IFA: Franchise sector expected to grow by $36B in 2017
The franchise sector is expected to grow by $36 billion in 2017 through business and job additions, led by continued strong performance by the industry that uses the model most: Restaurants.
That is according to the International Franchise Association, which on Tuesday released its annual Franchise Business Economic Outlook for 2017.
The trade group said that output by franchise businesses is expected to grow to $710 billion in 2017, up from $674 billion or 5.3 percent in 2016.
The report provided numerous details suggesting that the sector should grow at a faster rate than the overall economy, which itself