The U.S. Census Bureau is gearing up for the 2012 Economic Census and one of the topics it will be studying across the nation is franchising. Taking place every five years, the 2007 Economic Census Franchise Report was the first comprehensive and detailed report by the Census Bureau on the franchising segment of the U.S. economy. The study found that franchise business accounted for 10.5 percent of businesses with paid employees in the 295 industries that were surveyed. Of the 4.3 million total establishments surveyed, 453,326 were either a franchisee- or franchisor-owned business. The economic census also revealed that franchise businesses accounted for nearly $1.3 trillion in sales.
New data is set to be collected beginning in October of this year with preliminary reports to be released in Dec. 2013. In the meantime, HVAC contractors are left with a question, the answer to which could significantly change their businesses.