After extensive research and analysis, Zippia's data science team found that:
- There are over 673,796 franchise owners currently employed in the United States.
- 31.0% of all franchise owners are women, while 69.0% are men.
- The average age of an employed franchise owner is 44 years old.
- The most common ethnicity of franchise owners is White (71.0%), followed by Hispanic or Latino (14.3%) and Asian (6.1%).
- In 2021, women earned 90% of what men earned.
Full Answer
How many people own a franchise in the US?
10.5% of all businesses are franchises, according to the U.S. Census Bureau. About 14% of all franchisees are veterans. As of 2021, veterans own 66,000 franchises and generate $41 billion in GDP. The U.S. franchise sector is comprised of more than 780,000 businesses.
How many franchisees are there in the US?
Key Franchise Facts - Editor's Choice There are more than 750,000 franchise establishments in the US alone. 7.49 million US employees work in franchise businesses. The economic output of the US franchise industry is valued at $670 billion. 10.5% of all businesses in the US are franchises.
What percentage of the US owns their own business?
Business Owner Gender By YearYearMaleFemale201456.50%43.50%201555.10%44.90%201656.08%43.92%201753.25%46.75%6 more rows•Sep 9, 2022
How many owners do franchises have?
There is only one 'franchise owner' and that is the franchisor, ie the business that developed the concept that's the subject of the franchise and which owns the rights associated with that concept.
How many franchises are there in the US 2022?
792,014 franchise establishmentsFranchise growth is expected to stabilize in 2022, expanding by 2.2% to reach a total of 792,014 franchise establishments, 17,000 more than 2021.
What is the biggest franchise in the USA?
KFCTop 100 Franchises 2022RankNameCountry1KFCUnited States of America27-ElevenUnited States of America3McDonald'sUnited States of America4Marriott InternationalUnited States of America16 more rows
Who owns most businesses in America?
According to the U.S. Bureau of the Census, about 90 percent of American businesses are family-owned or controlled.
What percentage of millionaires are entrepreneurs?
88% of Millionaires in the US are Self-Made Entrepreneurs Interestingly, the majority of millionaires also went to college!
How old is the average business owner?
Here's the average age of a business owner, according to a few sources: 34 years old: CNBC and Bloomberg. 42 years old: Wharton. 45 years old: Harvard Business Review, Northwestern, Entrepreneur, and Inc.
Can you get rich owning a franchise?
The bottom line is that while a franchise can make you independently wealthy, it isn't a guarantee. Choosing the right business in the right industry, and going in with preexisting entrepreneurial experience and/or existing wealth can help, but your income-generating potential may still be somewhat limited.
Is owning a franchise a full time job?
Buying a franchise doesn't have to mean making a full-time commitment. Believe it or not, there are many franchises that can be run on a part-time basis, especially when you first start out.
What do you call a person who owns a franchise?
A franchisee is a small-business owner who operates a franchise. The franchisee pays a fee to the franchisor for the right to use the business's already-established success, trademarks, and proprietary knowledge. The franchisee receives continuous guidance and support from the franchisor.
What percent of restaurants are franchised?
Census Finds 10 Percent of Businesses Are Franchised.
How many restaurant franchises are there?
There are 337 Chain Restaurants businesses in the US as of 2022, an increase of 1.7% from 2021. Has the number of Chain Restaurants businesses in the US grown or declined over the past 5 years?
How many franchises are in the world?
Across the globe, one in seven businesses is a franchise – which equates to around two million franchised companies, employing 19 million people.
Which company has the most franchises?
McDonald's The company enjoys over $90 billion in global sales and represents the largest franchise network in the world. With nearly 40,000 locations around the globe, there are few places where you can't buy a Big Mac.
What is franchising in business?
Franchising is a business concept where a franchisee is contractually permitted to use the franchisor’s ideas and business model. The franchise industry in the United States allows for companies to put licenses on their brand and distribute to a separate business.
How much money does McDonald's make?
