Franchise News, Industry Trends, TES Insights
Franchising Creates Local Business Opportunities in North Carolina
It is a well-known fact that small to medium-sized businesses are the backbone of the American economy, and in the upcoming months and years, the SMB sector will be crucial in bolstering the country as the country opens again. It is not as commonly known that franchising is an integral part of the SMB sector, with 733,000 establishments supporting 7.6million jobs nationwide, according to www.franchiseeconomy.com.
When you look at industry stats, however, you can see very clearly how franchises have contributed to their local and statewide markets and the American economy at large.
If you were to look closer at North Carolina, for example, you’d see that this state alone is home to over 24,900 franchise locations that support 294,400 jobs, and 71% of voters say franchise businesses are a part of their daily life.
Not all these locations are food establishments, either, which may come as a surprise to some people. Many franchises aren’t even in the food and hospitality sector, but instead, play integral parts in categories such as home improvement, maintenance, medical and healthcare, and children’s education, just to name a few. Some may even be home-based or completely virtual business opportunities.
The majority of these are owned by local business owners who are passionate about giving back to their communities while leveraging the power of widespread brand recognition.
Our Career Ownership Coaches® work with clients to provide education and awareness around proactive investments that will give financial stability and freedom, all of which include franchising as either an investment strategy or a viable option to take control of their financial future.
If you’re interested in helping people realize their dreams, while achieving your own, reach out to us today about becoming a Career Ownership Coach with The Entrepreneur’s Source.
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