BoeFly's Latest Confidence Index Reveals Concerns About Rising Interest Rates Among Franchisors

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Jan 08, 2024, 12:47 ET

NEW YORK, Jan. 8, 2024 /PRNewswire/ -- BoeFly, the leading financial technology company specializing in fueling franchisor growth, has unveiled the results of its third quarterly Franchise Growth Confidence Index, shedding light on the evolving sentiment of franchisors during today's economic landscape. This most recent index was used to assess whether significant shifts in franchisor executive confidence occurred throughout 2023, building upon data from the two previous quarterly surveys.

According to the latest findings, franchisors are growing increasingly concerned about the rising interest rates and its impact on their domestic growth goals. The results reveal that only 50 percent of C-level executives expressed confidence that their brand would meet its 2023 growth goals. This marks a significant drop from 76.9 percent in April and a slight decline from 54.4 percent in July. A major contributing factor to this uncertainty is the apprehension surrounding rising interest rates, with 86.7 percent of respondents indicating that current rates are negatively impacting their growth plans.

The comprehensive survey, conducted from November 10 to November 28, 2023, reached nearly 700 franchisor CEOs, CFOs, and CDOs across several major industries such as automotive, education, fitness, health and beauty, home services, restaurant and retail. BoeFly plans to continue conducting the Franchise Growth Confidence Index on a quarterly basis, providing a consistent barometer of franchisor sentiment regarding the state of franchise growth in the U.S.

"At BoeFly, we're committed to providing data that can empower the franchise community to make informed decisions when it comes to business operations. Our quarterly Franchise Growth Confidence Index enables us to provide a current analysis of a variety of external factors that may be impacting business goals," said Mike Rozman, CEO and co-founder of BoeFly. "Through our quarterly survey, we will continue to provide valuable insights into the state of franchising, helping franchisors, investors, and industry stakeholders better understand the challenges and opportunities in today's dynamic market."

For a full report on the Franchise Growth Confidence Index survey findings, visit https://boefly.com/blog/boefly-franchise-growth-confidence-index-3/.

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