The franchise industry is set to have a good year. The 2018 Franchise Business Outlook has been published by the International Franchise Association (IFA), and the industry’s growth looks very optimistic. According to the association’s research, the franchise industry is expected to expand for the eighth straight year. The IFA estimates that franchise output will increase by 6.2 percent to a whopping $757 billion.
Every entrepreneur is looking for the next big trend, opportunity or money-making venture. It’s crucial to look ahead and try to predict the most successful industries of the future in order to get in on those opportunities now.
Individuals looking to operate their own business have various options for branching out into the business world. One is to join a franchise. Some might find this an attractive option as compared to trying to build a business completely from scratch. Becoming a franchisee can have many benefits, including getting to be connected to an already established brand.
Fitness has been a booming business here in the U.S. in recent years. And one sector of this industry that has been seeing some particularly significant growth lately are franchises. Recent years have seen franchise growth coming in faster than industry-wide growth within fitness. And some estimates are predicting that this will continue. According to one set of recent estimates, franchise brands will see about double the growth rate of the fitness industry in general between now and 2022.
After five years of conflict with franchisees fighting a fast food giant, northern and eastern India now finds itself without 169 McDonald’s restaurants.
Big Mac attacks do not exist in El Salvador. Residents of that country have Don Mac attacks. And don’t look for a McDonald’s. You will only find a Donald’s.
For two consecutive years in 2004 and 2005, Canadian Business magazine named Tim Hortons as the best-managed brand in Canada.
The poster read, “Can’t tell the difference? That’s too bad because Jimmy John’s workers don’t get paid sick days. Shoot, we can’t even call in sick. We hope your immune system is ready because you’re about to take the sandwich test.”
Similar to any form of business partnership, the franchisor-franchisee relationship presents significant risks. Once an agreement is signed, possible obstacles and disputes loom in the future.
Under the previous presidential administration, franchisors faced increasing pressure through “joint employer” classifications with their franchisees. Sharing employer status with individual and smaller business owners opened them up for more lawsuits over workplace discrimination or injuries.