Black Friday, Small Business Saturday, Cyber Monday – these just-completed back-to-back-to-back retail-oriented holidays have officially kicked off what sales experts refer to as “Selling Season.” And for many franchise owners who traffic in retail product sales, the next month will be among the busiest of the entire calendar year.
Many people are unaware, but might not be surprised to know, that the 10 busiest shopping days of the year all occur in a single 30-day window, from Nov. to Dec. 26. And if the initial reports hold up, the U.S. could be in for a banner year. Inflation-pressure be damned, consumers apparently spent a record $9.12 billion on Black Friday alone – a 2.3% increase from last year. Let’s explore some additional reasons for franchise owners to be cautiously optimistic about finishing the 2022 year in strong fashion.
The Predictions Have Arrived
From analytical sources, both public and private, the holiday shopping forecast appears to be lit up like a Christmas tree. The National Retail Federation has released their projections for the 2022 shopping season, predicting that all sales – online included – will experience a 6-8% jump from last year, topping out between $942 and $960 billion. The leading accounting firm Deloitte paints just as rosy of a picture. They predict a 4-6% jump in retail sales, with the online portion expected to rise 12-14%.
To draw a linear connection to this outlook with franchise owners who specialize in online and retail sales, let’s review some industry statistics that demonstrate the correlation between the two.
Retail Franchisees By the Numbers
According to some of the most recent data and statistics, there are a lot of franchise owners who rely upon retail sales to drive their entrepreneurial ventures. It’s estimated that as much as 40% of all retail sales in the U.S. can be traced back to franchised establishments. The International Franchise Association (IFA) puts the approximate number of retail-based franchises at 166,000 establishments, an industry sector that’s increasing 2.1% annually. Of all franchised establishments, retail-oriented businesses make up one out of every five locations. All combined, it’s expected they’ll generate upwards of $130 billion in sales – a 2.5% increase over 2021.
As FranNet is fond of saying, franchise ownership will change your life. And our no-cost, no-obligation buying process is designed to guide you through the entire process from start to finish. If you decide to put your entrepreneurial dreams in our hands, we can help you navigate your way to business ownership through franchising in just seven calculated steps. From taking an initial quiz to determine your readiness to participate – to searching for the perfect franchise concept that aligns with your lifestyle and income goals, FranNet can be your partner in establishing an entrepreneurial future for you and your loved ones.
We certainly hope that all the holiday sales predictions come true, and that our family of franchise owners will benefit greatly from what appears to be a banner year. If you’ve been harboring thoughts of small business ownership, or even a career transition that would allow you to take charge of your own destiny, we invite you to explore what we have to offer.
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