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In a recent interview with Franchise Marketing Radio, Morgan discussed expansion plans for WellBiz Brands’ portfolio concepts.
WellBiz Brands, Inc. has solidified its position as a leader in the beauty and wellness industries with over 900 locations. In a recent podcast with Franchise Marketing Radio, CEO Jeremy Morgan discussed how the portfolio is building on its momentum to further franchise growth in 2022 and beyond.
One way in which WellBiz Brands’ concepts are able to grow is through a recurring revenue business model. According to Morgan, this model is beneficial not just for franchisees, but for customers as well.
“First of all, memberships in general and recurring revenue in general have really taken off as a business model, whether it’s Peloton or Netflix or Amazon Prime, or our concepts in Elements Massage, Amazing Lash and Drybar. Customers have gotten very accustomed to a membership-driven approach,” Morgan said on the podcast. He continued, “For the business owner, of course, the predictability of those recurring revenues is just incredible.”
To listen to the full podcast, click here.
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