The International Franchise Association (IFA) recently released its 2013 Franchise Business Economic Outlook. This annual reporting of trends and projected growth within the franchise industry reveals that franchise businesses continue to lead all businesses as generators of new jobs. Since 2007, franchise businesses have led all businesses in job creation.
Significant findings from the 2013 Outlook include:
- The output of franchise establishments is expected to increase for the fourth consecutive year. Franchise establishments are expected to increase output in nominal dollars to $802 billion. This represents a 4.3% increase over 2011-2012.
- The number of franchise establishments is forecast to reach 757,055 locations in the new year. This is a 1.4% increase over the previous year.
- Franchise businesses are expected to increase their employee count by 2%, resulting in 8.2 million Americans being employed by franchise locations.
Quick service restaurants continue to lead the franchise sector employing 37% of franchise workers. Table/Full Service restaurants employ 13% of workers, while business service franchises employ 11% of workers. Lodging (9%), personal services (8%), retail products/services and retail food (6%), commercial and residential services and real estate (4%), and automotive (2%) round out the employment distribution by sector.
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