Novel
Perspective
Comprehending the Emerging Trends in Franchising How Franchise is Becoming a Booming Business Model?
Insights
Transcending in the Future with Business Transformation
Thefranchisebusinessmodelhasbeenapopular
methodofbusinessexpansionformanyyears. Franchisesystemsrelyonstandardizedoperations, whichmeansthatfranchiseesarerequiredtofollowasetof predeterminedrulesandguidelines.Thisensures consistencyacrossallfranchiselocationsandhelps maintainqualitystandards.Asaresult,thefranchise businessmodelhasenablednewadvancementsinthe developmentofstandardizedproducts,services,and processes.
Franchisesystemsencourageinnovationatboththe franchisorandfranchiseelevels.Franchisorsareconstantly lookingfornewwaystoimprovetheirsystemsandoffer betterproductsandservices,whilefranchiseeshavethe flexibilitytoadapttheirbusinessestolocalmarketsand customerneeds.Thisencouragesacultureofinnovation andcontinuousimprovement.
Franchisesystemsencouragecollaborationbetween franchisorsandfranchisees,aswellasamongfranchisees themselves.Thisfosterstheexchangeofideasandbest practices,whichcanleadtonewadvancementsinthe industry.Additionally,franchisorsoftenhavededicated researchanddevelopmentteamsthatworktoidentifynew trendsandtechnologiesthatcanbenefitthefranchise systemasawhole.
Afranchisemodeloftenprovidesfranchiseeswithaccessto capitalthattheymaynothavebeenabletoobtainontheir own.Thisenablesthemtoinvestintheirbusinessesand takeadvantageofnewadvancementsintechnologyand otherareas.Atthesameinstance,thefranchisebusiness modelhasplayedasignificantroleinenablingnew
advancementsinthedynamicbusinessarenabypromoting standardization,innovation,collaboration,andaccessto capital.
Showcasingtheestablishmentsthatarestandingoutasthe perfectoptionsforentrepreneurslookingtostartabusiness, likeanestablishedbrandandprovenbusinessmodel, InsightsSuccessspotlights'The10BestFranchisesto Openin2023.’
Flipthroughthepagesandindulgeintheaspectsthatare redefiningthefundamentalsoftheever-evolvingbusiness arena.Haveadelightfulread! AbhishekJoshi
NoteEditor’s
Bringing Plans to Reality
Hospitality Management Holding (HMH) announces signing of Hotel Management Agreement for Corp Yanbu Hotel and Residence, a magnificent coastal hotel in Saudi Arabia
Deputy Editor
Abhishek Joshi
Visualizer
David King
Senior Sales Manager
Sihanee M., Rouniyar A.
Marketing Manager
Editor-in-Chief
Merry D'Souza
Executive Editor Assistant Editors
Anish Miller
Shreyas Navpute, John Matthew
Technical Head
Jacob Smile
Technical Specialist
Prachi Mokashi
SME-SMO Executive
Sagar Lahigade
Circulation Manager
Robert Brown
Revati Badkas Jenny Fernandes
Art & Design Director Associate Designer
Ankita Pandharpure
Business Development Manager
Peter Collins, Saurabh Mane
Sales Executives Krutant
Business Development Executives
Joe, Jordan
Digital
Marketing Manager
Dominique T.
Research Analyst
Frank Adams
Database Management
Stella Andrew
sales@insightssuccess.com
February, 2023
Technology Consultant
David Stokes
FeaturedPerson
Brief Company
GaryMa COO Epik epik.gg
HospitalityManagement Holding hmhhotelgroup.com
PatrickAntaki ChiefOperatingOfficer
JamesHickey CEO LifesizePlans lifesizeplans.com
PickUpUSAFitness pickupusafitness.com
TheSaundersPRGroup thesaunderscompany.com
JordanMeinster FounderandPresident
E.GayleSaunders FounderandCEO
Epikdesignsandbuildsblockchainarchitecture,middleware andAPI,paymentarchitecture,etc.
HospitalityManagementHoldingisafullyintegratedpioneer hotelmanagementcompanyspecializedinthedrysectorand withanexpandingportfolioacrosstheMiddleEastandNorth Africa.
LifesizePlansownstheworld'sfirstpatentedrealscale walkthroughtechnology,whichhaschangedthewaypeople designandconstruct.
PickUpUSAFitnessisthefirstandonlybasketball-focused fitnessclubconceptoperatingintheUnitedStatesandwas foundedtocreateabetterwayforpeopletoplaybasketball.
Withaportfolioofhigh-profileclients,TheSaundersPRGroup deliversstrategiesfromconceptiontoexecutionthattransform organizationsfromwithinandhavearippleeffectacross communities.
Bringing Plans to Reality
We provide collaborative spaces, where the real world meets the digital world.
James Hickey CEO, Lifesize Plans
Startinganewbusinessfromscratchisjustan
extendedversionofopeningafranchise,requiring additionalinvestmentsofeffortandresources. Franchisingenablesyoutoindulgeyourselfinabusiness withouthavingtotakethelongrouteofstartingfrom absolutelynothing.Butthequestionthatpondersthemost whileembarkingonthejourneyofestablishingafranchise is‘which franchise to choose?’
