International Franchising Takes Center Stage at IFA 2019

For one week every year, the franchise industry’s biggest players gather in the desert to discuss all things current and future in the world of franchising. At IFA 2019, one key theme and a central topic of discussion is international franchising, according to a recent Forbes article.

According to the article, the convention’s multi-topic summits will tackle international franchising through the lens of market selection, development methods, and setting international fees to new data privacy regulations and infrastructure and technology.

One IFA panel in particular, on which the author of the Forbes article, Joyce Mazero, will be speaking on, covers four key areas franchisors must devote particular time and effort to investigating when exploring international franchising: target market and business environment, budgeting for international business, international franchising due diligence and typical negotiated terms.

As businesses explore entering international markets, they must understand that one size doesn’t fit all, Mazero writes. Franchisors must approach international franchising with a detailed plan, armed with ample knowledge of particular market factors, differing costs and legal requirements, and finally, a strong franchise partner.