The top eight stories you probably didn’t need to know in franchising this week.
1. Frantastic: We’re all familiar with Entrepreneur's Franchise 500. But now, for the first time, the magazine has released a ranking of franchise suppliers. These suppliers are broken down by categories that include accounting, banking and financing, marketing, online technology services and public relations. This Frantastic list of suppliers was created by surveying hundreds of franchisors.
2. Franlebrity: This week’s Franlebrity is TC Krueger, a Jersey Mike’s franchisee who makes it a top priority to give back. Supporting the local community is something that’s important for Jersey Mike’s franchisees across the board — for every grand opening, the brand’s local owners partner with a charity or school to do a fundraiser as a part of their initial marketing efforts. Krueger is continuing those charitable efforts by working with foundations like Make-a-Wish as well as local schools to become ingrained in the community.
3. Frash Money: Fall is in full swing — according to Starbucks and Dunkin’ Donuts, at least. Pumpkin spice season is just around the corner, as both brands are planning on rolling out their pumpkin spice lattes before August comes to a close. While it may seem early, pumpkin flavored items have proven to make brands Frash Money. Starbucks has sold over 200 million PSLs in its first decade on the menu.
4. Frant of the Week: In his latest Frant for 1851, No Limit Agency CEO Nick Powills explains that in business, most of your challenges come from the same 10 percent. That means that if you gain the confidence to fix that 10 percent, your business — and happiness — can improve. While making the decision to fix that 10 percent and changing something in your organization can be tough, it’s ultimately what allows you to gain control. And control is ultimately an important step in resolving challenges.
5. Franch Forward: Ads play a critical role in a brand’s ability to Franch Forward. But sometimes, ads come with limitations. That’s why Google and Unskippable Labs created a fake pizza brand called “Doctor Fork” — they wanted to test creative ad strategies that real brands don’t have the freedom to employ. Their test found that users prefer multi-sensory experiences, meaning that ads should tap into audio, video and text.
6. Fran Funny: He’s back! Papa John Schnatter doesn’t know when to quit — he created his own website called “Save Papa John’s,” which he’s using as an outlet to connect with consumers directly and fire back at the company’s board. You can check out the website for yourself here.
7. Franspiration: “From a business point of view, we want the community to grow, be successful, be clean, be profitable and we want to be a part of all that. Their growth is our growth.” - Another Broken Egg Cafe franchisee Homer Biggers on why giving back to the community is an essential part of his business.
8. Franemies vs. Frands: Facebook has been making a lot of changes lately that’s made it a Franemy in the eye of many brands. And now, there’s a new set of changes that’s impacting the way brands are able to advertise on the social network. Facebook has officially eliminated several thousand targeting options for ads on the platform, ultimately altering a lot of ad campaigns and strategies. Facebook says the move is designed to protect people from discriminatory advertising.