The most famous yet most lucrative U.S. based franchise is McDonald’s, bringing in over 96 billion U.S. dollars in sales. Following McDonald’s was 7-Eleven, collecting 86 billion U.S. dollars in sales. In 2018, McDonald’s generated 11 billion U.S. dollars in revenue from its franchised restaurants.
How many franchises are there in India?
India is the 2nd largest global franchise market in the world with around 1.5 lakh franchisees and 4600 franchises. (The Economic Times)
How many franchises did veterans own in 2017?
Veterans owned 66,000 franchises in 2017. (Entrepreneur) In the U.S., 50% of franchise workers are employed by quick-service restaurants. Across America, a total of about 1,644,100 people are employed in franchise businesses.
Why is franchising important?
Franchising has become a major source of jobs, helping in reducing the unemployment rate and is also a critical engine of economic growth. The national GDP is supported by franchises.
What is a franchise agreement?
For those of you wondering what a franchise is, a franchise is nothing but a legal agreement that gives an individual the right to market a company’s products or services in a particular area. From motels to pet stores to video outlets, franchising opportunities are available in virtually every field.
How often does a franchise open?
A new franchise opens every 8 minutes, during the course of a single business day. (Reference for Business)
Why is it important to own a franchise?
A franchise is a good choice for a person who wants to own a business and has all the resources needed for it but doesn’t know how to build it from scratch. By investing lesser money than required for starting a business, buying a franchise gives the opportunity of becoming an entrepreneur.
How many countries does McDonald's have franchises?
McDonald’s has its franchises in 117 countries while Subway has its franchises in 112 countries. (Knoema)
What was the biggest franchise in the world?
Coca-Cola quickly became the biggest franchise in the world, at least when it comes to fizzy drinks. The real boom for the franchising industry came during the baby boom era. World War II was over, the world was getting back on its feet, and people needed lots of new products and services.
How many McDonald's franchises are there?
The world’s biggest franchising success story is more than 60 years old. McDonald’s now has more than 38,000 locations worldwide and employs nearly two million people. In an effort to meet the needs of customers, the food franchise is evolving by investing in tech. In 2019 alone, the company struck a $300 million acquisition deal with a personalization and decision logic technology firm. That was followed by the purchase of stakes in several companies that develop mobile apps, mobile payment systems, and even artificial intelligence.
Why is franchise important?
A franchise also offers a way to overcome great distances. These franchise facts have helped many in the business world make money.
What was the first franchise operation in history?
Back then European monarchies allowed noblemen and the church to manage lands that belonged to the Crown. They were charged with protecting the territory and collecting taxes. The nobles granted local farmers the right to use a piece of land in exchange for royalties. This is considered the first franchise operation in history.
Why did Pizza Hut get its name?
The founders of Pizza Hut, Dan and Frank Carney, chose that name because they couldn’t afford more letters for the restaurant’s sign. Some still wonder what the name of the famous pizza place would have been if the founders had more than $600 in their pocket.
How many McDonald's are there in the world?
McDonald’s is the world’s biggest franchise with more than 38,000 restaurants.
Why is 7-11 called Tote'm?
7-Eleven used to be called Tote’m because some of their stores had Alaskan totem poles at the entrance. The name was changed when the company introduced a new working schedule from 7 a.m. to 11 p.m., seven days per week.
What brands does Dessange own?
Other brands owned by Dessange include Coiff’idis and Phytodess.
What is the largest eyewear company in the world?
Pearle Vision. Luxottica is the world’s largest eyewear company. In addition to the franchise brands it owns, the Italian company also designs, makes and distributes fashion, luxury and sports eyewear under almost 20 brand names such as Ray-Ban, Oakley, Coach, Prada and more. Moran Family of Brands.
Where is FirstService located?
FirstService Brands is part of FirstService Corporation, which is based in Toronto.
Is MTY a parent company?
Mon Coco. In addition, MTY is the parent company of Kahala Brands (see above). Formerly the Dwyer Group, Neighborly (name changed in 2018) is the holding company of over 20 home service brands (most of which are currently franchising).
When did Meineke and Maaco start?
Auto franchisor Driven Brands started with the founding of Meineke and Maaco, by different people, in 1972.
