Dylan Patel got his entrepreneurial career off the ground by signing a deal to open an Orangetheory Fitness franchise while he was still a freshman in college, and he has since grown his business holdings. "The millennial generation is known for its entrepreneurial spirit, so it's no surprise that many young entrepreneurs are turning to franchising as a way to grow their businesses," said David McKinnon, chairman of the NextGen in Franchising Committee.
Church's Chicken, which is marking its 65th anniversary this year, has reorganized its management, and CEO Joseph Christina sees opportunity for growth in Asia and other markets. "There's no doubt that we have the best product and we need to catch up in the area of reimaging our restaurants and growing in markets where we feel guests want to come and eat our chicken," he said.
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An environment of trust, appreciation and innovation helps people to be happy and perform effectively and creatively, Larry Senn writes. Encourage others to be open to change, foster open communications and recognize successes.
Servant leaders tend to assume responsibility when things go wrong and praise others when things go right. Their presence might help organizations boost employee retention, cultivate trust and outperform competition.
TMAD surpasses $4 million in franchise fee revenue
After spending $100,000 with a large franchise recruitment consulting firm, Teriyaki Madness was unable to award any new franchises. Frustrated and fearful, they turned to RainTree Franchise Sales to help ignite their growth. A few years into the RainTree partnership, TMAD has now surpassed $4 million in franchise fee revenue and is one of the fastest growing fast casual restaurants on the planet. LEARN MORE ABOUT THEIR PARTNERSHIP HERE.
Growth of revenue per available room in the US has been sluggish, despite an improving economy and positive consumer sentiment. Marriott CEO Arne Sorenson and Hilton CEO Christopher Nassetta cited caution among the corporate travel segment.
As more Americans demand plant-based or vegetarian cuisine, even restaurants where meat is the main focus are adding more vegetable dishes to the menu. Cauliflower "wings" are a popular option at Cincinnati's Buffalo Wings & Rings, for example.
IFA's Annual Convention takes place Feb. 10-13, 2018, in Phoenix, Ariz. IFA members who sign up before Sept. 15 under a special early bird offer can save $50. Register today and save!
Honor those who give back
IFA's Franchise Education and Research Foundation will honor the most innovative community leaders and charitable programs in franchising nationwide during an awards celebration and dinner on Sept. 11. For information on individual tickets and table sponsorships, contact Gionne Jones.
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To grow the pipeline of skilled workers in the US there should be greater investment in apprenticeship programs, writes US Rep. Rosa DeLauro, D-Conn. "Our policymaking should increase opportunities for people to develop in-demand skills and credentials that help people get good jobs with rising incomes," she writes.
The National Labor Relations Board's joint-employer standard could "stunt growth in the franchise industry, making it much more expensive and perilous for franchisors to conduct business," writes Gordon Webster Jr. He calls for lawmakers to support the Save Local Business Act.