By Matt Haller and Dave Scrivano
July 21, 2024
This column by Little Caesars CEO Dave Scrivano and International Franchise Association President and CEO Matt Haller originally appeared in the Detroit News. View the full article here.
As we all know and have experienced, Detroit is a thriving city on the move and a great place to live, work and play. For the first time in nearly 70 years, the city’s population is rising. Its economy is growing, and opportunities are increasing.
And amid all the progress and promise, there remains even more unrealized potential. To further capitalize on this exciting growth and vibrancy, policymakers would be wise to focus on policy specifics helpful to the franchise business model, which is a key driver for growth and opportunity for all, and particularly Black entrepreneurs.
***
Little Caesars planted roots in Detroit, and our branches are flourishing all over the world. In 1962, our first franchise opened in Warren — a decision that paved the way for Little Caesars to become the fastest-growing pizza chain in the U.S. and an internationally known brand.
We’re one of the more than 23,000 local franchises providing more than a quarter-million jobs across Michigan. Even in a challenging climate marked by lingering inflation and high input costs, franchising is expected to grow by 4.1% in 2024, outpacing the broader economy, which is expected to grow closer to 2%.
As a majority-Black city, Detroit is especially ripe for the franchise model. The city’s low costs have already made it a major attraction for those seeking to start a new business. According to data from Oxford Economics, Black-owned franchise businesses earn 2.2 times more in sales compared to non-franchise businesses. Franchising can help close the gap between the overall Black population (14%) and business owners (only 2.3%) according to Brookings.
***
Read the full piece here.
David Scrivano is CEO of Little Caesars. Matt Haller is president and CEO of the International Franchise Association.
