A KEYNOTE SPEAKER’S TAKE ON FUTURE TRENDS IN FRANCHISING THAT FRANCHISORS & FRANCHISEES SHOULD EMBRACE

Crunch the numbers and it’s clear from future trends in franchising that the sector is preparing for sweeping changes as new technologies, business models, and consumer behaviors transform the marketplace. Franchisors and franchise able to capitalize on emerging opportunities and top future trends in franchising while supporting business strategy efforts will maintain relevancy and fuel growth in the coming years.

Several makings of small business agility, plus automation that enhances customer experiences, operational efficiency, and insights into unit performance will drive franchising forward. Affordable robotic solutions will help franchisees control expenses and reduce reliance on hourly wage staffing while improving order speed and accuracy. Similarly, digital ordering/payment platforms and data analytics on sales, inventory and more provide superior visibility benefiting owners.

Franchisors offering flexible arrangements with lower upfront investments will also allow business ownership expansion, especially among minority and immigrant communities. Options like equipment leasing or discounted license fees eliminate barriers for new entrepreneurs. Conversion franchise models enabling easy transitions of existing independent businesses into proven branded concepts present another pathway. Overall, reducing friction and startup costs gives franchising wider appeal.

Simultaneously, the rise of ghost kitchens, virtual brands, and delivery-based units making small retail footprints viable will facilitate franchising’s growth too. Digital storefronts on meal delivery apps are already a multibillion-dollar market growing at double digit rates annually. Their lower overhead and ability to reuse existing infrastructure of a brick-and-mortar location make this a lucrative avenue for multi-unit franchisees to quickly test and validate new concepts at scale.

Franchises embracing sustainability will additionally benefit from shifting consumer expectations about corporate responsibility. Initiatives like streamlining supply chains for less waste, adding plant-based menu options, transitioning to renewable energy, earning B Corp certification and implementing eco-friendly construction/renovation will soon be non-negotiable. They boost loyalty among purpose-driven customers and employees too.

Reading through future trends in franchising reports, it’s obvious that franchisors and franchisees must continue adapting to changing societal needs through technology integration, creative growth strategies and conscientious operations. Brands proactive on these fronts will future-proof their networks and foster small business prosperity.