The top eight stories you probably didn’t need to know in franchising this week.
1. Frantastic: Closing ceremonies for the 2018 Winter Olympics are coming up this weekend. Did your brand tap into the hype behind the global event? Over the past few weeks, concepts across the country have been integrating the Olympics with their products and services, including Olympic themed restaurant LTOs and viewing parties. By capitalizing on the popularity of the international sporting event, franchisors have the opportunity to bring more customers through their doors.
2. Franlebrity: For a special edition of The 8, our own Nick Powills sat down with Tutor Doctor advisor and Board of Directors member Dan Monaghan to discuss how the franchise development process is currently being disrupted. During their conversation, this week’s Franlebrity points out that because the landscape surrounding franchising is constantly changing, brands are facing unique challenges when it comes to driving growth and staying ahead of the curve. Head to 1851 to check out the full interview.
3. Frash Money: In order to be competitive in today’s digital-centric world, brands need to offer delivery. But is it worth it? With markups from third party delivery services reaching as high as 35 percent, high fees have restaurant brands struggling to make money on these sales. That’s why it’s important for brands to track their POS systems when implementing delivery options. That will allow them to see the true impact that delivery is having on their businesses.
4. Frant of the Week: The gap between good and great businesses is incredibly small. The difference comes down to customer service and positive attitudes. And as No Limit Agency CEO Nick Powills points out in his latest Frant, that means that brands need to align their delivery with their promises. Especially in a review-filled world, businesses can only be successful when their concept receives positive validation. That’s why brands need to ensure that their sales team is fully integrated with the teams behind operations, marketing and executive leadership.
5. Franch Forward: Dunkin’ Donuts has major plans to Franch Forward across the country. In fact, the brand is planning to add 1,000 new U.S. stores to its system by the end of 2020. But Dunkin’ is facing an unexpected road block as it tries to grow: a labor shortage. The brand’s CEO Nigel Travis said that he’s concerned that they won’t be able to find qualified workers to fill the new positions that are being created.
6. Fran Funny: How is imitation like a plateau? They’re both the highest form of flattery.
7. Franspiration: “We pride ourselves on how we treat our customers, always with exceptional service. We greet them by name, have their drink ready when they come into the store, make them feel they’re the most important guest of our day, because they are.” – Laina Sullivan, Director of Franchise Development for Gloria Jean’s Coffees
8. Franemies vs. Frands: Yum! Brands has a new Frand: Grubhub. Fans of KFC and Taco Bell will soon be able to place orders online and have their food delivered right to their doors through a new partnership between the companies. In exchange for putting its brands on Grubhub, Yum! bought $200 million in GrubHub stock. This new partnership gives KFC and Taco Bell access to Grubhub’s base of 14 million users.