The power of the Magic Johnson Brand transcends all demographics and socio-economic levels, all corporate industries, and all domestic and international audiences. Partnering with the Magic Johnson Brand affords innumerable resources and opportunities including:
- A diverse and multi-faceted business network
- Cross marketing and promotion opportunities with Magic Johnson businesses
- Brand placement in a vast number of urban and suburban cities nationwide and the loyalty that we’ve built in these communities through our philanthropic and business ventures
- Affiliation with an entity that owns a niche relationship with the consumer bases with the largest buying powers
- High brand visibility in mainstream media
Our brand has found tremendous success and because of that, we are often approached about mentoring and guiding other minority owned businesses. Below are some resources (not affiliated with Magic Johnson Enterprises) that may be helpful to small businesses:
Small business administration http://www.sba.gov/
National Minority Business Council http://www.nmbc.org/index.cfm
Updated Demographic Statistics
- Total annual buying power in the United States, combining all racial categories, will exceed $10 trillion for the first time in 2007.
- The buying power of Hispanics—now the nation’s largest minority group—will exceed $860 billion in 2007 and is whizzing its way to more than $1.2 trillion five years from now
- African American buying power will total $845 billion in 2007 and is projected to top $1.1 trillion by 2012—a 34 percent increase over the five-year period.
- In 2007, the Hispanic consumer market in the US and separately, the African-American consumer market in the US are each respectively about the same size as Mexico’s entire economy—in terms of its GDP (gross domestic product).
- Buying power, also referred to as disposable income, is the total personal income available for spending on goods and services after taxes.
- The steep curve of Hispanic buying power is largely the result of immigration and population growth – by 2012, U.S. Census estimates that about one person out of six living in the United States will be of Hispanic origin.
- The gains in black buying power reflect more than just population growth and consumer inflation – they point to the increasing number of blacks who are starting their own businesses (increased 45 percent from 1997 to 2002)
Source: Selig Center for Economic Growth at the University of Georgia’s Terry College of Business.