Franchise Industry News

Franchising in Business – January 2021

Despite the uncertainty of 2020, the world of franchising is expected to flourish in 2021. Franchise expert Derek Cafferata shares his top 3 reasons why franchising is looking so promising for 2021. Having begun last year with the outbreak of COVID-19 and learning to live with a new kind of normal, and ending the year with a tumultuous presidential election, many people are hesitant for what this new year will bring. However, when looking at the business world, there is a positive outlook for the world of franchising. Franchising expert Derek Cafferata, CEO and President of All State Franchise Finders (ASFF), shares three reasons why franchising will flourish in 2021. Flexibility in the Way Business is Done We can thank 2020 for teaching so many of us that business can continue, just in a different way. Working from home, Zoom meetings with colleagues and customers, online ordering and the ease...

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The Importance of Franchise Associations in Today’s Business World

Franchise expert Derek Cafferata shares 3 reasons why franchise associations are important in today’s franchising business world. Franchise associations are there to facilitate and build a stronger, more effective business relationship between franchisor and franchisee. Any good franchise business will understand the importance of having its franchisees being a part of a franchise association and encourage membership. And any franchisee looking at buying into a franchise should look for one that has a strong relationship with a franchise association. According to Derek Cafferata, CEO and President of franchising experts All State Franchise Finders (ASFF), there are three main benefits to aligning with a franchise association. A Collective Voice For a single franchisee, having any input or influence in any aspect of the franchise as a whole can be quite difficult, especially within larger national or international franchise businesses. “This is where a franchise association comes into play,” says Derek. “A...

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The Franchisee-Franchisor Relationship and Why it is so Important

Establishing a strong, healthy franchisee-franchisor relationship is one of the most important keys to the success of both parties. Franchise Expert Derek Cafferata shares his thoughts on this key relationship. A franchise business, where the franchisor seeks out suitable people to help expand the brand by granting a franchisee the rights to open the business and establish in a new location, is one of the most common business models in the United States. Thousands of franchise opportunities are available, with the potential for financial and career reward. But they do not guarantee business success. Not all are a good buy and not all will be the right fit for you. Which is where franchising expert, Derek Cafferata, has been able to help a vast number of budding entrepreneurs make their dream of owning their own franchise a reality. As President and CEO of All State Franchise Finders, Derek brings with...

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Technology and How it is Improving Franchising

Technology is streamlining systems, reducing costs and helping attract more customers for small businesses. And some of the best franchises are getting on board in a big way. Using technology in business is essential for business growth and development, keeping ahead of the competition and increasing profits. Some of the best franchise opportunities around have understood this in exactly the right way and their franchisees are reaping the rewards. So, how can technology be used to improve business and increase profits? Here are just three different ways. Personalizing Loyalty Programs We all know some businesses offer more attractive loyalty programs than others, but what is really on trend is utilizing technology, particularly artificial intelligence, to track individual buyer likes and dislikes, purchase types, as well as frequency and amount of purchases made. As this information is collected, smart loyalty programs can be tailored to suit individual customers, making for a...

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Why Own a Franchise Business?

Franchise expert Derek Cafferata shares why owning a franchise business is the ideal way to be your own boss. The thought of being your own boss and running your own business is an attractive option for many people, especially in today’s economic climate. However, starting a business from scratch and financing, setting up, developing and managing every area of business is a daunting task. Which is why many entrepreneurs turn to franchising to make the dream of becoming a business owner a reality. So, what benefits are there to owning a franchise business over creating a start-up? According to Derek Cafferata, there are three major advantages to owning a franchise business. Strong Branding “A good franchise comes with a well-known and respected name,” says Derek Cafferata, CEO and President of franchising experts All State Franchise Finders. “Usually nation-wide, this type of brand recognition only comes with a huge amount of...

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Digital Advertising for a Successful Franchise Business

Whether you’re a small business reaching a local market or a large business trying for an international reach, digital advertising is here and it is the key to business success. Digital advertising has been around since the mid-1990s, albeit on a relatively small scale and only used by big business. With the introduction of Google Ads in the early 2000’s and Facebook in 2007, digital advertising was made accessible to small and medium businesses across the globe. While many businesses have taken a long time to pick up on the idea of digital advertising to develop a successful business, digital advertising in today’s market is an absolute necessity for any business within any industry. “Digital advertising has far too many advantages for any business owner to ignore,” says Derek Cafferata, CEO and President of franchising experts All State Franchise Finders. “If you are trying to sell something, no matter what...

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The Importance of Royalties for a Successful Franchise Business

Royalties should never discourage you from getting into franchising. Derek Cafferata explains the importance of royalties for a successful franchise business. What are Royalty Fees? Royalty fees are paid by a franchisee to the franchisor to the continuous use of the franchise brand and business model. This fee is usually paid regularly on a monthly basis for as long as the franchisee is in business. The royalty fee a franchisee pays to the franchisor benefits both parties involved. For the franchisor, the royalty fee enables success of the overall brand, something each franchisee reaps the benefit of. A successful franchisor makes for successful franchisees, and successful franchisees make for a successful franchisor. “The relationship between franchisee and franchisor should always be mutually beneficial in order to create and foster a successful business relationship,” says Derek Cafferata, CEO and President of All State Franchise Finders, one of the country’s leading franchise...

