Solidifying the importance of franchises to our nation’s economy, the US Census Bureau recently published the first- ever Economic Census Franchise Report, a collection of data specific to the franchise industry. Over the span of 3 years, having started collecting data back in 2007, the Census reports that 10.5 percent of our nation’s businesses are, in fact, franchises. Also to their credit, franchises account for nearly $1.3 trillion of sales and 8 million jobs nationwide.

In our current unpredictable economic climate, becoming a franchise owner offers entrepreneurs the freedom of owning their own business, while receiving security and support from an established brand. For one of Wireless Zone’s newest franchisee owners, making the switch from sole proprietorship to franchisee owner was just that. Having owned his own wireless store for 20 years, he made the decision to become a Wireless Zone franchisee, for the “credibility and stability that the brand offered.”

And for corporate brands, the findings give a renewed sense of optimism for continued growth. As word spreads about the profitable performance of franchises, companies can expect a rise in qualified leads from entrepreneurs interested in making the leap to franchise ownership. Brands like Lawn Doctor, a 40+ year veteran to the franchise industry, and Guier Fence, the first ever fence franchise launched in early 2009, have already seen a number of “mom ’n’ pop” businesses entrust in their brand name and their established business model. Both companies foresee the trend continuing and are excited to expand into new markets, creating new jobs and helping to boost the overall economy.

From corporate brands to eager entrepreneurs to the thousands of out-of-work employees, the Economic Census Franchise Report renews optimism for a stable economy. In the coming years it will be exciting to watch franchised businesses continue to increase in popularity, grow to multiple locations in non-traditional markets and be an integral force in returning our economy to what it once was.

A Blog Post By: Megan Kearney (@megankearney)
Megan is the newest member of the No Limit PR team and is still getting used to showering in the morning as she worked from home for three years before joining the Buzz Squad.