Notallbusinessisforeveryoneandanyone.Certainties suchasgoals,vision,mission,historyoftheindustry, previoustrackrecordofthebusiness,andmoderntrends mustbekeptinmindbeforedivingintotheventure.And onesuchemergingmodernfranchisingtrendthatisonthe goodsideoftheabove-mentionedcertaintiesistheindustry of Architecture and Planning Thissectorenablesundertakingartisticendeavorswhilealsopertainingtothetraditional businessjargonasinnovationisalwaysatitsdoorstep.
Withthatbeingsaid,theperfectfranchisorinthisindustry thathasinnovationatitsfingertipswhilealsoproviding spacesconnectingpeople,design,andinnovationis LifesizePlans.
LifesizePlanshascommercializedtheworld’sfirst-ever patentedfull-scalehomewalkthroughtechnology,whichis revolutionizingthedesignandconstructionindustries.Itis onagrowthtrajectoryonaglobalscalewithmultiple internationallocationsintheplanningwiththeheadoffice locatedinSydney.LifesizePlanslaythefoundationsfor growthandassistinhelpingthousandsdesign,build,and realizetheirdreams.
Togathermoreinformationabouttheindustryandtoknow moreaboutthebusinessanditsaccomplishments,Insights SuccesshadaninterviewwithLifesizePlans’CEO,James Hickey.
Below are the highlights of the interview:
Whatwastheinitialideabehindtheinceptionof LifesizePlans?
LifesizePlanswasbornin2017.Fastforwardfiveyearswe nowhavepatentedprojectiontechnologytofloormapthe planandblowituptoLifesize,soclientsbuildingtheirown homecouldwalkontheirplanasitwouldbebuiltLifesize andallowthemtovisualizeandidentifychangesthey
The 10 Best Franchises to Open in 2023
neededtomakebeforeconstructionbeginswhichinthen savestimeandmoney
Whataretheprimaryobjectivesandphilosophyof LifesizePlans?
Wehaveourobjectivessettoprovideacollaborativespace connectingpeople,design,andinnovationandtobecome anintegralpartofthedesignprocessonaglobalscale, enablingthepeopleoftheworldtobringtheirplanstolife.
Ourcorevaluesarehelpingourcustomersvisualizeand realizetheirdreams,providingateamtodeliverthrough collaborationwhilstbuildingindustrypartnerships,leading andidentifyinginnovationwithourglobalnetwork.
Whatareyourtop-notchofferingsthathaveastrong footholdintheindustry?
Residential,commercial,andretailwalkthroughs.Wework withvolumeandcustombuilders,landscapeandpool designers,architectsandinteriordesigners,ownerbuilders, andmore.Forlarge-scalecommercialandretail walkthroughs,haveyourstakeholders,construction,and designteamonthesamepageandcollaborateatour showroomandexperiencetheprojectinLifesize.
Anydesigner,architect,orbuildercanbringtheirpersonalizedlaptopandsoftwareandplugintoourpatented technology,allowingthemtomakelivechangeswhilstthe clientisstandingontheir1:1floorplan.
WealsoexhibitintenseexpertiseinSalesandnetworking events.Wemakeuseofourstate-of-the-artfullAV technologyandcateringoptionsforafullyimmersive experienceforyourguests.
OurothercommendableserviceisLifesizeReality.We provideaspaceatourshowroomwheretherealworld meetsExtendedReality(Augmented,Mixed,andVirtual Reality).
Oncetheplansarefinalized,weprovidethefacilityof immersingtheprojectdesignintheworldofMetaverse. OnecanstandinsidetheirLifesizemodel,buildwalls,test furniture,selectcolors,andspecifyaswellasseethefiner details.Thisimpliesthatonemeetstheircomplianceand regulationsatLifesizePlans.
WhataretheroadblocksthatLifesizePlansfacesinthe ever-changinglandscapeofthebusinessworld?
ThebiggestchallengethatwehadtomanagewasintegratingLifesizePlansintothedesignprocessatanearlystage, soourtruevalueisseeninbeingabletooptimizeour customer’sspace.Thisistomakesurethatclientsgetthe mostoutofpersqm/sqft.
Howisyourcompanyadaptingtomarketorientation?
AtLifesizePlans,wearedevelopinglocalizedstrategies throughourfranchisenetworktoensurelocalrelationships areformed,creatinglong-termbenefitsforthedesignand constructionindustry.
Whatisyourstanceonimplementinginnovative technologies?
LifesizePlansisaveryforward-thinkingbusinessandwill stayaheadofthemarketwithourindustrypartnershipsand continuousresearchanddevelopment.Watchthisspace!
Inwhattraditionsisyourcompanycontributingtothe communities?
LifesizePlansisanemergingbrandwithgrowingrelationshipsincommunityengagement.Weareonthepathto creatingtraditionsandtrueglobalchangebyproviding collaborativespacesconnectingpeople,design,and innovation.
WhatisthenextchapterforLifesizePlans?
