During the month of February, Groe Global will be making it their business to promote the benefits that franchising can bring to local communities.
Under the banner #LoveFranchising 2023, Groe Global will devote the month of February to explain to people about the significance of franchising at local level. This month-long campaign will showcase the importance which franchising plays in the local economy, to communities all around the world.
#LoveFranchising 2023 will celebrate the entrepreneurial spirit that is cultivated through this specialised business sector. And Groe Global is describing the theme of this campaign as: ‘Love The Challenge: Growing Your Business in Tough Economic Times.’
According to Sean Goldsmith, the chief executive of Groe Global: “Over the decades, franchising has proved itself to be an incredibly powerful way for ordinary people to launch and grow amazing businesses.
“But many people do not realise the positive impact that these businesses have on their local communities. We are therefore excited to launch the #LoveFranchising 2023 campaign, which will hopefully raise awareness of the valuable contributions that franchise businesses make to their regions.
“Most people don’t realise that many of the small businesses, which are ingrained in our communities, are franchises. This February, we want to highlight the hardworking franchisees and the valuable contributions they make.”
And to back up this claim, Groe Global has published a press release which provides interesting data about the industry. The following information was compiled by Oxford Economics, which is part of Oxford University’s Business College.
Oxford Economics conducted a survey which analysed feedback from franchisors around the world. Here are just a few of the key findings mentioned in the press release:
- Local brands make up 50% of independent franchises. Only one-quarter of all franchises are quick-service restaurants.
- Franchises pay better salaries than independent companies. On average, each franchisee hires 13.6 local people, while paying between 2.2% and 3.6% more than their independent equivalents.
- Franchises are locally owned, which means resources and profits remain in the community and don’t end up abroad.
- 65% of franchisees donate to local charities. On average, they donate 6% of their annual profits.
- Franchise supply chains are structured to support the local economy. Over one-third of franchises purchase at least 25% of their goods locally.
Franchise owners can sign up at www.lovefranchising.biz where they can access a range of free resources. And be sure to use the hashtag #LoveFranchising to show your support for your local franchise favourites.
