Franchises continue to grow faster than other businesses

03/27/2013

Franchise businesses will continue to grow at a slightly faster rate than other businesses in job creation, new business formation, economic output and GDP contribution, according to IFA's first-quarter update to "The Franchise Businesses Economic Outlook for 2013" report prepared by IHS Global Insight for the IFA Educational Foundation. Business services and commercial and residential services will rank as the top two sectors in both franchise employment growth and growth of the number of establishments in 2013. Real estate will rank first in output growth and grow slightly faster than the franchise sector averages in establishments and employment. Quickservice restaurants -- the largest franchise business line -- will rank second in the growth of output and will see growth rates of employment and new businesses that are slightly higher than the franchise sector average. The forecast is virtually unchanged from the IFA's initial 2013 forecast released in December.

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