Franchising Industry

I have seen many changes in the 28 years that I've worked in franchising.

The franchising industry has seen record growth in recent years. A recent economic analysis shows that the franchising sector of the economy expanded by over 18 percent from 2001 to 2005, adding more than 140,000 new businesses and 1.2 million new jobs to the nation’s economy. Direct economic output of franchises grew by more than 40 percent to $880 billion during the five-year span.

There are more than 900,000 franchised business in the U.S. operating in many industries, including automotive repair, restaurants, business services, retail, lodging, real estate and senior care.

The important element in finding success in franchising is the right match. We have witnessed buyers who put down $50,000 total investment and have built it to a business making over $250,000 profit. We've also seen a few others having to close their doors after 12 months. When you are looking at franchises, make sure it's an industry that is growing, that is not a fad, and one that will utilize your skills and abilities.