Employment Data Bodes Well for Franchise Development – Fewer Applicants Coming From Full Time Jobs

April 10, 2024 – Franchise developers have been swimming upstream against a tide of employers clinging to full-time workers since the post-pandemic return to work. Over the last year, fewer aspiring franchise owners were leaving full-time jobs. In our March 2024 Small Business Startup Sentiment survey, franchise seekers who say they are leaving full-time jobs reached a four year low at 36.9%, as U.S. employers shed full-time workers.

Record Share of Franchise Seekers Upbeat About Startup Conditions Ahead

April 2, 2024 – Over 61% of aspiring business owners either agree or strongly agree that “now is a good time to start a business,” with optimism about conditions ahead. In the March survey, a record 89.3% of respondents see conditions for business and franchise startups “the same or better in three months.”

Franchise Development Teams Expect to Increase Google Spending More than Meta and LinkedIn in 2024

February 28, 2024 – When asked about advertising plans for 2024,about a third of franchise development teams expected to increase their spending somewhat or significantly at Google, Meta or LinkedIn. This is following 2023 wherein, despite tumultuous business conditions and shocking news headlines, more than 58% of franchisors surveyed either stuck to their growth plans (50.0%) or increased them.

Franchise Development Forecast