Here’s our weekly look at what’s going on in the world of franchise!
Consumer Spending Steady And Ready
The surest sign yet that the U.S. is actually out of its recession? Consumer spending is holding steady, and a majority of Americans say they’re planning to buy throughout the rest of 2011.
What does that mean for franchisees and franchisors? Plenty. Given that 43 percent of those polled said they would spend the same amount and 21 percent said they would spend more, it’s reasonable to assume that last year’s Q4 revenues will hold or gain. Add that to the fact that 43 percent of Americans plan to purchase a large appliance or car before the end of the year and you’ve got yourself a recipe for pretty wide-ranging success.
Of course, you can capitalize by identifying your most popular products, offering deals and ramping up your marketing to reel in those cash happy customers. Make sure you do so.
Subway Rolls Out Mobile Payments
I’ve written before about the future of mobile payments, which would seem to be a bright future indeed. An increasingly impatient populace would like nothing better than to be able to wave their phones at readers in order to pay their tabs, as it saves them precious seconds. It’s become a game of seconds, really.
Subway has long been on the cutting edge of trends—healthy eating and tackling the foreign markets, for example—so it’s little surprise they’re out ahead on mobile payments. That’s why they’re setting up some 7,000 locations in the near future with mobile payment system.
It’s a little bit of a gamble, given the cost of the systems, but MasterCard customers will get to enjoy a much easier transaction very soon. We’ll be sure to check back in and see how this is going down the line.
Why Small Businesses Matter
Franchises are basically small businesses with brand power, so this BizEngine post from a week ago will likely be of interest to you.
Other Useful Links