With September 15th marking the beginning of National Hispanic Heritage Month, it's the ideal time to invest in a Hispanic-owned franchise. If you're an entrepreneur at heart and of Hispanic origin, consider celebrating your heritage by entering the business world. Here are a few things to know...
Franchises are essentially small businesses. Having a labor pool to select the best and most qualified candidates can allow you to get on the fast track to success. The United States has a Hispanic population of over 59 million. Not only is this a labor pool with almost limitless possibilities, but it's also a great way to reinforce and support the community.
Hispanic-owned businesses have grown by leaps and bounds. In a ten-year period, between 2002 and 2012, it was estimated that Hispanic-owned businesses grew approximately 45 percent. This growth led to a great deal of sustainability and stability during the 2008 recession for the national, and some state, economies.
According to a study done by Stanford University, more than half of the Hispanic-owned businesses in the US are in the top five industries when measured for sales growth. In areas with a high Hispanic population, it was determined that 75% of Hispanic-owned businesses served their communities and a wider demographic that lives outside of them.
Identifying which Hispanic-owned businesses are thriving and what locations might be favorable to invest in is easier than you may think. Each year, the Latino Franchise Symposium gauges the Hispanic-owned business world and provides information on the most promising opportunities.
Market research has shown that many consumers prefer to support smaller businesses, including Hispanic-owned businesses, because of the positive impact on their local communities, especially if they offer alternatives to larger corporations that have dominated the business landscape for years. Getting involved in a smaller business can be more enjoyable, fulfilling, and easier to operate.
Whether you’re an entrepreneur or an investor, FranSave offers many opportunities just waiting to be seized. We can provide the means to get you on the fast track to success and stay there. For your opportunity, pay us a visit at fransave.com.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your jurisdiction. Franchise offerings are made by Franchise Disclosure Document only.