The top eight things you probably didn’t need to know in franchising this week.
1. Frantastic: Would you say that 2017 has been a Frantastic year for franchising? Whether you were expecting more or are happy with how things turned out, there’s no doubt that this year has been packed with defining moments for the industry. 1851 rounded up those defining moments in a new feature on our main site, from the joint employer mandate roll-back and tax reform to SBA loan changes and the rise of online security concerns.
2. Franlebrity: Our latest Franlebrity boasts a level of fame that goes far beyond franchising. On Christmas day, we published our interview with actor Zack Ward. You probably recognize Ward as the antagonist of the classic movie “A Christmas Story”—his role as bully Scut Farkus is iconic. But now, instead of playing the bully, he’s running a business. Ward was recently named CEO of AllSportsMarket, a company aiming to create a West Coast Wall Street by allowing sports fans to buy and sell shares of their favorite teams. That means Ward is now fighting a different kind of bully. He said, “The iconic aspect of my brand is Scut Farkus, the bully in ‘A Christmas Story.’ Now, I’m able to leverage that role because there’s a clear correlation between bullying and gambling.” Check out the full interview on 1851.
3. Frash Money: There have been two major purchases in the franchising industry over the past few weeks. First, private equity firm Sentinel Capital Partners announced that it acquired Captain D’s. Then, Jack in the Box Inc. dropped the news that it’s selling Qdoba Restaurant Corp. to Apollo Global Management LLC. While the terms of Sentinel Capital Partners’ deal were not disclosed, Qdoba’s 700 owned and franchised restaurants were purchased for $305 million.
4. Frant of the Week: As No Limit Agency CEO Nick Powills’ month-long column comes to an end, he argues that franchise sales need to evolve. Right now, reaching the right prospects can be challenging. But there’s an order to winning in franchise sales—by treating existing local owners right and creating strong brand validation, it’s possible to reach the best prospects. It only takes one great lead to get one great deal.
5. Franch Forward: The franchising industry is preparing to Franch Forward into the new year. That’s why 1851 is taking a look at the things that will have the biggest impact on the industry in 2018, from the Financial Accounting Standards Board’s new rules surrounding revenue to a renewed focus on multi-unit development. Despite the challenges and changes facing franchising, the overall outlook for the new year is positive.
6. Fran Funny: A New Year’s resolution is something that goes in one year and out the other.
7. Franspiration: “May all your troubles last as long as your New Year’s resolutions.” – Joey Adams
8. Franemies vs. Frands: Are New Year’s resolutions your Franemy or your Frand? Do you follow through on the goals that you set for yourself, or have you already given up on them by the time that January comes to a close? We want to know what you think about New Year’s resolutions. If you have any goals—or tips for sticking to them—that you’re eager to share, let us know on Facebook!