Talk on the Street
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Talk on the Street
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Pride Power and Franchising
The LGBTQI+ community is a powerful force and franchise owners will benefit from embracing this strong, diverse group. Showing support for, and of, the LGBTQI+ community is key.
The Power of the LGBTI+ Community
Referred to as pink money, the pink economy, pink market or rainbow capitalism, the LGBTQI+ community is strong, intelligent, influential and keen to spend their hard-earned cash. It is reported that the purchasing power of the LGBTQI+ community globally is approximately $3.7 trillion.
For an emerging community, it is great to see. As stereotypes gradually diminish and our society becomes more educated, the LGBTQI+ community will only grow from strength to strength. All of which is positive news for business, our society and our economy as a whole.
For the gay community, pink money brings with it financial self—identification, offering LGBTQI+ individuals a community to feel apart of and to feel valued and recognized. Along with influence to bring about needed legislative changes, the staggering $3.7 trillion purchasing power of the LGBTQI+ community has also brought about an increase in businesses who are focused on offering specific or unique services to those within the gay and lesbian community.
For franchising, pride power, and the support of it, involves creating a supportive and inclusive work environment, as well as showing support as a business to customers, clients and the local community.
Fostering A Supportive Workplace Environment
Genuine support for the LGBTQI+ community begins with showing inclusivity and diversity within the workplace. The workplace must be an environment where everyone feels valued and accepted, where staff are educated and conversation is encouraged. Acknowledge and celebrate Pride Month and other pride celebrations within the workplace.
Show Pride Support as a Business
There are a number of ways franchises can show their support for the LGBTQI+ community.
“Partnering with a non-profit organization is a great way to show support as a business,” says Derek Cafferata, CEO and President of franchise experts All State Franchise Finders. “There are a large number of non-profits doing some great work with businesses.”
The Trevor Project, Phluid Phoundation, Human Rights Campaign and GLAAD are just a few organizations helping franchises become more supportive, understanding, inclusive and diverse when it comes to the gay community and business.
For franchise owners who regularly give donations to various causes, consider giving to pro-LGBTQI+ foundations. These groups do some amazing work across the country, focusing on small individual communities right through to pioneering national and governmental changes.
All State Franchise Finders Here to Help
All State Franchise Finders is the country’s leading franchise expert. Derek Cafferata and his team bring with them more than 30 years’ experience in the franchise industry, both in the United States and around the globe. If you need guidance or advice with better understanding how you can utilize pride power in and with your franchise, then contact the team on 1-800-544-2161 or visit allstateff.com today. ALLSTATEFF.COM – your award-winning franchise experts.