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If all goes as planned, Salt Lake City will get a taste of Teriyaki Madness by the end of 2012.
2012 forecast for franchises in U.S.
1.9 percent growth in establishments » 13,928 new sites
2.1 percent growth in employment » 168,000 new jobs
5 percent growth in economic output » $37 billion increase
4.8 percent gross domestic product growth » $21 billion increase
Source: 2012 Franchise Business Economic Outlook, compiled by IHS Global Insight
What is a franchise?
An agreement or license between two legally independent parties that gives …
1) a person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchisor)
2) the franchisee the right to market a product or service using the franchisor’s operating methods
3) the franchisee the obligation to pay the franchisor fees for these rights
4) the franchisor the obligation to provide rights and support to franchisees
Source: International Franchise Association
How to get started
Franchising facts from the International Franchise Association » www.franchise.org/franchises.aspx
U.S. Small Business Administration assistance » tinyurl.com/sbafranchiseinfo
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