Welcome to BlastPoint’s IFA 2019 Roundtable Roundup – a 5-Part Series!
Startup franchises have a lot to get excited about. From groundbreaking healthcare and fitness services to alternative child enrichment programs to modernized pet care facilities, emerging franchise brands are testing long-established boundaries, changing the way people think about products and services across all aspects of their everyday lives, and generating revenue that’s far exceeding projections.
But on BlastPoint’s recent trip to Las Vegas for the International Franchise Association’s annual convention, we huddled with national and international experts to make sure we have a crystal-clear picture of what, exactly, our franchise customers are grappling within today’s market.
We’re happy to announce there’s good news. Tamra Kennedy, multi-unit franchise owner of Taco John’s, explains: “I expect that we will see more emerging franchisors in 2019 than ever before. With footsteps to follow and access to capital, startups should surge.”
But we also picked up a few friendly words of warning from the experts about what franchisors can expect in the year to come. Because the labor market is generally strong across the U.S., recruiting and retaining qualified talent will persist as critical hurdles. Keeping pace with technology, automating services that used to be delivered by humans, and adjusting to regulatory shifts such as tariffs and rising minimum wage costs will also remain at the forefront of franchisor concerns.
Lucky for emerging brands, like most startup entrepreneurs worth their salt, they’re inherently intuitive, responsive, nimble, and able to pivot swiftly when it comes to shifting consumer trends. And because startup franchises aren’t bogged down by traditional business philosophies, they come to the table willing to think outside the box.
Nevertheless, or perhaps because of their nontraditional approach, a lot of critical questions arose at our IFA Roundtable discussions in Vegas around what to do to boost early sales, which made for some good-natured yet fiery debate.
We homed in on the top five questions emerging franchisors were asking, and being asked, at the convention, and took a deep dive into these big issues to get solid answers. We think this roundup will serve as a guide to help our emerging franchise partners, and others, along the track to success.
Behold: The Top 5 Questions Emerging Franchisors Should be Asking Themselves (If They Want to Boost Sales!):
- Is My Non-Consumer Website Crushing It?
- Am I Making the Most of Customer Referrals?
- Am I Using Item 19 to its Fullest Advantage?
- Am I Adequately Investing in PR?
- Does My Brand Exude a Personal Touch that will Convert Prospects into Sales?
Ready for the answers? Let’s get started!