The second day of IFE 2022 was possibly even busier than the first, with streams of engaged guests visiting franchisors, suppliers, and advisors to learn more and maximize their time at this exciting event.
We were certainly busy on the Global Franchise booth, with our tall stacks of free magazines needing replenishing often throughout the day. International franchising is most certainly back, and events such as these are the perfect place for experts and newcomers alike to connect, network, and build new relationships.
Here’s a rundown of some of the day’s main talking points.
FRANCHISING BEYOND 40
- Moderator: Boynton Weekes, FranNet
- Leslie Chiorazzi, CMIT Solutions
- David Fischer, Sandler Training
- Sharon K. Richter, FocalPoint Coaching
Following an introduction from Elayne McClaine, in which she discussed the work that the New Jersey Small Business Development Center does for first-time business owners and established operators alike, this session shifted into a panel discussion about the virtues of franchise ownership and why fear of failure shouldn’t put off first-time operators.
The common sentiment among the panelists was that they didn’t want to work for somebody else and propel somebody else’s dreams, and instead chose franchise ownership as a way of taking back control of their professional careers.
They also touched on identifying which brand is the right choice for you; specifically, Sharon K. Richter spoke about how she initially progressed with a franchise opportunity that ultimately fell apart, but this wasn’t a disaster as it led her to discover FocalPoint Coaching and helped her to know what questions to ask in the research stage.
David Fischer also advocated for the community nature of a franchise brand, and how this level of support can make all the difference for would-be business owners. “Everybody in the Sandler network has the mentality of wanting each and every franchisee to be successful,” he said.
METAVERSE & NFTS: THE FUTURE OF FRANCHISING
- Speaker: Andre Kay, Sociallybuzz
One of the concluding sessions from today’s program focused on an area that we’ve covered previously for Global Franchise: the metaverse. Specifically, tech-driven Andre Kay introduced the possibilities for brand expansion through this emerging technology, and shared examples of brands that have already embraced the digital realm.
In a unique panel that saw Andre co-present via an Oculus headset with his business partner Charles Smart, who was based in Miami, the pair walked the audience through the current state of virtual reality integration for brands. They began by introducing topics such as Web 3.0 and decentralization, before sharing some timely stats about the tech.
For example, it’s estimated that by 2026, a quarter of the world’s population will spend at least one hour every day within the metaverse; this could be for shopping, entertainment, or other leisure activities.
Transitioning from these stats, the duo showcased Franchise Funverse: a virtual world built in Meta’s Horizon Worlds that enables users to play games with each other and gain points that can be spent on virtual or real-world goods. While still in its early stages, the Franchise Funverse concept was an example of how brands can directly engage with their consumers in a virtual setting.