Backed by a business-friendly environment, the International Franchise Association expects the industry to experience success in 2017.
As the new year gets underway, the franchising industry is on a roll. The International Franchise Association is expecting the industry to expand by 1.6 percent in 2017. That then translates to more jobs—the IFA’s annual Franchise Business Economic Outlook report also reports that franchise employment should expand by 3.3 percent this year to 7.8 million workers, ultimately adding 250,000 new jobs.
According to Robert Cresanti, the IFA’s president and CEO, that growth is partially being fueled by a pro-business economic environment. In an interview with CNBC, Cresanti said, “The industry generally has some amount of optimism that the next four years will not be like the last eight. Nobody really knows what the new President and administration will do, but with some of the appointments he has made, there is hope that we have a chance to sit at the table.”
CNBC notes that the personal services, quick service restaurants, table/full service restaurants, retail products and services and business services segments of the franchising industry are expected to experience the most growth over the course of the next year.
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