Franchising’s biggest ambassador is very optimistic for the future of the industry.
As the International Franchise Association continues to educate and promote the franchising industry, IFA president and CEO Robert Cresanti has high hopes for the future. According to a recent QSR Magazine article, economic statistics indicate that franchising is outperforming non-franchise market segments in terms of growth and if the industry can hurdle over potential regulatory burdens and adapt, Cresanti sees room for continued growth.
One reason the industry has stayed so healthy is that franchise systems can easily perfect their business model and establish a set of systems that work. Cresanti explains, “The fact that you have a playbook that has a game plan in place for you, and a system where if you talk to another franchisee who’s had a problem like the one you’re experiencing and you share your troubles with him or her, you can find answers to business problems you’re confronted with.”
Cresanti also believes every franchise out there needs to have a strategy to attract millennials in the next five to 10 years and without it, they won’t succeed. By finding and hiring the right employees and getting innovative when it comes to running a business around regulatory burdens, brands will also continue to be successful in the franchising space.
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