Franchising offers first-time business owners guidance, support and a proven business model. And in today’s economy, starting a business can provide more stability than a job in corporate America. Franchises in particular can be see as lower risk.
A report by research firm IHS Global Insight conducted for the International Franchise Association estimates that after three years of decline, the number of franchises will grow this year by 1.9 percent, from an estimated 735,571 establishments in 2011 to 749,499 businesses this year.
The forecasted growth also means more jobs. The report estimates that new franchises will contribute to 168,000 new jobs, a 2.1 percent increase from last year.