How Franchisees Contribute to Small Business Ownership

Work from Home and reclaim your life

Curated by WorkingFromHome

This article is an excerpt from the original article found in the Read More link – please follow for full article.

Opinions expressed by Entrepreneur contributors are their own.

National Small Business Week (NSBW), a tradition that dates back more than 50 years, is an opportunity to recognize and appreciate the small business owners who power our economy. This year’s theme is “Building a Better America Through Entrepreneurship,” and what better way to support this initiative than to focus on how small businesses impact and inspire our communities. In support of National Small Business Week, the White House released a proclamation, heralding the entrepreneurial spirit found in all of our local communities:

“Thanks to these initiatives and the resilience of the American people, America’s entrepreneurial spirit has never been stronger. New business applications grew by more than 30 percent over the course of the pandemic, with almost 5.4 million new applications in 2021 alone. More Americans than ever before — including more women and people of color — are following their dreams and starting new enterprises.”

Related: Q. What Do Virtually All Small Business Owners Have In Common? A. Hustle and Sacrifice.

Franchisees are small business owners, too

Franchisees are small business owners, too. Franchisees independently own and operate their establishments in the same way small business owners do. The main difference in a franchise establishment versus a mom-and-pop store is that the franchisee is backed by a corporate brand. However, both franchisees and small business owners independently operate their businesses, such as hiring local employees, catering to local customers and contributing to a tax base that benefits their local economy.

For individuals hoping to fulfill dreams of business ownership, franchising provides an option to launch and independently own a business, but with a proven business model, training and ongoing support. In choosing this path, new franchisees have the opportunity to become a vital part of America’s thriving small business community. Cameron and Arielle Humphries, who own and operate a Dryer Vent Squad franchise in Florida, exemplify entrepreneurial spirit, stating, “Owning a franchise allows you to skip the ‘growing pains’ that most new businesses go through. We were able to become operational within the first 60 days of signing papers and could already see profit in month one, thanks to systems that were already in place for us. Having a team behind you to support and cheer you on is the best!’”

Related: Lessons All Entrepreneurs Can Learn From the Shop Local Movement

A bright future for small businesses everywhere

Despite inflationary concerns, by almost all other indicators the U.S. economy is booming. In the past 18 months, America has added nearly eight million jobs – gaining back 93% of those lost during the pandemic. Unemployment, at 3.6%, is at a 50-year low. The current pro-business and growth environment is reflected in the amount of new franchise owners entering the small business ecosystem of their local communities. The optimism matches up with FRANdata’s franchising forecast for 2022. According to the industry’s leading market researcher, small business growth in the franchising sector is predicted to increase, gaining 17,000 new establishments, a 2.2% jump.

Related: How To Launch, Grow and Thrive in Franchising

Local small business impact

For every new franchi

Source: Entrepreneur.com

Continued here:
How Franchisees Contribute to Small Business Ownership

You May Also Like…

Adapting a Hybrid Startup Model: The Complete Guide to Bringing Your Startup Back Into the Office

Adapting a Hybrid Startup Model: The Complete Guide to Bringing Your Startup Back Into the Office

Opinions expressed by Entrepreneur contributors are their own. There’s a lot of discussion around hybrid work models right now. Since the pandemic forced most companies to make remote work possible, nearly 83% of workers have said they prefer it to a traditional office workplace. However, startups that took off during and just before the pandemic face an interesting situation. Most new companies’ entire business model is based on remote work, but now, there’s a very real possibility that in-office workdays will be feasible again soon.So, this leads us to the question of how startups can successfully bring their businesses into the office while maintaining the flexibility and productivity gains that can come from a work-from-home model. Hybrid work models have their own pros and cons, but there are a few ways that founders can begin successfully migrating to a hybrid environment.How can startups successfully bring their businesses into the office while…

5 Reasons Procurement Should Be In Consideration For Your Startup

5 Reasons Procurement Should Be In Consideration For Your Startup

Opinions expressed by Entrepreneur contributors are their own. If there’s one figure that hangs over the heads of most founders, it’s the fact that nine in 10 startups will fail.The astonishingly low success rate of new companies proves that most are not launching with the right tools to build and sustain growth. Yet, I’ve seen that the majority of teams continue to overlook crucial business activities like procurement.Out of all the potential points of failure, I’m convinced that supply chain problems can drag a startup down faster than most. Recent events like the pandemic have demonstrated that redundancy is crucial when facing drastic and unexpected interruptions in the supply chain. But product availability is not the only concern that strategic procurement can remedy.Why do we need procurement?Historically, businesses sourced products and services with one goal in mind: Find the best product at the lowest possible price. But startups that fail to consider…

Working From Home TV …

Tips to enhance your own website…

8 Best Small Business Cell Phone Plans for 2022 (with Free Option) – Website Tips

8 Best Small Business Cell Phone Plans for 2022 (with Free Option) – Website Tips

Are you looking for a small business cell phone plan to stay in touch with your customers and team members? A business cell phone plan gives you the freedom and flexibility to answer calls, communicate with your team, and attend meetings while on the go. It helps you stay connected from anywhere in the world. In this article, we’ll share the best small business cell phone plans with pros and cons, so you can pick the best solution for your needs. Why Do You Need a Business Cell Phone Plan? A business cell phone plan is important for many small business owners, so they can keep their business phone separate from their personal phone and easily coordinate with other team members. With the right cell phone plan, your customer support staff will be able to help out customers and respond to their questions while on the go. This way you…

How to Add a Blog Post Checklist to the WordPress Editor – Website Tips

How to Add a Blog Post Checklist to the WordPress Editor – Website Tips

Do you want to add a blog checklist to the WordPress editor? A checklist can help you to make your posts the best they can possibly be. If you’ve added multiple authors to your site, then a checklist can also help everyone write in the same style and remember all the details. In this article, we’ll show you how to add a blog post checklist to the WordPress editor. Why Add a Blog Post Checklist to the WordPress Editor Writing a good blog post for your WordPress website is only the first step. Once you’ve finished writing, you’ll want to edit, proofread, add categories and tags, optimize the post for search engines, and more. This is where a checklist can help. Checklists show a list of tasks you need to do before publishing your post, such as adding internal links or alt text. Some WordPress plugins such as AIOSEO use…

How to Accept Google Pay in WordPress (The Easy Way) – Website Tips

How to Accept Google Pay in WordPress (The Easy Way) – Website Tips

Would you like to accept Google Pay on your WordPress site? When you allow your customers to choose their preferred payment method, you’ll build trust and increase conversions on your website. In this article, we’ll show you how to accept Google Pay in WordPress. Why Accept Google Pay in WordPress? If you’re selling products or services on your WordPress website or asking for donations, then it’s important to let your visitors pay using their preferred method. Often they will want to pay by credit card or PayPal, but newer methods like Google Pay and Apple Pay are becoming more popular. Google Pay is available in 40 countries around the world and makes online payments simple. However, your customers can only use it if they’re on an Android device running version Lollipop 5.0 or higher, so you’ll probably want to include additional payment options for people using other devices. That being…

0 Comments

Submit a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.