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Quick Statistics

Did you know?

  • There are over 3,000 different franchise concepts in the United States.
  • More than 780,000 franchised units operate in the United States (over 23,000 in Michigan).
  • The franchising industry and businesses employ nearly 8.3 million people in the U.S. (247,000 in Michigan).
  • The franchise industry accounts for 40% of all retail sales in the United States.
  • A new franchise business opens approximately every 8 minutes, every business day.
  • Approximately 1 out of every 12 businesses in the United States is a franchise business.
  • Average of royalties paid by Franchisees range from 3% to 6% of monthly gross sales.
  • Most franchise companies have fewer than 100 units.
  • The average length of a typical franchise contract is 10 years.
  • The top franchise industry is fast foods.
  • Franchising by those 55 and older is up 40% since 2007.
  • 80% of Michigan residents polled had a favorable view of family-owned businesses in their community.

Source: International Franchise Association

Top 10 Fastest Growing Franchises in 2020

See the latest from Entrepreneur Magazine

  1. Supercuts ($151K - $321K)
  2. Jan-Pro Franchising ($4K - $56K)
  3. Reis & Irvy's Planet Fitness ($140K - $1.1M)
  4. Cruise Planners ($2K - $24K)
  5. Taco Bell ($571K - $3M)
  6. Planet Fitness ($968K - $4.1M)
  7. Stratus Building Solutions ($4K - $80K)
  8. Dunkin' Donuts ($200K - $1.7M)
  9. Orangetheory Fitness ($576K - $1.5M)
  10. Goosehead Inurance Agency ($42K - $177K)

2020 Top New Franchises

As ranked by Entrepreneur Magazine

  1. Walk-On's Sports Bistreaux ($1.2M - $4M)
  2. The Flying Locksmiths ($183K - $428K)
  3. Burn Boot Camp ($150K - $470)
  4. Snapology (41K-221K)
  5. Lendio Franchising ($30K - $117K)
  6. Mosquito Hunters ($72K - $94K)
  7. Conserva Irrigation ($82K - $102K)
  8. SmartStyle ($149K - $305K)
  9. Chop Stop ($316K - $600K)
  10. Spaulding Decon ($123K - $140K)
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