NEW
YORK, July 31, 2024 /PRNewswire/ -- BoeFly,
the leading financial technology company specializing in fueling
franchisor growth, has unveiled its latest findings in the
quarterly Franchise Growth Confidence Index. This is the
fifth survey conducted by BoeFly and designed to gauge franchisor
executives' confidence in achieving brand goals in the face of
current economic conditions.
The survey results reveal a 20 percent drop in whether
franchisors are confident in meeting their growth goals for the
year. While interest rates and inflation continue to be a major
economic concern among franchisors, the percentage of respondents
who felt negatively impacted by interest rates has slightly
decreased by three percent from the previous quarter to a total of
80 percent.
As BoeFly assesses these responses on a quarterly basis, a new
factor highlighted in this survey indicated the impact of the
upcoming presidential election. More than half of respondents,
totaling 54.3 percent, reported that uncertainty surrounding the
election is negatively affecting their growth projections.
"Lingering concerns with interest rates and inflation appear to
be weighing on franchisors who report a drop in confidence this
quarter," said Mike Rozman, CEO and
co-founder of BoeFly. "With this being an election year, we
anticipate the results continuing to further affect confidence
levels in business growth. In keeping a pulse on these factors, we
hope to assist our stakeholders in making informed decisions to
drive their businesses forward."
BoeFly's latest iteration of the Franchise Growth Confidence
Index was conducted from June 7 –
20, 2024, and reached nearly 700 CEOs, CFOs, and CDOs from a
diverse range of franchised brands spanning automotive, education,
fitness, health/beauty, home services, restaurant, and retail
sectors. Through detailed analysis of survey responses, BoeFly aims
to provide valuable insights into the state of franchise growth in
the United States.
For a full report on the Franchise Growth Confidence Index
survey findings, visit boefly.com.
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:
Callie Chambers
Fish Consulting
954-893-9150
cchambers@fish-consulting.com
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SOURCE BoeFly