Shaping the Franchise Model If we apply advanced technology, improved customer access, and greater convenience to this industry, we find many new offerings.
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he franchise landscape is changing quickly. New business opportunities are emerging within traditional industries, creating what we refer to as disruptions. This is good news for both sides of the franchise model. Companies ready for expansion can more easily consider franchising, and entrepreneurs eager to own a business can find a greater range of opportunities. What is causing this shift, this disruption? Simply put it’s due to advances in science and technology. Advances in science and technology are allowing businesses to develop innovative new products, attract a greater number of customers, and provide increased convenience to those customers. What this means is traditional offerings are being broken 10 FRANCHISE CONNECT | SEP-OCT 2019
down into highly convenient and customized products and services consumers can purchase with the touch of a button. The fitness industry is one example
PHOTO BY BRUCE MARS FROM PEXELS
By Rick Morgin
where we see disruption and opportunity. If you think about traditional fitness service offerings, Big Box gyms come to mind. If we apply advanced technology,
PHOTO BY VICTOR FREITAS FROM PEXELS
HOW TECHNOLOGY AND CUSTOMERS ARE
