“Franchise means local.” These words resonated after hearing Matt Haller, President and CEO of the International Franchise Association (IFA), discuss the power of franchising at a conference for emerging business owners. At its core, franchising strengthens local communities by creating equitable pathways to entrepreneurship.
This holiday season, VOX is excited to launch our Funding Forward initiative, which advances a mission shared with the IFA, the world’s oldest and largest organization representing franchises worldwide. Together, we’ll enable entrepreneurs to grow their businesses, create jobs, and strengthen communities by combining accessible capital, practical education, and the support of a proven franchising network.
Adam Benowitz, CEO of VOX Funding and mentor to Harvard Business School students on entrepreneurship, shares:
“At VOX, we believe that strong communities are built by strong local businesses. Franchising creates opportunities for entrepreneurs to grow, create jobs, and make a meaningful impact in their neighborhoods. Through our Fund Forward approach, we’re proud to support the IFA Foundation in empowering these leaders to succeed.”
Why Franchising Matters for Small Businesses
Franchising gives aspiring business owners structure, brand support, and a network to lean on from day one. Instead of starting from scratch, new owners gain access to training, operational guidance, and a community of peers who want them to succeed.
Nearly one in three franchise owners would not be in business without the franchising model – meaning 60,000 fewer small businesses and 1.8M fewer jobs – showing its role in creating opportunities. Franchise businesses also have a meaningful impact on communities:
- Job creation: Create more than twice as many jobs as non-franchise businesses
- Charitable giving: Contribute over $1.5 billion annually to causes
- Community engagement: Franchise owners log 18 million of volunteer hours yearly
Why Flexible Capital Matters
Even with solid business models, access to capital may be a barrier for entrepreneurs. Traditional financing, like bank loans or private equity, can be slow, rigid, or inaccessible, particularly during economic uncertainty.
Flexible, non-dilutive financing allows business owners to stabilize cash flow, invest in inventory, hire staff, and grow their operations with working capital. By helping owners access resources efficiently, capital becomes a tool to strengthen local economies and support sustainable business growth.
Funding Forward, Together
To launch this collaboration, VOX is making a holiday contribution to the IFA Foundation. These funds will support key initiatives, including research, diversity programs, and the ‘Franchise Means Local’ program – the initial inspiration for this partnership. IFA Vice President Katherine Knight Peterson elaborates:
‘Franchise Means Local’ puts real faces behind the brand names – bringing to life that there is a person and story behind every small business. Whether it’s the family business run by the third generation of entrepreneurs or the veteran who has continued in his life of service, this campaign ensures that consumers understand that a franchise business is a local business. Partners like VOX make this important effort possible and help bring even more stories to life.
Support will continue with ongoing charitable programs, including donations to the Foundation for businesses in its network funded by VOX, and alignment on key observances throughout the year supporting underrepresented groups.
Looking Ahead
We’re proud to support the IFA Foundation. By funding forward this season, we provide tools, resources, and opportunities for small business owners to grow, create jobs, and strengthen communities — today and for years to come. If you’re interested in learning more about how VOX can help, please reach out to us.
Post written by Emily Hunt