ForecastingtogrowtheLSPBrandwith20locations openingoverthenext12monthsaroundtheworldisour upcominggoal.
Provideafewcustomer/clienttestimonialsthatrightly exhibityourcompany'sexpertiseinthemarket.
Quickerdecisionsandengagingexperience.
"Having spent many years delivering commercial and retail fit-outs, one of the hardest aspects of my role is communicating proposed layouts to a broad range of clients. I would
highly recommend that any designer or project delivery team, whether in retail, commercial or residential, consider using Lifesize Plans WA to project their plans and be able to discuss options, make quicker decisions, and provide an engaging experience for the client,"
- AlastairDixon,SeniorProjectManager–BGIS.
Savedthousandsofdollarsandheadaches
"Lifesize Plans WA has been a huge part of the process at Chross Homes & Developments. Having Lifesize Plans as another “checking point” will give them that extra reassurance that everything is how they envision it. Not only does the experience bring another level of excitement to the build process, but it has also saved some of our client’s thousands of dollars and headaches along the way We will continue to keep Lifesize Plans WA as a part of our pre-construction process, and we would highly recommend it to anyone looking to build,"
- ChrossHomes&Development
“I found the experience of walking through the Lifesize Plans outline of my renovation to be so rewarding in terms of seeing how the spaces felt in terms of flow and where I knew adjustments had to be made before anything was started. This has saved me time, money, and future regrets. The staff were so helpful and knowledgeable and confirmed where problems were and likely solutions that could be applied. I walked away with confidence in my solutions and that all my doubts were cleared. The boost in confidence was enormous. Highly recommend this experience to everyone doing the building, whether new or renovating,”
- DebFisher
E. Gayle Saunders
Leading With Compassion and Cultural Understanding Post-Pandemic
Thepandemichasbroughtunprecedented
challenges,forcingorganizationstoadaptquickly tonewwaysofoperatingandcommunicatingwith stakeholders.AsPRprofessionals,wehaveaunique responsibilitytonavigatethesecomplexitieswithempathy, understandingandsensitivitytoculturaldifferences.
Aswecontinuetorecognizetheimpactofglobal pandemicsonourworkforce,itisimperativetoleadfroma spaceofcompassion,whileatthesametimeunderstanding culturalmoralsandvalues.Asapublicrelationsexecutive, Ibelievethatcompassionateleadershipisessentialfor buildingtrustandcredibilitywiththosewithwhomwe interactandthatincludesouremployees.Itinvolves demonstratingempathy,understandingandsensitivity towardstheconcernsandneedsofothers.Thisapproachis particularlyimportantduringapandemicandacrisis,as peoplearedealingwithheightenedanxiety,fearand uncertainty.Publicrelationspractitionersmustbeableto empathizewiththeconcernsofouremployees,justaswe doinourworkwithstakeholderstoprovideaccurate, timelyandtransparentinformationthataddressestheir needsandconcerns.
Culturalcompetencyisalsocrucialduringthesetimes,asit enablesPRprofessionalstocommunicateeffectivelywith diversestakeholders,includingemployees.Thismeans understandingculturaldifferences,includinglanguage, communicationstylesandsocialnorms.Italsoinvolves beingawareofthehistoricalandsocialfactorsthatshape communities'experiencesandperceptions.Publicrelations practitionersmustbewillingtoadapttheircommunication strategiestomeetthechangingneedsandexpectationsof stakeholdersduringapandemic.Thismayincludeusing
About the leader
E. Gayle Saunders, APR is the Founder and CEO of The Saunders PR Group. She is a speaker, and highly sought-a er panellist to speak on crisis communica ons, diversity in PR and living your best life. She has earned recogni on and awards for her leadership in the area of Public Rela ons, including C-Suite Execu ve of the Year – Small Business – Columbus Business First, 2022; Legacy Builder of the Year – WCEO, 2022; Ohio History Maker – Spectrum News, 2022; CSR & Diversity Award, Honorable Men on for Ally Award & Changemaker Award Honoree – PR News, 2021; PRISM Award for Excellent PR Strategy – PR Society of America, Central Ohio, 2019, 2020, 2021, 2022; Woman of Achievement Award –YWCA, 2020; Communica ons Award – The Communicator Awards, 2019; “My Brother’s Keeper” Award – Greater Columbus Basketball Legends Associa on, 2019; Public Rela ons Professional of the Year (First Person of Color to Receive Award) – PR Society of America, Central Ohio, 2018; Who’s Who in Black Columbus, Top Execu ve – 2008-2022; Forty Under Forty Award – Business First, 1995.
newcommunicationchannels,suchassocialmediaor virtualtownhalls,toreachaudienceswhoareunableto attendin-personevents.Itmayalsoinvolvecollaborating withcommunityleadersandorganizationstoensurethat messagingistailoredtothespecificneedsandconcernsof differentcommunities.Byunderstandingthesefactors,PR professionalscantailormessagingtobemorerelevantand resonantwithallofthosewithwhomweengage–internal toourorganizations/businessesandexternalstakeholders.
