December 21, 2017 // Franchising.com // New York, NY - Franchise Grade® the leading franchise market research firm in the franchise industry, has released Part Two of its emerging franchise report. Part One presented an overview of new franchise growth of startup franchises for 1,207 franchises over a 10- year period. The latest report provides additional data on startup and emerging franchises including commentary from franchisors and franchise experts. Personal Services, Quick Serve Restaurants and Commercial and Residential Services accounted for 61% of the emerging franchises in our database.
Robert Cresanti, CEO of the International Franchise Association commented in the report that “Emerging franchise brands will continue to fuel sustainable growth, competition, and innovation all which are essential in addressing and resolving concerns and challenges facing the business model.”
The results of the report indicated that emerging franchises have the potential to achieve dynamic growth. To achieve successful growth, startup franchises need to follow certain guidelines when they launch their new franchise.
Kevin Wilson, CEO of Buzz Brands confirmed the findings; “I think it’s very important for all franchise systems to have a strong organic development program. This means a strong sales process with an experienced development team. It also means an analytical marketing department that can assess the best places to spend money.”
Ed Teixeira, COO of FranchiseGrade.com, commenting on the report stated: “Since 70% of franchises have 100 or less units, emerging franchises account for a critical component of the franchise industry. The objective of these reports is to provide new data pertaining to the growth of franchise systems from the start-up to emerging phase.”
The findings and commentary from industry experts reveals how important it is for startup franchises to begin with ample capital and a successful franchise model.
To download a copy of The State of Emerging Franchise Systems – Part 2: https://www.franchisegrade.com/reports/article/analysis_of_emerging_franchises_2
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SOURCE Franchise Grade®