Franchise Statistics A FEW MORE REASONS WHY FRANCHISING IS SO SUCCESSFUL
Landlords love franchises. With a 97% success rate, the franchise is the only tenant the property owner wants. Best locations = Most successful business.
A very recent Franchise Times magazine survey of franchise owners found that an amazing 90% would recommend franchise ownership!
A U.S. Department of Commerce study conducted showed that during that time less than 5% of franchise businesses were closed each year.
A U.S. Small Business Administration study found that 62% of non-franchised businesses closed within the first 6 years of their existence due to failure, bankruptcy, etc.
Total sales by franchised businesses are projected to reach over $2.2 trillion this year.
1 out of every 8 businesses is a franchised business.
A new franchised business is opened every 8 minutes of every business day.
Franchises account for 42% of all retail sales, a number expected to grow to 50% in the next decade.
According to a February article by the National Federation of Independent Business (NFIB), 1 of 4 small businesses with employees have their primary location at home, and 85% of all small firms are operated by owner-managers.