Talk on the Street
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Talk on the Street
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How does franchising stand up in the U.S. in today’s climate? Here’s some interesting franchising statistics to think about.
Franchising has a long history, with the origins of franchising dating back to the early 1700s when Benjamin Franklin and Thomas Whitmarsh sent their printing press business across the United States and around the world. Move forward to the late 1800s and Henry Ford began mass-producing motor vehicles. However, it was in the 1960s that franchising really took off.
Richard and Maurice McDonald opened the first McDonald’s restaurant in 1940 and began opening franchises during the 1950s when Ray Kroc joined the business as a franchise agent. But it was during the 1960s that McDonald’s gained significant momentum as it successfully opened location after location, working its way across the United States.
Going Big in Franchising
Talking about going big in franchising, McDonald’s is considered the most iconic franchise example around the globe. With more than 38,000 restaurant locations turning over more than $96 billion in revenue and employing approximately 210,000 people, McDonald’s is considered the most successful franchise in the world.
In terms of the highest number of franchises, only one other company tops McDonalds’s. Subway, with 42,000 locations across the globe, is the largest franchise in the world. Closely following McDonald’s and Subway in size are KFC, Burger King and Wendy’s.
In the United States there is over 773,000 franchise establishments generating a combined economic output of over $787 billion and employing more than 8.4 million people. It is not surprising that the quick service restaurant (QSR) industry is the leading franchising sector, generating an economic output of $250 billion. The second-largest sector is the business services industry, which generates $100 billion.
Franchising Fun Facts
A few fun franchising facts:
- Subway sells 7.6 million sandwiches each day and, with the number of options available, there is 38 million ways to make a Subway sandwich.
- Baskin Robins first started out with 31 different ice cream flavors. Today, they offer customers over 1,000 different flavor options.
- When they opened a unit of the cruise ship Magellan Explorer, Anytime Fitness became the first franchise to be represented across 7 continents.
- At Five Guys, a favorite lunch destination of former U.S. President Barack Obama, you have 250,000 different ways you can order your burger.
Franchising with the Experts All State Franchise Finders
Whether it’s franchising your business to expand and develop or buying into a franchise company to become your own boss, seeking the help of a franchise expert is the key to setting you on the right path to career, financial and personal success.
Franchise experts All State Franchise Finders is led by franchise expert Derek Cafferata. As President and CEO of All State Franchise Finders, Derek is one of the country’s most highly respected franchise experts who brings with him more than 30 years’ experience in the franchising industry within the United States and internationally.
Derek Cafferata leads a team of experts with the knowledge and experience to help you on your way to achieving your franchising dreams. For more information, contact All State Franchise Finders on 1-800-544-2161 or visit allstateff.com today.