The top eight stories you probably didn’t need to know in franchising this week.
1. Frantastic: Buying a franchise means buying into a system. That’s Frantastic for entrepreneurs who are looking for support. But it also means that some things are non-negotiable when investing. In an article now live on 1851, we broke down what items may be up for debate when signing on to become a local business owner.
2. Franlebrity: This week’s Franlebrity — who’s also this month’s 1851 cover star — is Nigel Travis, Executive Chairman of Dunkin’. In a new video interview with 1851, the former Dunkin’ CEO, Papa John’s President and CEO and Blockbuster President and COO dives into his experience in both franchising and leadership in general. Travis also discusses his book, The Challenge Culture, and the idea of questioning everything without disrespecting everyone.
3. Frash Money: In an effort to make more Frash Money, Burger King is getting a futuristic design. The new “Burger King of Tomorrow” will be introduced across the U.S., which is a redesign that includes double drive-thru lanes and outdoor digital menu boards. Right now, there’s no timeline to roll the redesign out.
4. Frant of the Week: Franchise sales and recreational drug use aren’t often mentioned in the same sentence. But in his latest Frant for 1851, No Limit Agency CEO Nick Powills explains how the two have a lot in common. Both are filled with lows and highs — pun intended — that come with the lead generation and sales cycles. However, Powills argues that by changing company cultures, it’s possible to extend the high that comes from closing a deal so that it lasts.
5. Franch Forward: It’s no secret that social media is an essential part of Franching Forward. However, in order to fully leverage the tools that sites like Facebook and LinkedIn have to offer, it’s important for brands to localize their social efforts in order to appeal directly to specific people and communities. Brands can do this by using targeted boosting, mixing corporate and local content and more — for additional tips, head to 1851.
6. Fran Funny: What do you call an evil turkey? Poultry-Geist.
7. Franspiration: “It is very often not a lack of qualified applicants, it’s really a lack of quality recruiting.” — Restaurant HR Group CEO Carrie Luxem on the real reason companies can’t find talent.
8. Franemies vs. Frands: Snapchat made a lot of Franemies when it redesigned its app this past spring. But now, it looks like the company has more Frands on its side — this year, roughly one quarter of the American population will be on the app. Snapchat’s monthly user rate is up 7.1 percent from 2017, and it’s expected to climb again in 2019. Right now, the app is the most popular social network among teens.