2014 International Franchise Expo Kicks Off In NYC

2014 International Franchise Expo Kicks Off In NYC

Franchises showcase their brands at 23rd Annual International Franchise Expo in NYC. (Image: File)

According to Portesy, “Most of the people walking through these doors have done their research. They’ve gone to the websites, searched through the different portals so they are down here now with a really good idea of what they want. From the 20,000 people coming here from all over a huge percentage of that is going to convert into franchise sales.”

Franchising has been called “one of the fastest growing segments of the global economy.” It continues to experience extraordinary growth worldwide. Thousands of franchise companies offer proven, successful concepts. It caters to the entrepreneurial dreams of hundreds of thousands of prospective franchisees eager to get into business for themselves and not by themselves.

In the United States alone, more than 825,000 franchise establishments support nearly 18 million jobs and $2.1 trillion of economic output.

Many of the 4,000 people showing up from other countries to attend the event, interestingly, didn’t fly down to purchase a single unit.

According to MFV, “They’re coming to find a concept that they can take back home and develop, by buying what’s known as the master license rights. So they become the owner of the rights to that concept in their countries.”

Though restaurants make up the bulk of the brands, a handful of technology franchisers are also showing up this year hoping to make a splash.

For those not interested in buying into a franchise, keep a close eye on brands at the expo that either stand out or have potential for possible stock plays.

The expo wraps on Saturday, June 21.