Franchise businesses are literally taking over the world. Almost every city within the United States has at least one franchise business within its boundaries. To help you learn more about the best franchise opportunities, here are 15 things about franchising you’ll kick yourself for not knowing.
1. Franchise businesses account for more than $800 billion in annual sales in the United States.
2. The total franchise sales within the United States are over 1 trillion.
3. One in 12 businesses is a franchise.
4. Franchise establishments create more than 247,000 new jobs per year.
5. A new franchise business opens every eight minutes of each business day.
6. In a study conducted by the University of Louisville, the report showed that “franchising not only participated in, but helped to lead America out of its economic downturn”.
7. Fifty percent of all franchise businesses are multiple unit owners.
8. Albert Singer (Singer sewing machines) is credited as being the father of the modern-day franchise model. He was the first to develop a franchise contract in the mid-1800s, so he could distribute his sewing machines across the country.
9. Fifty-five percent of all Americans would prefer to be their own boss.
10. In 2015, there are currently more than 780,000 franchise establishments.
11. The average cost of an initial franchise investment (excluding real estate) is $250,000.
12. The average length of a franchise contract is 10 years.
13. The top franchise business industry is fast food.
14. Franchising is one of the least risky types of businesses. More than 95% of all franchise businesses are still open after five years.
15. Franchise businesses account for more than 8 million direct franchise jobs.
Franchise businesses are great for the economy. But, if you’re interested in opening a franchise business, how do you know what is the best franchise to open? Well, look at the facts. Fast food franchises are among the best franchise opportunities.
People love to eat. And people love to eat at their own convenience. That’s what makes fast food restaurants a great franchise opportunity. So take advantage and open a fast food restaurant in your city.
Learn how you can open your own cookies franchise today. But, hurry! You don’t want to be kicking yourself for missing out!