Franchising in the US

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Franchising continues to go from strength to strength as one of the best options for anyone looking to get into business for themselves or expand. Here’s some interesting facts on franchising.

Franchising is one of the most popular business models in the United States, and around the globe. Some of the world’s biggest companies like McDonalds, Subway and Century21 are franchises.

A franchise is where a company licences another business owner to operate under the name and branding of that parent company. The parent company is the franchisor and the company trading under the franchisor is known as the franchisee.

Franchising Statistics

According to statistics, it is estimated that there are more than 753,000 franchise businesses across the United States, employing over 7.5 million people. The largest segment of the franchising industry is the fast-food industry. Of the $670 billion output from franchising, the fast-food segment has a total economic output of $241 billion.

“The fast-food industry is synonymous with franchising, mostly thanks to McDonald’s,” says Derek Cafferata, CEO and President of franchise experts All State Franchise Finders. “Of the top 10 biggest franchises, seven are fast-food related.”

Other large segments within the franchise industry include real estate, business services, as well as commercial and residential services.

Franchising is Big Business

While McDonald’s is considered the largest franchise in the world, employing more than 2 million people, Subway actually has the most franchise locations of any franchise business anywhere. There are more than 41,000 Subway restaurants selling 7.6 million sandwiches each day around the globe.

Hertz Rental Cars has locations in more countries than any other franchise. Anytime Fitness is another franchise that has stretched around the globe. Anytime Fitness is the only franchise to have a presence on every continent, including Antarctica.

The Franchise Business Model

Franchising is a popular option for many entrepreneurs looking to go into business for themselves. However, financing a new business, coming up with a product or service to sell that people will want to buy and having the experience and knowledge to develop a successful business long-term is very daunting and a difficult task to achieve. Which is why so many people turn to the franchise business model.

“Franchising allows you to get into business for yourself,” says Derek. “But you have the benefit of utilizing and building on someone else’s proven success.”
While most people think of the quick-service industry when they think of franchising, there are about 300 major industries that franchises are involved in, from small owner-operated sectors to huge multi-national corporations.

All State Franchise Finders the Franchise Experts

Whatever your skill, interest or desire, there is a franchise opportunity available to suit your needs, lifestyle, financial position and career. To sift through all the options, it requires guidance from those with the knowledge and experience in franchising.

Derek Cafferata leads a team of award-winning franchise experts at All State Franchise Finders. For more information about franchise opportunities, please feel free to call 1-800-544-2161 or visit allstateff.com today. ALLSTATEFF.COM – your award-winning franchise experts!