First Quarter Franchise Growth Outpaces Last Year
FranData a company that provides information about franchising announced today that 2007 began with a lot of new franchises. There were 87 new franchise concepts identified during the 1st Quarter of 2007, which is nearly twice as many as were identified in the same period in 2006. The first quarter report saw new franchises in 57 different sectors - Coffee and Tea, Pizza, and Fitness/Amusement Centers seeing the multiple new brands.
FranData stated in its email “Of the 2,600 franchise brands that we see actively franchising, more than half of them could be characterized as "young" -- that is, franchising for 10 years or less.”
FranData went on to say, “As a supplier trying to market to franchising, this is good news. Younger systems have more needs and fewer preferred vendor relationships already established.”
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