Thereareseveralkeycharacteristicsthatareassociated withcompassionateandculturally-focusedleadership. Theseinclude:
Ÿ Empathy:Compassionateleadersareabletoput themselvesinotherpeople'sshoesandunderstandtheir perspective.Theyareabletolistentoothersandshow genuineconcernfortheirwell-being.
Ÿ Kindness:Compassionateleadersarekindand considerate.Theytreatotherswithrespectandare willingtogooutoftheirwaytohelpthosewhoare struggling.
Ÿ Understanding:Compassionateleadersunderstandthat everyoneisdifferentandthatpeoplehavedifferent needsandpreferences.Theyareabletoadapttheir leadershipstyletomeettheneedsofdifferent individualsandgroups.
Ÿ Communication:Compassionateleadersareeffective communicators.Theyareabletolistentoothersand communicatetheirownthoughtsandideasclearlyand effectively.
Ÿ Support:Compassionateleadersprovidesupportand encouragementtotheiremployeesandcustomers.They arewillingtoofferhelpandguidancewhenitisneeded, andtheyareabletocreateasenseofsafetyandsecurity.
Ÿ Trust:Oneofthekeybenefitsofthisleadershipstyleis thatithelpstobuildtrust.Whenemployeesand customersfeelthattheirleadersgenuinelycareabout theirwell-being,theyaremorelikelytotrustthemand bewillingtofollowtheirlead.Thistrustcanbe invaluableduringchangeandacrisis.
Compassionateandculturally-focusedleadershipisa leadershipstylethatemphasizestheimportanceofempathy,
kindnessandunderstanding.Itisaleadershipstylethat recognizestheimportanceofemotionalintelligenceandthe needtosupportandencouragethosearoundus.Don’tget mewrong,itisnotaboutreducingstandardsoroperational standards.Itisaboutcreatingaspacewherepeoplefeel valued,heardandconsidered.
Leaderswhoareabletodemonstrateempathyandkindness towardstheiremployeesandcustomersarebetterequipped tonavigatethechallengesofchangeanditsupportsgrowth andrevenuegeneration.
Compassionateleadershipcanalsohelptoreducestressand anxiety.Leaderswhoareabletodemonstrateempathyand understandingcanhelpcreateasenseofcalmandstability thatisessentialduringchangingtimesaswellasduringa crisis.
Furthermore,thistypeofleadershipcanfosterasenseof communityandconnection.Duringtimesofcrisis,itis importanttocometogetherandsupportoneanother Leaderswhoareabletocreateasenseofcommunityand connectionamongtheiremployeesandcustomerscanhelp topromoteresilienceandwell-being.
Tobeeffectiveinthisrole,PRprofessionalsmustleadwith compassionateleadershipandculturalcompetency.This involvesdemonstratingempathy,understandingand sensitivitytowardsstakeholders'needsandconcerns,being awareofculturaldifferences,andtailoringmessagingto differentcommunities'needs.Bydoingso,PRprofessionals canbuildtrustandcredibilitywithemployeesand stakeholdersandhelpensurethateveryonehasaccesstothe informationandresourcestheyneed.
Inclosing,acompassionateandculturally-focused leadershipstyleisessentialeveryday,especiallyduring significantchangesandduringacrisis.Leaderswhoare abletodemonstrateempathy,kindness,culturalcompetency andunderstandingcanbuildtrust,reducestressandanxiety, fosterasenseofcommunityandconnection,andpromote resilienceandwell-being.Byprioritizingcompassionand emotionalintelligence,leaderscanhelptoguidetheir organizationsthroughanychallengeandemergestronger ontheotherside.
FComprehending the Emerging Trends in Franchising
Comprehending the Emerging Trends in Franchising
ranchisinghasbeenapopularbusinessmodelfor
decades,offeringaspiringentrepreneursthechance tostartabusinesswithaprovenconcept, establishedbrand,andongoingsupport.However,likeany industry,franchisingisconstantlyevolving,andkeepingup withemergingtrendsisessentialtosuccess.Inthisarticle, we'llexploresomeoftheemergingtrendsinfranchising andwhattheymeanforfranchisorsandfranchisees.
Franchisingisabusinessmodelinwhichafranchisor grantstherighttouseitsbusinessmodel,branding,and productsorservicestoafranchiseeinexchangeforfeesand royalties.Franchisinghasseveralbenefits,bothfor franchisorsandfranchisees.
BenefitsforFranchisors:
Expansion:Franchisingallowsfranchisorstoexpandtheir businessquicklywithouthavingtoinvestsignificantcapital ortakeontheriskofopeningnewlocationsthemselves. Brand recognition: Franchisingallowsfranchisorstobuild
brandrecognitionandincreasetheirmarketshareby leveragingtheeffortsoftheirfranchisees.
Revenuestreams:Franchisorscangeneraterevenuestreams throughinitialfranchisefees,ongoingroyalties,andthe saleofproductsandservicestofranchisees.
Control:Franchisorscanmaintaincontrolovertheirbrand andbusinessmodelwhiledelegatingoperational responsibilitiestotheirfranchisees.
