South Carolina Set to Lead Nation in Franchise Business Expansion by 2025
The latest annual report from the International Franchise Association (IFA) has unveiled promising predictions for South Carolina’s franchise sector in 2025. According to the Franchising Economic Outlook, South Carolina is set to add an impressive 1,205 new franchise businesses, which will subsequently create approximately 32,663 new job opportunities. Furthermore, this expansion is expected to contribute a staggering $19.5 billion to the state’s economy.
The franchise industry in South Carolina is gaining recognition, projected to grow by 7% and reach a total of 18,484 franchise businesses by the beginning of 2026. South Carolina's consistent population increases and business-friendly policies have made it an attractive location for franchise operations. With 215,514 direct jobs anticipated in the sector, the franchise model is becoming a significant engine for local economic growth and community development.
Matt Haller, the President and CEO of IFA, expressed optimism about the franchise sector's resilience, stating, "The resilience of the franchise business model not only helped the sector survive the uncertainty of recent years but thrive in the face of challenging economic conditions." He believes the favorable economic climate and supportive regulatory framework are paving the way for another successful year in franchising.
On a national level, the IFA’s report indicates franchises will experience an overall growth of 2.4% in 2025, surpassing the broader U.S. economic growth rate. It is forecasted that over 20,000 new franchise units will emerge across the country, pushing the total franchise establishments to 851,000. In addition, the franchise sector is expected to contribute over $936.4 billion to the U.S. economy, indicating the robustness of the franchise business model.
Jobs remain a critical focus, with projections suggesting that the franchise sector will add 210,000 new jobs across the nation in 2025, bringing the total franchise employment to more than 9 million. Notably, the categories of personal services and retail food are expected to be the fastest growing, with estimated growth rates of 4.3% and 3.5%, respectively.
The continued success of franchising in South Carolina can be attributed to multiple factors: the cost of living is relatively low compared to other states, and there is a noticeable effort from local governments to support economic ventures. This has made South Carolina an appealing destination for entrepreneurs seeking to invest in franchises and for people looking for new job opportunities.
Darrell Johnson, CEO of FRANdata, remarked, “Even amid concerns about labor requirements, franchising outpaced our projections last year. With inflation easing and interest rates declining, the economic outlook for franchising in 2025 is strong.”
As South Carolina prepares for a surge of new franchise businesses in 2025, potential investors, local leaders, and job seekers alike are poised to benefit from this dynamic growth. The full report by IFA and its analysis of the new landscape for franchising not only informs current trends but also holds potential insights into the future of entrepreneurial opportunities in the state. With significant contributions expected to the economy, the outlook for franchise businesses in South Carolina remains immensely promising.
The Rise of Franchise Business in South Carolina
The franchise industry in South Carolina is gaining recognition, projected to grow by 7% and reach a total of 18,484 franchise businesses by the beginning of 2026. South Carolina's consistent population increases and business-friendly policies have made it an attractive location for franchise operations. With 215,514 direct jobs anticipated in the sector, the franchise model is becoming a significant engine for local economic growth and community development.
Matt Haller, the President and CEO of IFA, expressed optimism about the franchise sector's resilience, stating, "The resilience of the franchise business model not only helped the sector survive the uncertainty of recent years but thrive in the face of challenging economic conditions." He believes the favorable economic climate and supportive regulatory framework are paving the way for another successful year in franchising.
National Growth in the Franchise Sector
On a national level, the IFA’s report indicates franchises will experience an overall growth of 2.4% in 2025, surpassing the broader U.S. economic growth rate. It is forecasted that over 20,000 new franchise units will emerge across the country, pushing the total franchise establishments to 851,000. In addition, the franchise sector is expected to contribute over $936.4 billion to the U.S. economy, indicating the robustness of the franchise business model.
Jobs remain a critical focus, with projections suggesting that the franchise sector will add 210,000 new jobs across the nation in 2025, bringing the total franchise employment to more than 9 million. Notably, the categories of personal services and retail food are expected to be the fastest growing, with estimated growth rates of 4.3% and 3.5%, respectively.
Why South Carolina? Factors of Growth
The continued success of franchising in South Carolina can be attributed to multiple factors: the cost of living is relatively low compared to other states, and there is a noticeable effort from local governments to support economic ventures. This has made South Carolina an appealing destination for entrepreneurs seeking to invest in franchises and for people looking for new job opportunities.
Darrell Johnson, CEO of FRANdata, remarked, “Even amid concerns about labor requirements, franchising outpaced our projections last year. With inflation easing and interest rates declining, the economic outlook for franchising in 2025 is strong.”
Conclusion
As South Carolina prepares for a surge of new franchise businesses in 2025, potential investors, local leaders, and job seekers alike are poised to benefit from this dynamic growth. The full report by IFA and its analysis of the new landscape for franchising not only informs current trends but also holds potential insights into the future of entrepreneurial opportunities in the state. With significant contributions expected to the economy, the outlook for franchise businesses in South Carolina remains immensely promising.
Topics Business Technology）
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