BoeFly Franchise Growth Confidence Index Shows Positive Shift in Franchisor Sentiment

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Mar 27, 2024, 13:33 ET

NEW YORK, March 27, 2024 /PRNewswire/ -- BoeFly, the leading financial technology company specializing in fueling franchisor growth, has unveiled its latest findings in the quarterly Franchise Growth Confidence Index. This is the fourth survey conducted by BoeFly and designed to gauge franchisor executives' confidence in achieving brand goals in the face of current economic conditions.

The latest survey data reveals a notable uptick in overall confidence levels among respondents, with 66.7 percent of franchisor executives expressing confidence in meeting growth goals for the year, up from 50 percent in the previous quarter. Despite this, interest rates remain a persistent concern, affecting confidence levels for 83.3 percent of respondents. Additionally, 75 percent cited inflation as a significant impediment to growth, with 87.5 percent agreeing that it has led to increased cost estimates in Franchise Disclosure Documents (FDDs).

"Despite ongoing economic challenges, the notable increase in overall confidence levels underscores the resilience and adaptability of the franchise community," said Mike Rozman, CEO and co-founder of BoeFly. "By leveraging these insights, our hope is that industry stakeholders can make informed decisions to drive sustainable growth within their respective brands and prosperity for the franchising sector as a whole."

BoeFly's latest iteration of the Franchise Growth Confidence Index was conducted from February 12-25, 2024, and reached nearly 700 CEOs, CFOs, and CDOs from a diverse range of franchised brands spanning automotive, education, fitness, health/beauty, home services, restaurant, and retail sectors. Through detailed analysis of survey responses, BoeFly aims to provide valuable insights into the state of franchise growth in the United States.

For a full report on the Franchise Growth Confidence Index survey findings, visit https://boefly.com/blog/boefly-franchise-growth-confidence-index-4/.

About BoeFly
Founded in 2009, BoeFly is a leading financial technology company that continues to deliver innovative online tools and solutions to accelerate business forward. Led by a team of franchising and finance industry experts, BoeFly specializes in identifying gaps in the marketplace and creating customized solutions to meet changing needs. The company has developed a proprietary Franchise Sales and Finance System to meet the core needs of franchise brands and small businesses throughout the entire process, from vetting franchise candidates to matching them with lenders who can move fast.

Through its data-driven system and robust online marketplace, BoeFly is able to connect borrowers to a wide array of banks and specialty finance companies, which has accommodated over $7 billion in transactions and supported more than 600 unique franchise brands. BoeFly's pioneering technology and products have allowed the company to offer flexible options and serve businesses at all stages of development, from established brands with thousands of locations to emerging franchisors and startups. For more information, visit www.boefly.com.

Contact:
Morgan Gordon
Fish Consulting
954-893-9150
[email protected]

SOURCE BoeFly