Good news, franchisees and potential franchisees! The 2013 Franchise Business Economic Outlook has been released and the news is mostly good. Although most industries have been struggling lately, slow and controlled growth are expected in franchising. Perhaps that’s a reflection of the a general desire to cling to established businesses rather than taking on extra risk in a time when so much is uncertain?
Some other highlights:
- The number of total franchise locations is expected to increase in 2013, by about 1.3%.
- The GDP of the franchise section is predicted to increase by 4.1%.
- The franchise sector is expected to create 162,000 new jobs this year.
Overall, good things are in store this year, and the franchise industry is definitely doing its part to help the economic recovery and create new local jobs in cities and towns all over the country. Want to know more? You can read the full 26-page report here.