Dallas Mayor Eric Johnson announced a new plan Thursday to support entrepreneurs and small business owners in the city’s southern sector. The plan, named the Mayor’s Franchise Initiative, aims to help small businesses and entrepreneurs scale upward by investing in franchises.
The new plan is one among many put forth by Johnson, who promised to help raise incomes in southern Dallas. Johnson commented that the city needs to invest more in the people of southern Dallas than in the land to help close disparity gaps.
The initiative is intended to help more people in southern Dallas become business owners. Instead of starting a grassroots store or service from square one, Johnson’s plan is expected to help facilitate the purchasing and management of existing individual franchise locations. For example, a resident may be guided on how to open up a barber shop or restaurant of a larger, possibly national, chain.
According to a study by the City of Dallas, those that are older than 35 years old with a high school education or less are at the highest disadvantage for economic growth.
Around 480,000 Dallas residents are of working age. Of these, Hispanics, Blacks, and Asians hold the lowest-paying jobs. Johnson’s plan aims to fill in education gaps for these groups and provide networking opportunities to get businesses off the ground.
As of now, the details of the plan are still relatively vague. Johnson has appointed Carlos White, a local attorney specializing in franchise and distribution law, to help flesh out the details of the initiative. White will be working in a voluntary capacity.
White expects the project to get off the ground in early 2023 and has begun building a cabinet to lead the efforts.
