How Franchising is Slated to Grow in 2019



How Franchising is Slated to Grow in 2019

 

Every industry changes and evolves as the seasons change. With new technology comes new options and capabilities. With various holidays come options and shopping patterns, and more. And these are only a few of the daily adjustments that businesses will falter toward. Add in big changes, industry shifts, and more, and there's a list that's practically un-ending that franchisees can look at when planning out their business tactics.

 

Through all of this, franchises in and of themselves also come up with more efficient ways to work. Meanwhile, they are constantly coming up with better data for their target audience and how to reach them.

The better this info can be pinpointed, the more efficiently customers can be worked toward and industries can be updated. In other words, franchises become streamlined over time.

If this sounds like a lot of information, you're right – it is. However, franchisees and business owners don't have to look at these factors willy nilly. They certainly don't have to decipher them for themselves, and instead, they can gather this information with a dedicated approach. By understanding info as they learn, they can gain insights from business data, rather than a headache.

 

This can be done by following trends, looking up expert insights, and following news channels that put this information to good use. Get a jumpstart in 2019 now by understanding how the franchise industry is set to change. And how those changes might affect your business, whether it's well established, or has yet to be up and running.

 

Online and Digital Marketing Will Increase

 

One of the most prevalent predictions for 2019 is the way brands market themselves. With Internet usage continuing to rise – and mobile sales, etc. that's been on a steep incline, this adjustment only makes sense. Stay ahead of the curve by evaluating your own online marketing, looking at how and when you can adjust your own digital presence, and simply be aware of your franchise's presence online. You should also look to your franchise company as a whole to look for recommendations, expectations, and more.

 

Multi-Unit Owners are Taking Over

 

Well, maybe not taking completely over, but they are definitely on the rise. As more and more franchisees are finding success, they're eager to repeat their success by opening multiple locations. This is true of those who own multiple units of a single franchising brand, as well as those who branch out and have their hand in multiple companies. The same goes for single owners and those who invest or partner with others.

 

Brands are Increasing What Works

 

This upcoming year just might be the year of streamlined business. As a whole, companies are looking at cutting excess weight, and with that means evaluating what's driving business, and cutting out what's not. That might mean a difference in what brands offer for consumers, a change in the way service is done, and more. From a business owner's standpoint, it means doing more of what you do best, less of what causes you to struggle, and more dollars for your effort along the way.

 

More Policies and Corporate Jargon

 

Sounds boring, right? And on some level, it might be. But "going corporate" is a great way for franchisees to keep track of employees and how they are performing. It's a better way to work, and it's especially an ideal way for franchise locations to track who does what, and when. This data-driven process could take some getting used to, but ultimately it will protect all involved while providing plenty of feedback when companies want to expand or adjust their key focus.

 

There's much ahead in the year for franchising brands of all industries. Staying up on all of these probably changes and how they will affect your brand is a great way to help your location grow and give it its best chance at growth, in 2019.

 

By Bethaney Wallace | Feb 28, 2019 | General Franchise Information