Prince George's County Economic Development Corporation’s Post

PATHWAYS TO FRANCHISING: THE ROAD TO ENTREPRENEURSHIP SESSION THREE: Expanding Franchise Brand Opportunities The Pathways to Franchising Program is designed to provide Prince George’s County residents entrepreneurial opportunities through franchising. This three-part series will provide education on the foundations of franchising, various franchising industries and how to enter the market. In partnership with the International Franchising Association and the Maryland Black Chamber of Commerce, the EDC will host a series of information sessions where participants will learn how to enter the franchising industry, receive technical assistance to prepare to enter the franchising industry and network with franchising brands seeking to expand in Prince George’s County. Session Three Goals: -Understand the franchising process and range of opportunities. -Gain access to resources via business organizations, county agencies and private partners -Learn what attributes franchise brands are seeking in potential franchisee candidates. -Network and connect with existing franchisees. Register Today! https://lnkd.in/emTcCQGy

Interesting high level review of what's happening in the world of Franchising, for a deeper dive see the full report at the International Franchise Association's website, the link is below. The 2024 Franchising Economic Outlook is IFA’s annual study in partnership with FRANdata detailing the franchise sector’s performance for the past year and projected economic outlook for the year ahead, as well as an in-depth state outlook for all 50 states and Washington, D.C. The report highlights sector growth across eight key franchising business lines and details regional trends, including the top states for franchise growth. It also provides key insights into the state of the U.S. economy, trends in business, and challenges facing small business owners.   Key highlights from the report include: The overall number of franchise establishments will increase by more than 15,000 units in 2024, or 1.9%, to 821,000 units in the U.S. Franchising will add approximately 221,000 jobs in 2024. Growing at 3.0%, total franchise employment is forecasted to reach 8.9 million. The total output of franchised businesses — the measure of total economic activity in nominal dollars — will increase by 4.1% to $893.9 billion in 2024, up from $858.5 billion in 2023. Franchises’ GDP will continue to grow, increasing at a pace of 4.3% to $545.8 billion. Personal services and quick service restaurants (QSRs) will experience the strongest growth of any industry. Growth in the Southeast and Southwest will outpace the rest of the U.S. franchise market in 2024. The top ten states for franchise growth include: Texas, Florida, Georgia, North Carolina, South Carolina, Tennessee, Maryland, Arizona, Colorado, and Virginia. California and Washington are forecast to be the slowest-growing states for franchising at - 4.2% and -2.3%, respectively

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.

Explore the future of franchising in 2024 with insights on trends and innovations. Franchise Wire provides a comprehensive overview of what lies ahead for the franchising industry.