Franchise Sector Out-Performing U.S. Economy
Many experts predict another year of stock market strength. Additionally, according to the University of Michigan’s monthly snapshot report on consumer attitudes, confidence in the economy is at an all-time high of 99.9. Sure – that sounds great…but with the stock market’s roller coaster history, can we truly depend on it? We’ve seen the DOW soar before…but how long will it last?
We think about this all the time at The Entrepreneur’s Source®, the nation’s leading career transition coaching franchise. The ongoing uncertainty and ups and downs associated with the stock market honestly make us think of something many employees suffer from each day – Battered Career and Battered Investors Syndrome. Just like employment, instead of empowerment through business ownership, the stock market is not dependable as there are too many uncertainties.
One strong and trustworthy outlook, however, comes from franchising – the business model that fuels personal success. Franchising is expected to outperform the overall economy AGAIN this year. According to a report IHS Markit Economics prepared for the International Franchise Association:
- Franchise businesses will grow again by nearly 2% in 2018 to 759,000 establishments
- Jobs from franchise businesses are expected to increase 3.7% – a .6% increase from 2017. (Private, non-franchised employment is projected to grow less than 2% – at 1.8% in 2018.)
- Actual dollar output from franchise businesses is on the upswing, too, projecting to increase to 6.2%, or $757 billion dollars, well above 2017 numbers.
But the eye-popper is this: HIS projects the Gross Domestic Product (GDP) of the franchise sector will increase in 2018 by more than 6% to $451 billion. That’s more than the projected forecast growth of 4.7% for the GDP of the whole country, in nominal dollars. To underscore the strength of franchise businesses, their revenues will represent 3% of America’s entire GDP in 2018. Pretty robust numbers!
These numbers are excellent, and Trump’s administration has helped…and will continue to help in 2018.
Many small business owners, franchise owners and independent owners, credit President Trump for following through on his campaign promises to incentivize small business growth. They’re excited that he helped lower the corporate tax rate, as well as personal taxes, and found alternatives for medical coverage for these owners and their employees. However, business owners expect the President to do more to kill off growth-stifling regulations…and it appears he’s working on it.
Bottom line for 2018 as we see it at The Entrepreneur’s Source®, the nation’s leading career transition coaching franchise – the future is bright for franchising and the people who take control of their lives by becoming self-sufficient as a franchise business owner.
With the nation’s economy flying high, what are you doing to improve your OWN personal economy? Can the job you’re in right now, provide you with the Income, Lifestyle, Wealth, and Equity (I.L.W.E.) you really want for your family and yourself? If you can’t see that happening, it may be a good time to talk with a TES alternative career coach.
Our coaches can help you evaluate your possibilities, options and dreams (P.O.D.) just as they have done for thousands of other seekers, empowering them to find their path to franchise ownership. And with a rising economy and record-setting consumer confidence, now is the perfect time to ACT!
Let’s get started! Head to www.franchisematch.com and begin your path to business ownership and empowerment with The Entrepreneur’s Source®.
Bottom line for 2018 as we see it at The Entrepreneur’s Source®, the future is bright for franchising and the people who take control of their lives by becoming self-sufficient as a franchise business owner.