At Benjamin Franklin Plumbing, we pride ourselves on the fact that many of our franchises remain active in their communities and committed to helping those in need. We’ve had franchises sponsor college scholarships for students, collect holiday gifts for children through the Toys for Tots program, and raise money for nonprofit organizations including the Susan G. Komen foundation.
Franchising is by far one of the greatest industries to work in and we are fortunate to be able to serve so many diverse groups. Managing and balancing the needs of three important customer groups requires strong planning, management, and measurement to be successful. Let us dive into these three groups to get a better understanding and chart a course for customer satisfaction for each group.
The International Franchise Association (IFA) today released its 2022 Franchising Economic Outlook showing that franchising is leading the economic recovery in the United States. The report highlights exceptional 2021 job and business growth across all franchising sectors, ranging from personal services to lodging. The data indicates 2022 will be another strong year for job and wage growth in the dynamic, local-focused franchising industry.
Across every sector, franchises were a significant engine powering the 2021 economic recovery. This year, we forecast that the local businesses behind recognized brands will continue to expand—unless a more consequential threat than COVID-19 materializes in the form of policies that undercut the franchise business model. Wherever they spring up, these proposals should be rejected and reversed so franchises can continue providing opportunity to Americans on every rung of the economic ladder.
Franchising had an exceptional year in 2021, and 2022 looks to be another strong year of recovery. Bolstered by both the strengthening labor market and steady consumer spending, franchising is expected to continue to expand, trending upwards with the United States’ overall economic progression, but the pace of the growth in 2022 is most likely to moderate, due to the current headwinds in the economy.
From generating a buzz about your local business to gaining the trust of your target market, good reviews can take your franchise reputation management efforts to the next level. They can also be great at generating conversion and revenue when handled the right way.
The International Franchise Association (IFA) today released the following statement in response to the Federal Trade Commission (FTC)’s legal actions against BurgerIM for numerous violations of the Franchise Rule.
Last week the International Franchise Association and Franchise Update Media announced a landmark, 10-year partnership to deliver value, learning and two new franchising events in 2022 and beyond. This partnership accelerates International Franchise Association engagement with members as well as a broader cross section of the global franchising community.
Offices need cleaning, and those fortunate enough to have owned a commercial cleaning business over the past two years have experienced unprecedented growth and financial stability. For some people, starting a business or becoming an entrepreneur has shifted from wish to necessity. For others, the trials and tribulations of this year have been enlightening and shown them that there is a better, stronger, and smarter career path available.
The International Franchise Association (IFA) today announced the election of ten new franchise professionals to serve on its Board of Directors. The new directors represent both franchisees and franchisors from a variety of industries and roles across the business model, adding a wealth of experience to the recently expanded IFA Board. The new directors will take their positions today, Feb. 1, 2022.