Latest News- Franchise Market: Business format franchise is expected to lead the Type segment during 2025-2029

The Franchise Market is being driven by Rise in number of restaurants and hotels worldwide

The Franchise Market is expected to grow at a CAGR of 10.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2240 million. In the evolving retail landscape, digitalization has become a key driver for enhancing customer experience in brick-and-mortar stores. Supermarket and hypermarket chains face intense competition from e-commerce giants like Amazon, which provide the convenience of subscription models for frequent purchases. However, franchises can leverage this trend by integrating technology into their in-store offerings. Innovative concepts, such as mobile applications, enable customers to easily locate desired items and complement their daily needs with premium purchases. Franchisees are harnessing this potential to create personalized shopping experiences and maintain a competitive edge in the market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Business format franchise
  • Product distribution franchise
  • Management franchise
  • Others
• Application
  • Hotels
  • Convenience stores
  • Real estate
  • Car rental and dealers
  • Others
• End-use Industry
  • Food and Beverage
  • Health and Wellness
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Egypt

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in number of restaurants and hotels worldwide
• Growing demand for convenient food products
• Increasing construction activities

However, the market also witnesses some limitations, which are as follows:

• High pressure to maintain brand consistency and quality
• Threat from counterfeit products
• Issues related to logistics and supply chain operations

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Market Scope in Franchise Market Research Report

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Research Analysis Overview

In the franchise market, compliance with disclosure requirements is crucial. The onboarding process for new franchisees includes training and support. Ongoing assistance ensures brand guideline adherence and marketing campaign performance. Effective operations manuals, territorial protection, and financial reviews are essential. Franchise network management and customer relationship management are key. Training effectiveness, operational cost optimization, and sales growth strategies boost franchisee success. Customer loyalty programs, employee retention, and supply chain optimization enhance business performance. Risk mitigation, quality control, financial reporting accuracy, and business model innovation are critical elements. Franchisee satisfaction surveys, market share increase, brand equity building, franchise value creation, strategic planning, agreement negotiation, performance metrics, business continuity planning, and franchisee feedback all contribute to a thriving franchise system.

Market Research Overview

The global diversified support services market encompasses businesses offering labor-intensive services to corporations and governments. This sector comprises companies providing commercial cleaning, dining and catering, equipment repair, industrial maintenance, auctioneering, storage and warehousing, transaction services, uniform rental, and other business support solutions. According to Technavio, market size is determined by the consolidated revenue of enterprises supplying commercial printing, environmental and facilities, office services and supplies, security and alarm, and diversified support services. Market expansion will be fueled by the growing outsourcing trend for support functions, enabling businesses to focus on their core competencies. Franchise opportunities within this sector offer royalty fees structures, defined franchise agreement terms, substantial initial franchise investments, streamlined renewal processes, and robust franchisee support systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/