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Why Attend the Emerging Franchisor Conference?
Shana Krisan, Chief Marketing Officer, Goldfish Swim School
Franchises are struggling as the U.S. economy plummets more and more what seems like every day. Inflation is hitting consumers’ bank accounts hard and slowing spending. And if that’s not enough, Bloomberg Economics and many other experts are predicting there’s at least a 75% probability of a recession that might prove to be an even longer haul than anyone is anticipating.
New opportunities are like buses; you wait ages for one, then three come along at once. But what does that mean for your franchise business?
FAN/Leadership Summit Wrap-Up Blog Post
Check out how Sky Zone franchises continue to grow.
Quality over quantity – that’s the fundamental change to Google’s new update. Here’s what you should know when creating content for your website.
This September, The Federal Reserve announced they’d attempt to tame the highest inflation we’ve seen in 40 years by raising interest rates three-quarters of a percentage point. This can lead to higher prices, wage hikes, and lost jobs. Franchise professionals have already been feeling the effects of inflation. A recent IFA/Frandata inflation study found rising prices have had moderate to significant impacts on 90% of franchise businesses surveyed. Additionally, California’s FAST Act is a concern. The Fast Food and Accountability and Standards Recovery Act was signed into California state law on September 5, with a planned 2024 implementation. This legislation could dramatically increase operating costs and force consumer price hikes.
If you’re looking to start or scale a business, it’s important to have ample funding. Leveraging your 401(k), IRA, or other retirement funds to start or scale a business is a valuable way to use your existing resources without saddling your venture with debt. But there are important do’s and don’ts to this common business practice known as ROBS (Rollovers as Business Startups) business funding. What are they? How can you follow the rules while still reaping all the benefits of ROBS plans?