Supporting franchise business model supports job growth (excerpted from a column in the Colorado Gazette)
A central issue shaking up this election has been declining opportunity. Not only is the middle class stretched beyond its ability to cope, the most challenged class of workers - immigrants and workers without a college degree - are having trouble rising out of poverty. Candidates are stumping for a wide variety of potential solutions for revitalizing the American dream. An essential component to any successful solution is opportunity. No business model in the United States relies more on opportunity than the franchise business model, a catalyst for entrepreneurship and job creation. Today, franchising provides 9 million homegrown American jobs. Franchises are creating employment opportunities at twice the rate of the rest of the economy. Franchised businesses provide employees onthe-job training, offering entry-level workers a chance to launch a career and learn the skills they'll need in the future. Just ask President Barack Obama and Speaker of the U.S. House of Representatives Paul Ryan, who got their first jobs at franchises. Yet confusion remains at the highest echelons about this uniquely accessible engine for growth and opportunity for Americans of all walks of life. Consider for a moment your tasks this week - many of them will likely bring you in contact with locally owned franchises in your neighborhood. Chances are, these franchises are locally owned by families in your neighborhood. Don't let the recognizable brand names fool you; they are "mom-and-pop" companies run by your neighbors.
And that's the whole point of franchising - taking a successful concept and scaling it into an opportunity for aspiring entrepreneurs to open their own businesses and serve their communities. Being part of a franchise brings significant advantages, including a trusted brand name, a proven operating model, a built-in network of colleagues and advertising and marketing support. Unfortunately, the franchise industry is still largely misunderstood by policymakers and the public. This has the potential to remake our communities in profound ways, jeopardizing much-needed job creation, threatening opportunities for individuals to become successful smallbusiness employees and owners and decreasing choices for consumers throughout the state. The good news is that franchise owners are motivated to protect America's Main Streets from the negative economic consequences that would ensue should government diminish the franchise business model. They are active in advocating for smart policies and supporting conscientious policymakers who can help keep the franchising dream and opportunities alive for all of our children.