The state of the United States economy appears to be positive based on economic trends over the past few years, but growth doesn’t always stay the same. Franchise growth is expected to be the most significant contributor to the economy than all others types of business, according to a report issued by the International Franchise Association. FastSign CEO Catherine Monson from the Washington Post revealed this projection at the State of the Union Preview on January 29th.

There were other key factors worth noting from the speech. Catherine also announced that franchise growth for the year is expected to grow by nearly two percent, 1.9 to be more specific, to a total of 759,000 in 2018. This increase in the number of franchises will spur employment to grow in the industry by 3.7 percent, a number that outpaces employment for other sectors of the economy.

The GDP or gross domestic project is something else worth noting. Franchise growth will contribute to an overall increase in GDP for the United States to $451 billion, an increase of 6.1 percent from the year before. Franchises are expected to contribute three percent, almost half of the total growth of the United States’ GDP, during 2018 due to their rapid expansion.

The output is another thing to look at. The overall output will increase to $757 billion, which is an increase of 6.2 percent for the year. The vast majority of these franchises are restaurants, which make up the largest part of the business in the franchise industry. They are getting more sales and experiencing growth quicker than other types of businesses that contribute to the growth of the GDP.

This trend isn’t something new for the year 2018. Franchise growth occurred in 2017 too. It looks like franchises are going to stay near the top of the list for growth as they expand across all areas of the economy to suit consumers’ tastes and preferences. This trend applies to a variety of franchises ranging from restaurants to cell phone repair franchise.

Potential buyers may decide to buy one, two or more franchises to expand their earning capabilities for the future. The findings referenced above were obtained from the IFA’s 2018 Franchise Business Outlook.