According to the International Franchise Association, the franchise sector will enjoy continued growth, outperforming the economy and other businesses.
The findings were released in the IFA’s second quarter update to The Economic Outlook for Franchise Businesses Report.
“Franchise growth continues to outpace other sectors of the economy as franchising remains the fastest way to grow and scale a business, despite the still uneven economic recovery and the onerous public policy environment facing our members and the small business community,” said Steve Caldeira, CEO and President of the IFA.
Franchise establishments are projected to increase by 1.3 per cent this year, and jobs in franchise businesses are expected to grow by 2 per cent.
The report analysed information by grouping franchise businesses into 10 general sectors. The top performers in terms of franchise employment and establishment growth are the business services and commercial and residential services sectors.