Non-TraditionalLocations
Traditionally,franchisebusinesseshaveoperatedfrom brick-and-mortarlocations,butinrecentyears,we'veseena shifttowardsnon-traditionallocations.Thesecaninclude mobileunits,kiosks,andpop-upshops.Non-traditional locationsallowfranchiseestoreachcustomersinnewand innovativeways,andcanbeacost-effectivewaytotestout newmarkets.
TechnologyIntegration
Technologyisbecomingincreasinglyimportantinall aspectsofbusiness,andfranchisingisnoexception. Franchisorsareinvestingintechnologytoimprove efficiencies,betterengagewithcustomers,andprovide franchiseeswithbettersupport.Thiscanincludeeverything frompoint-of-salesystemstocustomermanagementtools todigitalmarketing.
FranchisorscanimplementastandardizedPOSsystem acrossallfranchiselocationstoensureconsistencyand efficiencyinsalesandinventorymanagement.Acloudbasedsystemcanalsoallowforreal-timedatasharingand analysis.
Onlineorderinganddelivery:Withtheriseofonline orderinganddelivery,franchisorscanintegratetechnology solutionssuchasmobileapps,onlineorderingplatforms, andthird-partydeliveryservicestoenhancethecustomer experienceandincreasesales.
Training and support:Technologycanbeusedtoprovide trainingandsupporttofranchisees,suchasthrough webinars,onlinecourses,andvirtualcoachingsessions.
Marketing and advertising:Digitalmarketingtoolslike socialmedia,emailmarketing,andsearchengine optimizationcanhelpfranchisesystemstoreachabroader audienceandincreasebrandvisibility
Data analytics:Franchisesystemscanleveragedata analyticstoolstogaininsightsintocustomerbehavior,track performancemetrics,andidentifyareasforimprovement.
Technologyintegrationinfranchisingcanhelpimprove operationalefficiency,enhancecustomerexperience,and drivegrowthandprofitability.Itisessentialforfranchisors tostayup-to-datewiththelatesttechnologytrendsandto workwiththeirfranchiseestoimplementsolutionsthat workfortheirspecificneeds.
HealthandWellness
Consumersarebecomingincreasinglyhealth-conscious, andfranchisorsarerespondingbyofferingmoreconceptsin thehealthandwellnessspace.Thiscanincludefitness centers,healthyfoodconcepts,andmore.Franchiseesthat embracethistrendcanbenefitfromgrowingdemandfor healthylivingandwell-being.
SustainableandEco-FriendlyPractices
Sustainabilityandeco-friendlinessarebecomingmore importanttoconsumers,andfranchisorsarerespondingby takingstepstobecomemoresustainable.Thiscaninclude everythingfromusingeco-friendlypackagingtoreducing energyconsumptioninfranchiselocations.Franchiseesthat embracesustainablepracticescanappealtoconsumerswho prioritizegreeninitiatives.
Energy-efficientequipment:Franchisorscanencourageor requiretheuseofenergy-efficientequipmentand appliances,suchasLEDlighting,low-flowtoilets,and EnergyStar-ratedrefrigerators.
Wastereduction:Franchisorscanimplementwaste reductionstrategies,suchascomposting,recycling,and usingbiodegradableproducts.
Sustainablesourcing:Franchisorscanprioritizesustainable sourcingpractices,suchasusingorganicorlocallysourced ingredients,toreducetheenvironmentalimpactoftheir supplychain.
Renewableenergy:Franchisorscanexploretheuseof renewableenergysources,suchassolarorwindpower,to powertheirlocationsandreducetheirrelianceonnonrenewableenergysources.
Greenbuildingdesign:Franchisorscanprioritizegreen buildingdesignprinciples,suchasusingsustainable buildingmaterialsanddesigningbuildingstomaximize naturallightingandventilation.
Educationandcommunication:Franchisorscaneducate franchiseesandcustomersabouttheimportanceof sustainabilityandeco-friendlypracticesandcommunicate theireffortstoreducetheirenvironmentalimpact.
Implementingsustainableandeco-friendlypracticesin franchisingnotonlyhelpstoprotecttheenvironmentbut alsoimprovesthebottomlinebyreducingcostsand increasingcustomerloyalty.Itisimportantforfranchisors todevelopacomprehensivesustainabilitystrategythatcan beimplementedacrosstheirfranchisesystemandtowork withfranchiseestoensurethatthesepracticesarebeing implementedeffectively
WHY EVERY CIO SHOULD PASSIONATELY NFTs VIDEO GAMING CARE ABOUT &
AsaCIO,stayingcurrentontrendsthatcanand
inevitablywillaffectyourbusiness,iscritical.By followingconsumerbehavior,wearecloserto understandingthetrendsaffectingourbusinesses.
AtEpik,there'sonethingwepossessthatissuretoempower yourCIOlikefewthingscan—deepcomprehensionof consumerbehavior,andsubsequentlytheabilitytoprovide youwithsuperiorconsumerbehavioranalysis. Consumerswhoarevideogamersarethemostengagedusers onanyplatform.Fullstop.
