Franchises are not just a staple of American business, they are a major factor in job creation.
According to data business information company Cinch, Florida is seeing an uptick in people starting franchises.
Cinch researchers looked at what drives employment growth at the state level, determined the extent to which franchise employment growth contributes to the overall employment growth of each state, and ranked locations accordingly.
The full report covers 49 states, complete data is available, and includes a detailed breakdown of both the District of Columbia and franchise-specific labor market employment forecasts.
Important findings including Florida data
Franchise employment is growing faster than the national average. Franchise jobs are projected to increase by 4.7% between 2023 and 2025, surpassing the overall employment growth rate of 2.4%. The franchise accounts for 5.8% of total employment and 11% of total employment, adding 402,000 positions, exceeding 9 million workers.
Quick Service Restaurants (QSRs) lead the employment of franchises, but personal services are growing at the fastest rate. QSR franchises will employ more than 4 million workers in 2025, while personal services franchises (fitness centres, salons, childcare, etc.) will grow at 7.8%.
The Southeast has the highest share of franchises’ employment. Nine of the top 10 states with the largest proportion of total employment in franchise businesses are in the southeast, driven by reduced costs and reduced employment regulations.
Franchise employment in Florida is expected to rise by 6.8%. It is projected that 6.4% of the state’s workforce (702,000 workers) will be employed by the franchise in 2025.
Franchise-led employment growth in Florida: Franchise jobs are expected to drive 8.2% of Florida’s total employment growth between 2023 and 2025.
