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Franchise Watch - Business Services Franchises
In a recent study carried out by PricewaterhouseCoopers in association with the International Franchise Association (March 2007) - it reported how the franchising industry is growing faster and provides more employment in all industry sectors compared to independent business sectors in operation within the US economy.
“Franchising grew by 18% in 2001-2005 creating 1.2 million jobs“. (IFA Insider) This is a huge result and shows just how effective franchising can be as a business system achieving huge success and earning potential for all parties involved.
In the second part of this study (600 page document) the importance and growth of business services franchises was revealed to be much stronger compared to the product distribution franchise industry- growing at annual rate of 5.7% between 2001 and 2005, while the number of product-distribution franchises declined by 1.7% every year since 2005. (IFA)
Product distribution franchises sell a franchisor’s products and services in supplier-dealer relationships- examples are gas stations, automotive dealerships and drinks distributors. While business services franchises consist of the following categories:
- advertising and marketing;
- consumer credit reporting and debt collection services;
- mailing and shipping, courier services;
- employment and staffing services;
- miscellaneous services such as beauty, security (protection services), ATM technology services and so on.
These business services franchises operate their business in accordance with a franchisor’s operations manual and preferred business systems.
Business services franchises are the fastest growing franchise industry sector than any other industry sector according to this recent survey.
Click on the link provided here to view some of Franchise Direct’s top business services franchises and get in on this thriving industry…
Franchise Reporter
