the 8 october 19 2019

The International Franchise Association debunks myths surrounding franchising and encourages industry members to continue debunking misconceptions.

Read the original at 1851 Franchise
the 8 october 19 2019

TL;DR

The International Franchise Association is working to debunk myths surrounding franchising, and industry members are encouraged to continue doing so. Franchisees and franchisors are leveraging various strategies, including marketing and data analysis, to grow their businesses.

1. Frantastic: Franchising is a Frantastic industry to be a part of, but there are a lot of myths that surround it. That’s why we spoke with Stephen Worley, Senior Director of Communications for the International Franchise Association, to debunk those myths. The most common misconception, Worley explains, is that franchise locations are run by a faraway CEO. The reality is that franchisees are often local to their communities. Check out the full article on 1851 to learn more about what members of the industry can be doing to continue debunking these myths.

2. Franlebrity: This week’s Franlebrity is Danavan Hylton, CEO of the Hylton Elite Marketing Agency. We spoke with him to learn more about grassroots marketing, which is what his agency specializes in. Danavan told 1851 that it’s critical for franchisees to be proactive in marketing their businesses. He said, “It’s either eat or be eaten,” he said. “If you have doubts or fears, then you shouldn’t be an entrepreneur because entrepreneurship is a risk all the way around.”

3. Frash Money: With the World Series set to begin next week, brands are figuring out a way to make Frash Money off of it. Taco Bell is one franchisor that’s making the most of the sporting event — it’s bringing back its “Steal a Base, Steal a Taco” promotion, in which everyone across the country received one free Doritos Locos Taco after the first base is stolen. Taco Bell is also teaming up with MLB trading card company Topps to create exclusive “Taco Heroes” cards that feature players who have stolen the first base in previous years.

4. Frant of the Week: It’s no secret that in today’s world, accessibility to data is the highest it’s ever been. However, as No Limit Agency* CEO Nick Powills points out in his latest Frant, it’s up to franchisors and franchisees to use it. One way to leverage data that’s especially valuable to franchisors comes from the U.S. Census — Powills explains that this data can help brands identify ideal growth markets. To learn how, head to 1851.

5. Franch Forward: It’s been a few weeks since we talked about Papa John’s, so you know we had to bring it back. The brand is Franching Forward with a new Executive Vice President and Chief Operating and Growth Officer. Those roles are being taken over by Mike Nettles, who previously worked for Papa John’s as Senior Vice President, Chief Information and Digital Officer. The promotion comes as the pizza brand continues to distance itself from founder John Schnatter.

7. Franspiration: “I can get away from being Bo Jackson the athlete, Bo Jackson the businessman once I leave this building. Once I leave this building, I leave this building. I never take it home. I did the same in the sports world.” - Bo Jackson on how he separates being a celebrity with his “normal” life.

8. Franemies vs. Frands: Are your friends and family your Frands or Franemies in business? It can be hard to tell when you work together. There are definite advantages and disadvantages when it comes to working with loved ones, and at times, it can be hard to tell which side outweighs the other. We connected with franchisees from Right at Home* and Lightbridge Academy who work with their friends and family members to learn more about how they find a way to make it successful.

In this story

This story was originally published in 1851 Franchise on October 23, 2018. Burnaze summarizes and links to the original reporting.

Read the full story at 1851 Franchise

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