WASHINGTON, Dec. 20, 2012— A surprising number of franchise and dealership opportunities exist in the remodeling field for those who wish to branch out, augment their business or perhaps specialize in a niche home improvement market.
Franchise businesses will grow at a slightly slower pace in 2013 than in 2012, yet the franchise industry will continue to outpace growth in other business sectors according to an IHS Global Insight report prepared for the International Franchise Association Educational Foundation. Compared to 2012, The Franchise Business Economic Outlook: 2013 forecasts very similar growth rates in new franchise business formation, job creation, output and contributions to U.S. gross domestic product (GDP).
According to the report, the macroeconomic outlook for 2013 is another year of only modest improvement in employment and consumer spending, with overall economic growth held back by slower growth of business investment and a bigger decline in federal government spending. The expected resolution of the fiscal cliff will eliminate some of the uncertainty that has restrained the franchise sector, but it will also bring higher taxes that create a drag on growth. The basic indicators of the health of the franchise sector will show a slight slowdown. Yet the franchise sector will continue to do well within the industries where franchise businesses are concentrated.