Year 2018 will be a game changer for the franchise industry. The Franchise King®, Joel Libava wears his hard earned crown with ease, having made several successful predictions in the past. Joel has recently taken an in-depth look at the state of the franchise industry and what trends are likely to play a major role in 2018. The article, “The Top Franchise Trends And Predictions For 2018” is available on his highly prized website, TheFranchiseKing.com.
According to The Franchise King®, new franchise unit sales are likely to be fairly flat in 2018 for various reasons. The topmost influencing factor is the fact that unemployment is at a new low, and people with stable, well paying jobs are therefore less likely to think about starting a new business. A smaller pool of would-be franchise owners means that sales personnel will need to tone down their sometimes-aggressive sales tactics.
The US retail sector is doing pretty well, and yearend holiday sales rose 4.9% compared to the same period last year. The same is true for other major sectors such as housing and banking, which remain strong as there are more people with stable salaries. Small business loans too are available at low interest rates. So what new things can be expected in 2018?
Although food franchises continue to remain as popular as ever (new franchise unit growth could be between 1.5-1.8%), Joel has highlighted a new business model that he highlights in his article. The new business model, according to Joel, is the ‘keep your job while starting a franchise business’. Those wishing to attract franchisees in 2018 will do well to focus on creating a ‘manager run’ business model to make their system grow.
The Franchise King®, Joel Libava is the celebrated author of “Become A Franchise Owner!” (Wiley Publishing) and is the go-to man for anyone who wants to know about finding, choosing, researching, and buying a profitable franchise. On his official website, Joel talks about everything franchise, and educates and advises entrepreneurs on the smart ways to choose, research and buy profitable franchises, become the boss and live their dream life.
Joel offer private franchise consultations, and his blog features over 1,500 articles on how to own a franchise. He also distributes the free weekly VIP Franchise Newsletter that goes to over 6,000 recipients. And don’t forget his online courses at Franchise Business University.com
For more information, please visit: https://www.thefranchiseking.com
Company Name: Franchise Selection Specialists Inc.
Contact Person: The Franchise King®, Joel Libava
Country: United States