Predicting of the performance of franchise industry using Grey models - case study in United States

Abstract

Along with the globalization of business, the opportunities and challenges in franchise business are increased. In order to ensure that the franchise industry grows stably, it has been always an important topic to forecast the franchise performance accurately. Thus, this study aims at utilizing Grey prediction as an analyze methodology to estimate the performance of US's franchise industry in order to understand the growth of the franchise industry in the near future The result revealed, the performance of US's franchise section will increase significantly year-on-year. Among that, revenue of business services franchises will be expected to reach 1,177 billion dollars in 2021. In addition, round of 817,986 franchise establishments will be expected to operate which will attract about 10 million employees in the franchise sector in 2021. This research can help investors to have a good overview of the franchise business in US in particular and in the global market in general.