We analyzed 5 years of franchise industry data. Here are four major trends you should be aware of.
Our local community links are really important: Businesses frequently have deep roots in the areas they serve, allowing them to respond to community needs more quickly.
A network provides the following benefits: Our meetings went online during the peak of the pandemic, and we handled illness and minimal or no staffing across our network. We also faced supply chain limitations in numerous areas while dealing with an influx of manufacturing requests.
We got more imaginative and creative: Business owners must be problem solvers who are creative. In many respects, they are magicians. Sign manufacturers aren’t normally requested to provide safety equipment for frontline health workers, but our Jacksonville, Fla., franchisee Todd Helfer stepped up and created sneeze guards, face masks, and intubation boxes, which he donated to the Florida Mayo Clinic.
Increased efficiency: Our initial approach to the epidemic had to be largely reactive. However, as we adjusted to the immediate crisis, we noticed a need for tightening all around at FASTSIGNS. We examined costs, staffing, compensation, and pricing.
Finally, American businesses should be proud of our collective resiliency. We recognize that we were not alone in our collective endeavor to join together and work for the greater good, and we recognize that we are not alone in our common sense of what it means to be a community.
The world of franchising is full of numbers. But which figures truly tell the tale? When seeking to buy a franchise, it’s easy to become overwhelmed by information. Simply pick up a company’s franchise disclosure document (FDD) and you’ll see precise analyses of each brand’s health. That is significant information. Examine it carefully!
Veterans in Franchising
Because of their passion, work ethic, skill sets, and aptitude, veterans are well-suited for franchise ownership. VetFran is a program that was established in 1991 to educate franchise companies and veterans about the benefits of franchise ownership. According to their findings, franchisors revealed that an incredible 97% of their seasoned franchisees have shown to be an excellent fit as a franchisee.
If you wish to explore franchising opportunities please follow the link HERE, or if you would like to discuss with one of our specialists to help you make the best choice give us a call at 888-634-6248 or schedule a consultation HERE
