[STATS] Franchising’s Deep Impact
In order to decide on a franchise investment opportunity, one needs to check the franchising operational statistics at first. The statistics give entrepreneurs a general idea of the business prospects associated with a particular franchise opportunity.
Some of the Popular Franchise Facts and Figures related to the United States are as below:
- In the USA, there are more than 3,000 different franchise business companies are existing in various parts of the country
- There are around 300 different business categories in which franchise business is being offered
- More than 825,000 franchise business ideas can be found for entrepreneurs to invest in and start a business
- The franchise business has acontributes $2.1 trillion to the US economy
- The sector supports around 18 million workers in the country
- One out of every 12 companies has a franchise business model for the entrepreneurs to invest in.
- The normal franchise period offered by most of the franchisors is 10 years
- Fast Food Franchise business is the most popular franchise business in the US
These stats will give you at least a general overview of the US franchise industry. These facts will also help you to evaluate the investment perspective and analyze the operational expenditures required to run a franchise business. You will also come to know how the franchise business contributes significantly to the overall economy of the country providing more jobs to the people.
*Statistics gathered from Manta.com, IFA’s internal sources, and US Department of Labor