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U.S. Franchised Businesses Make Significant Impact on Economy According to New Economic Census Data
U.S. Census Bureau releases new data from 2012 Economic Census that sheds light on franchising's economic impact
According to a press release distributed by the International Franchise Association (IFA), the U.S. Census Bureau released today comprehensive data from the 2012 Economic Census that demonstrates the notable impact franchising has on the economy. It's the first time since the 2007 census that the number of franchised businesses, jobs and payroll have been highlighted.
According to the Census Bureau report, franchising accounted for 560,086 establishments and 10.8 million jobs in 2012. These franchises recorded sales of $1.5 trillion and paid $193.3 billion in wages, salaries and benefits.
According to IFA President & CEO Robert Cresanti, the knowledge gained from understanding the statistics is an important part in continuing the education of the public and lawmakers about the significance of the franchise business model.
Cresanti went on to say that the data only further solidifies the case that locally-owned franchises continue to be a vital part of the small business backbone of the American economy.
To read the IFA's press release, please click here.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
