Franchise Industry Facts
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.
Top 10 Fastest Growing Franchises in 2022
Amount in (parentheses) indicates initial investment range.
See the latest from Entrepreneur Magazine
- 7-11 ($70K - $1.2M)
- Century 21 ($25K - $457K)
- KFC ($1.4M - $2.8M)
- Stratus Bldg. Solutions ($4K - $80K)
- McDonalds ($1.3M - $2.3M)
- RE/MAX ($43K - $287K)
- Jan-Pro ($4K - $56K)
- Sign Gypsies ($4K - $10K)
- Goosehead Insurance ($42K - $117K)
- F45 Training ($313K - 485K)
2022 Top New Franchises
Amount in (parentheses) indicates initial investment range.
- Conserva Irrigation ($82K - $102K)
- Koala Insulation ($127K - $165K)
- Corcoran Real Estate ($53K - $546K)
- Card My Yard Signs ($8K - $17K)
- Sign Gypsies ($4K - $10K)
- Your CBD Store ($709K - $90K)
- Epic Wings ($454K - $1.3M)
- Hommati Photo & Video ($62K - $84K)
- Board & Brush Creative Studios ($64K - $90K)
- Mighty Dog Roofing ($216K - $313K)
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