Growth Straight Ahead
Company Added
Company Removed
Apply to Request List

Growth Straight Ahead

Growth Straight Ahead

The franchise industry should continue to experience smooth economic sailing ahead, according to a new report out by franchise research and advisory company FRANdata. The study found the number of franchise establishments is expected to increase by 1.5% to 785,316. Franchise employment is forecast to increase by 2.8% to 8.67 million, adding a total of 232 thousand jobs. Franchise output in nominal dollars is projected to improve by 4.1% to $819.57 billion in 2020.

“We forecast that most franchise businesses will sustain robust growth in 2020, especially in the personal services, quick service, and full-service restaurant segments,” says Darrell Johnson, CEO of FRANdata. “Franchising will continue to play a major role as a driver for growth in our economy.”

Franchise businesses influence state economies by creating jobs, increasing output, and contributing to GDP growth. The report says the following states will see the most franchise establishments and employment growth in 2020: Texas, Colorado, Arkansas, Florida, Idaho, Tennessee, Georgia, North Carolina, South Carolina, and Nevada. Overall, franchise business development will continue to increase in the South and West due to growing populations, state-level economic policies, and favorable business tax climates.

To study the impact of franchising to the economy, FRANdata examined macroeconomic trends and the historical performance of all franchise brands operating in the United States over a ten-year period and across all major industries. For state level franchising activity, FRANdata analysts calculated each state’s franchise establishments, employment, and output for a 3-year and estimated each state’s contributions to the franchise industry for 2019 and forecasted for 2020.

You can access the full report here: https://franchiseeconomy.com/assets/26604.pdf.

Published: February 20th, 2020

Share this Feature

Pearle Vision
SPONSORED CONTENT
Pearle Vision
SPONSORED CONTENT
Pearle Vision
SPONSORED CONTENT

Recommended Reading:

Comments:

comments powered by Disqus
Big Blue Swim School
SPONSORED CONTENT

FRANCHISE TOPICS

Quaker Steak & Lube®
SPONSORED CONTENT
Conferences
Caesar's Forum, Las Vegas
SEP 1-4TH, 2020

Food that's built to impress. For a restaurant that's built to perform. For a franchise that's built to grow.
Cash Required:
$250,000
Request Info
Are you interested in a health conscious franchise opportunity in a growing smoothie industry that does over $2 billion in annual sales in the United...
Cash Required:
$100,000
Request Info

Share This Page

Subscribe to Multi-Unit Franchisee Report

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2020.
All Rights Reserved.