Why Invest in a Phoenix Franchise?
Fully Promoted is thrilled to announce that we are looking for a hard working person with ambition to open our latest franchise in Phoenix, Arizona! Phoenix has everything a fledgling Fully Promoted franchise needs to thrive: a strong and growing economy and invaluable business resources. When you open a franchise in Phoenix, taking advantage of these two things will help you maximize your business’s success. Keep reading to learn more about what Phoenix has to offer you and your business.
Nationally Ranked Economy
Phoenix’s economy, which has traditionally been rooted in manufacturing and tourism, is slowly but steadily getting more diverse. The technology and service industries are particularly growing, and financial services and banking have seen moderate growth due to the presence of multiple processing centers and/or regional headquarters of some big names in finance, including American Express, Chase Bank, Bank of America, Wells Fargo, and Discover Card. More than one-third of Arizona’s entire workforce is employed in Phoenix, either living nearby or commuting into the city for work. These factors, combined with the lower-than-average unemployment rate, contributed to Forbes’ ranking of Phoenix as #44 on its list of the Best Places for Business and Careers. In short, the strong and steady economy will provide a foundation on which you can build a thriving Phoenix franchise.
Small Business Association
As you get ready to open your franchise in Phoenix, it’s important to take advantage of all the resources available to you so that you can fully prepare to open and sustain a business. The Small Business Association, or SBA, is a national organization that offers a vast support network and resources to small businesses. The Phoenix office can offer your franchise help developing a business plan, finding sources of funding, and creating a marketing strategy. One of the national SBA’s main goals is to assist small businesses in getting access to funding, especially in underserved areas. In 2014, the SBA 7(a) loan program increased the number of approved loans by 12% over 2013, and increased the dollar amount lent by 7.4%. By lending a total of $19.19 billion in 2014, the SBA helped thousands of small businesses get started, buy supplies, or expand. Even if your Phoenix franchise doesn’t need funding, utilizing the other services that the SBA offers can help your business start out right.
Phoenix is a dynamic and exciting city that has a lot to offer an up-and-coming franchise. With its thriving economy and association with the Small Business Association, investing in Phoenix is a smart business move that will surely take you far. If you’re ready to become your own boss, click this LINK to learn the next step in opening a Fully Promoted franchise in Phoenix.