Franchising is more popular than ever before. During the previous three years, nearly 900 new franchising concepts were launched, 500 of them in 2005 alone, according to a study by FRANdata of Arlington, Va.
In fact, franchised businesses now account for nearly 10% of the nation’s private-sector economy and employ more than 18 million Americans, according to the International Franchise Association.
For operators, it can be a way to start with built-in brand marketing and name recognition, plus support from other franchisees and the franchiser.