New, Old Concepts Highlight Franchising

Oak Brook Business Ledger:

Franchising is a large industry that’s getting bigger with hundreds of new types of offerings, so many that there seems to be something out there for almost everyone.

Area franchise owners represent the varieties of opportunities available for the would-be franchise entrepreneur, ranging from newer ideas such as 1-800-Got-Junk to CD One Price Cleaners to Fast Signs. And of course there are also more traditional franchises such as ones for Subway sandwiches and Midas Muffler and Exhaust.

Franchising is a small business opportunity with big numbers, according to a study conducted by for the International Franchise Association’s Educational Foundation by PricewaterhouseCoopers.

The study found that there are more than 760,000 U.S. franchised establishments generating in excess of $1.5 trillion in economic activity and producing one out of every 7 jobs.

Another Foundation study, ‘The Profile of Franchising 2006,’ conducted by FRANdata Corp., determined that 900 new concepts began franchising in the United States between 2003 and 2005. Furthermore, out of the existing brands, 17 of the 18 categories of business experienced significant growth.

The International Franchise Association said that investment in a franchise ranges from as low as $10,000 to more than $1 million. But there can be situations where less money is needed as a down payment.