By Norman Eng
According to the U.S. Census Bureau’s Economic Census[1], there are over 300 different types of franchise businesses in America – contributing significantly to the fabric of our main streets. The importance of franchising, particularly in the food service industry is highly impactful. An estimated 122,042 franchise restaurants make up approximately 54% of all fast-food restaurants and contributes to about 73% of all fast-food restaurant employment.
In industries other than food service, the data also revealed that franchise ownership was associated with a higher percentage of sales and a higher annual payroll per employee in those businesses – compared with the industry average.
But Ruth…
Sitting in a counseling session at 125 Woodland Street at the Clark University-based Small Business Development Center – Ruth Agbaji was... Read More