Small Business Facts & Information

Brief Franchise Facts and Franchising Industry Statistics:

There are an estimated 1,500+ different franchisors (franchise business companies) operating in the United States.
There are believed to be more than 750,000 franchise businesses in the United States.
The franchise industry accounts for over 40% of all retail sales in the United States
The franchising industry and businesses employs over 18 million people in the United States.
In 2004, it is estimated that franchise businesses were responsible for over $1.5 trillion in economic output.
A new franchise business opens every 8 minutes of every business day.
Roughly one out of every 12 businesses in the United States is a franchise business.
Franchise Fact: More than 75 different industries use franchising as a means to distribute goods and services.
The average royalty fees paid by franchisees range from 3% to 6% of monthly gross sales.
Most franchise companies have fewer than 100 units/franchisees.
The average initial franchise investment is $250,000- excluding real estate.
The average length of a franchise contract is 10 years.
Top franchise industry: Fast Food
Top franchise company: McDonalds
Small business franchises are becoming very popular for young entrepreneurs.

Additional interesting statistics and facts about the explosive growth of the women's activewear market and various small business franchise opportunities.

Source: http://www.azfranchises.com/franchisefacts.htm

In Response, 300+ CEO's stated of small and mid-sized companies:

Finding and retaining qualified employees ....................................18%
Increasing revenue/demand/sales ..................................................15%
Growing the business .........................................................................14%
The changing conditions of the economy ........................................10%
Increased costs of materials/health/energy ......................................8%
Development of new products and services .....................................7%
Development of new distribution channels and/or markets ..........6%
Other ........................................................................................................22%

Source: Entrepreneur magazine and PricewaterhouseCoopers' "2006 Entrepreneurial Challenges Survey"

Nearly 7 out of 10 students studying business are interested in owning their own business.
7 in 10 people believe that taking risks is more important to success than avoiding mistakes.
On average, owners of small-businesses work 52 hours per week.
7 out of 10 teens say they would like to start their own business; 1/4 of these say they would like to start a retail business
1 out of 2 of the nation's businesses are operated from home.
Of the top 50 highest growth companies in the Fortune 1000, 98% have mission statements.
3/4 of U.S. adults who go online say the internet has made it easier to start a business.

Source: http://smbtn.com/smallbusinessfacts/