31 03, 2023

Personal Branding

2023-03-31T10:15:36-04:00March 31st, 2023|Tags: , , , |

Franchising is a highly competitive and dynamic business environment. With so many brands and concepts vying for entrepreneurs’ attention and so many local business owners competing for consumers’ attention, it’s essential for all of us to establish our own personal brands to stand out and succeed. By  Jack Monson


28 03, 2023

2023 Economic Outlook Shows Franchise Job and Unit Growth Trends Ahead of Pre-Pandemic Levels

2023-03-28T11:01:06-04:00March 28th, 2023|Tags: , , |

New IFA report shows franchises to add 254,000 jobs, 15,000 new independent businesses this year, despite economic headwinds.

WASHINGTON, March 28, 2023 /PRNewswire/ — The International Franchise Association (IFA) today released its 2023 Franchising Economic Outlook report, showing that franchise unit and job growth continues to outpace pre-pandemic levels, delivering jobs and business ownership opportunities across the United States, despite economic uncertainty across all industries and in daily life. The report highlights the impacts of today’s unique economic challenges, which have affected system growth and led to an increase in wages, among other factors.

“Even with today’s economic headwinds, franchised businesses continue to grow, providing more good-paying jobs for their employees, and serving their local communities,” said IFA President and CEO Matt Haller. “After an historic year of growth during the post-pandemic recovery, the size of the franchise economy in 2023 will exceed pre-pandemic levels – demonstrating the power of the business model for prospective business owners when franchisors and franchisees work together.”

The full report is available here.

Key highlights from the report include:

  • The overall number of franchise establishments will increase by almost 15,000 units in 2023, or 1.9%, to 805,000 units in the U.S.
  • Franchising will add approximately 254,000 jobs in 2023. Growing at 3.0%, total franchise employment is forecasted to reach 8.7 million.
  • The total output of franchised businesses — the measure of total economic activity in nominal dollars — will increase by 4.2% to $860.1 billion in 2023, up from $825.4 billion in 2022.
  • Franchises’ GDP share of the overall economy will remain stable at 3%. Compared with 2022, franchises’ GDP — the monetary value of all the finished goods and services produced within U.S. borders — will grow at a slightly slower pace of 4.2% to $521.3 billion.
  • Service-based industries and quick-service restaurants will witness higher growth than other industries.

On the state and regional level, the report shows that states have experienced different rates of franchise business growth due to disparities in business climates, migration trends, the labor market, and major industry investments. On the state level, it is predicted that:

  • States in the Southeast and Southwest will experience the fastest franchise business growth in 2023.
  • The top 10 states for franchise growth in 2023 are projected to be: Texas, Illinois, Florida, Georgia, Tennessee, North Carolina, South Carolina, Arizona, Colorado, and Indiana.
  • The Southeast region, which has the largest franchise concentration in the U.S., will have an estimated 234,079 total establishments by 2023, employing 2.5 million workers and contributing $250 billion in output to the U.S. economy.

For a state-by-state analysis or to download your state’s data, go here.

“In spite of all the challenges, the cooperative nature of franchise businesses helped better insulate franchise owners from macro-economic uncertainty,” said Darrell Johnson, CEO of FRANdata. “Our team produced insight-driven forecasts leveraging our understanding of the franchise market and industry forces.”

Conducted by FRANdata, the 2023 Franchising Economic Outlook is IFA’s annual study detailing the franchise sector’s performance for the past year and projected economic outlook for the year ahead, as well as an in-depth state outlook for all 50 states and Washington, D.C.

According to Oxford Economics, franchises pay nearly 3 percent higher wages than similar independent companies and offer greater benefits and more generous leave. Franchising creates unparalleled entrepreneurial opportunities for underrepresented communities, and nearly one-third of franchise business owners say they wouldn’t own a business without franchising.

About the International Franchise Association:

Celebrating over 60 years of excellence, education, and advocacy, the International Franchise Association (IFA) is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations, and educational programs to protect, enhance and promote franchising and the approximately 790,492 franchise establishments that support nearly 8.4 million direct jobs, $825.4 billion of economic output for the U.S. economy, and almost 3 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology, and business development.

27 02, 2023

L.A. Bikini: From Loyal Customer to Proud Owner

2023-02-27T10:04:39-05:00February 27th, 2023|Tags: , , , |

Nikki Richardson was working in fundraising for a large nonprofit when she was introduced to L.A. Bikini and the sugaring hair removal process. She heard from other coworkers that they were going to get sugared on their lunch break at the Mountain Brook, Alabama, location near their office, so she booked an appointment as well. From the first appointment, Richardson was hooked and bought a membership that day. By Kelsi Trinidad


1 02, 2023

The Unique Language of Franchising

2023-02-01T00:05:56-05:00February 1st, 2023|Tags: , , , , |

People involved in franchising have developed a specific language. The language describes processes, roles, agreements, and concepts. We want to share franchise terminology to help you become familiar with the common language used by all franchising companies. By Rose Mango


30 09, 2022

Legal: Just Say No

2022-09-30T11:44:33-04:00September 30th, 2022|Tags: , , , , |

I might be dating myself by recalling the anti-drug ads from the ‘80s and trying to relate them to franchising. The relevancy in my mind comes from the fact that restraint and saying no to something that feels good in the near term but will cause long-term pain is much easier said than done. By Tom Spadea


31 07, 2022

International Franchise Association: Pride Council Aids Inclusion and Understanding

2022-07-31T13:48:58-04:00July 31st, 2022|Tags: , , , |

Each June, we celebrate Pride Month to show support for LGBTQ+ individuals and allies. This year the Pride Council, created in 2019 by the International Franchise Association Foundation, hosted a webinar discussing how different franchises approach their Pride Month. By Rikki Amos


31 05, 2022

International Franchise Association: Celebrating Pride Month & Juneteenth

2022-05-31T23:51:18-04:00May 31st, 2022|Tags: , , , , |

June is a big month of celebrations here at the International Franchise Association Foundation. Our Pride Council and Black Franchise Leadership Council (BFLC) are celebrating Pride Month and Juneteenth respectively, and we are taking this time to reflect on our progress and what’s to come. By  Rikki Amos


30 03, 2022

FranServe Leaders Attend the 2022 IFA Annual Convention

2022-03-30T15:32:26-04:00March 30th, 2022|Tags: , , , , |

With the goal to work closely with entrepreneurs in local communities and the excitement of showcasing that “the franchise industry is open for opportunity,” President Matthew Haller of the International Franchise Association (IFA) kicked off the 62nd annual IFA Convention. By Cindy Charette