Most people don’t realize how big a role franchising plays in the economy
CNBC invited me to speak about the franchise industry’s impact on the economy this morning — and why small business owners, especially franchise owners, are the real heroes of the economy.
Here’s an excerpt from CNBC’s report:
Franchise owners and small businesses are the real owners of the American economy and offer the best solution to the world’s economic ills, Jim Amos, CEO of Tasti D-Lite and Planet Smoothie, told CNBC on Friday.
“Franchises and small businesses are the heroes of our economy,” Amos said.
The U.S. franchise industry consists of more than 825,000 businesses that employ more than 9.1 million people. The industry consists of 9 percent of the private output of the U.S. economy, according to reports from the International Franchise Association.
“This is larger than any other two economic sectors combined,” Amos said.
“Franchises and small business are people who understand what it means to make a payroll, that are impacted significantly by upward and downward trends and that often have their life savings on the line,” Amos said.
The IFA expects new franchises to create 168,000 jobs in 2012.
I’ve been in the franchise industry for more than 30 years, which has given me many opportunities to see the impact that franchise ownership can have on individuals and communities.
Franchises not only provide jobs — they provide a roadmap to success for people who are willing to work hard and bet on themselves. A blog that I wrote a few weeks ago pointed to one example: Aslam Khan moved to the U.S. from Pakistan and started out working at Church’s Chicken as a dishwasher. He quickly moved up the ranks by focusing on the customer experience and mastering the chicken franchise’s systems. Now he owns more than 160 Church’s restaurants.
Too many Americans are still out of work and franchising offers them a way forward — even if they are simply looking for a job that will allow them to learn, grow and eventually take charge.
Franchise owners create those opportunities by investing in themselves and their communities.
Tasti D-Lite is working with area developers and regional managers to expand to 500 stores, which will make the opportunities and rewards of small business ownership available to even more people.
Tasti D-Lite and Planet Smoothie CEO Jim Amos has more than 30 years of experience guiding successful franchise companies such as Mail Boxes Etc. He was inducted into the International Franchise Association’s Hall of Fame in February.