Franchising Outlook Report Offers Further Proof 2011 is the Year to Become a Franchise Owner
By Jocelyn Chavez
If you vowed to make 2011 the year that you become your own boss and own a franchise, there is still ample time and plenty of reasons to make this the year that you realize your goals. The recent International Franchise Association’s (IFA’s) Franchise Business Economic Outlook: 
2011 Report (prepared for the IFA Educational Foundation by PricewaterhouseCoopers ([PwC]), may provide you with additional inspiration.
The report offers further proof that the franchise industry is poised for significant growth in 2011.
The IFA Franchise Economic Outlook: 2011 Report forecasts the projected gains within the franchising industry in the year ahead. Some of the highlights include growth in the following areas:
- Franchise establishments- The number of franchise establishments is expected to rise 2.5% in 2011- from an estimated 765,723 to 784,802- an increase of 19,079 new establishments. While widespread growth is anticipated, the largest gains in franchise establishments are expected in the following three sectors: Lodging (4.4 percent growth), Automotive (3.9 percent growth) and Retail Products and Services (3.9 percent growth)
- Economic output- Economic output, which is measured by the gross value of goods and services a business produces, is expected to grow for all franchise business format lines in 2011. PwC expects output to grow by 4.7% or $33.3 billion in 2011, from an estimated $706.6 billion to $739.9 billion. Automotive, Commercial and Residential Services, and Personal Services are among the franchise business lines PwC projects the largest increases in output.
- Employment and job creation- Job creation is often cited as an economic barometer because of the vital impact it has on spurring consumer spending and overall economic growth. PwC is projecting franchising industry job growth of 2.5% in 2011, creating 194,000 new jobs.
With the economy rebounding, now is an ideal time to leverage a powerful franchise brand and become your own boss. Franchises and business opportunities are available in a wide-range of industries and provide you with significant competitive advantages, including proven business models, established operating systems, widespread brand recognition, consumer loyalty and more. Discover how you can make this the year you realize your business ownership goals.