Economic impact of Franchised Businesses
The economic impact of franchising goes beyond activities inside franchised businesses, because franchises purchase products and services from non-franchise suppliers and their owners and workers spend income earned from franchising on personal purchases. As a result of these spillover effects, in 2007, franchising directly and indirectly accounted for 17.4 million private nonfarm jobs (11.8 percent of all private nonfarm jobs) and $0.7 trillion of private nonfarm payroll (9.7 percent of all private nonfarm payroll), $2.1 trillion of private nonfarm output (9.0 percent of all private nonfarm output), and $1.2 trillion of private nonfarm GDP (9.7 percent of all private nonfarm GDP).
1 in 8 private nonfarm sector jobs is because of franchising
TOTAL CONTRIBUTIONS OF FRANCHISED BUSINESSES TO THE U.S. ECONOMY // 2007
Jobs 17,430,700 Seventeen-Million, Four-Hundred-Thirty-Thousand, Seven-Hundred
Payroll $707,600,000,000.00 Seven-Hundred, Seven-Billion, Six-Hundred-Million Dollars
Output $2,100,000.000,000.00 Two-Trillion, One-Hundred-Billion Dollars
The primary data source for this report is the 2007 Economic Census, published by the U.S. Census Bureau.
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