Franchising and the Economy Infographic
In all the talk about deficits,unemployment, and the precarious state of our nation's economy, one of America's most powerful engines for recovery is often (and foolishly) excluded from the conversation -- a classic case of missing what's right under our nose. Developed and perfected right here in the U.S., the franchise business model represents the ideal blend of national heft and local business, accounting for hundreds of thousands of stores, millions of jobs, and billions in annual output.
Measuring the Impact of Franchising on the U.S. Economy
Few people realize how critical franchising is to our economy, but as the infographic below illustrates, some of the most celebrated brands in the U.S. today were launched during times of deep recession, and franchised businesses as a whole continue to serve as a model workhorse for productivity and wealth creation in our nation.
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Should You Run Your Business from Home
The U.S. Labor Department's Bureau of Labor Statistics recently con­ducted a survey of home-based businesses and estimated that there are just over four million self-employed, home-based workers. (The number of franchised businesses in this total was not calculated.) However, the National Association of Home-Based Businesses, in Owings Mills, MD, puts the number at closer to 50 million people. Whatever the accurate number is, it is a number that everyone agrees will only continue to rise.
5 Mistakes Most New Franchise Systems Make
Starting a new franchise venture is exciting – the anticipation of building a system, helping others succeed, financial success … all fueled by entrepreneurial energy and adrenaline!
Getting into Baby Boomers Wallets
Savvy businesses have been marketing to the Boomer generation for years. But interest is accelerating now that Boomers are approaching their 60s. In this day and age, no business can afford to ignore the economic realities of this phenomenon, with one in three adults currently at least the age of 50. The target audience for these marketing schemes should be adults aged 54 to 64. They have the deepest pockets, with an estimated average net worth of $210,000 -- higher than any other age group.