IFA's 2012 Outlook for the Franchising Industry

Author: Clint Shaff

Success in life is achieved by following the good path – the path paved with hard work and the best intentions. The journey to the "promised land" may not be easy, as there will surely be obstacles along the way. However, people can learn a lot from those who made the journey and lived to tell about it – especially in the business world.


Ask any business mogul you know and they may tell you that they once started off small. It is highly likely they followed the footsteps of the kings and queens of the business world. Perhaps, they once ran a franchise belonging to a bigger company to get started on their journey toward success. Soon enough, they were already running their own company with their own franchise sets.

Many people see franchising as their stepping stone to success for a number of reasons: to earn money, improve their lives, or appear dazzling in a tuxedo. Follow a successful business model today, create your own tomorrow. In fact, franchising is so popular these days that the outlook for 2012 is anything but dismal.

The International Franchise Association (IFA) released its outlook on how franchising will fare in 2012. With the state of the economy on the road to recovery, IFA will be expecting a significant growth in all aspects of franchising and predicted the number of franchise stores to increase by nearly 2 percent this year.

Number of franchise stores aside, the franchising industry is also expected to grow in terms of employment, output, and gross domestic product (GDP). Naturally, more franchise stores equals more available jobs and more income. In fact, they show a higher rate of growth compared with that of the number of franchise stores.

IFA forecast that the growth of the franchising industry will provide an additional 168,000 jobs all over the world. The industry is expected to bring in an additional $37 billion in revenues this year, 5 percent higher than last year's data. GDP is also expected to grow by almost five percent, or $21 billion, in 2012. Generally speaking, franchising has a long way to recover from its three-year consecutive decline back in 2009 to 2011, but it will break that decline soon.

Indeed, franchising will give you a small store and a small capital to work on. However, with a little bit of patience and perseverance on your part, you may just understand how much today's business moguls have gone through to achieve their status. For more information on how the franchising industry will look in the future, you can visit the IFA website at franchise.org.

Article Source: http://www.articlesbase.com/franchise-articles/ifas-2012-outlook-for-the-franchising-industry-5744859.html

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