Hey everyone, Giuseppe here! Welcome to Part 2 of my conversation with Jason Feifer, Editor-in-Chief of Entrepreneur Magazine. If you missed Part 1, we discussed personal branding and content creation. In this episode, we dive into the prestigious Franchise 500 and explore the impact of AI on the franchise industry.
Inside the Franchise 500
Jason shares an inside look at Entrepreneur Magazine’s highly anticipated Franchise 500 ranking. He explains that the ranking is based on a complex evaluation across categories like costs and fees, size and growth, support, brand strength, and financial stability. He emphasizes that it’s not just a list, it’s a ranking based on data and analytics, not editorial opinions. You can find the Franchise 500 every January at entrepreneur.com/franchise500 and on newsstands.
Emerging Categories
Jason points out that new categories within the Franchise 500 highlight areas of growth and opportunity. This year, for example, Mediterranean food, Hawaiian food, and pet grooming have been added as new categories. This shows that there is a demand for these types of businesses and that they are growing within the franchise world.
AI: The New Tool in the Box
AI is changing the business landscape, and it’s essential to know how to use it effectively. Jason argues that AI, like a microwave, is a powerful tool, but not for everything. He suggests that you should use AI to enhance customer experience and streamline processes, but not rely on it solely. He also notes that AI will never be top down, and it needs to be seen from a grassroots approach.
Ready to Explore Franchise Opportunities?
If you want to know how to succeed in the franchise world, you need to take notes from Jason. You can learn more about his journey and work on LinkedIn. He’s always got some great things to say!
➡️ Take the Right Fit Quiz to find franchise opportunities that match your goals and lifestyle: https://ggthefranchiseguide.com/right-fit/
What are your thoughts on emerging trends in franchising? Share your feedback in the comments.
