The 8 | May 5, 2017

1. Frantastic: By now, we all know about the disastrous Fyre Festival. After millennials shelled out $250,000 to attend a fancy version of Coachella, they arrived in the Bahamas to find their high end housing was actually disaster relief tents and that their gourmet food was no more than a piece of cheese on bread. But the fallout from Fyre Festival was more than just memes. There are a few teachable moments here. For starters, you’re only as good as your product. There’s no amount of marketing or celebrity power that can distract from a bad business, which is why you need to be cognizant of your ability to find the right balance of hype and the ability to create a premium brand.

2. Franlebrity: We kicked off a new issue on 1851 this week that highlights the day-to-day life of executives and franchisees in the industry. To get things started, we featured Paul Macaluso, the president of McAlister’s Deli. This week’s Franlebrity explains how he spends his days getting to know the brand’s franchisees in effort to move McAlister’s forward. He said, “I believe that when we take the time to really get to know our franchisees and listen to their input, we can be better franchisors.”

3. Frash Money: In honor of Small Business Week, we’re celebrating the opportunities and jobs that brands are creating for entrepreneurs on the local level. CNBC recently reported that while small business hiring saw a decrease in April, wages for existing employees continued to rise. National hourly earnings for the month were $25.67, which is a jump of 2.73 percent. And some markets like Dallas, Texas and the state of Tennessee are ranking as the top metro areas for small business jobs.

4. Frant of the Week: Our “Day in the Life” issue isn’t the only new thing to hit 1851 this week—No Limit Agency* CEO Nick Powills also launched a series of Frants covering the truth about franchise development. In his latest column, Powills explains that as the cost of leads continues to rise, it’s becoming more important to understand every element that goes into development. From marketing and PR to your website and digital presence, your entire brand biography establishes value and can ultimately result in more leads.

5. Franch Forward: Best in Class Education Center is Franching Forward in a previously untapped development market. The brand is opening up its first Michigan location in June, marking a significant step for the brand as it aims to bring its individualized approach to supplemental education to new communities across the country. By reaching consumers in new states, Best in Class is working towards its goal of expanding on a national level.

6. Fran Funny: In honor of our guests from Buffalo Wings & Rings this week, we thought that we’d use a joke about chicken wings for this week’s Fran Funny. The only problem is that they’re a little too saucy for our audience. Have our puns reached a new buffalow yet?

7. Franspiration Misquote: “Vision without action is a daydream. Action without vision is a nightmare. Brand growth without franchisees is an illusion.” – Japanese Proverb

8. Frands vs. Franemies: Instead of throwing shade, we’re featuring a few of our favorite franchising Frands—franchise development executives and experts. You may have noticed that franchise development is something that we know about here on “The 8,” as demonstrated by our all-star line-up of guests this week. Whether you’re looking to invest in a brand for the first time or are in the industry and looking to expand, these are the people that you want to talk to. And you can always check out 1851 for the latest franchising news and to stay up to date on the latest industry trends.