Franchised businesses are a crucial component in steering the ongoing economic recovery, boosting consumer confidence, and improving sentiment among small business owners. It’s no surprise that in 2023 and beyond, the franchise market will continue to serve as an economic catalyst in many states and communities.
In the years following the pandemic, the economy faced uncertainty, and the franchise industry was among the leaders in navigating inflationary pressures and other business challenges. The industry saw exceptional growth and recovery in 2021 and was able to traverse high inflation, labor shortages, and supply chain issues in 2022, thanks to the support of its franchise network.
Despite all the challenges, the franchise market is expected to continue to see growth in 2023.
- Let’s take a look at some of the industry statistics:
- Franchise establishments will increase by almost 15,000 units, or 1.9%, to 805,000 units
- Franchising will add approximately 254,000 jobs in 2023
- Total franchise output will increase by 4.2%, from $825.4 billion in 2022 to $860.1 billion in 2023
- Franchises’ GDP will grow at a slightly slower pace of 4.2% to $521.3 billion
- Franchises’ GDP share of the overall economy will remain stable at 3%
With the franchise market thriving, the business brokerage industry is booming as well. Baby boomers are retiring and want to sell their businesses, and entrepreneurs looking to own a business are able to secure funds, thanks to the recovering economy.
Becoming a business broker with Transworld Business Advisors is an ideal opportunity to capitalize on these growing industries. Our franchisees help successful companies break into the franchise industry, in addition to helping franchisors sell more franchise locations.
Demand
With the franchise industry booming, the demand to buy, sell, and franchise businesses is a necessity that’s growing like never before. This places Transworld franchisees in a uniquely advantageous position to help both buyers and sellers in business transactions.
When you invest in Transworld Business Advisors, you’ll have the opportunity to offer business brokerage, franchise consulting, and franchise development services all rolled into one business. In addition to mergers and acquisitions services, our business model provides our franchisees with four potential revenue streams and four times the opportunity for growth and success.
As a franchisee, you’ll provide the guidance, solutions, and advice your clients need to help them grow, buy, or sell their businesses. These business transactions can be the most important purchase or sale of someone’s life, making the role of business brokers extremely crucial.
Many entrepreneurs are looking to buy a franchise concept, and many franchisors are seeking suitable franchisee candidates. Many business owners are also looking to replicate their businesses’ success through franchising. Our franchisees are able to connect these business owners and facilitate a smooth transaction process.
Industry
The business brokerage industry is important and highly in demand. With businesses always looking for ways to grow, Transworld brokers are equipped with the knowledge, experience, and resources to help our clients do just that.
Franchising is able to dominate every industry it exists within and has created jobs at a faster pace than the rest of the economy. In the US, there’s only one business broker for about every 1,850 businesses, making our turnkey investment one with plenty of opportunity.
Among those leading the franchise industry and outpacing the rest of the sector are service-based businesses and quick-service restaurants (QSRs). These two categories are expected to grow by a combined 2.5% in 2023, with support from increased consumer spending, a strong labor market, and healthy financial institutions.
Franchise establishments within the business services sector are expected to grow by 1.8% in 2023, totaling 102,000 locations. The overall business services industry experienced higher growth in 2021 and 2022. Employment within this franchise industry is on track to increase by 31,000 jobs, with a total output in the industry contributing $103.4 billion, a growth rate of 3.8%, to the economy in 2023.
Opportunities
The Transworld franchise opportunity is a great way to break into the growing franchise and business broker industries. With our turnkey investment, you’ll have the backing, training, and resources only we can provide, instead of having to figure it all out for yourself when starting from scratch.
There’s plenty of opportunity for profit within the thriving franchise and business brokerage industries. Our franchisees discreetly connect buyers and sellers so all parties can reap the benefits of a system that matches them well and ensures a smooth transition.
Our years of experience and proven franchising system enable our franchisees to leverage their investment even further. Thanks to our high-profit potential through multiple revenue streams, low-cost investment, and a strong supportive network, you can capitalize on several growing industries while enjoying a flexible lifestyle.
If you’ve considered becoming a business broker, now’s a great time to take the leap, and there’s no better franchisor than Transworld Business Advisors. Our turnkey investment features low business costs, as there’s no inventory, and the cost to enter is exceptionally low. Franchisees enjoy paying little for rent, a percentage of sales for royalties, and a monthly technology and marketing fee. With lower costs than other types of franchises, the profit potential is unlimited!
Curious to learn more about Transworld and how to break into the franchise market with us? Contact us today!