The International Franchise Association released it’s annual outlook report for franchise economic growth in January of 2018, and all signs point to upward trends for the franchising industry as a whole. Key details from the report are as follows:
- Franchise employment is forecast to grow 3.7% in 2018 after growing 3.1% in 2017, and franchise
employment will continue to outpace economy-wide employment growth. Total private nonfarm
employment is forecast to increase 1.8% this year after growing 1.7% in 2017.
- The output of franchise businesses in nominal dollars is projected to increase 6.2% in 2018 to
$757 billion and grew 5.6% in 2017.
- The gross domestic product (GDP) of the franchise sector will increase by 6.1% to $451 billion in
2018. This will exceed the growth of US GDP in nominal dollars, which is projected at 4.7%. The
franchise sector will contribute approximately 3% of US GDP in nominal dollars
Click here to read the full report published by the International Franchise Association.