Gamersinvesttime,energy,andmoneyintotheirfavorite gamingfranchises,andtheytakealotofprideingaming. Gamercommunitiesfosterpowerfulbondswithplayersfrom allovertheworldandacrosssocialmediaplatforms producingliterallymillionsofhoursofcontentdedicatedto videogamediscourse.
Almost half the world plays - that's 3 billion video gamers worldwide, a number growing continuously
CIOsfocusedontoday'scomputingandcloudtechnologies aren'tgenerallythinkingabouthowthisglobalphenomis
goingtoaffecttheirbusiness.Blockchainanddigital currenciesaredrivingtowardstheinevitablefuture,wherethe U.S.andothercountriesarelookingtoestablishtheirown cryptocurrency.
Everyaspectofabusinessisaboutmakingaprofitand establishingameaningfulindependentbrand. Whatwe've seenfromNFTbehavior–isthatconsumersnotonlylove theirbrands,buttheyarealsowillingtoinvestinthem. Imaginethateverybrand,everycompanycouldsella representationoftheirlogoandiconstorabidfans. Butwheretofindthesedeeplyengaged,andloyalfans?The answerisself-evident—youfindthemwherehalftheworldis alreadyspendinganextraordinaryamountoftime—video games.
MainstreamadoptionofNFTsingaminghasgivenplayers ownershipofwhattheyacquirein-game,forthemostpart. Thisisanunparalleledopportunitytoquicklyestablishbrand affinity,whichistheholygrailofbranding.Decentralized environmentsarepavingthewayforanewdynamicbetween gamersandthepopularityofplay-to-earngamesis skyrocketing.
AbouttheAuthor
Gary Ma is the Chief Operating Officer at , the leading global Epik licensing agency immersing major brands into AAA games, and a serial entrepreneur who has launched numerous businesses in live music entertainment, ecommerce, gaming and blockchain. Ma has spent over 16 years in technology sales and operations roles, with experience operating globally across multiple different industries. His experience with blockchain and crypto started in 2013. Prior to Epik, Ma has worked with some of the biggest brands and celebrity artists, producing large scale music festivals across the world.
Now at Epik, he works with the biggest brands and IP to create premium digital merch and NFTs, with clients including ViacomCBS, Warner Music, Garena, Tencent and Universal
Gary Ma COO Epik
AtEpik,we'vequicklybecomeoneoftheworld'sleading digitallicensingagenciesthatplacesbrandsintovideogames. Wealsoproduceone-of-a-kindcollaborationspoweredby blockchaintechnologythatresultinNFTsandotherdigital experiences.
Bystayingaheadofthecurveandforecastingtrends,we're abletousherintheneweconomicmodelofgamingand redefineaspacewherebrandscanreachandengagewithnew audiences.Agoodbrandiseasilyrecognizablebecauseithas personality.Strongpersonalitiesinturnexpressthemselves throughperformance–throughart–andthefutureof monetizingartisthroughthecreationofnon-fungibletokens.
Likeeating,drinking,andsleeping,collectingisabasic, primal,humanneed.Americanshavehistoricallycollectedso muchthattheynolongerhavespacetostoretheirstuffintheir homes,attics,garages,orself-storagefacilities.Digital collectinghasarrivedattherightmomentbecausethecloud, blockchain,Web3meansthatowningiseasyandselling easier
Brandscaneasilyfindtheirperfecttargetedaudiencein games. Playerstodayskewolderandhavegreaterbuying powerthaneverbefore.Becausegamingisn'tapassive activity,there'salotmoremotivationforuserstoinvestinthe game.Thequalityofgamesisalsorapidlygrowingwithmore immersiveexperiencesandwe'renowseeingafundamental shiftinthegamingeconomy.
Forcompanieslookingtoestablishthemselvesatthe intersectionofblockchain,cryptocurrency,gamingand esports,it'simportanttokeepthefollowingthreestrategiesin mindtoensurebrandrecognitionandfinancialsuccess.
BeTech-Oriented
Understandingthelatesttrendsintechiskey,asourhighly digitizedworldisonlybecomingmoreautomated.By exploringthelatestinnovations,you'llhaveabroader understandingofthedirectioninwhichthingsareheading. Don'tunderestimateemergingtechnologiesasajustafad.
WhenWilliamHiginbothamcreatedthefirstvideogamein 1958,nooneexpectedthiswouldbeaforerunnertoamultibilliondollarindustry.ThesamegoesforNFTsin videogaming;it'slargelyunchartedterritory,sobothusers andcompaniesarestilltryingtonavigatejusthowthingswill go,especiallywiththeadventofthemetaverse.
Byestablishingyourselfinaspacethathasn'tbecome oversaturated,youareallowingyourselftheopportunityto makeanameasanearlyadaptor.
