Strong attendance at franchising’s biggest show, the International Franchise Expo in New York City was a clear indicator that the industry is in a ruddy state of health. This June, more than 15,000 attendees from the United States and around the globe met with more than 400 franchisors for the 26th annual event at the Javits Center in New York City. But the busy show only confirmed findings of the International Franchise Association earlier this year. The IFA’s annual Franchise Business Economic Outlook Report found the industry significantly outpaced the U.S. economy in 2016 and projects a similarly strong performance in 2017 with an expected 3.3 percent franchise employment growth, 1.6 percent franchise establishment growth, and a 5.3 percent growth in franchise output.
Tom Portesy, President of MFV, the show’s organiser, enthused, “The atmosphere in the expo hall was buzzing with excitement Thursday through Saturday. It was easy to see that franchising is the go-to for people who want to go into business for themselves, but not by themselves in 2017. Aspiring entrepreneurs got the chance to connect with representatives from franchise brands ranging from restaurant concepts, to home and auto service brands, all the way to new concepts like food trucks and virtual reality day camps. The diversity of both U.S.-based and international concepts showed every attendee the ever-evolving innovation of the franchise industry. We look forward to hearing life-changing stories that came from the expo.”
