In the midst of all the national news chatter surrounding the uncertain future of the U.S. economy, talk of a “debt ceiling,” concerns of a recession, and so forth, what you’re not hearing enough about as a South Florida resident is how the time has never been better for you to pursue small business ownership through franchising.
While the greater Fort Lauderdale and Miami area is known for its beautiful beaches and thriving business community, the region is also on the cusp of an entrepreneurial revolution. With Florida emerging as the third fastest-growing state for franchising in 2023 and the fastest-growing in 2022, according to the International Franchise Association (IFA), the importance of franchising, a proven recession-resistant model, in South Florida’s economic landscape cannot be overstated. The IFA also predicted in its 2023 Franchising Economic Outlook that the state of Florida is expected to see more than 1,600 new franchised units before the end of this year, with the Miami and Tampa metro regions expected to be among the strongest markets to contribute to franchising growth in the southeastern United States.
The South Florida market, specifically, is experiencing remarkable growth with world-class opportunities for business ownership. Florida has shown a favorable business climate with supportive policies and regulations, creating a fertile environment for franchise success with increased population and consumer demand across almost all industries.
Now we’re just over a month away from Franchise Expo South (“FES”), the region’s biggest entrepreneurial event of the year, where renowned franchise brands such as PrimoHoagies, Subway, SweatHouz, and many more will all converge on the Fort Lauderdale Convention Center to connect with eager investors looking to take advantage of all franchising has to offer.
But what do the benefits of franchising really entail, and beyond this year’s FES, how can one access them?
Empowering Small Business Owners:
Franchising allows individuals to go into business for themselves but not by themselves, creating a supportive environment for success. By joining a franchise system, entrepreneurs can access comprehensive training, marketing support, and proven operational processes. This unique model ensures that franchisees are not alone in their journey, benefiting from a network of fellow business owners and the collective strength of the franchise brand. Aspiring entrepreneurs are allowed to connect with experienced franchisors eager to share their knowledge and provide guidance for success. This empowering environment fosters collaboration, innovation, and long-term success for small business owners.
Job Creation and Economic Growth:
As Florida experiences rapid growth across most industries and especially in franchising, Fort Lauderdale and Miami play a pivotal role in driving job creation and economic prosperity. Franchising acts as an engine of growth, generating employment opportunities and stimulating local economies. By embracing franchising, the region solidifies its position as a business-friendly area, attracting further investment, and fostering sustainable development. Franchising events such as expos and discovery days become an instrumental platform for job seekers and entrepreneurs, offering access to many franchise opportunities and facilitating economic growth within the community. This growth not only enhances the city’s economy but also enriches the lives of its residents.
Networking and Collaboration:
In addition to the creation of new jobs, franchising offers a hub for entrepreneurs to network and collaborate. Within franchising, entrepreneurs can connect with experienced financial advisors, business mentors, and other experts in the franchising community. The ability to network and collaborate with franchise systems acts as a catalyst for innovation and growth, fostering a collaborative environment where ideas flourish, and individuals can engage in meaningful conversations, gain insights into the latest franchise trends and developments, and establish connections that can propel their businesses forward.
Accessing The Benefits of Franchising:
As southern Florida embraces franchising to become one of the country’s greatest hubs for small business ownership, it unlocks many opportunities and benefits for individuals to realize their dreams of owning their own businesses. The region’s economy will flourish with the influx of new franchises, leading to job creation and economic prosperity. Moreover, the collaborative nature of franchising allows entrepreneurs to tap into a network of support, enabling them to thrive in their ventures.
For entrepreneurs interested in learning more about how to unlock the many benefits of franchising and connecting with industry experts, Franchise Expo South will be at the Fort Lauderdale Convention Center on Sep. 8-9. For more information about Franchise Expo South or to register for FREE, please visit this exclusive link.
Martin Joksimovic is the President of MFV Expositions, a division of COMEXPOSIUM.With over 10+ years of progressive corporate experience in project management roles within the events industry, he is currently responsible for managing the franchise events division for one of the world’s leaders in the professional trade shows industry. Martin is also part of the management team, actively contributing to the company’s development strategy, talent acquisition and M&A efforts.Prior to taking this role, Martin was the US Group – Operations Director at Comexposium US, overseeing 10+ annual professional events for 4 major event portfolios of the group.Before relocating to the US, Martin was living and studying in Lyon, France. During this time, Martin was also a professional volleyball player for the ASUL Lyon Volley Team where in his last season (2011-2012) he helped the team reach Ligue A of the French Volleyball Championship.Martin earned a M.S. in International Business from Jean Moulin Lyon 3 University, Lyon (France) in 2013, and a second M.S. in Accounting from St. Francis College in 2018, where he was both Deloitte/William G. Parrett Accounting Masters Scholarship Recipient as well Academic Excellence in Accounting MS Program Award Recipient.