Voter concerns about the economy ring loud and clear. There’s no shortage of ambitious solutions floating around, yet, if Congress wants to have a real impact on affordability, it should focus on helping the backbone of the American economy: small businesses. Unfortunately, one category of small business—franchises—faces enormous threats from Washington.
The franchise business model plays a pivotal role in sustaining the dynamism of the American economy. Licensing the branding and operational systems of franchisors—including big companies like McDonald’s, Planet Fitness, and Marriott—allows aspiring entrepreneurs to scale proven business models while keeping control over their day-to-day operations, such as hiring and training employees. Combining the expertise of established brands with the initiative, local know-how, and capital of small business owners has fueled prosperity across the nation for decades.
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