Kern Business Journal August/September 2015

Page 1

KERN Journal Business

Vol. 4, No. 4

A MEMBER O F T HE

TB C M E DIA FAM ILY

The popular Shops at River Walk Page 8

August/ September 2015

Retail and Franchising Issue

Cover story

Franchises: Demand grows, but so do challenges By Dianne Hardisty

F

ranchise ownership is increasing in popularity, especially among members of minority communities seeking entrance into the world of entrepreneurship and retirees, who are looking for income and creative outlets to fill their “golden years.” According to an annual report by the International Franchise Association and IHS Economics, for the fourth consecutive year, franchise businesses in 2015 are expected to grow and create more jobs at a faster pace than the rest of the economy. Nationwide, franchise businesses are expected to add 247,000 new direct jobs this year, a 2.9 percent increase in the number of jobs added in 2014. The number of franchise establishments is expected to grow this year by 12,111, or 1.6 percent, to 781,794. “The outlook for growth among the different types of franchises will differ, with quick service restaurants ranking first and retail businesses ranking PHOTO BY FELIX ADAMO

Continued on page 9

Grand Island Village features a selection of businesses.

Top Ranked Bank in California* Member FDIC *Bank Director Magazine, 2014. Among Banks with $5 Billion to $50 Billion in Assets. CVB Financial Corp. is the holding company for Citizens Business Bank.

Kern Business Journal P.O. Bin 440 Bakersfield, CA 93302

Presorted Standard U.S. Postage PAID Bakersfield, CA Permit No. 838

www.cbbank.com

For more see page 28

INSIDE

Find out what restaurants are coming to Bakersfield. Page 16

Help find more customers with the handy tools found on this website. Page 19


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