Franchise Leaders Rank Their Greatest Challenges for 2023
At this fall’s Franchise Leadership & Development Conference in Atlanta, we surveyed approximately 50 CEO Summit attendees, asking them: “As a franchise CEO, president, and/or founder, please select your Top 2 Greatest Challenges.”
Franchisee profitability led the responses, followed closely by two employment related concerns: location labor and corporate talent. We’ve included all the responses, assigning a value of “2” for their top choice and “1” for their second choice. Here’s what’s keeping franchise leaders up at night.
| Category | 1's | 2's | Total |
|---|---|---|---|
| Franchisee profitability | 8 | 7 | 23 |
| Location labor | 8 | 6 | 22 |
| Corporate talent | 7 | 14 | |
| Supply chain | 3 | 4 | 10 |
| Containing costs | 2 | 3 | 7 |
| Technology adoption | 1 | 4 | 6 |
| Inflation | 1 | 3 | 5 |
| Challenging consumer behaviors | 1 | 2 | |
| Pricing | 1 | 2 | |
| Legislative issues | 1 | 2 | |
| Other: | |||
| Franchise lead generation | 1 | 2 | |
| Access to capital for franchisor, not franchisees, through SBA loans | 1 | 2 | |
| Cost & implementation of emerging technology | 1 | 2 | |
| Comm'l RE availability zoned for automotive | 1 | 2 | |
| Real estate | 1 | 2 | |
| “Hard to pick 2” | 1 | 2 | |
| Experience | 1 | 1 | |
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