Franchise News, Industry Trends, TES Insights
Franchising in Florida: Local Businesses with National Impact
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 well-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 local and statewide market, and the American economy overall.
For example, the state of Florida alone has over 47,000 franchise locations that support 514,000 jobs, and 71% of voters say franchise businesses are a part of their daily life.
Contrary to common belief, not all these locations are food establishments, either. Oftentimes, franchises are not even brick-and-mortar businesses but are actually home-based or even virtual models covering many other industries.
There are franchises in pet, childcare and education, home services, and the health and wellness sector, to name a few, and the majority of these locations 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 your financial future.
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