Wednesday, May 18, 2016

Franchise Business Economic Outlook for 2016

FRANCHISE BUSINESSES TO CONTINUE GROWTH TREND IN 2016, OUTPACING ECONOMY-WIDE PACE
This past January, the International Franchise Association (IFA) released the Franchise Business Economic Outlook for 2016, published by IHS Economics.

This report presents a forecast of the franchise sector of the US economy in 2016.




Some of the highlights we found interesting include:
  • The number of franchise establishments will grow this year by 13,359, or 1.7 percent, to 795,932.
  • The lodging sector leads the way with 6.6 percent output growth.
  • Retail products & services, quick service and table service restaurants, and business services will continue to be among the growth leaders in 2016.
  • The trucking industry and related services should experience increased demand.
  • Consumer spending on auto parts is expected to increase 4.3% in 2016.
  • Growth in commercial and residential services should benefit business such as architectural, project management & contracting firms, and special trade contractors.
  • Lower gasoline prices may be resulting in increased spending on eating out.
  • Growth is expected to slow in the sporting goods and hobby store sectors. 
  • Healthy growth is foretasted for a wide range of business services, including accounting & bookkeeping, and architectural & engineering services



No comments:

Post a Comment