Franchise businesses are driving job growth faster than ever before as more people seek to get involved with a reliable business plan. According to the International Franchise Association, 2015 marks the fifth year in a row where the franchise industry is expected to see a large expansion.
IFA President and CEO Steve Caldeira said, “Franchising is a vital engine of economic expansion in the United States and 2015 looks to be another strong year for franchise businesses. With continued job gains, consumer spending will accelerate creating the conditions for another strong year of growth for franchise businesses.”
The IFA’s annual outlook for the franchise industry offered some important bits of data, including:
- Franchise businesses are expected to add about 2.9% more jobs than they did in 2014, bringing the yearly growth to 247,000 jobs. Nationwide, franchise-based employment is approaching 9 million jobs all by itself.
- Over 12,000 new franchise businesses are expected to open in 2015.
- The combined revenue of all franchise businesses is expected to reach $889 billion for the year, 5.4% more than 2014.
- Franchises are expected to grow at a rate of 5.1% – beating the national growth level of 4.9%.
At Qiigo, we look forward to helping franchisees and franchisors grow their business in 2015. For more information about our products and services, please call (404) 496-6841.