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To further measure the impact of current economic conditions on Franchisors’ growth, BoeFly has released its second quarterly Franchise Growth Confidence Index. The second iteration of this report was conducted from July 7-18, 2023, and surveyed nearly 700 franchisor CEOs, CFOs, and CDOs through SurveyMonkey across several major industries, including automotive, education, fitness, health/beauty, home services, restaurant and retail.
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.
In an effort to measure the impact of current economic conditions on franchisors’ growth, BoeFly has created the quarterly Franchise Growth Confidence Index to assess franchisor executive confidence related to achieving their domestic growth goals. The inaugural Index was conducted online from April 4 – April 16, 2023, and surveyed nearly 700 franchisor CEOs, CFOs, and CDOs across several major industries, including automotive, education, fitness, health/beauty, home services, restaurants, and retail.