ADP’s March 2014 National Franchise Report has been recently released to the public. According to its data, national employment added 220,000 jobs in March. Franchises are responsible for 30,830 (just over 14%) of those jobs.
According to ADP’s historical data (dating back three years), franchise job growth has only seen a loss in one month in the past 36 (January 2012).
The biggest adders to the payrolls were the restaurant industry and the auto & auto repair industry. Restaurants added 13,900 jobs (compared to only 600 in February 2014). Auto & auto repair tend to seasonally add jobs this time of year, coming off of harsh winters. In March 2014, the industry added 8,500 jobs.Rounding out the Top 5 industries (in franchise job growth) were Accommodations (1,990), Business Services (1,450), and Food Retailers (590).
As you can see, there are a variety of different franchises out there. One of the most important things to know when you are debating about starting a business is your industry trends. This comes with doing your research.
One of the ways to find out what you need to know about starting a franchise is by attending “Franchising 101: Business Ownership Options” At my free workshop, I’ll talk about the basics of franchising and how to determine what businesses and industries could FIT YOU
This workshop takes place on May 20 at 9 am in Grand Rapids, MI. For more information and to RSVP, please visit frannet.com/bbetser. You can also contact me at bbetser@frannet.com or 616-891-1374.
