According to a report put out by the International Franchise Association, franchising is huge.
As of 2005;
- There were 909,253 franchised business establishments in the United States.
- Franchised businesses provided more than 11 million jobs, or 8.1 percent of the national private-sector workforce.
- Franchised businesses supplied an annual payroll of $278.6 billion, or 5.3 percent of all private-sector payrolls in the United States.
- Franchised businesses produce goods and services worth $880.9 billion per year, or 4.4 percent of private-sector output in the United States.
Pretty darn powerful…those stats.
But, just because the world of franchising, (which I’m trying to change) is so powerful, and just because there are so many franchise businesses…
Doesn’t mean that you should Become a Franchise Owner!, without at least getting a little introduction.
Here’s an Introduction to Franchising.