Franchises Provide Big Boost to Nation's Economy
Washington, DC-Franchised businesses generate jobs for more than 18 million Americans and account for 9.5 percent of the private-sector economic output, a study released by the International Franchise Association Educational Foundation reported.
Conducted by PricewaterhouseCoopers, "The Economic Impact of Franchised Businesses" found that more than 760,000 franchised businesses generate a total economic output of more than $1.53 trillion, or nearly 10 percent of the U.S. private-sector economy.
The study describes the impact on the U.S. economy for two types of franchises: business-format and product-distribution. Business-format franchises operate in more than 75 industries such as restaurants, hotels, auto services, convenience stores and tax-preparation services. Examples of product-distribution franchises are gas stations, auto and truck dealers, and beverage bottlers and distributors. To read the report, visit www.franchise/org/edufound/profile/econo.asp. -International Franchising Association