Still Learning: The International Franchise Association Convention 2016
Chairman Rod Young, and Head of Franchise Recruitment and Brokerage James Young, represented DC Strategy at the International Franchising Congress Convention in San Antonio at the end of February 2016.
There is no doubt that franchising plays a big part in the business economy in Australia. The franchising industry employs over 453,000 people, and contributes $154 billion to GDP. Innovation and constant improvement to the regulations and standards of franchising in Australia are key to its huge success.
At DC Strategy, we understand the need to keep learning and being a part of the international franchising landscape, to see what others are doing (both good and bad).
Always gleaning new information and learning from other people is a huge part of continuing to grow successful franchise businesses.
After coming to the International Franchising Association Convention for over 25 years, our chairman Rod Young notes that “I am still learning something every time I come”.
For a quick snapshot of the event, watch the video below:
Rod’s 5 key takeaway messages from this year’s IFA convention:
“When you think about franchisors such as McDonald's that have been established for over 60 years there is much to learn from the experience of proven and profitable franchise networks and the people who have built these networks.
This search for knowledge, judgement and experience has brought me to the US franchising community since the 1980's.
These are a few of my many observations and experiences:
- Knowledge is everything
With more than 3000 franchises represented at IFA Conventions over the years, the DC Strategy team have learned from the experience of many founders and executives in a huge diversity of businesses that has provided me with a deep body of US and Global franchise knowledge.
- A heads-up on risk management
We have been able to learn from first hand experience the emerging litigation trends and risk management issues in franchising which puts DC Strategy in a superior position to advise both prospective, new and mature franchise systems on their future and provide strategies to drive significant growth while avoiding the risk and pitfalls that have the potential to destroy enterprise value.
- What it takes to build a successful franchise network
With many networks operating over 1000 franchises, many of which have substantial multi-unit franchisees, I have been able to have a practical and on-the-ground view of what it takes to build large national and international franchise networks and the techniques to create several revenue streams and engines of growth including coaching and developing existing franchisees to establish multiple units in their franchise networks.
- Emerging technologies
Brands, digital marketing, PR, and digital & business technology are the future of franchise networks. The millions of businesses in the US and the specialists who advise them have developed a huge body of expertise in these critical sectors of best business practice. We have developed relationships with the leaders in these fields that has allowed DC Strategy to better understand the potential these business techniques can deliver to our clients as well as how to tap the leading-edge of new technologies which are required to succeed in franchising in the future.
- Benchmarking our standards
Most of all I have been able to benchmark the standard of consulting, legal and recruitment, branding & marketing and business technology practices in DC Strategy against the largest franchising market place in the world. I am pleased to say DC Strategy's philosophy, thought leadership and franchise development programs and practices equal or exceed the leaders in the franchising community around the world.
Our reputation has led many US-based franchise networks to seek out DC Strategy and engage our services to help them build better and more valuable franchise networks across the globe.”
We know exactly what it takes to grow a franchise. Many of our clients have come to us with a single location and we’ve assisted their expansion to international networks. Get in touch with us to see how we can help you bring your concept to Australia or expand internationally.