CEO Q&A: Are There Any Trends in Your Industry You Foresee Having an Impact on Your Brand?
In each issue of Franchise Update magazine, we profile franchise CEOs and presidents, asking each the same set of questions. Throughout the year, we'll be selecting one of those questions - and providing answers from those profiles. Want to learn more about these franchise leaders and their thoughts on other topics? Easy - click the links we've included with their responses to read their full profile.
This week's question: Are there any trends in your industry you foresee having an impact on your brand?
Nicole Ossenfort, CEO and President, Liberty Tax
Tax preparation is personal. People want tax preparers they can trust, people who are like them. As more people from diverse backgrounds look for tax preparers, they'll seek out people from their communities to serve them. Our franchisees are diverse and represent so many different ethnic groups. On top of that, we have a brand, SiempreTax+, which is solely focused on Hispanic taxpayers. Read the full profile here.
Brian Petranick, CEO and President, RiseMark Brands
Absolutely. Significant changes in the demographics of the country and world are going to have a meaningful and permanent impact on several of our critical key business drivers. In addition, the U.S. health care system (and other country-specific health care systems) are fundamentally being altered to adjust to the shifting demographics. This is requiring us to think differently about the organization we are today and the organization we will need to be in the future. Read the full profile here.
Tammy Whitworth, Chair and CEO, Window World
Everything in our industry is evolving and becoming more digitally focused, so we're certainly making efforts to grow and meet our consumers in the digital marketplace. In terms of design trends, it is extremely important that we stay at the forefront of evolution. To keep up with the latest in home design, we've aligned ourselves with great manufacturers that work with us to offer our customers the latest and greatest in product aesthetics. We also have a strong product development team in the office that works to not only stay ahead of the trend but to be the trend-setter in our industry. Read the full profile here.
Shannon Hudson, CEO and Co-Founder, 9Round Franchising
Small boutique fitness studios are the trend today. This will continue as consumers today are more educated than ever on all the different workout styles available to them. It's a great time in history to be a 9Round owner. Read the full profile here.
Bette Fetter, CEO and Founder, Young Rembrandts
The children's enrichment industry has grown tremendously. It hardly existed when we started. The growth of children's enrichment opportunities is good because people come looking for you now, but it is more competitive for children's time. And overall, the increased offerings and "competition" are great for kids and their educational opportunities. As far as franchising, there's been more of a move toward flexible schedules, working from home, and being more in control of your life and circumstances in corporate life. And that trend is great for us because our franchise model lends itself to that work-life balance. A lot of people want that now, and that's how Young Rembrandts has always been. Read the full profile here.
Jon Nobis, CEO, Two Men and a Truck
We like to use the phrase, "We are a customer service company that just chooses to be in the moving industry." With that in mind, we're focused on addressing the societal trends that affect the overall customer service industry. Read the full profile here.
Larry Oberly, CEO and President, SpeedPro Imaging
Ha! Change is coming. New printers, faster and bigger. New media and materials. New applications and new shapes, perhaps applying print where we haven't before. Perhaps even new regulations and rules that might limit today's printing, yet open opportunities elsewhere. Then there's digital, the e-form of printing, which is always developing. I'm not sure if we're at a stage of increased consolidation, but perhaps so. I could see M&A activity becoming a bigger issue in the future. Finally, being innovative and leveraging new opportunities is critically important to the future. We're engaging our studio owners to help us look at market trends and try to be on the front foot, leading the changes. Read the full profile here.
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