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The franchise industry should be able to find a way to answer five questions about franchising. Whether it’s the IFA, the Census Bureau, an academic institution or another entity, this is fundamental information that ought to be available on a regular basis. Although the U.S. Census Bureau has started to provide some important and useful data pertaining to franchise firms and franchisees it doesn’t go far enough. Since we can’t expect the Census Bureau to configure its reporting to suit a particular industry, I would take the position that this activity is the responsibility of the industry itself. Perhaps statistically sound surveys could be use to provide some of this information.
Have you ever thought about these questions?
This information could be useful for franchisees, franchisors and prospective franchisees. Moreover, it could be useful to grow, improve and further develop franchising as a business model. I’d like the answers to these questions, wouldn’t you?