If you’re considering entrepreneurship, you’ve likely heard of franchising, a popular business model. Some of the biggest names in the fast-food industry are franchise brands. But before you decide if franchising is the right path for you, learn some of the latest franchise statistics highlighting the strong potential of a franchise investment. Get the insight you need to make the right choice for you.

What is a Franchise?

A

is a business model where an individual (the franchisee) is granted the rights to operate a business using the branding, products, and established systems of an existing company (the franchisor). As part of this agreement, the franchisee may pay an initial franchise fee, ongoing royalties, and certain other fees. In exchange, the franchisor provides support, training, and a proven business model to its franchisees. This symbiotic relationship allows entrepreneurs to benefit from a tested business blueprint and companies to rapidly expand their brand.

An important requirement in franchising is the

. Mandated by the Federal Trade Commission (FTC), the FDD is 23 items, or sections, long. Providing thorough details about the franchise brand and their investment opportunity, the FDD includes information such as litigation history, investment costs, ongoing fees and expenses, financial representations and statements, territory restrictions, and more. Before you choose to invest with any brand, it’s imperative for you, and a franchise attorney, to carefully read through the FDD.

Fast Franchise Facts

So,

? Truth be told, it depends on the brand with which you choose to invest. However, the following franchise statistics will help you understand the state of the industry:

• In 2023, there were approximately 805,500 franchise businesses across the nation. Employing nearly
  8.7 million people
  , these businesses had a total economic output of $860 billion.
• Franchise businesses are projected to grow by 1.9% in 2024. These
  15,000 new units
  will create 221,000 additional jobs in the U.S.
• It’s estimated that one in every 12 U.S. businesses is a franchise. In fact, franchises account for up to
  40% of all sales
  in the U.S. Plus, a new franchise opens approximately every eight minutes.
• The latest numbers show there are an estimated 43,230 multi-unit franchise owners. Comprising
  53.9% of all franchised units
  in the U.S., these owners operate approximately 227,224 locations within business-format systems.
• The franchise industry spans over 300 business categories. If you have a passion or interest in which you’re looking to invest, there’s likely a franchise opportunity for you.
• Franchise businesses have a higher survival rate than independent businesses. In the first one to two years of business, franchises tend to grow faster than their independent counterparts due to their recognized branding.

Partner with Zaxbys

Interested in starting a quick-service restaurant (QSR) franchise? According to the

, the QSR sector is growing. Projected to reach nearly in 2024, QSRs will be the second fastest-growing segment in franchising. With Zaxbys, you’ll get direct access to our proven business model, comprehensive training, and ongoing support – ensuring you have all the tools you need to build a lucrative restaurant business.

With more than 950 locations nationwide and plenty of additional

for investment, you can bring saucy chicken to your community. Combining the charm of a local business with the backing of a national franchise leader, our franchisees are able to build multiple revenue streams through walk-in diners, mobile and online ordering, and drive-thru traffic.

Become your neighborhood’s favorite stop for chicken sandwiches, fingers, wings, salads, tacos, and more. Get information about our chicken franchise opportunity today by submitting our

. Once we receive your inquiry, we’ll set up an introductory call.