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.