Why Franchising?
It's estimated that there are over 2,000 franchise systems within 75 different categories operating within the US. A study presented by the International Franchise Association concluded that franchising has an annual economy impact of $2.3 trillion dollars while creating 21 million jobs. (Franchise Economic Impact Report)
The mutually beneficial relationship between franchisors and franchisees makes franchising unique in the world of business. It provides entrepreneurs with an affordable means of accelerating expansion and achieving development goals more quickly than might otherwise be the case and with far less risk. Similarly, franchisees have a head start because of the support provided by the franchise system.
Franchising means being in business for yourself but, not by yourself.
Whether it's accounting and financing, advertising and public relations, personnel management, purchasing, or inventory control, franchisors are there to provide "hands on," one-to-one assistance. While franchising does provide opportunities, it does not create miracles. Franchisees combine knowledge and resources with entrepreneurial drive and spirit to form a business relationship unique to franchising. Franchising is a field of expanding economic opportunity in which each and every person can play a part based on talent, initiative, and dedication.
