Franchise Thought Leaders Offer Insights to Guide Prospective Franchisees Before They Invest
Investing in a franchise is an exciting, life-changing decision. Business ownership allows entrepreneurs to become their own bosses and have greater control over their financial futures. With proven systems to follow and a community of other business owners to lean on for support, franchise ownership saves investors time and effort, and limits the uncertainties involved in starting a concept from scratch.
For these and other reasons, franchise ownership continues to appeal to entrepreneurs, as evidenced by the 12,000 franchise businesses projected to launch this year, according to the International Franchise Association’s Franchising Economic Outlook report. Total economic output from franchising is predicted to exceed $921.4 billion in 2026, according to the study.
Franchising offers a wide variety of industries, business models and investment ranges. Beyond these considerations, prospective franchise owners should be mindful of the qualities of a strong franchise that are applicable for all brands.
The following franchise thought leaders offer their insights into some of the characteristics of a strong franchise system and what entrepreneurs should look for before making an investment decision.
Bottom row, from left to right: Carl Udler, Larisa Walega, Alissa Pavano
Red Boswell
“Franchisees should look for brands with strong corporate financials. Dedicated field coaches, accountability, support and clearly communicated operations standards are also important.” — Red Boswell
Monica Feid
“A successful franchise system must have a strong focus on unit-level economics. Outstanding networks are hyper-focused on supporting franchisees. Awarding agreements to grow unit count is only the beginning; the performance of those franchisees is where happiness truly shines.” — Monica Feid
Jake Feury
“Every franchise should connect within their local communities to build trust, build a foundation of commitment and provide a quality and consistent product.” — Jake Feury
Andreea Stefanescu
“A strong brand, great vision, leadership, solid infrastructure and risk management enable quality, sustainable growth. As franchise networks grow through the various stages, the most successful invest in well-grounded operational processes and resources that enable growth, but also provide strong controls and consistency. Furthermore, a robust risk management framework helps protect both the franchisors and franchisees.” — Andreea Stefanescu
Carl Udler
“A good franchise system treats its franchisees as customers and partners, helping them build profitable, sustainable businesses. That commitment starts between signing and opening day. Helping stores open on time, or even 30 to 90 days early, builds confidence and allows revenue to begin sooner. After opening, strong systems continue to offer practical coaching, effective tools and responsive support while listening to franchisee feedback. Ultimately, their success is measured by franchisee profitability, customer satisfaction and the strength of existing locations.” — Carl Udler
Larisa Walega
“The qualities of a strong franchise system include having a leadership team that has a drive for innovation, a customer-centered mindset and a skill set that connects strategic planning to profitability.” — Larisa Walega
Alissa Pavano
“I believe the strongest franchise brands have that special ‘it’ factor — something that immediately sets them apart. The brands that stand out combine creativity, culture and a strong, recognizable aesthetic with a business model that solves a real need and creates a meaningful experience within the communities they serve. Transparency, strong leadership and the ability to evolve with the market are equally important. Ultimately, the best franchise brands create a true partnership where both the franchisor and franchisee are invested in building long-term success together.” — Alissa Pavano
