We enjoyed seeing many of our longtime friends and customers at the International Franchise Association Annual Convention in Las Vegas. Attending the IFA Show is a great opportunity for our team at Randal Retail Group to connect in person with so many of our longtime colleagues and stay on top of the many factors that affect both franchisors and franchisees.
The franchise industry’s biggest show of the year did not disappoint as the opening night kicked off with a packed house at Mandalay Bay. The five-day event was filled with presentations, informational sessions, industry discussions, and plenty of networking opportunities. As with many industries, franchising has changed quite a bit in recent years and brands that want to stay competitive in this space need to innovate to stay ahead of the competition – or risk getting left in the dust.
We learned quite a bit at the show and wanted to share these 5 takeaways to help you succeed as well:
When franchisors and franchisees can work together towards the same goal, that’s when success is a win-win for everyone. Team member John Papciak noted, “Collaboration is the key to success. Franchisors are actively taking input from their franchisees to really dial into what’s working and how they can use that information to strategically take their business to the next level.”
As always, restaurants are all about speed. To stay ahead of the competition, fast casual and quick service restaurants need to continue making everything convenient for the customer. Whether customers are ordering online through a restaurant app or running in to pick up a preorder, ease-of-use and convenience are key. Customers expect easy-to-use kiosks, food lockers, and payment systems that are up to speed with the latest technologies. In today’s fast-paced world, anything less is unacceptable.
3. Minimizing Costs
With increased operating costs, business owners are looking for ways to keep their overhead down and their bottom lines up. Increased costs throughout the supply chain can quickly get out of control and blow even the most basic remodel budget. The IFA Show reiterated one of the longtime goals we’ve always had with our customers: because we’re partners in our clients’ success, we aim to keep costs down and on budget through competitive pricing and stocking programs.
Whether a franchise has 10 locations or 50, it’s critical that the brand experience is the same in every location coast-to-coast. This was a key takeaway at several IFA sessions and we’re happy to say that at Randal Retail Group, our customers know they can rely on the same high quality consistency and service in all of our store buildouts. We take care of the details so you don’t have to.
5. On-Time Delivery
We know how stressful it is to be on deadline to open a brand new store or get back up and running again after a remodel. Chasing down millwork should be the last thing a franchisee needs to be thinking of when getting ready to launch. This was a topic covered at the IFA Show, and one we’re very adept at managing through our scheduling system and expert team of project managers.
We’d love to share more about what we learned at the IFA Show and how we can help meet your business objectives. Give us a call to discuss: 630-761-0400← Back to all posts