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Franchising can lead to financial success for immigrants

Many people immigrate to the United States in hopes of paving the way towards a future they could never have in their old country. In Louisiana and across the nation, it is possible for a person to start their own business, and see it grow and thrive. In fact, while only 13.5 percent of the population of the United States consists of immigrants, 27.5 percent of new small business owners in the United States are immigrants.

Franchises are one popular way for immigrants to pursue small business ownership. Franchises have already established successful financial reputations and results. Brand equity, along with support systems, are other benefits of entering into a franchise.

There are many complicated regulations that are required for small business owners. Franchises provide small business owners an easier path to follow that complies with state and national regulations. Moreover, for better or worse, immigrants may find that more people are interested in doing business with them, if the business is a familiar franchise.

There are also personal benefits that come with owning a franchise. Franchising can provide financial security and a means of passing a successful business to future generations. Some franchise owners report that owning a franchise, rather than an independent small business, allows them to achieve a better work-life balance.

As this shows, franchises can provide entrepreneurs with many benefits. Whether a person was born in the United States, or came to the country as an immigrant, opening a franchise can be a means towards personal and financial success for years to come.

Source: Entrepreneur, "Immigrant Entrepreneurs Flock Franchising Opportunities," Jim Judy, May 5, 2017

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