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Women Make for Powerful Business Owners

The number of women in business is on the rise and the unique traits of women make for very powerful business owners. The future of business lies with confidently with female entrepreneurs. Women in Business Statistics from a study by JPMorgan Chase and Co. show that 36 percent of small businesses throughout the United States are owned by women, a figure that has continued to steadily grow each year over the past 5 decades. In the world of franchising, approximately 27 percent of franchise businesses are owned by women.   Between 2007 and 2018, female-owned businesses grew 58 percent, with these companies generating more than $3 trillion in annual revenue.   When compared to the average small business owner, female business owners in the U.S. are more likely to be younger, aged between 40 to 55 years of age, with 50 percent of female entrepreneurs in the Generation X demographic...

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Black Lives Matter – Empowerment through Business Ownership

With momentum gaining through the Black Lives Matter movement, franchising is helping to empower minority groups through business ownership. Diversity in Business According to the latest Census, there are approximately 2.6 million black-owned businesses in the United States, an increase of more than 34 percent since 2007. Numerous Government initiatives, tax reforms and economic growth over the last few years has helped fuel this increase, along with the push in society for increased diversity and inclusivity in business.   Research carried out by Guidant Financial found some very positive and exciting statistics on African-American businesses across the country. Of the more than 3,000 black business owners who took part in the research, 49 percent considered themselves to be “very happy” in business, while 72 percent said that their businesses were currently profitable.   One-third of those who took part in the research declared they were “very confident” about small business...

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Senior Franchise Opportunities – The Need for At Home Care

An ever-increasing ageing population means there is a greater need for at-home care services. And franchising is stepping in to fill the demand. Ageing Population Fuelling Need for At-Home Care As the huge baby boomer population ages, the demand for aged care services is continually increasing. The majority of baby boomers, generally defined as those born between 1946 and 1964, are now into their 60s and 70s and well within the retirement age bracket. With the number of retirees expected to reach more than 54 million over the next few years, this age group is predicted to make up around 20 percent of the entire U.S. population, the single largest age demographic in the United States.   “Never before have we seen a need for aged care service like we are experiencing now,” says Derek Cafferata, CEO and President of franchise experts All State Franchise Finders. “And the only realistic...

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Veteran Franchise Opportunities – Why Companies Want You!

Leadership skills, determination & drive are skills veterans bring to the business world. Franchise expert Derek Cafferata explains why franchises are keen to recruit veterans. Why Veterans Make Great Franchisees Some of the most beneficial skills veterans learn is to both lead and follow. Each soldier understands the importance of hierarchy and following orders. Without the ability to follow orders, one solider may put an entire squad at risk. Veterans understand the importance of how following orders strengthens and unifies a team.   At the same time, veterans are taught valuable leadership skills. Each soldier holds some responsibility within their squad, where he or she learns to manage people and situations. As veterans progress through the ranks, they take on greater responsibility and gain more leadership skills.   It is this ability and understanding to both lead and follow that makes veterans ideal candidates for franchising.   “A franchisee needs...

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Gen Z Entrepreneurs Taking Educated Business Risks

The most entrepreneurial of any generation, Gen Z is confident, driven and adaptable. They aren’t just looking for business opportunities, they are creating them. Generation Z is those born between the mid-1990s and 2010 and are the next generation after Millennials. Often referred to as Gen Z, this generation was born into the digital age. They are familiar with computers, smartphones, social media and mobile digital devices. Much research around this generation shows that Generation Z is the most entrepreneurial of any previous generation. New Business the Norm Among Gen Z Starting their own business is something that most of the Gen Z population consider as a very reasonable and feasible career path. With this generation, working for a corporate as an employee is not the norm. “We saw this mindset with Generation Y,” says Derek Cafferata, CEO and President of franchise experts All State Franchisers. “But Gen Z’ers are...

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Franchise Resales: Benefits of Existing Franchises

When weighing up a new or existing franchise purchase, consider history, management and goodwill. Franchise expert Derek Cafferata shares his thoughts on franchise purchases. Sales and Profit History One of the greatest benefits of buying an existing franchise is the ability to see accurate sales and profit history on the business. There is no guessing how successfully, or unsuccessfully, the business has been performing. “The ability to analyse sales and profit history on a business offers a potential buyer peace of mind,” says Derek Cafferata, CEO and President of All State Franchise Finders. “Knowing the financial history of a business helps to predict its potential future.” An existing franchise also gives room for some possible negotiation on price. With a new franchise, purchase costs, setup fees and franchise fees are relatively set, with little room to move on price. The ability to analyze business performance may open up room for...

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Inclusion and Diversity in Business: A Recipe for Success

Inclusion & diversity are not just feel-good marketing terms. Diversity businesses are on the rise & every business owner should understand the power behind diversity in business. Importance of Values in Business Values define what is important to us and how important they are. They help to guide and determine our actions and attitudes in order to outwork those values into our lives.   In business, values play a vital role. They are more than just a list of ideals. A company’s values will define everyday business interactions and transactions, moulding and shaping the company’s structure, culture, drive and reputation.   Setting the core values for a company will help clarify what that company believes to be important and this will influence how the company is governed, developed and managed.   According to Derek Cafferata, CEO and President of franchise experts All State Franchise Finders, core values need to be...

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Want to Work from Home? Start a Business

Home-based franchises continue to grow in popularity because of their practicality, accessibility and affordability. Franchise expert Derek Cafferata shares about working from home. The Rise of Home-Based and Mobile Businesses Working from home is more common than you may think. According to the Small Business Administration (SBA), approximately 50 percent of all businesses are home-based. A home-based business is one that can be operated and administered from home. There is no need for a store front or commercial space in order for the business to function. Generally, home-based businesses are relatively small and have few or no employees. However, this is not always the case. Some work-from-home businesses are solely run from home, with no need for the business owner to venture away from the home office, such as Internet-based businesses. Others may involve providing services to customers or completing business activities outside the home office, but the administration of...

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