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Welcome to the debut of La Creme de la Creme: Industry Trends & News from Franchising's Top 100 Global Influencers, a publication that brings you the latest news from the franchise world’s most influential characters.
In this edition, SeoSamba brings you highlights from the incredible world of franchise influencers, shedding light on the latest developments and achievements within the franchise industry.
SHAKERS & MOVERS
Franchise World Updates: Who's Moving Up and Who's Taking New Roles
Congratulations to all the professionals making strides in their careers! Here's a quick look at the latest movements in the franchise industry:
New Positions:
- Scott Thompson has joined Radiance Holdings, LLC. as Chief Development Officer. He announced his new role on LinkedIn, expressing enthusiasm about working with the teams at Sola Salons and Woodhouse Spas, as well as their private equity sponsor, TSG Consumer. Thompson highlighted the growth potential of these brands and his excitement for the journey ahead.
- Thomas Dougherty has been appointed as the Franchise Business Consultant at Neighborly®, a local network of home service brands. His focus in this new position is on team growth and team results, aiming to drive success across the network.
Promotions:
- Collin Elder has been promoted from Franchise Development Coordinator to Franchise Development Manager at Goodcents Restaurants. In his new role, Collin’s focus will be on expanding the company's footprint through strategic franchise partnerships, driving growth and enhancing brand presence.
- Richard North has been promoted to Global Franchise Director at United Fitness Brands. Richard will be leading the franchise's global expansion efforts, focusing on sharing their portfolio of brands worldwide.
Franchise Ownership:
- Jaskaran Singh has become a franchise owner at The Handyman Group, a local handyman service franchise brand. This move marks a significant step in Singh's career as he takes on the challenges and opportunities of franchise ownership.
- Jaimie Lahrman, CFE, CSM has become a franchise owner at Blue Coast Burrito Franchise in Nashville, TN, expanding her professional portfolio with this new venture.
Stay tuned for more updates on their progress and achievements! Did we miss anyone? Submit your Movers & Shakers here for a mention in our next edition.
FRANCHISE DEVELOPMENT
"Big Money In Franchising: Scaling Your Enterprise in the Era of Private Equity" by Alicia Miller, NACD.DC, CMAA, CFE
Franchising is evolving rapidly, with private equity (PE) becoming a major driver of this transformation. Many franchising companies now prefer PE transactions over going public due to the robust franchise model's appeal to investors. A key example is Subway’s 2023 acquisition by Roark Capital Group for over $9 billion, reflecting a larger trend where over 700 brands have recently partnered with private capital. With an estimated $1 trillion in committed funds ready for investment, the potential for growth and innovation in franchising is immense.
Alicia Miller’s new book, “Big Money in Franchising”, is a comprehensive guide on how to utilize private capital to grow your franchise business. The book includes case studies, best practices, and insights into PE growth strategies, key players, and trading dynamics. It also addresses common challenges in franchise investing and offers professional recommendations for vetting partners to ensure successful PE engagements.
About the Author: Alicia Miller is the founder of Emergent Growth Advisors, a strategic franchise and private equity advisory firm based in Columbus, OH. Her firm assists emerging brands with strategic growth. She is a board member of the International Franchise Association’s Certified Franchise Executive education program, and has contributed to Franchise Times, Entrepreneur, and Forbes, among other publications.
Get Your Copy
“Big Money in Franchising” is available from Amazon.com, Barnes and Noble, Figure1 Publishing.
Most recently, Miller discussed her book with Frank Fiume, host of the Emerging Franchise Brands podcast on Youtube.
Marco’s Pizza® Expands in Ohio with Major Development Agreement
Marco’s Pizza® has announced a major franchise development agreement for 15 units in Ohio, highlighting its commitment to Midwest expansion.
Grube, Inc., led by founder Steve Grube, will manage this expansion. With over 20 years in the restaurant industry, Grube, Inc. currently operates 67 Buffalo Wild Wings locations and a Rusty Taco in Maumee, OH. They chose Marco’s Pizza for its strong concept, high-quality products, and proven business model.
