2012 Franchise Growth Industries
The International Franchise Association has published their 2012 economic outlook. It’s interesting both for those in the franchise industry, and for any business, because if a business in growing in the franchise sector, it’s probably growing in general. You can see the full study at http://www.franchise.org/2012forecast.aspx or the quick fact sheet at http://emarket.franchise.org/EconOutlookFactSheet12.pdf.
The Coles Notes version is that the IFA expects franchising to grow by 1.9% in 2012 and economic output to grow by 5% in the same year. However, this outlook for growth is highly dependent on which sector one happens to be in. The highest expected growth within the franchising sector is in Personal Services (which include educational services, health care, entertainment and recreation, personal and laundry services, veterinary services, loan brokers, credit intermediation and related activities, and personal transportation), followed by Retail Products and Services. Quick Service and Table/Full Service restaurants are expected to surpass all other business formats in growth in 2011 (not just within franchising).
The report has lots of interesting numbers and charts and is created for the IFA by ISH Global insight.
Lastly, for those who really enjoy statistics (and there are lots of them this time of year), here are the Globe and Mail’s predictions about growth industries for 2012: http://www.theglobeandmail.com/report-on-business/small-business/starting-out/top-5-industries-to-start-a-business-in-2012/article2287411/, or for more similar information about franchising, have a look at http://www.entrepreneur.com/article/222412.
Enjoy the new year, and remember that while the statistics are important, what you do in your own business is equally important and growth challenges can hit any company in any industry, but they’re certainly better than the alternative 
Share