Economic uncertainty is driving an increasing interest in franchises, according to new research.

A survey conducted by the Retail Food Group (RFG), owner of franchises including Donut King and Michel’s Patisserie, found Australians are buying franchised businesses because it offers “greater financial potential” and ‘greater work freedom/autonomy” – the two top reasons for them wanting to purchase their own business.

At the same time, the ability to tap into a “proven business model” and “availability of training and support” also motivated them to purchase a franchise business.

RFG national sales and leasing coordination manager Faith Manning said inquiries from potential franchisees had been strong in recent months as people looked to secure their financial future.

“As global economic woes continue and uncertainty grows about their current employment arrangements, people are looking to take matters into their own hands and gain some security,” she said.

“Owning your own business is a way to seek greater financial reward for your efforts, while at the same time taking greater control of your working arrangements as you are the one in charge.

“Yet starting a business from scratch can seem daunting, particularly for those entering a completely new industry, so franchise systems offer a more secure and supported option.”