Invest in a popular franchise brand at a US exhibition
McDonald’s, Subway, Domino’s Pizza … many of the most well-known and popular franchises have originated from the US, making it one of the world leaders when it comes to franchising.
Not only has the US been instrumental in helping to popularise the concept of franchising, but one of the industry’s oldest regulatory bodies, the International Franchise Association (IFA), was founded and is based in the country.
Although emerging economies, such as Brazil and India, have seen a boom in franchising over the last few years, in terms of jobs created and its impact on the country’s GDP, the US is still at the forefront of the industry. According to statistics released by the IFA, in 2007 there were 828,138 franchise business establishments in the US and franchise businesses provided over 9 million jobs.
On this side of the Atlantic, some of the biggest brands in the UK were originally founded in the US, for example Domino’s Pizza has over 500 stores in the UK, 47 of which are located in Scotland. Furthermore, US brands are entering the UK market constantly, for example Right at Home, a US-based senior home care franchise, expanded into the UK last year.
For those entrepreneurs who are looking to bring a US franchise to this country, but who don’t know how to begin the process, attending a franchise exhibition in the US could prove beneficial. This is because visiting an exhibition will enable prospective franchise owners to see what opportunities are available, speak to the franchisor or brand representative face-to-face, and may even allow them to visit franchise locations or the head office of brands they are interested in.
For Scotland-based franchisors who feel that their concepts have the potential to successfully expand into the US market, attending a franchise exhibition in the country could also prove to be a valuable experience. Visiting an exhibition will provide the franchisor with the opportunity to see what the competition is like, help to make contacts in the country, and get an insight into how the franchise industry operates in the US.
Compared to attending a franchise exhibition in the UK, visiting one in the US will involve higher travel costs and will require more time spent getting to and from the event. To ensure that it is not a wasted trip, those considering attending should thoroughly research the event to make sure it will be beneficial to their franchise plans.
Below is a list of some of the biggest franchise exhibitions and events that are planned to take place in the US over the coming years:
The West Coast Franchise Expo, Los Angeles
November 4-6, 2011
Franchise Expo South, Miami
January 20-22, 2012
IFA Franchise Convention, Orlando
February 11-14, 2012
International Franchise Expo, New York
June 15-17, 2012
IFA Annual Convention, Las Vegas
February 17-20, 2012
Written by Derin Clark