Franchise Trends That Grew in 2015
Over time, businesses must adapt in order to stay relevant, and in order to stay profitable. Technology was a huge trend and upgrade for companies in recent times, including online sales, doing away with traditional catalogs, and more. But it's not always existing businesses that have to change to stay successful. Other times it's how entire business plans are made, or how a new change can improve upon their predecessors. In 2015, there were a number of adjustments that, for the better, switched up how franchising was done.
Take a look at these big changes and how they've changed the game for future franchisees and pointed them toward success.
Restaurants and Calorie Counters
Making it easy for folks to stick to a diet, restaurant chains have begun putting calorie counts (and other nutrition information) on all of their dishes. It's been a way for companies to establish better trust. After all, consumers are more likely to buy from those who they can understand or evaluate, and this trend has created a clear-cut path when taking foods from the fridge to their customers' plates.
With the Internet, there's no doubt that there's a wealth of available information. How franchisees are using that data, however, ranges across the board. It's used for marketing, target research, price points, locations or events, and more. The point is that the data is being documented and recorded for future use, and folks are all-the-more aware of keeping track of these stats.
It takes a crowd – that's the new trend when it comes to investing, and all types of companies have used it as their go-to tactic. By asking for a little bit of money from a lot of people, business owners are able to fund their ventures without creating stakes that are too high for what might otherwise be considered a risky investment. Aside from just professional interests, crowdfunding has also been used to pay for employee scholarships, to help customers in need, and more.
Staying User Friendly
Whether virtual or a brick and mortar establishment, franchisees are doing their best to stay up to date on what they have to offer customers. That includes staying on social media, taking online service calls, updating an app, offering phone charging stations, and more.
Another trend that's been growing is recent years is business owners' willingness to branch out. They're incorporating new-age trends in order to set themselves apart from the competition, whether that be at the owner level or through corporate. Either way, folks are looking for a way to make their business unique, and to offer services others won't provide.
Virtual or Traveling Businesses
When expenses like location and office utilities can be cut out, new-age companies are doing away with them to spend as little as possible on overhead. And it's working. Working out of home offices and company vehicles, franchisees of all styles have been able to make a solid go by not having a separate office. Though not every platform allows for this type of virtual setup, those that can eliminate some serious out-of-pocket expenses. Heavy hitters include food trucks, carpet cleaners, delivery bouncy houses or other portable kids' activities.
Classes and Goods Packages
One more successful trend has come with sharing one's expertise. Franchise owners are not only selling a product (or providing a service), they're also holding sessions so others can help themselves. It's a step that allows for profit in a short amount of time, while also teaching them to share their business, for instance, a class on DIY cleaning products, how to dress for a business trip (and then pack it all), kid parties or activities, and more. It's a comprehensive step that serves as a big money maker, as well as an added customer perk.
These and other trends have been able to show value within the franchising world. Consider how new methods have been able to see growth, and how using similar methods can help franchises
of all styles expand and grow.