Franchise Industry Booms in 2005

Convience Store News:

Entrepreneur magazine’s 27th annual ranking of the top U.S. franchise opportunities reveals that 2005 saw phenomenal growth in the franchise industry — growth that helped power the small and medium business (SMB) market to new heights.

In 2005, Franchise 500 companies brought in a combined total of $134.2 billion in sales. There was also an 11 percent increase in the number of franchise units between 2004 and 2005 — nearly three times the percentage of growth that occurred between 2003 and 2004. The growth in all franchise categories across the board shows that franchising was a major force in the growth of SMBs in 2005.