Franchising's Economic Promise.

Author:Cresanti, Robert

The economic picture around the franchise business model continues to point north. Momentum is building in 2018 as the result of regulations being trimmed, tax cuts and other pro-business initiatives such as small-business health plans and increased apprenticeship opportunities.

Proof that these tailwinds are making an impact can be found in IFA's 2018 Franchise Business Economic Outlook. Released Jan. 29 during an IFA-sponsored State of the Union Preview at The Washington Post, the report states that the steady growth experienced in franchising over the past decade will continue into 2018. U.S. franchise establishments are projected to grow by 1.9 percent to 759,000 this year, while franchise employment is expected to expand 3.7 percent, outpacing the rest of the economy. Other takeaways from the report, prepared by IHS Markit Economics for the IFA Foundation, point to a continued upward trajectory for franchising.

What does this all mean? It means that now is an opportune time to invest in improving your franchise business. Hire more workers, fund capital improvements, open new locations...

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