The top eight stories you probably didn’t need to know in franchising this week.
1. Frantastic: As 2018 comes to a close, brands and publications — including 1851 — are taking a look back at what worked and what didn’t throughout the year. In a new feature that’s live on our site now, we’re reflecting on the marketing trends that were beneficial over the past year, including a combination of PR and digital marketing. On the other hand, strictly relying on traditional marketing techniques isn’t cutting it anymore. Head to 1851 to learn more.
2. Franlebrity: This week’s Franlebrities are a little bit different — instead of highlighting someone in the franchising industry, No Limit Agency CEO Nick Powills is giving the NLA and 1851 staff a shoutout. Check out this week’s episode of The 8 to hear about some of the people on our team!
3. Frash Money: Aspiring business owners who want to make money through franchising need to be prepared to navigate their way through brands’ FFDs, or Franchise Disclosure Documents. While these documents can be overwhelming, there are a ton of resources out there for franchisees that tell them what they need to know. We’re highlighting one of those on 1851 this week that comes from Canadian Business Franchise. This guide breaks down the three different types of franchise agreements and how they can function.
4. Frant of the Week: There’s a saying that claims, “subtraction is hard, addition is easier.” In his latest column for 1851, Powills explains why this is something that should be followed in business. Of course, it’s difficult to remove people from organizations because it leads to disruption. However, the art of subtraction is sometimes necessary. Check out the column on 1851 to learn more.
5. Franch Forward: Will convenience store franchises be Franching Forward in 2019? That’s a question we’re taking a look at this week on 1851. With companies like Amazon taking over the marketplace, convenience stores are struggling to keep up — even with smaller buildouts. However, if convenience store chains start adapting things like delivery, there’s a chance that they’ll be able to remain competitive.
6. Fran Funny: Why did the Grinch go to the liquor store? He was looking for the holiday spirit.
7. Franspiration: “It’s so important to plan extensively into the next year. Beyond that, you must execute against that plan very precisely.” - Jackie Lobdell, Executive Director of Franchise Development at Slim Chickens, on how brands can prepare for the new year.
8. Franemies vs. Frands: Fast casual brands have a new Frand — third party delivery services. GrubHub recently released a report on food and online ordering trends in 2018, and noted that 40 percent of customers ordered from fast casual restaurants. Quick service restaurants came in a close second with 32 percent of orders being made in that segment, followed by casual dining spots.