Pete: [00:00:00] Whoo, I'm pumped up.
Oh, and by the way, good morning, Nat.
Nat: Good morning, Pete.
Pete: Why am I pumped up, you ask? Well, that's a good question. So I got to tell you, I like when it is 75 degrees in the winter. That, I'm kind of getting used to this, this snowbird stuff. I don't know if I'm, I'm coming back to
that. I kind of like this.
Nat: Well, hey, you technically can work from anywhere if you have a computer and an internet, right?
Pete: Yeah. I kind of wish I was sitting in the pool as I was doing this podcast, right, to make you a little jealous. Yeah. Yeah. That is why. And then hopefully you can see I got a little color, right? So I've been yeah, yeah.
So not much, but you know, it doesn't take much for my white skin to, to turn red. So for sure. Excellent. So I thought today, what we talk about, cause I'm, I'm in this nice beach community and it's [00:01:00] interesting. There's a lot of franchise businesses here. And, and I thought maybe what we do is we talk about why local economies benefit from executives investing in businesses or having business owner ownership, right?
So, so these executives, we talked about this today, you know, executives need to be prepared because they could be pushed out of these companies. They need to diversify their assets and their income. And, you know, as we talk about it, they invest in these businesses and it has a real impact in their communities.
And so, I thought we'd cover the 10 reasons why they impact the community. Sound good?
Yeah, I think Florida is like one of the franchise, you know, capitals, one of the franchise states, or one of the states with the most franchises.
Yeah, absolutely. Well, there's so much economic growth and so many people are moving there.
And as they move there, they want to create income or, you know, build something. And it's just natural that it is booming. So, so I think one of the reasons why businesses investing in a franchise [00:02:00] in that local community is you're creating jobs. Totally. Totally. Yeah, absolutely. And I think it's, it's a great feeling when you can help create jobs in a community and we need more jobs for sure.
First of point, what would be a second reason why investing in
Nat: a local community? Economic growth. I think franchises, obviously they contribute, they generate sales tax. So they contribute to economic growth and help pay for things.
Pete: Yeah, it's commerce, right? It's adding money into the economy with that business, for sure.
All right, what would be a third? Reason why a franchise would impact a community?
Nat: The well, I think executives that buy a franchise, they bring their skills and expertise to their business. So I think that that's a huge positive because they can bring that to their local economy. So like helping, helping employees become better, help them grow.
Pete: Right. So I [00:03:00] take that experience. I hire these people and I start giving them more skills, teaching them, helping them from that standpoint. And so that, that is, it's, it's for lack of better terms, educating or advancing the labor pool in, in your market.
Nat: Absolutely. We'll be another one. Increased local spending.
When, you know, you start a business, obviously the, the local economy is going to benefit from more spending.
Pete: Yeah, absolutely. Dollars being spent, right? You know, but that keeps things going, right? The more money you have in circulation, or money being spent, it just keeps everything, keeps it going. And that's how communities die, right?
Is when people quit spending money. Yeah, as you're,
Nat: as you're, speaking of spending money, has your wife found the the Yoga 6 down there?
Pete: Well, there's not a yoga six here, but she is, yeah, she's, she's joined a I got a little trainer. So yeah, she's supporting the local economy when it comes to personal training.
So that's nice. [00:04:00] Yeah, absolutely. Okay. What else? What would be another reason why, you know, somebody investing in a franchise in a local community, the impact?
Nat: It just creates like a rich entrepreneurial environment. So when, you know, if you're investing in a business, you're contributing to just entrepreneurship in general.
Pete: Yeah, it's just, it's a, it allows your local community to continue to develop, right? You have more entrepreneurs, that just is an ecosystem that things grow. That helps. All right. What would be
Nat: another one? The you know, I don't think people think about this that often, but just infrastructure improvement, like a business.
When you think about a business, like when I see them come into my town, a lot of times they'll, you know, be improving the the facade of the building. So, like you know, literally they're improving the infrastructure, the building, the sidewalks, the windows, the doors, like all that kind of stuff.
Pete: I think about like by me Ogden Avenue, right?
And it's turning [00:05:00] over and you have these businesses coming in and they're taking over an old facility and redoing it. And then they're redoing everything around it. And you see it really just changing the landscape of the street. And it's by these businesses. There was an entire franchise that just went up there, right?
And there's a big Bathroom remodeling business, right? So you see more and more of these food Dunkin Donuts, right? Things like that are coming in and they're, they're adding to the infrastructure or the Costco, right? Costco is a great, not a, not a franchise, but, but a business that came in and that's changing the face of that street.
They've. They're adding to the infrastructure, for sure. Certainly more traffic, thanks to the Costco, but that's a whole other story. I think they've got that Amazon distribution warehouse
Nat: down there, too. Yeah, yeah, thank you. So, all right, good. What else? What would be another reason? Community engagement, like it's, when you own your own business, you know, you're obviously have the opportunity to be much more involved in your local community [00:06:00] and charities and programs.
So that's kind of a rewarding, feel good part of business ownership.
Pete: Well, and we've talked about this before, is that community benefits from that, right? So as I come in, I sponsor the local little league team, right? Or I join a group the JC's where they're doing fundraising or, or events and stuff like that.
So you are making a real commitment to the community as a business owner. Yeah. What would be another reason why investing in a franchise in a local community would impact it?
Nat: Economic diversity. So, you know, when you have different kinds of businesses, you know, they're going to handle different economic environments differently.
So, you know, sometimes the you know, there's a benefit to having all kinds of different businesses in a, in a local community.
Pete: Yeah, no question about it. I mean, it just, it adds to makes the community more whole and again, protects it a little bit. So it's not just, we're all this [00:07:00] type of business. We want to be focused on having all different kinds to support the residents of that community for sure.
And what would be another one?
Nat: Tax revenue, you know, when I look at, yeah, I look at my receipt and see like that 10 percent tax. So, you know, that's gotta be going somewhere and, and helping public services and things like that.
Pete: Government's got to get their piece, right? But that also helps the economy so that they can pay for schools.
They can pay for road, new roads being built and all the other kind of stuff. So certainly that is a big one. What will be the last last one?
Nat: Well, you always hear about, you know communities trying to attract specific businesses because they're trying to also attract talent, or they're trying to attract the employees that come with that.
So I think that that's a huge contributor. Yeah. To local communities are people that are coming there because they want to live there and work there.
Pete: Yeah, yeah, it makes it maybe the community a better place to come right where you've got [00:08:00] multiple businesses opportunities to earn income You got good schools that are funded by the taxes and all that kind of stuff So absolutely it is it is about helping people develop and being in an environment where they can do that And local businesses certainly do that.
All right, matt. I'm i'm due to get back out in the sun I i'm having a hard time not having any sunlight here. So All right Yeah, yeah. Best of luck to you, my friend.