Updated August, 2024
“If everyone is moving forward together, then success takes care of itself.” Henry Ford
This is the dynamic of local Chambers of Commerce all across the nation. In fact, for many franchise owners, their local chamber can be an invaluable resource for their business and an important stepping stone to success.
What is a Local Chamber of Commerce?
In short, a Chamber of Commerce is “a group of businesses that supports the interests of its members” (U.S. Chamber of Commerce).
More specifically, it is a membership-based organization made up of businesses, professionals, and entrepreneurs in a particular area that provides access to a wide range of benefits that contribute to a business’s growth. The annual membership dues help fund the chamber’s activities and initiatives – the primary purpose for these events is to advocate for the interest of its members, support local economic development, and foster a strong business community.
Typically, a local Chamber of Commerce will include businesses of all sizes, from small local businesses to large corporations, as well as individual professionals and other organizations such as non-profits.
6 Basic Tenets of a Local Chamber of Commerce
#1 – Advocacy and Representation
While a Chamber of Commerce does not create laws, it does represent a collective voice for the local business community. The local chamber is in a position to lobby local government officials and policymakers to support business-friendly legislation. Relevant issues that affect businesses include taxation, zoning laws, economic policies, and more.
#2 – Business Networking
The local Chamber of Commerce will organize events, meetings, and other gatherings where members can meet each other, exchange ideas, and build relationships. You never know where one good connection might lead.
It is also typical for the local Chamber of Commerce to conduct additional business outreach through local nonprofits and charity causes, many of which are tied to other civic-minded organizations, which provides even more networking opportunities.
Not only do chambers offer networking advantages, but they are also designed to support one another through referrals. Businesses who belong to their local Chamber of Commerce typically seek out other members to do business with first.
#3 – Economic Development
A key objective of a Chamber of Commerce is to promote economic development of the local area. It does this by attracting new businesses, supporting existing ones, and creating a favorable business environment. Specific ways it works towards this include collaborating with the local government, educational institutions, and other organizations to improve infrastructure, workforce development, and community resources.
#4 – Educational Resources
Educational programs aimed at helping individuals develop relevant skills is another way a Chamber of Commerce supports local businesses. Areas of focus might include: marketing, financial management, leadership, and more. The chamber will also offer resources such as market research, business planning assistance, and information on local regulations.
#5 – Marketing and Promotion
When chamber-sponsored events are planned in advance, your franchise might have exclusive opportunities to promote and advertise your business. Franchise owners should make an effort to get involved with events that match nicely with their business operations.
The chamber can also promote its members through directories, websites, newsletters, social media, and more.
#6 – Community Engagement
Joining a local chamber is a tremendous way to build goodwill right in your own community for the goods or services you’re selling to the public. Not only does the chamber encourage businesses to engage in community service and philanthropy, it will also organize events like festivals, parades, and charitable activities. As a franchise owner, you should take advantage of these opportunities to strengthen ties between your business and residents.
Ready to Join the Franchise Community?
Almost every community has a Chamber of Commerce, so you can look forward to the support you’ll receive when you become a franchise owner! Ready to get started? Let FranNet help. Our expert franchise consultants know the market inside and out and can assist you on your path to become a franchise owner. We’ll help you find the right franchise to join and walk you through the process from start to finish. Schedule your free consultation today!