By Gary Occhiogrosso, Managing Partner - Franchise Growth Solutions, LLC.
Franchisees support communities by strengthening them financially.
In cities around the nation, franchises play an integral role in supporting the local economy through job creation and the payment of taxes. In Jacksonville, Florida, Checkers franchisees Karen and Rich Weber have turned around a franchise that failed not once with former owners but four times previously in the city. Thanks to their knowledge of the restaurant industry and franchise training, the couple has survived to see the opening of their second location in the city.
Their reputation for building customer relationships has helped them create growth within their franchise. Previous owners were not able to keep up with customer demand nor were they able to offer the same type of benefits to the local economy the Webers have. With the opening of a second Checkers in the city, there is a need for even more skilled employees to fill the roles in the business.
New Businesses Help Other Local Businesses Thrive
Men and women are more likely to shop locally when they have a reason to come into town in the first place. The excitement of a new franchise spreads like wildfire, helping other business owners meet sales goals. In return, these businesses pay more taxes due to increased sales which support the city’s budget for the year.
Employment Rates Steadily Increase Yearly Because of Franchises
According to the International Franchise Association (IFA), 2016 helped U.S. employment rates by growing 3.5 percent. The projected totals for 2017 estimated continuous growth with the addition of close to 250,000 new jobs. Franchise output was also up in 2016 by a reported 5.8%.
Franchises Earn Billions of Dollars Annually
Estimates for 2017 had franchises earning an outstanding $700 billion. Americans then contribute dollars to the local economy through payroll and taxes. Having the option to become a franchisee opposed to starting a business from the ground up is very appealing to entrepreneurs who see growth projections for franchises on the incline each year.
Take Your Great Franchise Idea and Help Communities Nationwide
Franchisors contribute a great deal of resources to communities around the globe. Launching a successful franchise business provides entrepreneurs with the opportunity to share their ideas, products, and services with like-minded business people who find franchising to be a legitimate way to go into business for themselves. The local economy thrives, jobs are created, and local business districts in cities around the globe profit.
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