Category: Introduction to Franchising
Franchising is essential to the business market as it helps to bolster growth and development of brands in most industries. While the concept comes from ancient China, this is something that has evolved tremendously over the years. It grew tremendously as something business professionals could maintain, starting in the Middle Ages and exploded in America during the 1800s.
1. Franchise Ownership Rate Franchising is a popular business model, and franchise ownership has been steadily growing. In the United States, the International Franchise Association (IFA) reported that there were approximately 773,603 franchise establishments in 2020, employing around 8.3 million people. 2. Demographics Franchise buyers come from diverse backgrounds and age groups. According to the […]