July 2019: Franchising Empowers Diversity
Franchising is an industry built on relationships, people, innovation, and opportunity. In recent years, the franchise sector has flourished, creating jobs that offer career progression and economic stability, as well as providing wealth accumulation opportunities for all Americans. The proven franchise business model allows for any individual to own their own local business without having to take on all the risk of starting a new brand from the ground up. This is especially helpful for women and minorities, who may be at a disadvantage when starting a new business.
In fact, franchise brands include more than 300 different business format categories. Over the past several years, these franchise brands have seen a drastic increase in minority ownership providing an opportunity to achieve the American dream.
According to the U.S. Census Bureau, there is a higher minority ownership rate among franchised businesses than in nonfranchised businesses: 30.8 percent of franchises were owned by minorities, compared to 18.8 percent of nonfranchised businesses. Overall, the minority ownership rate for franchised businesses increased by 50 percent over the most recent time period studied.
To help promote diversity in franchise ownership, IFA is leading the charge for the U.S. Census Bureau to collect data on minority and women franchise ownership more frequently. The expanded data collection on women and minority-owned franchises helps policymakers and the American people better understand the impact franchises have on the diversity of business owners in the U.S. economy.
In February, 58 bipartisan members of Congress sent a letter to the U.S. Census Bureau calling on it to expand its data collection on minority and women franchise ownership. The letter stated, “More recent and frequently-provided information could be used to help policymakers as we work to promote economic growth among underserved communities. In addition, this data could help show the success rate and ownership rate for minority and women franchise owners as they seek access to capital to start or expand their business.”
As changing demographics in the United States present a unique opportunity for franchise brands to continue to expand into once under-represented communities untapped franchisee talent and support and encourage minority entrepreneurs, IFA will keep leading the way!
"There’s a significant opportunity within franchising and the IFA for greater diversity. We see far more opportunities for minorities, far more opportunities for women. Those opportunity are created because franchisors and the power of brands have greater vision for what is possible than others do."
- WILLIAM DIPAOLA, COO, Ballard Brands
July 2019: Franchising is Built on Brands
With the new Congress comes new approaches, new messages and new messengers. The time has come to “reset the debate” and to bring the focus back to the power of the notable trademarks and diverse brands within franchising. The IFA Team has been hard at work promoting the Power of Brands campaign to educate the 116th Congress and build awareness and bipartisan support for our brands.
As a small business owner myself, I know the challenges franchises & small businesses face and I will always have your back!
- CONGRESSMAN DENVER RIGGLEMAN (VA-05)
July 2019: Brands Give Back to Local Communities
From supporting Little League baseball teams to donating food for homeless shelters, to organizing marches for cancer research, franchise brands donate millions of volunteer hours and dollars to give back to their communities. Big or small, the combined local contributions from all ten sectors within franchising create a significant impact across the United States and worldwide. From coast to coast, you will find brands hard at work growing their own charitable initiatives and teaming up with reputable organizations to change lives and contribute to the needs of people in their community.
Locally-owned franchise businesses are more likely to assist their local community. In fact, ninety percent of the money generated by franchises stays local, where it is locally shared, locally invested, and leads to growth in the community. The Power of Brands is truly locally generated, locally sustained, and locally shared. Beyond being engines of local prosperity, franchises also give back to their communities. In fact, local franchise businesses have donated over $347,173,231 and over 2.5 million volunteer hours, according to the IFA Foundation's Franchising Gives Back initiative.
"Our franchise owners care about the elderly, the disabled, and the veterans. They want to be a part of their lives, they want to show them compassion. We call it the heart of the business. They desire to be involved in their communities and serve and care for those in need." - Lane Kofoed, President & CEO, Assisting Hands Home Care
July 2019: Power of Brands Spotlight: College Hunks Hauling Junk
College Hunks Hauling Junk is a moving and junk removal franchise brand that offers reliable, professional, and friendly services. Through the power of their brand, College Hunks has created a momentous platform that provides individuals an opportunity to learn and grow and develop skills that they can carry throughout their entire career. With over 125 locations across the country, you will find many great success stories where front line team members have gone on to own their own franchise. Each franchise is locally owned and operated where franchise owners become the Mayor of their market and are recognized as being the expert and service provider of choice for the moving and junk removal needs of their clients and their community. College Hunks Hauling Junk is working to #MovetheWorld through the #PowerofBrands.
"The power of a brand is all about creating trust and credibility." - Nick Friedman, Co-Founder & President, College Hunks Hauling Junk
Learn more about College Hunks Hauling Junk by checking out their history!
June 2019: Power of Brands Hits a Home Run at Congressional Baseball Game
Team IFA hit the Hill and the Congressional Baseball Game for Charity on June 26th, 2019, to educate Representatives and fans about the Power of Brands and the positive impact franchises have on communities across America. The team gave blue and red foam fingers to the offices of the 71 Representatives on the roster and attendees so they could cheer on their party and learn more about the jobs and opportunities that franchise brands create. The Democrats took home the trophy with a 14-7 final score against the Republicans but the Power of Brands was the true winner, successfully raising the profile of franchising to over 1,500 attendees. You can read more here.
May 2019: IFA Launches Premier Education Campaign, The Power of Brands
What’s the power of a brand? The International Franchise Association is showcasing its members to bring focus to the jobs they create, the diversity they support, and communities they empower. The IFA promotes brands in over 300 different business formats that together represent more than 700,000 franchise establishments in all 50 states.
Did you know?
➢ Franchise brands create over 7.6 million jobs.
➢ Over 30% of franchises are owned by minorities.
➢ Over 30% of franchises are owned by women.
➢ Franchise brands produce nearly $675 billion of economic output for the U.S. economy.
The IFA’s new education campaign - The Power of Brands - premiered recently at the International Franchise Expo (IFE) in New York City on May 30th. IFA Chairman, David Barr kicked off the campaign and announced this new effort which is aimed at raising the profile and benefits of franchising – a model that is built on the Power of Brands.
“Behind every brand is a story – whether it’s a household name, or a brand just getting started. What we’ve learned from our conversations around the country is the impact brands have on communities and families. The Power of Brands is helping to drive economic growth and empower entrepreneurs from coast to coast.” – David Barr
A brand is one of the strongest assets a company has. They are a foundation for job creation, create loyalty and trust, and lend credibility to businesses across the Country and around the globe. A brand is more than its name. It is a story of entrepreneurship, it is the entire customer experience, and it is the positive impact brands have within local communities.
The Power of Brands campaign is putting the stories of franchise business owners front and center to highlight how brands have transformed their lives as well as hundreds of thousands nationwide. These stories happen in every state, in every city, and on every Main Street. These stories are the cornerstone of America. Some franchise brands we grew up on, many we have come to know, love, and trust and others are emerging that are creating new goods and services for everyday people.
77% of Americans agree that franchise brands create consistency and 75% believe they offer quality products and services. It is no debate that franchise brands make an impact and Power of Brands campaign provides a special opportunity to see just how big that impact really is!
Check out the Power of Brands campaign video here.
Learn more about the Power of Brands by the numbers.
Connect with our team to share your franchise brand story. Be Heard!
Power of Brands: What Franchisors Are Saying!