Why Resale Franchises are Great for Local Economies
Many consumers don’t consider the larger impact of their buying habits on their communities. But, when you shop locally, the benefits extend far beyond finding high-quality goods close to home – it also contributes to your community’s overall health.
By shopping locally, you’re not only supporting businesses and employees within your community, you’re also ensuring more local revenue circulation and wealth generation. Here are some reasons why local resale franchises have been great for the local economy:
Local Businesses and Job Creation
Local businesses account for 60 to 80 percent of U.S. jobs, so finding areas to increase local employment opportunities presents a wonderful option for entrepreneurs across the country.
Winmark has helped create, through our five resale concepts – Play It Again Sports®, Music Go Round®, Plato’s Closet®, Style Encore® and Once Upon A Child® – more than 400 new local businesses. These local businesses have in turn created more than 5,000 new jobs over the last five years, offering opportunities for members of small and large communities alike.
Local Businesses and Revenue
One of the biggest benefits of shopping locally is that when you spend money in your community, most of it stays in your community. Sixty-eight dollars out of every $100 stays in the community when you shop local, and local sales tax accounts for 10 percent of revenue. This money goes toward employee wages, donations and community outreach and taxes that support schools, parks and public works projects.
When you shop locally, the money goes further, too. Three and a half times as much wealth is generated when you support local businesses, than if you bought from a big-box retailer.
Shopping locally is a great way to support your community and the businesses that help it thrive. By supporting local resale franchises, not only are you saving money on all your purchases, but you’re also putting that money back into your community.
If you’re interested in learning more about how local resale businesses are great for local economies, download our infographic here.