The deal includes the resale of nine existing locations in northwest Ohio and the opening of 15 new locations in northwest Ohio and northeast Indiana. This allows Grube, Inc. to quickly establish a presence in an already strong market for Marco’s Pizza.
This agreement strengthens Marco’s Pizza’s position as a key player in the franchise industry, poised for continued growth in Ohio and beyond.
FRANCHISE BRAND MARKETING
Exclusive Interview: Catherine Monson Shares Insights on Success in Franchising
Catherine Monson, CEO of Propelled Brands, reflects on her remarkable career in an exclusive interview with 1851 Franchise. Recognized as a leader on their 2024 list of Top Women in Franchising, Catherine shares valuable insights from her journey in the industry.
In the interview, Catherine highlights the five common characteristics of highly successful individuals:
- Positive mental attitude
- Goal-directed behavior
- Self-motivation
- Sense of urgency
- Commitment to continuous learning
Learn from Catherine's wisdom as she encourages readers to take charge of their journey, seize opportunities, and cultivate a victor mindset. Don’t miss this compelling interview with one of the industry's most influential leaders.
"The Pink Tsunami: Women's Rise in Franchising" – A New Book for Women in Franchising
Alesia Visconti, CEO and President of FranServ, has announced her new book, "The Pink Tsunami: Women's Rise in Franchising," set for release in Summer 2024. This groundbreaking book celebrates women's achievements in franchising and provides insights into the diverse opportunities available. Featuring a foreword by Propelled Brands CEO Catherine Monson, it includes contributions from various franchise experts. The book aims to promote equal representation of women in all franchise sectors, inspiring and empowering women to join the Franchise Family. It will also be available as an audiobook.
FRANCHISE ADVOCACY & LEGAL NEWS
Franchise Advocacy Update: IFA Commends Bipartisan Effort Despite Presidential Veto
The International Franchise Association (IFA) has praised a bipartisan group of House members who supported franchising following President Biden’s veto of H.J. Res. 98. This resolution aimed to reverse the National Labor Relations Board's new joint employer standard, which could affect franchise owners' autonomy.
Despite the unsuccessful override attempt, the strong bipartisan resistance highlighted a robust defense for local franchises. Michael Layman, IFA’s Senior VP of Government Relations, commended these House members for their support.
The veto during National Small Business Week raises concerns about the strain on small businesses due to the joint employer rule, implemented in October 2023. Over 5,300 franchise leaders have petitioned President Biden to reconsider his stance.
A legal win in Texas, where the Fifth District Court struck down the rule, offers some relief. The IFA continues to advocate for policies that support franchised businesses' growth and health.
MEDIA & LEARNING
The Franchise Show: Protecting Aspiring Franchisees with Joel Libava
In a recent episode of The Franchise Show, host Harvey Tuck interviews The Franchise King, Joel Libava, about Protecting Aspiring Franchisees.
Joel Libava's Journey
Learn about Joel's path to success, from a life-changing event, to his current role helping people choose the best franchise for them.
Key Insights
How confident are you that your FDD has everything needed to sell new territories? Joel advises prospective franchisees never to compare FDDs, emphasizing the importance of comprehensive research.
About Joel Libava
An expert in franchising, Joel offers advice and insights to help prospective franchisees understand the risks and rewards of franchise agreements. Discover if your brand meets Joel’s criteria and what he recommends prospective franchisees should always do before committing to a brand. (Hint: He advises prospects to speak with current franchisees to get their honest feedback.) Joel is an author and consultant, known for his candid advice on making informed decisions that align with personal and financial goals.
For more from Joel, visit thefranchiseking.com/blog.
Watch the Episode Thanks to The Franchise Show for producing this video podcast. View more episodes on YouTube @TheFranchiseShow-bn1xc and subscribe for updates.
Franchise Business News is brought to you by SeoSamba, a marketing and sales automation software suite provider, with turnkey franchise development and franchise brand marketing solutions for emerging franchise brands. Each year, SeoSamba reviews thousands of nominees and awards the Top 100 Global Influencers in Franchising award to the most influential characters in the franchise world.
If you have news that you’d like to have published in an upcoming edition, you may submit it to influencers@seosamba.com for consideration.
Thanks for reading!
