In a world that grows smaller and more interconnected each day, there has never been a more optimal time to consider expanding your business abroad.
For concepts whose franchise models have taken off locally and seen success in other markets of the country, it’s time to consider going global.
Thanks to your Chicago roots, international franchise expansion may be the most plausible, perfect window of opportunity for you to grow and enhance your brand.
Exposure to international consumers
Known for its central location within the United States, Chicago is a hotspot for international tourism and business travel. In fact, data from the city’s tourism bureau suggests that more than 1.3 million foreign travelers visited Chicago in 2015, and Chicago O’Hare International Airport is consistently ranked as one of the top ten busiest airports in the world.
Whether traveling to Chicago on business or pleasure, Chicago’s constant flow of international visitors allows for brand exposure to consumers in global markets. The United States is the world’s second leading exporter of goods, which is why many large countries, such as China and India, are receptive to American products, services, businesses and brands.
In-demand franchise concepts include children's education, burgers, senior care, coffee, pizza, fitness and security services.
By moving a brand across the border, further growth opportunities are likely to develop, especially in other English-speaking countries such Ireland, England and Canada.
Favorable currency exchange, tax treatment and legal jurisdiction
If you’re a Chicago small-business owner, you’re already aware of how “taxing” our state’s budget (or lack thereof), tax rates and regulations are on small businesses. However, for businesses looking to expand, this may prove to more of a positive than a hindrance.