Franchises to grow in 2012

WASHINGTON, Dec. 20 (UPI) -- Jobs at U.S. franchise stores and restaurants are expected to grow by 2.1 percent in 2012, a trade group said.

The Intentional Franchise Association projected franchise firms would have a collective 8.1 million on their payrolls next year, the Los Angeles Times reported Tuesday.

Revenue at franchise businesses is expected to grow 5 percent in 2012, while the number of franchise outlets is projected to grow 1.9 percent to 748,500.

The trade group said 80 percent of franchise owners indicated tight credit requirements at U.S. banks have slowed their ability to expand.