The top eight stories you probably didn’t need to know in franchising this week.
1. Frantastic: Starbucks just announced its largest acquisition yet. The fan favorite coffee chain is going to become the full owner of its East China joint venture bid in an effort to expand its presence in Asia. After acquiring the remaining 50 percent stake from Uni-President Enterprises and President Chain Store Corp for roughly $1.3 billion in cash, the brand will take over existing locations and add new Starbucks stores across the region. That means that a lot of new jobs will be created, and candidates will need to be interviewed. Watch this week’s edition of “The 8” to get an inside look at what that interview process entails.
2. Franlebrity: We may have set the record for the most number of Franlebrities on “The 8” last week, but we’re calling out a few more now. After 12 industry professionals—including Franchise Business Review president Michelle Rowan and FranConnect president Keith Gerson—evaluated 200 franchise development websites to find the best of the best, 1851 asked them to share their opinions on how those sites will evolve going forward. While no two answers were the same, it’s clear that the digital space is rapidly changing and brands need to keep up. Head to 1851 Franchise to see every prediction made for the future of franchise development websites.
3. Frash Money: There’s been a shift in the way that American consumers are spending their Frash Money. Instead of turning to big box stores, they’re choosing to work with local brands. And according to Robert Esposito, president of the emerging franchise concept Relocators, that’s good news for the franchising community. Franchisees bring a local connection to the table that other industries lack, meaning that brands will be able to reach even more customers going forward.
4. Frant of the Week: After one week without a shout out, No Limit Agency CEO Nick Powills is back again with another Frant highlighting how marketing fundamentals are key to helping brands stand out in a crowded marketplace. Powills explains that separating your brand starts with your positioning, but then continues into your strategy and messaging. That’s why brands eager to grow should tailor their strategies around their North Star, or the main end result that every action is working towards.
5. Franch Forward: Buffalo Wings & Rings is planning to Franch Forward in the second half of 2017. After opening four restaurants in the first six months in the year, the brand is gearing up for the launch of an additional four of five restaurants before 2017 comes to a close. CEO Nader Masadeh says this level of consistent growth is due to Buffalo Wings & Rings’ unique positioning and elevated dining experience.
6. Fran Funny: Where do dogs go when their tails fall off? The retail store.
7. Franspiration: “The best ideas come when you aren’t searching for them.” – No Limit Agency Vice President Lauren Moorman
8. Franemies vs. Frands: Dunkin’ Donuts is our Frand for many reasons, including providing the fuel for every early morning meeting that we have. But this week, we’re calling them out for being our Frand for a different reason—introducing delivery. In an effort to differentiate itself, the brand announced that it’s going to simplify its menu and become friendlier for “on-the-go” customers by embracing curbside delivery, third party delivery and incorporating more drive-thrus into its model.