Franchising – is it an industry in itself or a mere marketing system? In the initial days when franchising was fairly nascent, it could be fair to say it was just a marketing system. However, in today’s business climate, franchising has evolved as a complete industry with all the trappings of any industrial vertical. It would be more apt to say franchising is a bit of both – both a marketing system and an industry.

Industry statistics will quickly tell you that there are over 1500 franchisors in the U.S. as of today with approximately 750000 franchise businesses operational in the U.S. In the U.S. alone there are more than 18 million employed in the franchising industry. The franchise industry comprises approximately 40% of retail sales in U.S.

Consider this - every 8 minutes of each business day, a new franchise business is being set up. Not just that, one out of every 12 businesses in the U.S. is a franchise business. With more than 75 industries who use franchise as a marketing medium and an average franchise contract term of 10 years, it is clear franchising is here to stay.

Why are we dwelling on statistics? Because they illustrate the magnitude of this flourishing industry. With statistics on the rise and an ever growing group of entrepreneurs, franchising seems to be the best bet for start ups. All research documents on entrepreneurship point to the fact that day by day more people are choosing to start their own business and give up their 9 to 5 jobs.

Franchising can work out to be a great marketing tool to further your business, as millions of franchisees will testify. It can provide you with complete control over your business, along with the added assurance of knowing you have the backing of an established franchisor behind you