Small business ownership is on the rise. And because of the efficacy of the franchise model, our industry is huge. With businesses across a range of 80+ industry categories, franchising boasts some pretty incredible numbers.
workers within the industry
Franchise Business Economic Outlook 2018, IFA
Business owners like franchising
More franchises are sold and opened each year than any other kind of business. And it’s no wonder – the franchise model offers three key benefits to franchisees:
- Franchisors offer a chance to own a business with a proven business model, meaning there’s less risk involved in the investment than with an independent startup
- Franchising allows entrepreneurs an opportunity to run a business without prior skills or experience specific to that industry – they’ll be trained by experts to help ensure their endeavor is a success.
- Because franchise candidates are looking to invest in a proven business model, they’re more likely to receive the funding they’ll need to make the investment. Lenders trust franchises more than startups.
The industry is booming
As more baby boomers reach retirement age, many look to franchising as a way to grow the funds they’ve saved for their life after their career. For younger businesspeople, franchising offers a low-risk way to escape the corporate sector’s cutthroat environment. And, because of its success as a model, an increasing number of small business are converting to franchises to accelerate their growth.
The focus on franchising has led to phenomenal growth – but the franchise consulting industry is underserved nationwide. The International Franchise Association (IFA) has reported as few as 25 franchise consultants per state in the U.S. – while the number of franchise establishments in the U.S. grew by nearly 15,000 in 2018* alone.
The franchise industry needs consultants. We train and and support the best of the best to help meet the demand of the continual growth of the franchise industry.