Inflation Affects Franchisor Confidence, BoeFly Survey Reports
Fluctuations continue in confidence levels for franchisors as they consider their ability to meet franchise growth goals this year.
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Fluctuations continue in confidence levels for franchisors as they consider their ability to meet franchise growth goals this year.
Just a few of the words describing the current financial climate for pizzeria operators looking to borrow money, largely a byproduct of interest rates surging to levels unseen in nearly two decades.
As concerns over rising interest rates and inflation mount, they’re also dampening the growth outlook among franchisors. Just over half of C-level executives, 54.4 percent, said they are confident their brand will meet its growth goals this year. That’s down from 76.9 percent in April, when executives were surveyed by financial technology company BoeFly, which helps franchisors qualify their applicants and also connects those candidates with lending options.
Inflation, interest rate increases, and other economic factors aren’t dampening the growth outlook for franchisors, as 76.9 percent of C-level executives said they are confident their brand will meet its growth goals this year. That’s according to a new survey from financial technology company BoeFly, which helps franchisors qualify their applicants and also connects those candidates with lending options.
Doug Cullinan has joined loan aggregator and financial technology company BoeFly as senior vice president. He most recently was the SBA franchise lead for Atlantic Capital Bank, and prior to that, SBA national sales director for Paragon Bank, also working in the franchise sector.
Words by Mike Rozman
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