Drew Brees has left one arena (football) to enter another.
- The retired signal caller, who won a Super Bowl with the New Orleans Saints, works with the International Franchise Association. He himself is a franchise owner with a stake in several eateries such as Jimmy John’s and Walk-Ons Sports Bistreaux.
Why it’s important: Even when they’re part of global brands, franchisees are actually small businesses, as Brees explained to Axios in an exclusive interview.
- The sector has still not fully recovered from the pandemic as it faces headwinds from inflation, labor shortages and a potential economic slowdown.
What he says: “A big advantage of being part of a franchise system is that you have a support structure for everything you need, which is different than a mom-and-pop operation where you’re on your own,” Brees told Axios. “You don’t have a support network that’s there to set you up for success.”
Zoom out: The IFA estimates that nearly 800,000 American franchise businesses support over 8 million jobs, contributing nearly 3% to the gross domestic product.
- Although franchise owners get the benefit of support from the primary brand, owners still have to book large amounts of start-up capital, which varies based on how many locations an individual owns, and overhead costs. But the growth potential is considerable, says Brees.
- Owning multiple franchisees offers the opportunity to make a “damn good living,” he tells Axios. “It employs many people, it is job creation [and] economic development.”