Franchise owners and small businesses are the real owners of the American economy and offer the best solution to the world’s economic ills, Jim Amos, CEO of Tasti D-Lite and Planet Smoothie, told CNBC recently.
“Franchises and small businesses are the heroes of our economy,” Amos said.
The franchise industry in the U.S. alone consists of more than 825,000 businesses that employ more than 9.1 million people.
The industry consists of 9 percent of the private output of the U.S. economy, according to reports from the International Franchise Association.
“This is larger than any other two economic sectors combined,” Amos said.
“Franchises and small business are people who understand what it means to make a payroll, that are impacted significantly by upward and downward trends and that often have their life savings on the line,” Amos said.
The IFA expects new franchises to create 168,000 jobs in 2012.