Immigrants Redefining the American Dream through Franchising

Just in time for June’s Immigrant Heritage Month, the biggest names in franchising will head to New York City’s Javits Center from June 18-20 for the International Franchise Expo - the biggest franchise expo in the world - to showcase their franchises as the best investment for thousands of aspiring business owners exploring their options at the show. And statistics suggest many of these IFE show attendees will be immigrant entrepreneurs - a group that launched business at twice the rate of native-born Americans in 2014.

And if you, too, are an immigrant seeking your first, or next, franchise business opportunity, consider the following as you hit the IFE exhibit floor later this week:

• Today’s immigrants are turning to franchising and entrepreneurship to redefine what it means to fulfill the American Dream:
  • Immigrant entrepreneurs launched 28.5% of the new businesses in 2014 — up from 25.9% a year earlier and 13.3% in 1996.
  • Immigrants account for 12.9% of the U.S. population, according to the most recent data by the U.S. Census Bureau.
  • The research showed that immigrants started new companies or became self-employed at nearly twice the rate of native-born Americans, creating an average of 520 businesses a month per 100,000 people last year.

• And according to the IFA’s most recent Franchise Economic Outlook, franchising will continue to experience sustained growth in 2015 despite difficult legal and political battles, like the joint- employer and minimum wage debates:
  • Franchise businesses will add 247,000 new direct jobs this year, a 2.9 percent increase to 8.8 million direct jobs over last year.
  • The number of franchise establishments will grow this year by 12,111, or 1.6 percent, to 781,794.
  • Economic output from franchise businesses is estimated to increase by 5.4 percent over last year to $889 billion.
  • The gross domestic product of the franchise sector is projected to rise by 5.1 percent this year, which is faster than the 4.9 percent GDP increase forecasted for the economy as a whole. The franchise sector will contribute about 3 percent of the U.S. GDP in 2015.

There’s no question that immigrant franchisees have been critically important in helping franchising outpace the American economy as a whole for six straight years. And many of these business owners have used the International Franchise Expo to interact and engage with an international audience and determine which franchise company is the best fit for their personality, lifestyle and skill set.

We look forward to seeing you at the IFE show! Please take a moment to stop by the IFA’s booth - #305 to learn more!