TL;DR
The franchising industry is poised for a big year in 2022, with restaurant franchises potentially seeing significant growth due to increased consumer spending. Data from Datassential forecasts $771 billion in restaurant spending in 2022.
For the millions of Americans quitting their jobs in search of a better work-life balance, increased autonomy and greater opportunity, franchises present a compelling option. Some of the benefits of owning a franchise include a built-in customer base, instant brand recognition, no experience necessary to get started and generous franchisor support and training. The franchising industry is poised for a big year in 2022, but there is one sector that is not getting much attention but may have tremendous potential.
Data from Chicago-based market research firm Datassential forecasts that consumers will spend $771 billion in restaurants in 2022 — an increase from the $608 billion spent in 2020 and the $701.4 billion in 2021. This suggests that restaurant franchises could be in store for a big year in 2022.
Many of us grew up near a local bar and grill that was a community staple. Some have exploded into national brands. Others are still small-town haunts that are rapidly expanding. One thing they all have in common is that they represent opportunities for potential franchisees.
Startup Costs: $1,455,000 – $1,757,500
Startup Costs: $1,300,000 to $3,600,000
Startup Costs: $1,280,000–$2,412,000
Startup Costs: $1,200,000–$2,500,000
Startup Costs: $1,145,000 to $3,017,000
Startup Costs: $923,500 to $3,707,333
Startup Costs: $806,825 to $1,288,350
Startup Costs: $780,925 to $1,318,525
Startup Costs: $450,000 to $2,500,000
In this story
This story was originally published in 1851 Franchise on March 17, 2022. Burnaze summarizes and links to the original reporting.
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