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2017 Trends that are Impacting Franchises

Time is always flying by, and we are almost halfway through 2017. As we watch the era of Baby Boomers fade into retirement, and the age of Millennials hit maximum impact, we are seeing some interesting trends materialize, especially as the workforce welcomes Generation Z.

Have you seen the impact of these trends on your business so far this year?

 

One of the biggest trends of 2017 has been a move for improvement in company culture, and the ultimate employee experience. As a franchise, it will prove a challenge to adapt some of those new ideologies, while also adhering to the franchiser’s overall company brand.

A Subway restaurant may ensure you get the same sandwich no matter which location you visit, but can you say the same for the service you receive?

Be the employer who treats your employees as more than names on a list – encourage retention and satisfaction by introducing a unique rewards system, non-monetary encouragement and dedication to creating the best workspace you can.

A company culture based on satisfied and nurtured employees cultivates the best retention rates.

Reputation and longevity will continue to be key performance factors that invite new franchisees to the markets.

Now let’s address those newcomers. Generation Z, defined as those born in 1998 or later, is now infiltrating the work force, for better and for worse!

This diversity trend is continuing to make an impact this year. With three different generations making up your staff, managerial responsibilities will require more finesse than usual.

 Make sure you are prepared by investing in human resource training and now more than ever, being diligent in hiring practices, training and support of staff.

Lastly, we are seeing the rise of the super-franchise. Think of this as the race for the big buy up; packaging industries into one, easy-to-manage, and multi-industry platform.