As February draws to a close, we at Proven Match are dedicated to keeping you informed about the franchise industry. We intend to use this week’s blog edition to discuss some of the more relevant news and notes from the small business and franchise sectors. In case you need a refresher, here are some trending updates from within our industry:
In the Mood
The International Franchise Association recently wrapped up their 2017 convention and the mood surrounding the industry is quite upbeat. Many brands, lenders, and franchise executives have noted the atmosphere in which a pro-small business administration has reached the highest echelons of our government. Regulations appear to be on target for review and restrictions within the lending market are on standby for relief. And the most recent count of franchise concepts now seems pegged at just under 4,000, with the possibility of surpassing that total in the not-so-distant future.
Persona, or profile, targeting is now a thing. In news which hits Proven Match right down the alley, many franchise brands have revealed that they have up to six or eight different marketing techniques for specific franchise candidates. These techniques rely on a heavy amount of customer research and the outreach is often extremely targeted and specific. It seems brands are getting excited about appealing to specific candidates in both relatable and emotional ways. Told ya’ so!
Save These Dates
Two upcoming franchise industry conferences worth noting are on the horizon:
The 2017 Multi-Unit Franchise Conference kicks off on April 23-26th, slated to occur at Caesar’s Palace in Las Vegas. Now in its 17th consecutive year, this conference focuses on how brands and candidates can grow a franchise empire. This event features two well-known keynote address speakers, Marcus Lemonis (star of CNBC’s The Profit Show) and ex-NFL player, Ronnie Lott, a winner in four Super Bowl appearances.
The 2017 Franchise Consumer Marketing Conference is now on the horizon. If interested, you should be looking into flight and hotel reservations because this event kicks off June 20-21. This annual conference is being held at the Intercontinental Buckhead Hotel in Atlanta and promises to deliver insightful industry trends and commentary. Attendees should be able to glean innovative new tactics to foster brand growth in today’s franchise marketplace.
Lastly, what about the recent chatter surrounding the Dodd-Frank Act? The Trump Administration has signaled its willingness to take on what they perceive as a few of the overregulated aspects of the Dodd-Frank Act, put in place to forestall a repeat of the 2008 financial collapse. Up for specific scrutiny is the Consumer Finance Protection Board (CFPB). Specifically mentioned was a quote about easing up current loan restrictions. Said the President, “We expect to be cutting a lot out of Dodd-Frank because frankly I have so many people, friends of mine, that have nice businesses and they can’t borrow money. They just can’t get any money because the banks just won’t let them borrow because of the rules and regulations in Dodd-Frank.”
That covers our February news round-up, so stay tuned. We intend to make this a regular feature at the close of each month.
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As a franchisor, you’ll want to know which existing and potential franchisees best fit your business concept. Proven Match is the proven solution in determining those factors. Through our proven behavioral assessment techniques, predictive analysis becomes a predictive success for your franchise concept. If you’re ready to show your leadership by getting started, give us a call and we’ll put you on the path to a more productive year in 2017.