Franchise News, Industry Trends, TES Insights
Idaho Values Home-Based Businesses in Franchising
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 — according to www.franchiseeconomy.com, there are over 733,000 franchise establishments supporting 7.6million jobs nationwide.
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.
In Idaho alone, for example, there are over 4,700 franchise locations that support almost 45,600 jobs, and almost 70% of voters say franchise businesses are a part of their daily life. This generates over $3.3 billion in output and contributes $1.8 billion to the GDP.
Perhaps surprisingly, many franchises aren’t focused in food, fast-casual or the hospitality sector, but instead, play integral parts in many other categories Americans rely on and use often. Furthermore, franchises in these various industries are not always brick-and-mortar concepts; some may even be home-based or completely virtual business opportunities. According to franchising.com, other franchise opportunities in Idaho include senior and home care services, property management solutions, tutoring for children, and tax services.
Most franchisees are local business owners who are passionate about having a positive impact on their communities while taking advantage of widespread brand recognition and the support of a tried-and-true franchise system.
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.
Career Ownership Coaches is a registered trademark of The Entrepreneur’s Source.