The State of the Franchise Food Service Industry | Franchwire

With all of the doom and gloom about the economy even more so in the forefront now that we?re approaching election time, it?s sometimes tough to find any good news out there when it comes to unemployment, gas prices, or small business growth.? It may not be bad news on all fronts though, particularly if you look toward the restaurant business.?? The recent Jobs Report issued by the U.S. Bureau of Labor Statistics revealed that in August 96,000 jobs were added across the nation and more than 28,000 of those jobs were in the restaurant industry.?

So what does this mean?? For one thing it?s proof that Americans aren?t willing to give up certain luxuries ? namely eating out ? even during tough economic times.? With a great deal of these restaurants also franchises, it?s no surprise that franchising is seeing some positivity as well.? According to a report by the Franchise Business Review recently, based on a survey of more than 4,000 franchisees from 84 different brands, profitability among food?service franchisees is up 5.8 percent year-over-year (15 percent higher than other industries).?

The Franchise Business Review did report one fact that could prove arresting for food service growth, though ? restaurants are still finding it difficult to access capital.? With added jobs and growth comes the need for remodels and expansion, something that is undoubtedly difficult to complete without access to funding.?

On the heels on this report, it seems there?s no better time for franchisees and members of the restaurant industry to explore alternative avenues for financing and specialty lenders.? The Restaurant Finance & Development Conference (RFDC) in November 12-14 at the Bellagio Hotel in Las Vegas could be a great place to start.? FranchWire will be in attendance, joining sessions and live blogging during the duration of the event.? So keep checking back!

How has your franchise fared over the last several months?

Source: http://www.franchwire.com/food-service-industry/

lauren scruggs william shatner seattle weather skier sarah burke gingrich wife cheryl burke sarah burke