New Data Shows Franchising Continues to Exceed Growth Expectations

The International Franchise Association (IFA) today released its annual Franchising Economic Outlook showing that franchise growth exceeded projections for 2023, even in the face of ongoing economic uncertainty. On top of the 2.2 percent growth experienced in 2023, the report forecasts that franchises will grow an additional 1.9 percent in 2024, adding 15,000 units and 221,000 jobs in the United States. IFA also released the findings from its 2024 Franchisor Survey detailing the challenges posed by the labor market, rising prices, and policy trends.