Buy A Franchise – Government Data Supports Franchising

September 19th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

NEW GOVERNMENT DATA WILL HELP SUPPORT THE ECONOMIC IMPACT OF FRANCHISING

WASHINGTON, Sept. 14, 2010—The International Franchise Association said that new data in the 2007 Economic Census Franchise Report released today by the U.S. Census Bureau will provide new information to help determine the economic impact of franchising.  The Census Report was released by Tom Mesenbourg, deputy director of the U.S. Census Bureau, during IFA’s 11th Annual Public Affairs Conference being held here.

“Determining the economic impact of franchising is a key strategic priority for International Franchise Association in our efforts to showcase the importance of franchising to the U.S. economy,” said Ken Walker, IFA chairman and chairman and CEO of Driven Brands.  “This 2007 Economic Census Franchise Report will provide valuable data for the IFA’s third edition of the Economic Impact of Franchised Businesses, conducted by PricewaterhouseCoopers and scheduled for release during the International Franchise Associations’s convention in February 2011.”   

Walker said that the report was the result of cooperation between International Franchise Association and the U.S. Census Bureau to include questions on franchising in the economic census for select industries. The new report includes national-level estimates by industry sector of franchise establishments, employment in franchised businesses, and payroll and sales from franchised businesses. The report includes data from businesses with paid employees in nearly 300 industries.   

 “Franchising plays a vital role in our nation’s economy and drives new job creation,” said Walker. “This new report represents the first comprehensive ‘census of franchising’ by the government and demonstrates that franchise businesses provide many options for entrepreneurs who may be considering starting a franchise business. We appreciate the efforts by the Census Bureau to collect and make this data available.”

The Economic Impact of Franchised Businesses, Volume 3 scheduled for release in February 2011, will expand on the 2007 Census report, with additional data from businesses without paid employees.  Like the previous reports, Volume 3 will also include estimates of the indirect impact due to the products and services that franchises purchase from other businesses.  Volume 3 will include measures of both GDP (Gross Domestic Product) and economic output. The report will include breakouts by line of business, by state and Congressional District.   

These economic research reports are conducted by the International Franchise Association’s Educational Foundation to foster a better understanding of franchising’s role in the free enterprise system, its contributions to the U.S. economy and the variety of paths franchising provides for entrepreneurs to become business owners.   

To view the 2007 Economic Census Franchise Report  click here

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

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