The franchise industry has gotten more good news

Despite worries of an economic downturn, one sector is poised for another year of solid growth in 2016, according to one study.

Bolstered by trends including acceleration in business spending, the franchise industry is set to grow by 1.7 percent in 2016, according to the study by the International Franchise Association. The annual outlook follows a stronger-than-expected 2015, which saw an estimated 1.7 percent growth, according to the association’s Franchise Business Economic Outlook for 2016 that was prepared by IHS Economics.

The 1.7 percent growth forecast for this year will bring the total number of U.S. franchises to 795,932.

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