• Jennifer Callender

Diversity Franchising in 2022: Your Year to Own A Franchise

#2022franchising #ownafranchise #franchisebusinessownership




Though recent times have seen their fair share of chaos, the old adage still stands strong: there's no time like the present.

The present: to make your long-held dream of business ownership a reality.

“More and more people are separating themselves from corporate America and going into a business,” explained Alesia Visconti, CEO of FranServe, Inc., the world’s largest franchise consulting organization.

“This has been trending for years. Corporate America doesn’t provide the stability it once did nor offer the longevity it used to...If there's a silver lining in the pandemic experience, it was that it gave people a wake-up call to make choices that aligned with their family values and future aspirations.”

So if you are an entrepreneur or existing business owner looking for a new opportunity, we applaud you because franchise business ownership is your ticket! Thanks to owner support and the turnkey business model, it's now more seamless than ever to become a franchise owner.

"Since franchising had an exceptional year in 2021, 2022 looks to be another strong year of recovery", according to the most IFA (International Franchise Association).


Here are some key predictions for the year:


  1. Franchises’ GDP contribution to the overall economy will remain stable at 3% in 2022, higher than the pre-pandemic level, to a total of $501 billion.

  2. Franchise employment is forecasted to grow at a rate of 3.1% to a total of 8.5 million jobs, (almost 257,000 more jobs compared to 2021)

  3. Output of franchise businesses in nominal dollars is forecast to improve by 4.9% to $826.6 billion in 2022.

With many businesses getting back into full swing since the start of the pandemic and more franchise industry opportunities than ever, this could just be your year!

2022 Success as a Franchise Business Owner

Franchises in the US employ more than 8 million people. Here are some top reasons why you should consider investing in and owning a franchise:

  • Franchising opens up unique opportunities and flexible options as a business owner

  • Investment can start low, which allows for higher percentage payback.

  • You have the backing of a corporate brand you need to be successful

  • Allows you greater control of your finances and retirement funds.

We are going to cover in detail a couple of success tips to get started you should note and discuss with your franchise consultant:

1. Procedures for operating your franchise (company operations manual)

2. Rules and regulations stated in the franchise agreement

3. Suggestions recommended by your field rep

4. Technology made available by your franchisor

5. Franchisor’s marketing plans to follow

6. Tracking and maintaining your numbers

7. Creating close relationships with other franchisees

8. Getting involved in the franchise industry community

9. Virtual and in-person networking opportunities

10. Setting continual goals for growth

Join the Diverse Community of Franchise Owners

Recent years have shown an incredible increase in the number of franchise owners owned by minority groups.

Let's review some of these stats:

  • Over four million businesses in the US are minority-owned, comprising less than 20% of our vast network of private industry.

  • Minorities account for 20 percent of franchise owners, as opposed to 13 percent of non-franchised business opportunities.

  • Each year, more than 50% of new businesses are started by minority owners.

Jennifer Callender is a franchise consultant focused on fostering a clear pathway to franchise business ownership for minority groups. Jennifer participated in the first minority-focused Angel Investors cohort in Atlanta, GA. As a result, she’s provided guidance and seed investment to several early-stage minority-owned companies. Most recently, her unique background has afforded her the insight and passion for leveraging franchise strategies as a means to educate and empower transitioning corporate professionals into business ownership.

Franchise Education Opportunities

Jenivid Solutions offers an educational foundation and ongoing support to franchise business owners. Whether you are looking to own a franchise today, tomorrow, or sometime in the future, we have what you need to get started.


Don't miss out on this opportunity to book a complimentary 30-minute session with Jennifer to discuss your goals. Also make sure you follow us and our partner groups on socials, so you can benefit from all our pooled resources.

We are here to help you succeed as a franchise owner in 2022.



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Sources:

Why Diversity in Franchising Matters | 1851franchise

2022 Franchising Economic Outlook | IFA

Minority-Owned Franchises - Where Are We Now | Franchise Direct