April 8, 2012
Franchised opportunities are brilliant options for entrepreneurs who want to invest in a turn-key operation, join and enjoy the fruits of a recognized brand, and experience a whole support team behind the venture. Franchises are big business and account for close to 800,000 business establishments in the US alone. Everywhere you turn in your community, in your town or city, you will encounter a franchised opportunity, offering you products and services.
McDonald’s, Subway, Pizza Hut, Pearle Vision, Hampton Inn & Suites, 7-11, and H&R Block franchises hammer the consumer with multiple locations and big advertising campaigns to ensure our brains are wired into recognized brands, wherever we go. Some of these factors make it very challenging for entrepreneurs to enter the markets with their own individual start-up brands.
Franchise Statistics – Infographic
MGD Marketing has developed and distributed this infographic on franchise statistics and outlook in the US. Here are some key points from most recent year of statistics (2011):
- $1.3 Trillion in Sales across all franchises (2007 US Census Bureau)
- Over 784,000 establishments
- 7.8 Million employees; growth in number of employees 3 years straight
- Output: $740 Billion
- Number of Lodging franchises experiencing the highest growth 2010-2011
- Both Franchisors and Franchisees experience similar challenges with access to credit, same-store sales, and competition
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© 2012 Strategy Plan One