The “Franchise Business Economic Outlook for 2016,” published by the International Franchise Association’s Educational Foundation compares the estimates and forecasts of 10 different franchise lines and their projected effect on the U.S. economy: commercial and residential services, table/full service restaurants, retail food, retail products and services, fast food restaurants, real estate, automotive, personal services, lodging, and business services. This report reveals excellent information about the economic outlook in the last quarter of 2016, which means consumer spending will rise—good news for franchising and business in general.
Even more interestingly, the study shows that of the ten franchise classifications, business service franchises have grown the most in the past year than any other type of franchise line. The likelihood for business service franchises to be so popular to entrepreneurs is they are relatively inexpensive and do not require a storefront. “The franchise business services industry has been one of the leaders among franchise business lines in establishment and employment growth…” the study reported. The trend is expected to continue through 2016 and beyond.
Robert Addie, franchise recruitment officer for ActionCOACH, the world’s leading business coaching firm attributes this steady growth in business services franchises to the recognition by business leaders and owners that these services are required to fulfill their business goals. “I think we see continued growth in business services franchises because business coaching is becoming more and more a part of many businesses’ and executives’ strategic plan,” Addie said.
With business services franchises increasing at a steady rate, ActionCOACH recommends investigating whether a business coaching franchise is right for you. Other business services franchise opportunities in partnership with ActionCOACH are available as well. Taking the complimentary Entrepreneurial Test ActionCOACH offers, will help you decide if business coaching is compatible with your own entrepreneurial skill set. Simply reach out to us for more information via this portal, and we will discuss your franchise opportunities with ActionCOACH and gladly answer any questions you may have.
To learn more about the ActionCOACH Franchise Opportunity Contact us today!