After experiencing several years of declines due to the nationwide recession, franchising is once again on the rise in the United States according to a recent report. In 2008, franchises comprised approximately 774,000 business in the country. Since that time, the industry steadily contracted until the total number of franchise businesses was less than 745,000. This year, the number of businesses that are franchises are expected to climb by 1.7 percent to 74,680, according to the International Franchise Association.
This is certainly welcome news for those of us who are in the franchise industry. And, based on my own personal observations, I would agree that franchises are trending upward; I have seen more franchise deals close in the past 6 months than I saw in all of 2009 and 2010. Like all of us, I hope this trend continues.