Texas Great for Entrepreneurs

The Great State of Texas is ripe for entrepreneurs. Report after report recognizes the tremendous opportunity of doing business in Texas. 1851, a leading franchise-focused blog, cited back in 2012 that Texas would be amongst the best states for franchising in the years to come stating that "Texas has remained ahead of the curve with increases in population, job expansion and small business growth." The Times Record News reported this week that Texas ranks as the best state for female entrepreneurs to open small businesses. Bill Hethcock of the Dallas Business Journal wrote an article earlier this month stating that ,"small and midsize businesses in Texas are more optimistic about the global and local economy than their national counterparts in 2019". 

Joe Matthews, founder of Franchise Performance Group and former Subway developer, has gone on the record many times lamenting the rapidly expanding number of brands entering the franchise industry. In an October 2018 article he stated that hundreds of brands are entering the game every year despite a fairly flat entrance rate of new franchisees. It's getting harder and harder to stand out in the growing crowd. Matthews reflects on several changes that he's seen accompanying this proliferation of brands such as the professionalization of franchises and the influx of Private Equity.

Google defines franchising as a verb meaning to "grant a franchise to (an individual or group). The term dates back to the late 18th century, but came in to popular usage from the 1950s forward. 

Thanks to the work of the National Association of Women Business Owners, we know that American women now operate 39% of privately business and those businesses provide nearly nine million jobs close to two trillion dollars in sales. It's expected that Women ownership will continue to expand. A June 2018 report by Small Business Trends shows that rates of women and minority franchise business owners have climbed in the past few years. Between 2007 and 2012 minority ownership of franchise businesses went from 20% to 30%, which has grown much faster than non-franchise business. Ownership of franchise business also went from 20% to 30% in that same five year period.  A June 2018 article by Forbes corroborated this information and went further, showing that back in 1995, the proportion of women-owned franchise was less than ten percent.

Fort Worth: An Overview

According to DataUSA, there are 855,897 people living in Fort Worth, TX. The median age is somewhat young at 32, the median property value is $151,000, and the most common professions are in business management, sales, and healthcare administration. Several major companies are headquartered in Fort Worth including American Airline, BNSF Railway, and RadioShack. Fort Worth has a higher than an average rate of residents whose first language isn't English. The top non-English languages include Spanish, Vietnamese, and Laotian.

Atlanta Economy

According to DataUSA's 2016 records, Atlanta's metropolitan area has nearly six million residents with a positive growth rate. The median household income was $62,613 and rising. The average property value was just shy of two hundred thousand and also rising. Over sixty percent of households are lived in by their owner and the average Atlanta resident has a thirty minute commute. Atlanta holds the headquarters of notable nationwide companies such as Coca-Cola, Home Depot, Delta Airlines, and Chick-Fil-A. Atlanta is a diverse metropolitan area. There is nearly half a million Spanish-first residents, as well as sizable populations of African-language speakers, Chinese speakers, and Korean speakers. 

Bethesda Market

According to BestPlaces.Net, Bethesda has some incredible economic markers. For starters, the unemployment rate stands at 3.7% and the average income is well above the national average. DataUSA corroborates that information by noting that the average household income in Bethesda is nearly $150k. There are considerable numbers of people employed as scientists, in healthcare, and in tech services. 

Alexandria Market

Directly across the Potomac River from the nation's capital, Alexandria is a place of economic prosperity, enjoyable living, and opportunity. The greater DC area is one of the most prosperous metropolitan areas in the world, and Alexandria benefits from this placement. There is a considerable amount of development going on, with the Alexandria Economic Development Partnership releasing a report showing significant construction going on in multiple locations in Alexandria.

Charlotte Economy

Charlotte, NC is a growing metropolitan area. According to the U.S. Census Bureau, between 2000 and 2010, just shy of two hundred thousand people moved to the city. That doesn't include the multitudes that moved to the surrounding metro area. With a population approaching three million people, Charlotte is truly a growing metropolis. Unsurprisingly, there are economic motivations driving people to the city. Charlotte is a known center of the national banking and financial industry, second only in scale and scope to New York City. Charlotte is also home to several large regional companies such as Duke Energy, AT&T, and US Airways. The Charlotte Chamber reported three thousand added jobs in the second quarter of 2018, a below-national-average unemployment rate of 3.4%, and a metro area 12% rise in home valuations. Things are happening in Charlotte.

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