December Jobs Report Mirrors Growth Sectors for Franchising in 2013
WASHINGTON, Jan. 4—The International Franchise Association today said many sectors showing growth in the December jobs report mirror those sectors expected to be the leading drivers of employment in franchising in 2013. The Department of Labor December jobs report showed the economy added 155,000 jobs last month, many in food service, health care, hospitality and construction--sectors with high concentrations of franchise businesses that are expected to grow in 2013 according to IFA’s 2013 industry forecast.
“Franchising remains a viable business model with growing brands in the home health care, restaurant, hospitality and construction sectors, among many others, contributing thousands of new jobs in 2013,” said IFA President & CEO Steve Caldeira. “For those Americans dealing with long-term unemployment or a lack of growth opportunities in their current jobs, franchise ownership offers a viable way to be in business for yourself, but not by yourself.”
According to The Franchise Business Economic Outlook: 2013 , a report prepared by IHS Global Insight and released Dec. 20, 2012, all 10 business-format franchise lines expect to add jobs in 2013, pushing total employment in franchising up 2.0 percent, from 8.1 million to 8.262 million (an increase of 162,000 new jobs). Commercial & Residential Services (including construction) will be the growth leader in 2013, with an increase of 2.8 percent, up from 1.7 percent in 2012, from 346,822 to 356,533 (an increase of 9,711 new jobs). Three other sectors that are expected to show employment growth above the overall franchise average of 2.0 percent are Business Services, up 2.6 percent from 909,329 to 932,329 (23,643 new jobs) and the restaurant & food service sectors (both quick service and full service restaurants), up 2.2 percent from 4,050,922 to 4,140,042 (89,120 new jobs).
About the International Franchise Association The International Franchise Association is the world's oldest and largest organization representing franchising worldwide. Celebrating over 50 years of excellence, education and advocacy, IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising. Through its media awareness campaign highlighting the theme, Franchising: Building Local Businesses, One Opportunity at a Time, IFA promotes the economic impact of the more than 825,000 franchise establishments, which support nearly 18 million jobs and $2.1 trillion of economic output for the U.S. economy. IFA members include franchise companies in over 300 different business format categories, individual franchisees and companies that support the industry in marketing, law and business development.