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Methodology

Continuing in the assessment of the impact of current economic conditions on franchisors’ growth, BoeFly released its latest quarterly Franchise Growth Confidence Index. This quarterly report evaluates survey results by measuring franchisor executive confidence related to domestic growth goals. The survey was conducted from February 12 – 25, 2024, and reached nearly 700 CEOs, CFOs, and CDOs of franchised brands across several major industries, including automotive, education, fitness, health/beauty, home services, restaurant, and retail. BoeFly has utilized this data to measure any significant changes in franchisor sentiment regarding the state of franchise growth in the U.S.

Franchise ownership is an excellent fit for small business entrepreneurs who want the freedom to own their business while enjoying the support of a franchise family and an established brand. Financing a franchise purchase can feel overwhelming — that’s why it’s critical to partner with experts who can help demystify the franchise loan process and get your franchise journey off to a good start. 

NEW YORK [February 15, 2024] – BoeFly, the leading financial technology company specializing in franchise funding solutions, announced today that Saladworks franchisees, Celeste and Brian Taylor, have successfully secured funding through BoeFly’s financial lending platform to open their first franchise in Maryland.

NEW YORK – February 9, 2024 – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that Lisa and Kenneth Dorman, new Re-Bath franchise owners, have successfully secured funding through BoeFly’s platform to open their first franchised Re-Beth location in Georgia. The husband-and-wife duo recently relocated from Florida in pursuit of their entrepreneurial dreams of operating a Re-Bath franchise.

NEW YORK [January 19, 2024] – BoeFly, the leading financial technology company specializing in franchise funding solutions, announced today that Grease Monkey® franchisee, Jose Heredia, has successfully secured funding through BoeFly’s financial lending platform to open his franchise in South Texas.

NEW YORK – January 16, 2024 – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that Marlene Garcia, a first-time franchise owner, has successfully secured funding through BoeFly’s platform to open her first franchised Wetzel’s Pretzels location in California.

Pivoting in uncertain times

The findings of the BoeFly Growth Index Survey reveal a fascinating story of challenges within the franchise industry. The fact that we see a drop in confidence from the nation’s C-suite executives is noteworthy – likely driven in part from pressures of inflation and high-interest costs. Despite the difficulties posed by the economy, many sectors have shown remarkable growth and adaptability. The survey results don’t mean that some brands aren’t thriving, but the results should be considered by all as they think about the year in review. These findings, despite showing a healthy skepticism show that even in challenging times, there are ample opportunities for success and growth.

Methodology

To assess the impact of current economic conditions on franchisors’ growth prospects, BoeFly has released its third quarterly Franchise Growth Confidence Index. This latest report, conducted from Nov. 10 to Nov. 28, 2023, requested input from nearly 700 CEOs, CFOs, and CDOs representing a diverse range of industries, including automotive, pet care, education, fitness, health/beauty, home services, restaurant, and retail. Building upon data from the two previous quarterly surveys, the aim was to determine whether significant shifts in franchisor executive confidence regarding domestic growth goals occurred throughout the year. Survey participants were asked to rate their confidence levels on a scale of 1 (not confident) to 7 (completely confident) in achieving their brand’s franchise growth targets for the current year. Subsequently, they were presented with additional questions designed to address pertinent economic concerns and gauge how these factors had influenced their confidence levels since the previous quarter.

Are you an aspiring restaurateur looking to open your own establishment? Or perhaps a current restaurant owner seeking to expand your portfolio? Whatever your restaurant franchise financing needs may be, BoeFly is here to help.

NEW YORK – December 27, 2023 – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that Patrick Ruland, new Buddy’s Home Furnishings franchisee, has successfully secured funding through the BoeFly platform. Patrick brings with him over ten years of experience in the home furnishings business.