Industry Trends
Franchising in Michigan Makes Sense: How Michigan Contributes to the National Economy by Leveraging the Franchise Business Model
Franchisors are passionate about helping Americans achieve their dreams of career ownership and self-sufficiency and are enthusiastic about helping their franchisees to be successful in their local markets, but what they might not know is how greatly they impact the national economy, employment rates, job market, and the national GDP as well.
According to franchiseeconomy.com, in 2019, franchise systems supported 8.4 million direct jobs, and created $787.5 billion of economic output for the US economy, resulting in 3% of the total Gross Domestic Product (GDP).
On the state level, franchisors contribute greatly to local communities. For example, in Michigan, there are over 23,400 franchise establishments supporting 247,200 jobs. This generates $19.5 billion in output and contributes $11.1 billion of the GDP.
Franchisors have every right to be proud of being part of the economic engine that is franchising, and The Entrepreneur’s Source is also honored to contribute to these numbers.
Not only are we a franchisor ourselves, but our Career Ownership® Coaches have worked with tens of thousands of clients throughout our 36 years in business, collaborating with franchisor members to help individuals achieve their dreams of career ownership and self-sufficiency.
Our sole purpose is in helping individuals who suffer from the Battered Career Syndrome® and Battered Investor Syndrome® explore investment options and alternative career possibilities outside of the job market by providing education, awareness, and discovery to help them gain control of their professional and financial future.
95% of our clients who invest in a franchise admittedly end up in something they never would have looked at on their own, or looked at but prematurely dismissed, prior to working with a TES Career Ownership Coach®.
We work with franchisors who are interested in guiding individuals through an educational-based and discovery experience to empower their next potential franchisees.
Reach out today to learn more about becoming a franchisor member with The Entrepreneur’s Source.
Career Ownership Coach and Battered Career Syndrome are registered trademarks of The Entrepreneur’s Source.