(Newswire.net — March 15, 2017) Charlottesville, VA –As the economy continues to heat up after a sluggish recession recovery, the franchise sector is booming. Business expert and entrepreneur Paul Flick has noted that dramatic growth in that sector has exploded in recent years. The International Franchise Association (IFA) recently released its annual projections, entitled Franchise Business Economic Outlook for 2017. In the outlook, the franchise sector is expected to see $36 billion in growth, encompassing over $710 billion in franchise business opportunities across markets. “Franchise growth and a strengthening economy have led to sizeable increases in revenue,” says Paul, who has worked in the business world for many years. “Restaurants, in particular, are dominating the franchise landscape.” To learn more about Mr. Flick’s work in business, visit https://www.linkedin.com/in/paul-flick-0a15186.
The numbers in franchise growth projections are staggering. The number of franchise establishments alone is expected to increase by as much as 1.6%, which will include over 744,000 locations. These franchise business locations are expected to employ 7.9 million people, particularly in fast-casual and quick-service restaurant franchises. Some of the largest franchise chains, such as Subway, Domino’s, McDonald’s, and Wendy’s, occupy the highest numbers in franchise locations. But, says Paul, who has gauged trends in the restaurant industry for several years, “There are a number of up-and-coming restaurant franchises that are steadily chipping away at the market share of established giants.” These include more health-oriented and gourmet choices like Noodles & Company, UFood Grill, Saladworks, and Wow Bao among many other emerging franchise players. Full-service restaurant chains are enjoying the fastest rate of growth among franchises. Output of these chains is expected to grow by 6.8% to $67.5 billion in 2017.
The IFA and other franchise industry analysts suggest that relaxing business regulations in the United States will help to spur further growth across franchise market sectors. Because the food-service industry is an economic driver, with millions of jobs and job opportunities, lobbying groups are pushing for regulatory changes from the Trump Administration. Changes such as tax relief options for new business owners may stimulate growth for many years to come. With projections for the franchise sector looking up, many entrepreneurs like Paul Flick are encouraging younger businesspeople to delve into the franchise market. “Owning and operating a franchise is a smart move, especially with the current business climate,” says Paul. “For a relatively small initial investment, a new franchise owner can have the backing of an established company and their marketing prowess, which minimizes risk.” For more information on Paul, visit https://www.slideshare.net/Paul-Flick.
About Paul Flick
Paul Flick has 20 years of leadership and management experience in the franchising industry. He is the founder and CEO of Premium Service Brands, and leads multiple home services franchise systems that operate on an international scale: 360° Painting, Pro Lift Garage Doors, and Maintenance Made Simple. He began a successful corporate career with Coca Cola after graduating from the University of Windsor, but soon felt called by his entrepreneurial spirit to found his own company – a highly successful business that now achieves over $40 million in system sales, a feat accomplished by 93% revenue growth in the past two years alone. His reputation for success has been earned through realizing and building a proven and effective business structure that supports franchise partners from day one – key principles based in training, support, and comprehensive systems.