NGLCC/IFA presents: Growing Your Business Through Franchising
January 27, 2021
Wednesday, January 27, 2021 | 2:00-3:30pm ET
Join the National LGBT Chamber of Commerce, the business voice of the LGBT community, and the International Franchise Association (IFA), the world's largest membership organization for franchisors, franchisees and franchise suppliers, as we explore education and growth opportunities through franchising for the LGBT and diverse business owner communities.
Hear from industry leaders, successful entrepreneurs, and fellow LGBTBEs about the opportunities to scale your business through the special IFA/NGLCC partnership.
Franchise businesses operate in hundreds of business lines, including food and beverage, automotive, education, fitness, residential services, senior health services, salons, and hotels. The vast majority of these franchise owners are small business owners in every sense. According to industry research firm, FRANdata, 75% of all franchise owners have fewer than 20 employees. Franchising is also more diverse than non-franchise businesses: nearly 30% of franchises are minority-owned, compared to 18% of non-franchised businesses.
“Owning a franchise allows you to go into business for yourself, but not by yourself.” A franchise provides franchisees (an individual owner/operator) with a certain level of independence where they can operate their business. A franchise provides an established product or service which may already enjoy widespread brand-name recognition. This gives the franchisee the benefits of a pre-sold customer base which would ordinarily takes years to establish. A franchise increases your chances of business success because you are associating with proven products and methods. Franchises may offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement.
Franchises offer important pre-opening support: site selection, design, construction, financing, training, and a grand-opening program
Franchises offer ongoing support: training, national and regional advertising, operating procedures, operational assistance, ongoing supervision and management support, increased spending power, and access to bulk purchasing.