Who owns CKE Restaurants?
Owned by private equity firm Roark Capital Group, CKE Restaurants was founded in 1966 with the opening of Carl’s Jr.
When did mosquito Joe move to neighborly?
The company actually dates back to the founding of Mosquito Joe in 2012. That franchise moved to Neighborly in 2018.
Jazzercise
Jazzercise is a fitness franchise company founded by Judi Sheppard Missett in 1969 and headquartered in Carlsbad, California, United States. Have you ever wanted to own a Jazzercise Franchise, but didn’t want to teach classes? Now you can! As a Business Franchisee, you don’t have to teach a single class.
uBreakiFix
uBreakiFix is an electronic repair shop founded in 2009, and currently exists in over 600 locations. These stores are primarily located in the United States, though franchises also exist in Canada and the Caribbean Islands.
MaidPro
A MaidPro franchise is truly unique — and not in just the home cleaning industry. We've tossed out those outdated franchise rules that have given franchising a bad name. We value creativity, knowledge and good, ole-fashioned friendliness. We realize everyone has different needs when it comes to financing.
Why are franchises important?
Franchises, however, go well beyond fast-food chains. They are important to many industries instrumental in providing other day-to-day services, from storage and warehousing to eyeglass stores and weight-loss centers. Detailed data on franchises comes from the Economic Census, which is taken every five years, and covers employer businesses in ...
Why are there differences between estimates?
Note: Differences between estimates may be attributed to sampling or nonsampling error, rather than to differences in underlying economic conditions. Caution should be use in drawing conclusions from the estimates and comparisons shown.
How many mail centers are franchises?
About 63 percent of the 3,149 private mail centers ( NAICS 561431) and 53 percent of the 3,186 diet and weight reducing centers ( NAICS 812191) in the United States are franchises.
What is America count?
America Counts tells the stories behind the numbers in a new inviting way. We feature stories on various topics such as families, housing, employment, business, education, the economy, emergency management, health, population, income and poverty.
Which state has the most limited service restaurants?
For example, while California had the most limited-service franchise restaurants (12,902), franchises made up only 47 percent of all limited-service restaurants in the state. In South Dakota, the 410 limited-service restaurant franchises made up 79 percent of all of the limited-service restaurants in the state.
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Key Franchise Statistics
General Franchise Statistics
- Another route by which one can become an entrepreneur is by purchasing a franchise. For those of you wondering what a franchise is, a franchise is nothing but a legal agreement that gives an individual the right to market a company’s products or services in a particular area. From motels to pet stores to video outlets, franchising opportunities are available in virtually every field. Let u…
Economic Impact of Franchises
- Compared to the durable goods manufacturing sector or the financial activities sector of the economy, franchising provides more jobs. Franchising has become a major source of jobs, helping in reducing the unemployment rate and is also a critical engine of economic growth. The national GDP is supported by franchises. We shall now look into some statistics that emphasize …
Franchises in The U.S.
- In the United States and in the local communities that they operate in, the creation of franchised businesses has had a lasting positive impact. The multifaceted franchise industry provides many benefits to the U.S. Billions of dollars in products and services are generated by franchising businesses apart from the payroll and the creation of American jobs. Now, let us look into some …
Franchise Investment
- A franchise is a good choice for a person who wants to own a business and has all the resources needed for it but doesn’t know how to build it from scratch. By investing lesser money than required for starting a business, buying a franchise gives the opportunity of becoming an entrepreneur. Compared to independent businesses, franchise businesses are much easier to fi…
Franchise Employment
- An important source of employment and economic output is franchising. Franchise concepts, especially the service sectors are benefitted from low unemployment and increasing wages that drive up consumer spending. Franchisees have to compete for an increasingly limited labor pool because of the tight labor market. We shall now look into some statistics that throw light on fran…
Conclusion
- Well, we have now come to an end of this article and these were some of the interesting franchise statistics that you can crunch upon. Limited financial capital and the need to overcome great distances have resulted in franchised businesses. Like any other business, franchisees also need to adapt to overcome hurdles along the way, more often than not influencing their competitors t…