UNH Franchise Index Shows Continued Recovery Since Pandemic

The University of NH’s RIFC 50 Index added 4.7% in market value in the first quarter of 2023, signaling a continued recovery of the franchise business sector. The index has now risen 77.1% from its March 2020 level when it was heavily hit because of COVID-19.

“The RIFC 50 Index significantly outperformed the S&P 500 Index over the last three years when the pandemic was widespread, signaling that the franchise business sector may be more resilient than most other sectors of the U.S. economy,” says E. Hachemi Aliouche, director of the Rosenberg International Franchise Center at UNH’s Peter T. Paul College of Business and Economics and the developer of the RIFC 50 Index.

Red Robin Gourmet Burgers was the best performer in the first quarter, jumping almost 160%—a substantial rebound from last year’s 66% drop. F45 Training Holdings, a fitness operator and franchisor, was the worst performer, dropping almost 59%.

The RIFC 50 Index is up 39% and up 92% over the last five years and 10 years respectively, and up 402.1% since its inception in 2000. The RIFC 50 Index is the first stock index to track the financial market performance of the U.S. franchising sector. For more information, visit paulcollege.unh.edu/Rosenberg.