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When the topic of the latest trends in franchise development comes up, it is very difficult to separate the increasing impact of technology. Whether it is through the use of online tools or social media to reach candidates or development teams implementing AI into their operations, harnessing the power of technology may be the biggest trend in franchise development.
Franchise Update spoke with several executives about both of these topics. In addition to technology, some officials cited the current economic climate impacting sales, multi-unit franchisees adding locations to their portfolios, and the increased presence of private equity as being the biggest trends they are currently seeing.
We also asked the executives how technology was changing the way their sales process works. While acknowledging they are still learning how to leverage AI capabilities, they all said it was having a positive impact on lead generation. One of the biggest advantages of AI in the frandev process is greater engagement with candidates with automated responses, and in some cases, being able to immediately schedule meetings and follow-ups.
In the latest “Development Dish” video, you’ll hear from: