WASHINGTON, D.C.– The International Franchise Association (IFA) today endorsed Rep. Virginia Foxx (R-NC) as a “Friend of Franchising” for her consistent and strong support of North Carolina franchise small businesses.
“It is an honor to again receive this important endorsement from the small business community,” Foxx said. “I am grateful that the IFA has recognized my work on behalf of North Carolina small businesses and my track record of helping small businesses thrive, invest in our communities and grow our economy.”
“Virginia Foxx is a champion for America’s local franchise small businesses,” said IFA President and CEO Matthew Haller. “Local franchises are engines for growth in communities around the nation, and we need leaders like her who prioritize creating an environment for these entrepreneurs and the 8.2 million employees they support to grow and thrive.”
IFA endorsed Foxx based on an evaluation of factors such as her voting record, official actions, and public statements. Their endorsement reflects Foxx’s efforts to promote business growth and employee development for America’s over 775,000 franchise local businesses.
According to recent research by Oxford Economics, franchised businesses provide better wages–up to 3.4% higher–and more generous benefits than their non-franchised counterparts. They offer entrepreneurial opportunities that would not otherwise be available, especially to women, people of color, and veterans. Around 26% of franchises are owned by people of color, compared with 17% of independent businesses generally. Nearly one-third of all franchise owners say they would not own a business without franchising.
America’s 775,000 franchise small businesses employ nearly 8.2 million Americans and contribute $787.7 billion of economic output for the U.S. economy.