Whatever you’re seeking, it can be found in franchising, writes matthewhaller. 'Hopefully, Biden will recognize this before it’s too late and empower the franchise workforce to continue making incredible things happen in communities nationwide.'
Given the wall-to-wall media coverage of the"Great Resignation," it’s not a surprise that two years under pandemic conditions have led millions of people to rethink their careers and life goals. Whether inspired to re-balance work and family or motivated to launch a business of their own, people across the country are redefining success for themselves.
However, word of franchising’s advantages hasn’t fully penetrated Washington, D.C., and the lack of awareness of the benefits of franchising among some lawmakers has blunted efforts to enact policies to invigorate this vital segment of the business community. It’s especially dispiriting at a time when franchises are struggling against rising supply chain costs and severe hiring challenges.
Instead, Biden should champion franchise brands and independent franchises, which are a key engine fueling the nation’s economic revitalization after the pandemic. Independent franchises have historically outperformed comparable nonfranchise businesses during challenging times. For example, franchises shed fewer jobs during and rebounded faster after the Great Recession. Franchise strength continued through the worst of COVID-19 as franchises outpaced most other sectors, with 16.
Franchises are also key local employers, paying higher wages and better benefits than comparable nonfranchised businesses. The nature of most franchises’ products and services means that independent franchises overwhelmingly hire, train, and promote residents from the communities in which they operate. They also purchase a significant proportion of goods and services they need from local providers.
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