Anytime you decide to invest your time and money into an idea, it makes good sense to do your research and learn more about what you’re getting yourself into. With franchising, there’s tons of information readily available about the ins-and-outs of the industry. But to really gain a keen perspective on things, here’s a dozen interesting franchising facts that will help you better understand the world of franchising as you embark on an ownership opportunity.
As a Matter of Fact…
- Franchising continues to experience growth, which proves the efficiency of this industry coming out of the economic woes of the pandemic. Based on the latest economic outlook from the International Franchise Association (IFA) there are approximately 775,000 franchise establishments that support nearly 8.2 million direct jobs.
- Franchising boasts $787.7 billion in economic output for the U.S. economy, and almost 3% of the Gross Domestic Product (GDP).
- The IFA forecasts that franchising will end the year with more than 792,000 establishments, adding a net gain of 17,000 new locations, with a growth rate of 2.2%.
- QSR or quick service restaurants are the largest segment of franchising in the U.S., comprising more than $276 billion of the industry’s total economic output. The next largest segment is business services, coming in at $100 billion; followed by full-service restaurants; real estate; and commercial and residential services.
- The Southeast has the largest franchise concentration in the U.S., with an estimated 231,500 total establishments, employing 2.6 million workers and contributing $235.9 billion in output to the U.S. economy.
- The top 10 states for franchise growth are projected to be Texas, Florida, Arizona, South Carolina, Idaho, Tennessee, North Carolina, Montana, Nebraska, and Nevada.
- There are more than 673,796 franchise owners in the U.S.
- An initial investment of about $250,000 is required for more than half of all franchises to open.
- Based on stats from the U.S. Census Bureau, 10.5% of all businesses are franchises. Of those, 14% of franchisees are veterans, who own 66,000 franchises and generate $41 billion in GDP.
- Entrepreneur says, based on research done by Guidant Financial, it’s estimated that women account for approximately 31% of all small business and franchise ownership in the U.S.
- The average age of a franchise owner is 44 years old.
- The biggest franchise in the U.S, according to a recent analysis by Franchise Times is McDonalds’s followed by 7-Eleven, KFC, Burger King, Ace Hardware, Domino’s, Subway, Chick-fil-A, RE/MAX (real estate) and Circle K.
The Facts Speak for Themselves at Wild Birds Unlimited
The fact of the matter is, having all this knowledge about franchising will be beneficial to you as a franchise owner. You want to know the industry to determine the franchise most suited for you.
If what you want is a career you enjoy in a recession-resistant wildlife business, allowing you to be part of one of the most profitable franchise opportunities, flock to Wild Birds Unlimited. What has helped us grow to more than 350 locations throughout North America is satisfying a need in our communities. We are a niche franchise that provides wild bird supplies, great service, and knowledge about wild birds.
Not only is the franchising industry soaring to new heights, but so too is Wild Birds Unlimited, and that means growth opportunities for you as a franchise owner. While they’re not franchising facts, we’ve got some impressive information from the U.S. Fish and Wildlife Service:
- 81 million people participate in feeding birds and other wildlife
- $5 billion is spent annually on birdseed and wildlife food
- $960 million is spent annually on bird feeders, bird baths, and nesting boxes
- $1.8 billion is spent annually on binoculars and spotting scopes
- $7.6 billion is spent annually on bird feeding and watching wildlife
But franchising facts don’t tell the whole story. If you’re ready to learn more about the opportunities here at Wild Birds Unlimited, tap the red button on the top of this page, fill out the form, and download our franchise report. We look forward to hearing from you.