Franchise Businesses Critical To Nation’s Economy
When you decide to purchase a franchise, not only do you become your own boss and take control of your destiny, you are also contributing to our nation’s economy. According to a study done by the International Franchise Association Educational Foundation in 2001, franchised businesses are responsible for providing over 9 million jobs nationwide, paid $229.1 billion in payroll, and produced $624.6 billion of output. But the economic impact goes beyond the activities inside the franchises, the supplies and products that are purchased by the franchise owners helps to make non-franchised businesses more successful. Believe it or not, the study showed that business done by the franchises generated about the same amount of additional business for non-franchised business.
If you look at the impact at a state level it really gives you a good snapshot of the impact that franchised businesses have on our economy. Take Arizona for instance, franchised businesses are responsible for 223,949 jobs within the franchises as well as 430,000 jobs created because of franchised businesses. This means that the amount of jobs caused by franchising as a percent of state jobs was 19.4% in all of Arizona. These franchises are in a wide variety of businesses, something to suit anyone’s ideal.
As you can see franchising has quite an impact on our economy. This, along with the fact that franchisors provide a proven method of doing business and a tested product line is why purchasing a franchise is one of the smartest and safest ways of going into business for yourself. Just contact me and I can help you find the franchise that best fits with your goals of becoming a business owner.
