Alesia Visconti, our esteemed CEO, has recently been elected to the Supplier Advisory Board of the International Franchise Association (IFA). By Rose Mango
The International Franchise Association’s (IFA) VetFran program offers over 500 companies that have a shared commitment to help veterans by providing a financial discount to get veterans up and running as business owners. Lowering the barriers to entry is VetFran’s way to give back to those who have served and say thank you for serving our country. By Rose Mango
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:
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:
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.
When I first heard the news that Robert Cresanti, CEO and president of the International Franchise Association (IFA), would be stepping down when his contract completes at the end of March, I felt sad. By Alesia Visconti
Franchise Dictionary Magazine (FDM) closes each year with their 100 Game Changers issue and a few words from Robert Cresanti, president and CEO of the International Franchise Association (IFA). There is no better source on all things franchise than Cresanti and the IFA. By Rose Mango
The International Franchise Association (IFA) is gearing up for its 2021 Annual Convention called IGNITE, which will take place virtually February 11–25. By Rose Mango
The entire world is feeling the repercussions of the recent pandemic. Still, we are happy to say that franchises across the country are ready to REOPEN under the new guidelines needed to continue to protect the consumer, the employees, and communities. By Rose Mango
Since the IFA is unable to host their in-person Legal Symposium this summer, please join them for this year’s Franchise Law Virtual Summit August 12-13. IFA’s Franchise Law Virtual Summit is designed by a task force of member volunteers with a particular emphasis on how legal and regulatory issues affect the everyday business operations of the franchise system.
In September 2019, the International Franchise Association (IFA) launched the Pride Council, a network for LGBTQ small-business owners and employees from across the country. It provides opportunities for mentorships, fosters discussions concerning best practices, and creates a forum for sharing experiences and to benefit others. By Rose Mango