In his new monthly column, Ryan Bernal gives us the inside track on franchise expansion news, deals and other hot topics
- The largest franchisee of Burger King lost an estimated $8m on an error. CEO Dan Accordino of Carrols Restaurant Group attributes the loss to a mistake. That’s one expensive mistake, and it certainly cost the franchisor and the franchisee.
- Franchisors.com hosted the inaugural YoungConference in Florida. Franchise YoungConference is a place for the young (and young-minded) innovators in franchising to gather and share their knowledge and strategies to navigate the ever-increasingly digital realm. A change from the all-to-familiar conference scene, YoungConference focuses on appealing to the incoming generation of the franchise space. Are you young enough to be there next year? Check out franchiseyoungconference.com.
- Rumor has it Snowflake Luxury Gelato will break into the U.S. franchise market soon. The U.K.-based franchise is currently selling luxury gelato through franchisees throughout Europe. They’re ready to share their luxury gelato with the U.S. Check out snowflakegelato.co.uk for more info.
- Australia-based franchise Motiv8Sports has now reached 25 locations and positively impacted over 250,000 kids and teens. The sports are street, surf, and skate-influenced and make for a great appeal to kids and parents alike. Knowing that not all kids love traditional sports, Motiv8Sports makes room for everyone else to find the athlete within while still having a great time. Check out motiv8sports.com.au
- Chick-fil-A received free publicity in rapper Kanye West’s latest album. The song titled, “Closed on Sunday”, has the words “Closed on Sunday, you my Chick-fil-A…”. Find the song online now or read the fiery and controversial tweets on Twitter. The Chick-fil-A franchise stated that they are always excited when someone finds excitement in their brand.
- McDonald’s (now former) CEO, Steve Easterbrook, was fired for a breach in company policy by having a consensual relationship with an employee. Though somewhat controversial, policies are meant to be adhered to and good leadership should be the first to set the examples.
- Mirror, the workout in a mirror (literally), Peloton, the spin studio in your living room, and other at-home workout opportunities have entered the fitness market with a bang. While fitness franchises have been doing well, selling multiple units, and driving membership revenue, with new stay-at-home fitness models, is there going to be a shift in the fitness industry and fitness franchises? Can current fitness franchise models pivot enough to continue with the latest and greatest fitness models? Are potential fitness franchisees aware of the changes in the fitness market? Historically, fitness franchises have succeeded by delivering results, but if newer at-home technology can deliver results, what can a fitness franchise offer that an at-home solution can’t? The social aspect, yes, but the social needs can be met in other ways than working out in a group setting. Accountability, yes, but there are now online memberships that partner people together and artificial intelligence to keep you on track. What do you think will happen in the coming years for fitness franchises and franchisees?
ABOUT THE AUTHOR
Ryan Bernal is co-founder of LAR Enterprise, an agency focused on helping businesses succeed. He has a passion for entrepreneurship, the franchise business model, and success. Contact Ryan via email: ryan@larenterprise.com
