2021 has been a banner year for many franchise brands. Well capitalized brands with strong unit economics and culture-driven leadership teams are winning big, while many middle of the road brands are losing traction.
Add to the mix the rising influence of extremely informed franchise brokers that — more than ever — are scrutinizing the brands they recommend and that are gravitating toward the winning brands.
The strong are getting stronger, and in this hyper-charged, monetized and inflation driven economy, if your franchise sales are not accelerating, it’s time to reassess your planning, growth strategy and value. If you’re one of those winning brands, keep accelerating.
Economic turbulence is coming ... and the consolidation around winners and losers will be getting even greater. See our Bottom Thoughts on leveraging the next economic challenge.
Jump Into a Child's Imagination with Bella Ballerina
Bella Ballerinais more than a dance studio. It gives little dancers a fun and educational experience by learning through storybook themes. This franchise is perfect for fist time business owners and is backed by a hands-on founder, mom and entrepreneur who is committed to setting up her franchisees for success.
Learn more about Bella Ballerina on Instagram and here.
Franchisees Kicking Ass: The Franchisee Is King
The Great Franchisee: Noah Kara, Layne’s Chicken Fingers*, Corpus Christi
The first-time franchise owner signed a multi-unit deal with the fast-growing chicken franchise to bring its first locations to the Corpus Christi market.
For the first time in its 27-year history, chicken franchise Layne’s Chicken Fingers* is coming to Corpus Christi.
After a stint in the corporate world, Houston native Noah Kara decided to follow in the footsteps of his entrepreneur father and open his own business. After meeting with Layne’s corporate team, Kara quickly decided it was the perfect opportunity for both him and the Corpus Christi market and signed onto a multi-unit deal with the franchise.
Top Franchise Brokers: Michael Lorsch, M. Lorsch Consulting
When it comes to advising potential franchisees, M. Lorsch Consulting broker Michael Lorsch has walked the walk. With previous experience as a multi-location franchise owner, vice president of a large international company and CPA, Lorsch’s goal is to help clients find a franchise that will allow them to achieve their lifestyle goals and financial objectives.
“I don’t sell,” Lorsch said. “Instead, I educate, guide, coach and counsel my clients to do their due diligence. “They need to take their time and not feel rushed by the franchise company. They should not impulsively buy in.”
Specializing in industry-leading, recession-resistant franchise companies with successful track records and a high level of franchisee satisfaction, Lorsch believes filtering out less successful franchises helps his clients minimize the inherent risk of investing in a business.
“I am particularly aware that investing in a business is a crucial decision that needs to be made only after a thorough investigation of the opportunity is completed,” Lorsch said. “Winning for me sometimes means helping a client decide that owning a business is not for them.”
If you are a potential franchisee looking to invest or a franchisor looking to attract new candidates, contact M. Lorsch Consulting at https://mlorschconsulting.com/.
The Bottom Thoughts
It's been quite some time since a big layoff was connected to economic behavior (aka 2008). Is another one coming? Are there going to be shifts in the labor market that are going to encourage new franchisees to be born? Why do franchisees buy in turbulence?
Events cause action for new franchise buyers. They need to be pushed over the ledge. Thus, when the job gets shaky, the opportunity to try something different presents itself.
Franchising — when positioned as what could be next — then becomes attractive to those buyers.
The challenge, however, is the franchisor.
When the economy gets shaky, they get nervous and dial back their marketing. Thus, lessoning the chance to place their why you/why now in front of the new buyer. Thus, the franchisors who stay committed to the gig take off.
Keep that rainy day fund fat, and you too can have the opportunity to change the course of your brand come the next turbulent moment.
Nick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
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