SynergizeBrandsinaWayThatMakesSense
2022isprovingtobeahighlylucrativeyearforblockchainpowered,NFTenabledexperiencesandit'sprovingtobemost powerfulanddisruptiveingaming.AtEpik,weseethe relationshipbetweengamingandNTFstobethemost impactful.Weworkwithmorethan300videogameclients andmajorbrandsthatsynergizeandgeneratemajorrevenue.I cantellyoufromexperiencethatwhenyoupartnerwith differentbrands,thecollaborationneedstobemutually beneficial.Partnersshouldbeonboardwithmessagingto ensureconsistencyandthepurposeofthepartnershipshould alwaysbeattheforefrontwhenmakingdecisions.
IdentifyGapsintheTechSpace–andFillThem
Now,morethaneverbefore,isanexcitingtimetoworkintech andgamingbecausetheopportunitiesareliterallyendless. Whenwecreatedourowncryptotoken,weknewthatwe couldn'tjustlaunchitwithoutpurpose,whichiswhywechose totailormakeitforthegamingmetaverse.Bydoingthis,we wereabletoaddanelementtothegamingexperiencethat wasn'tpreviouslythere,whichinturnhelpedfuelour licensingandpartnershipbranch.Bottomline:don'tbeafraid tobeapioneer.Consumersaremorelikelytoembraceanew productorfunctionthatstreamlinesandamplifiestheir experience.
How Franchise is Becoming a Booming Business Model?
Franchisinghasbecomeaboomingbusinessmodelin
recentyearsasentrepreneursandestablished businesseslookfornewwaystoexpandtheirreach andgrowtheirprofits.Inthisarticle,we'llexplorewhy franchisingisbecomingsopopularandwhyitcouldbea greatchoiceforaspiringbusinessowners.
First,let'sdefinewhatfranchisingis.Essentially, franchisingisabusinessmodelinwhichacompany(the franchisor)grantstherighttouseitsname,products,and servicestoanotherpersonorcompany(thefranchisee)in exchangeforafee.Thefranchisortypicallyprovides training,support,andongoingassistancetothefranchisee, whooperatestheirownbusinessusingthefranchisor's establishedsystemandbrand.
Oneofthemainreasonswhyfranchisingisbecomingso popularisthatitallowsentrepreneurstostartabusiness withaprovenmodelandestablishedbrand,ratherthan startingfromscratch.Thiscanreducetheriskoffailureand increasethechancesofsuccess,asfranchiseesbenefitfrom thefranchisor'sexperience,marketingefforts,and reputation.
Anotherbenefitoffranchisingisthatitoffersaready-made networkofsupportandresources.Franchiseescantapinto thefranchisor'sexpertiseandknowledge,aswellasthe supportofotherfranchisees,tohelpthemnavigate challengesandgrowtheirbusiness.
Franchisingalsoofferstheadvantageofscalability. Franchiseescanexpandtheirbusinessbyopening
additionallocations,usingthesameestablishedmodeland brand,andoftenwiththesupportofthefranchisor.This allowsthemtoreachmorecustomersandgeneratemore revenuewithouthavingtoreinventthewheeleachtime.
Ofcourse,therearesomepotentialdrawbacksto franchisingaswell.Franchiseestypicallyhavetopay ongoingfeestothefranchisor,whichcaneatintotheir profits.Theyalsohavelesscontrolovercertainaspectsof thebusiness,suchasmarketingandproductofferings,as theseareoftendictatedbythefranchisor
Despitethesechallenges,franchisingcontinuestobea popularandgrowingbusinessmodel.Accordingtothe InternationalFranchiseAssociation,therewereover 733,000franchiseestablishmentsintheUnitedStatesin 2020,employingover8.3millionpeopleandcontributing over$787billiontotheeconomy.
Someofthemostsuccessfulfranchisesincludefastfood chainslikeMcDonald'sandSubway,aswellasserviceorientedbusinesseslikeJan-ProandSnap-onTools. However,therearealsomanynichefranchisesavailablein awidevarietyofindustries,fromhealthandfitnesstopet caretocleaningservices.
ComprehensiveFundamentals
EstablishedBrand:Oneofthebiggestbenefitsof franchisingistheabilitytouseanestablishedbrand. Franchiseescanbenefitfromthefranchisor'sreputation, whichcanhelpthemattractcustomersandgeneraterevenue morequicklythaniftheywerestartingfromscratch.
ProvenBusinessModel:Franchisorshavealready developedandtestedtheirbusinessmodel,sofranchisees don'thavetoreinventthewheel.Thiscanhelpreducethe riskoffailureandincreasethechancesofsuccess.
TrainingandSupport:Franchiseesreceivetrainingand ongoingsupportfromthefranchisor,whichcanhelpthem navigatechallengesandgrowtheirbusiness.Franchisors oftenprovideresourcesandguidanceoneverythingfrom marketingtooperationstoemployeetraining.
EconomiesofScale:Franchiseescanbenefitfromthe buyingpowerofthefranchisor,whichcanhelpthemsecure betterdealsonsuppliesandinventory.Thiscanhelpreduce costsandincreaseprofits.
NationalAdvertising:Franchiseesoftenbenefitfrom nationaladvertisingcampaignsrunbythefranchisor This canhelpincreasebrandawarenessanddrivemore customerstothefranchisee'sbusiness.
