What Is The Power Of A Brand?
By Erica Farage, IFA
The meaning behind the motto.
A brand name is one of the most valuable assets a company possesses. They create loyalty and trust, convey consistency, and lend credibility to businesses across the United States and around the globe. From quick-service restaurants to yoga studios, hotels, and home health care services, franchise brands exist with over 300 business formats and play an integral role in our economy and our communities. With over 730,000 establishments operating nationwide, franchise brands contribute to 674.3 billion of our GDP, and a workforce of nearly 8 million strong.
A brand is more than its name. It is a story of entrepreneurship, it is the feeling customers leave with after each experience, and it is the impact brands have within the communities they inhabit. Seventy-percent of Americans agree that franchise businesses are a part of their everyday life. Think of the franchise brands we grew up on, many we have come to know, love, and trust. Those and others are emerging and creating new goods and services for everyday people. These brands are the cornerstone of America and can be found in every state, every city and on every Main Street.
IFA launched a new education campaign aimed to raise the profile of franchising made possible through our strongest asset – BRANDS. This educational campaign, called the "Power of Brands," brings focus to the inspiring stories of the people and organizations with unique skill sets, diverse backgrounds and countless perspectives behind the franchise industry. Through this campaign, we are utilizing a dynamic network to connect with new audiences, key markets and legislators to bring awareness to the significance of the franchise business model.
The Power of Brands is a far-reaching grassroots effort, supported by the launch of a new website, powerofbrands.org. This is a digital resource that puts the stories of franchise business owners front and center. These stories communicate how franchising is unparalleled in that it lays a foundation for job creation and training, opportunity, and the ability to be in business for yourself, but not by yourself. Through these testimonies, you will learn how brands have transformed the lives of franchisors, franchisees, their employees, and hundreds of thousands of people nationwide.
The opportunities created by brands are driven by real people, impacting real lives. Take Aslam Khan, CEO of Falcon Holdings LLC. After immigrating to America, Khan began working as a dishwasher at Church's Chicken and quickly worked his way to assistant manager. The skills Khan acquired brought him success as a leader and today he runs Falcon Holdings, a top 100 private company which owns 350 franchise restaurants and employs thousands. Success stories are commonplace within franchising.
The Power of Brands team is organizing strategic initiatives to reach external voices through localized events, social media, and the mobilization of IFA members. Utilizing events like this year's Congressional Baseball Game for Charity gave us a platform to educate the offices of 71 members of Congress and over 1,500 attendees about the Power of Brands and the positive impact franchises have on communities across America. While 72 percent of Americans think locally-owned businesses are more likely to assist their local community than large corporations, we believe that connecting with new audiences and key stakeholders in unique and meaningful ways will help forward the greater mission of the IFA.
Since IFA began in 1960, our goal has been to serve the national franchising community by promoting and protecting our members and their businesses. We believe through our advocacy campaign, the Power of Brands, we will make franchising voices stronger and drive change for generations to come. 7
Erica Farage is Vice President of Political Affairs and Grassroots Advocacy for the International Franchise Association.