The International Franchise Expo completed its first ever weekend in New York last weekend, and by all accounts it was a fabulous success. After 20 years of being hosted in Washington DC, the annual event moved to New York for the first time and offered a great opportunity to promote international franchising.
More than 300 franchisors were at IFE this year. That's more than ever before. Up to ten thousand people were said to attend over the course of three days. This is proof that there is greater than ever intereset in franchising as it continues to defy the projections of the economist. It's predicted it will create 168,000 jobs this year, according to a report by the International Franchise Associationhis year, an increase of $21 billion.
"This year, we wanted to take the IFE to the next level," said Tom Portesy, President of MFV Expositions. "With the number of registered exhibitors and the projected attendance, we know franchising will be in the spotlight. The goal of the IFE is two-fold -- increasing awareness of franchise opportunities and putting America back to work. What better place to do it than in the business capital of the world?"
As more franchisors try to expand into an always competitive New York market, many trends have developed for this year's show. Nearly 40 of this year's exhibitors specialize in either children's products and services or educational products and services. On the frozen yogurt front alone, nine franchisors will be vying for prospective owners. And while restaurants have always held the biggest piece of the franchise pie, ten fitness and health related franchisors will be on the floor.
The convention showcased hundreds of franchises that offer a wide range of opportunities at virtually every investment level all around the world. Hundreds of thousands of prospective franchisees have attended the show in its 20 years.
As we know, franchising is a major economic force both at home and abroad. More than 20 million people are employed in franchising in the US, and it accounts for $2 trillion in economic activity.