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 rapidly evolving retail landscape, digitalization has become a crucial factor for in-store franchises to remain competitive. Supermarket and hypermarket chains face intense competition from e-commerce giants like Amazon, which offer subscription models for repeat purchases. However, franchises can leverage this trend by implementing in-store innovation, such as mobile applications, to enhance the shopping experience. These tools enable customers to easily locate desired items, facilitating personalized and efficient browsing. By incorporating technology into brick-and-mortar stores, franchises can attract and retain customers, ensuring long-term success 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
  • Middle East and Africa

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

The franchise market encompasses the franchise model, which allows businesses to expand by replicating a proven concept through franchise units. The franchise system includes a franchise development team, operations team, support team, marketing team, and a franchisee portal, resource center, and network forum. Franchisees invest in the brand, aiming for high success and retention rates, while managing turnover and profitability. Training, mentorship, and satisfaction surveys ensure brand standards, operational procedures, quality control, and customer experience are maintained. Compliance with industry regulations, franchise laws, and ethical practices sustains the franchise's competitive advantage, business innovation, and brand reputation.

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 generated by enterprises in commercial printing, environmental and facilities services, office services and supplies, security and alarm services, and diversified support services. Market expansion will be fueled by the rising outsourcing trend, where businesses delegate support functions to specialized providers. Franchise fees, royalty payments, franchise agreements, franchise disclosure documents, franchise development, franchise operations, and franchise training are integral components of the franchising model within the diversified support services sector.. 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/