Economic Good News Spurred by Growth in the Franchise Industry
February 6, 2017
For years, franchise industry professionals have touted the important role franchise businesses play in the overall U.S. economy. A recent article from the International Franchise Association (IFA), published in Nation’s Restaurant News, proves their case with very strong numbers. The article predicts that the franchise sector will grow to $710B in 2017, led by growth in the franchised restaurant segment. Restaurants represent the largest number of franchise businesses in the U.S.
“Franchising is an American success story,” IFA president and CEO Robert Cresanti said on a conference call with reporters. “Establishments are growing faster and creating more jobs at a faster pace than the overall economy. They’re getting more sales and growth than other businesses.”
For people looking for a franchise business opportunity experiencing strong growth, look no further than Tropical Smoothie Cafe, which in recent years has seen its number of franchised locations grow to more than 540, with 1+ Cafes being opened per week. Tropical Smoothie can also boast a 26% increase in comp sales over the last three years. Clearly, Tropical Smoothie Cafe is positioned for even more growth in the months and years ahead.
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