Franchising Growth Continues
For the past 5 years, the average annual job growth in the franchise sector was 2.6%, nearly 20% higher than all businesses economy-wide. This growth will add 278,000 direct jobs to the economy this year for a total of over 9 million jobs.
- The number of establishments will grow this year by 13,359, or 1.7%, to 795,932.
- The IHS Economics forecast of output growth in nominal dollars for franchise businesses will increase this year by $52 billion, 5.8%, to $994 billion.
- The gross domestic product (GDP) of the franchise sector is projected to rise 5.6% this year to $552 billion, adding $29 billion in GDP to the U.S. economy.
- The franchise sector will contribute approximately 3 percent of U.S. GDP in nominal dollars.
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