More Data Supports Positive Economic Impact Of Franchising

More Data Supports Positive Economic Impact Of Franchising

Two new reports highlight job growth and economic output generated by the franchise industry. The first report, "National Franchise Report: Two Year Review," was presented during a press event at the International Franchise Expo in New York last month. At the same event, officials revealed findings of the mid-year Franchise Business Economic Forecast. Both reports offer glowing analysis of the franchise business marketplace.

ADP's first National Franchise Report: Two Year Review emphasizes that the franchise industry remains strong, despite headwinds. The report analyzed two years of data about job creation and economic output generated by the franchising industry. In its analysis, ADP found that since the financial crisis of 2008, small companies such as franchisees (with 1-49 employees) increased employment at a faster rate than mid- or large-size companies. In addition, the growth in U.S. franchise employment consistently outpaced the increase in employment nationally and among other types of small businesses.

Ahu Yildirmaz, vice president and head of ADP's Research Institute, said, "Franchises have had a consistent rate of job creation over the past two years. Over the same time period, franchise market growth has outpaced total employment in the U.S."

At the same press event, IFA Educational Foundation President John Reynolds gave highlights of the mid-year Franchise Business Economic Forecast, prepared by IHS Economics for the IFA Educational Foundation. Reynolds stated that franchise businesses are a major driver in the U.S. economic recovery, with above par contributions to GDP and job creation compared to other businesses. He added that there are hundreds of new brands that have started franchising in recent years that are creating opportunities for business ownership and jobs for many Americans. "Many people who begin their first job at a franchise business go on to work in management or owning their own franchises," he said.

For more on the National Franchise Report, click here and click here for information about the Franchise Business Economic Forecast.

Published: June 30th, 2015

Share this Feature


comments powered by Disqus
Golden Corral

Multi-Unit Franchising Topics »

Top Opportunities »

Subscribe »

Multi-Unit Franchisee Magazine

The only publication dedicated exclusively to the hottest topic in franchising - Multi-Unit and Multi-Brand Franchisees.

Attend »

Multi-Unit Franchising Conference

Multi-Unit Franchising Conference

APR. 23-26, 2017 | Caesars Palace, Las Vegas, NV

A unique event because it is highly influenced by its advisory board, consisting of the very best multi-unit franchisees. The board works diligently to ensure that the conference delivers on its promise of being the best platform for franchisees to learn how to grow their businesses.

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
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)