Talk on the Street
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Talk on the Street
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Franchise Businesses Fuel U.S. Economic Growth and Stability
With 33,300 private sector hires in July, and one fifth of these from franchised establishments, it’s easy to see how franchise businesses are fuelling the economy.
According to a national survey, July saw a very positive rise in nonfarm private sector job hires, with 33,300 new jobs filled within the month. And it seems to be that franchised establishments are leading the way. Unemployment is at a 7 year low, sitting at 5.3 percent and statistics show that the labour market is heading towards full employment.
Across a diverse industry spectrum, franchises are increasingly fuelling the U.S. economy in growth and stability. The ADP say trends are showing that franchises are continuing to increase in their share of employment across the United States.
Throughout 2015 the number of franchises have continued to steadily increase and create jobs at a faster rate than the whole of the economy. And this is nothing new. In fact, growth and job creation from franchised establishments have led the way for the previous four years.
International Franchise Association President and CEO, Steve Caldeira believes it is thanks to an overall optimistic outlook towards small business since the global economic crisis that is drawing entrepreneurs and business owners towards franchised opportunities.
Derek Cafferata, CEO of All State Franchise Finders, agrees. “A franchise model offers the opportunity for entrepreneurial skills and talents to be explored and realised, without a person having to go it alone,” said Derek. With a franchise business, one can go into business for themselves, without having to actually be all by themselves. According to Derek, a good franchise will offer in depth and ongoing support for the franchisee. A franchisee can draw on the knowledge and experience of the franchisor when it comes to setup, sales, marketing, advertising and much more.
While much of the country’s franchise growth comes from the restaurant industry, other industries, such as healthcare, are becoming increasingly popular, according to Derek Cafferata.
“We are seeing an increase in interest, and in the success of, franchise businesses that have a healthcare focus, whether it be in-home healthcare, home cleaning services, or personal care franchise businesses” said Derek Cafferata.
Taking a look at the list of Franchise 500 businesses per sector, personal care businesses make up 12.6 percent, and this is on the increase.
One such successful franchise opportunity All State Franchises Finders represents is Good Feet, a world leader in prefabricated custom-fit arch supports. With more than 100 retail outlet locations around the world carrying patented American made products, Good Feet continues to expand. “Ranking in the Franchise 500 rankings each year since 2013, Good Feet is a solid franchise opportunity for an entrepreneur,” said Derek.
All State Franchise Finders specialize in franchise selection and sales. With over 30 years’ experience, the team at All State Franchise Finders represent more than 250 top franchise businesses.
If you would like more information franchising opportunities, visit ALLSTATEFF.COM or call 1-800-544-2161.