EXPERT ADVICE: George Knauf | Senior Franchise Business Advisor | FranChoice
Actionable Trends in Franchising Entering 2022 George Knauf is a highly sought after, trusted advisor to many of the top franchise ownership groups in the world. With over 25 years of experience in both start-up and mature business franchise operations he is uniquely qualified to advise individuals that have dreamed of Building their own empires. Whether you have an existing portfolio or searching for your first franchise, he can help you to pursue your dreams. www.MyPerfectFranchise.com
Some are likely shorter term, others longer term so as we look at growth opportunities we need to keep in mind that one brand may have a shorter optimum investment timeframe than another.
Big trends: American families saved at a very high rate, by some accounts they have put an extra $2Trillion into savings over and above the normal saving rate during the past couple years.
This time of the year the multiunit and multi-brand owners I advise on their growth strategies are winding down the current year and call to ask what the actionable trends are coming up in the next year that they should be positioning their investments for now. 46 Franchising MAGAZINE USA
Currently operating businesses will need to adapt to trends in staffing and supply chain, in most cases these are clear and solvable puzzles, though sometimes require a little creativity from owners and franchisors. Most operating franchises have made these adjustments and are thriving today. As we look at the market there are opportunities that already existed as well as those that are trending upwards now.
They are now spending that money fast, catching up on experiences missed. That travel, dining, shopping, etc is driving the economy and inflation. There are higher costs for some goods and supplies. Employee turnover will be higher as employees are leveraging their new power from being in high demand. Entry level pay will be higher and more
