2011 Annual Franchise Development Report shows steady growth
The Franchise Update Media Group (FUMG) has announced that the 2011 Annual Franchise Development Report (AFDR) shows steady growth, based on improvements over last year in two key performance metrics - franchise leads and franchise sales. According to the information provided, the AFDR is an annual survey of CEOs and senior development executives conducted by FUMG to provide a comprehensive research guide to sales and lead generation in franchise recruitment.
“There have been some noticeable improvements in performance by franchisors over the prior year,” said Steve Olson, publisher and chief development officer for FUMG. “In 2010, 39% of our respondents reported that leads were up, a 9% improvement over last year, and 19% reported that they are exceeding their sales goals, a 10% increase from 2009.”
FUMG is one of the leading industry resources for franchise development. The 2011 AFDR includes survey results from 126 franchisors representing more than 42,000 units (38,563 franchised and 3,528 company-owned). According to FUMG, the AFDR is ideal for benchmarking and building budgets and media plans for franchisors, development consultants, and advertising and marketing suppliers.
“The market has bottomed out and is coming back,” Olson said. “This report identifies the top sales producing sources and benchmarks for building budgets, measuring costs and determining overall closing ratios. Smart franchisors are making the necessary adjustments that have enabled them to meet their growth objectives even in this tough economy.”
Founded in 1988, Franchise Update Media Group (FUMG) produces online franchise sites, magazines, research, books and conferences in franchising. Targeting franchise audiences online, in print and in person, FUMG delivers a combination of education and lead-generation sources that helps franchisors, multi-unit franchisees and suppliers achieve their growth objectives. (kbp)