The franchise industry is still on the rise, according a recent study by the International Franchise Association.
The study shows that in 2012, the number of franchise establishments in the U.S. increased by 1.5 percent. The IFA predicts the number will increase by another 1.4 percent in 2013 -- from 746,828 to 757,055 (an increase of 10,227).
The number of jobs in franchises also are estimated to increase in 2013, from 8.1 million to nearly 8.3 million, a 2 percent increase.
- The gross domestic product (GDP) of the franchise sector is projected to increase 4.1 percent in 2013, from $454 billion to $472 billion -- about 3.4 percent of U.S. GDP in nominal dollars.
- The output of franchise establishments (in nominal dollars) for 2013 is projected to increase 4.3 percent or $33 billion (from $769 billion to $802 billion).