AccesstoFinancing:Franchiseesmayhaveaneasiertime securingfinancingthanindependentbusinessowners,as banksandlendersmaybemorewillingtolendtoabusiness withanestablishedbrandandbusinessmodel.
Flexibility:Franchisingoffersflexibilityintermsofthetype ofbusinessandindustrythatafranchiseecanenter There arefranchiseopportunitiesinawiderangeofindustries, fromfoodservicetoretailtohealthcare.
Inconclusion,franchisingisbecomingaboomingbusiness modelforareason.Itoffersentrepreneurstheopportunity tostartabusinesswithaprovenmodelandestablished brandwhilealsoprovidingsupport,resources,and scalability Whiletherearesomepotentialdrawbacksto consider,thebenefitsoffranchisingareclearandcould makeitagreatchoiceforaspiringbusinessownerslooking toenterthemarket.
Hospitality Management Holding (HMH) announces signing of Hotel Management Agreement for Corp Yanbu Hotel and Residence, a magnificent coastal hotel in Saudi Arabia
Yth anbu,SaudiArabia,26 January2023-
HospitalityManagementHolding(HMH)is delightedtoannouncethesigningoftheHotel ManagementAgreementofitsnewesthotelproperty‘Corp YanbuHotelandResidence’intheKingdomofSaudi Arabia.LocatedinthebeautifulwesternportcityofYanbu andfacingtheredsea,thehotelboastsof112keyswitha combinationofspaciousguestroomsandhotelapartments andstate-of-the-artamenitieswithunparalleledservice.
Itwouldincorporatecutting-edgedesign,whileoffering exceptionalcomfort,convenience,superiorservice,and excellentvalue,allunderpinnedwiththelatesttechnology. Withtrulybreathtakingviewsfromouroutletsonthe rooftopterrace,CorpYanbuHotelandResidenceis designedtocatertheneedsoffamiliesandmodern travellerinmind,thisurbanoasisseamlesslyblendsthe convenienceofcitylivingwiththecomfortofahome awayfromhome.
ThesigningceremonyoftheHotelManagement AgreementwassupportedbyRoyalCommissionofJubail &YanbuandwasattendedbytheDirectorGeneralofthe InvestmentDevelopmentDivision,ENGR.Abdulaziz MohammedAlShanqiti,andmarksasignificantstepin thecommission'seffortstoenhancethehospitality industryintheregion.Thisagreementwillbringanew levelofexcellencetothehotelsandresortsinYanbu,and welookforwardtoseeingthepositiveimpactitwillhave onthelocaleconomy.
‘Whetheryourstayisforfamilyleisureorbusiness,‘Corp YanbuHotelandResidence’willoffertheperfectblendof style,service,andvaluethatwillmakeyourstaytruly unforgettable.Withpopularamenitiesandaprime location,CorpYanbuHotelandResidence,willbethe ultimatedestinationforthesavvytravellerlookingfora memorableexperience’saidAhmedAlShagdali, Chairmanoftheowningcompany.
Guestswillenjoyaccesstoon-sitediningoptions,an indoorswimmingpool,fitnesscentre,andafull-service businesscentre.Inaddition,CorpYanbuHoteland Residence,overlookstheWaterfrontBeachandthe Marina,makingittheperfectchoiceforbothbusinessand leisuretravellers.
‘Weareconfidentthat‘CorpYanbuHotelandResidence’ willsetanewstandardinhospitalityforYanbu,andwe lookforwardtowelcomingguestsfromaroundtheworld toexperienceallthatourhotelhastooffer.Thetrendyand cosmopolitanhotelisscheduledtowelcomeguestsbythe endofQ2in2023’commentedPatrickAntaki,COO–HospitalityManagementHolding(HMH).Hefurthersaid, ‘Ourmanagementteamiscommittedtoproviding exceptionalservice,andweareconfidentthatourguests willfeelathomefromthemomenttheyarrive.Welook forwardtowelcomingguestsandprovidingthemwithan exceptionalexperienceandtheultimateinUrban Comfort.’
Foundedin2003inDubai,HMH–Hospitality ManagementHoldingisafullyintegratedhotel managementcompanythatpridesitselfforbeingthe largestoperatorinthedrysectorwithintheregion.HMH provideshotelownersanddevelopersabroadspectrumof world-classmanagementsolutionswithfivedistinct,yet complementary,hotelbrandscateringtovariedmarket segmentsfromluxurytolifestyle.TheseincludeBahi Hotels&Resorts,CoralHotels&Resorts,CorpHotels, EWAHotelApartmentsandECOSHotels.HMH’s strategicexpansionintheMiddleEastandNorthAfrica hasbeensuccessfulinunlockingaworldofopportunities whilecreatingvalueforitsstakeholders,associates,staff membersandcustomers.Theexistingportfolioislocated insomeofthemostdesirabledestinationsacrossthe MENAregion,withapipelineofhotelsunder developmenttogrowHMH’sregionalfootprinteven further.
FormoreinformationaboutHMH,pleasevisit http://www.hmhhotelgroup.com/
AboutHMH
Jordan Meinster, Founder and President
