Franchise Growth Predicted to Outpace U.S. Economy in 2018
February 05, 2018
Recent news from the International Franchise Association (IFA) has franchisors
and franchisees excited about 2018. CEO of Fastsigns and IFA board member, Catherine Monson, gave highlights of IFA's 2018 Franchise Business
Outlook report at the Washington Post State of the Union Preview last week.
Key findings from the report include:
- Franchise establishments are expected to grow an additional 1.9% in 2018 to 759,000.
- Franchise employment is projected to grow 3.7%, continuing to outpace the rest of the economy.
- The gross domestic product (GDP) of the franchise sector is forecast to exceed U.S. GPD growth and increase by 6.1% to $451 billion.
- Franchise business output is expected to increase by 6.2% to $757 billion.
- Franchise Personal Services experienced strong growth over the past year and is expected to rank first in growth of the number of establishments and in employment in 2018.
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