January 8, 2013
The franchising industry may see an increase in restaurant franchises in 2013. Restaurant franchising should grow faster this year even though many industries are projecting slow downs, according to the International Franchise Association.
Reports show that the quick-service restaurant industry will grow and have a five percent sales increase in 2013. Sales for the restaurant industry are expected to increase to $206 billion this year, an increase of five percent from 2012. According to the report, this is one of the few business areas expected to grow this year as seven out of 10 franchise business areas will probably slow down this year.
The International Franchise Association said that they are excited that the franchise industry is still growing during the current economy. Many current restaurant franchises are excited to continue their franchising efforts and are currently looking for individuals interested in become restaurant franchisees.
The outlook for the franchising industry, especially for restaurants, is particularly strong this year. Individuals interested in starting their own franchise or buying a franchise often face many complicated issues that need to be addressed in a clear, knowledgeable way.
Those interested in working in the franchise industry should work with a franchise attorney to help answer questions and address what considerations and decisions need to be made before running a franchise. It is important for those interested in starting or running a franchise to understand the legal rights and obligations of working in this industry. Starting or running a franchise should be an exciting opportunity and having the knowledge and expertise beforehand will increase the chances for success in the future.
Source: Dayton Business Journal, "Restaurant franchising to heat up in 2013," Olivia Barrow, Dec. 27, 2012