European Master & Multi-Unit Franchising Conference

JANUARY 28-29, 2020 VIENNA, AUSTRIA HOTEL HOTEL SAVOYEN VIENNA VISIT WWW.EMMFC.COM

The Premier Conference for Master, Multi-Unit & Multi-Brand Franchising AN EXCLUSIVE EVENT WITH LIMITED SEATING

Contact: EMMFC@FRANCHISEUPDATEMEDIA.COM

History The first-ever European Master & Multi-Unit Franchising Conference debuted in October 2018 in London.

The conference, which drew 173 registrants from 15 countries, was produced by Franchise Update Media and MFV Expositions and was held at the Park Plaza Victoria London.

In all, there were nearly 30 sponsors who participated in the event, from both Europe and the U.S. Attendees included both U.S. and European master, multi-unit and multi-brand franchisees, as well as franchisors, consultants, suppliers, and attorneys specializing in international franchise growth and development.

The European Master & Multi-Unit Franchising Conference follows the lead established by what has become the must-attend event for multi-unit and multi-brand franchisees in the United States: the annual Multi-Unit Franchising Conference. The 20th Anniversary of this conference will also be celebrated in April 2020 in Las Vegas at Caesars Palace.

The 2019 Multi-Unit Franchising Conference had over 1,720 attendees including 700 multi-unit and multi-brand franchisees, over 300 sponsors and exhibitors and other franchise insiders. Over 250 fran-

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chise brands exhibited to reach their target audience of multi-unit/multibrand franchising. The 700 franchisees in attendance represent 11,000 franchise units in the U.S., employ more than 250,000 people and do more than $9 billion in annual revenue. 75% of them are seeking other brands to add to their portfolios. Additionally, they plan to add 14,000 more franchise units over the next five years in all franchise categories in the United States. 50% had one brand, 18% had two, and 32% had three or more.

Research indicates that multi-unit franchisees in Europe and other parts of the world are expanding their number of units and growing into other brands as well. With the growth of multi-unit, multi-brand franchisees and master franchising, the need exists to bring an opportunity for a similar conference with the right combination of experienced attendees and brands to Europe. Similar to the U.S. event, the two-day European conference will focus on providing educational sessions and networking opportunities to multi-unit/multi-brand franchisees and master franchisees looking to expand in Europe or to enter the U.S. market.

2020 European Master & Multi-Unit Franchising Conference Programme

Who Attends + Why Attend The conference is a two-day, multi-track event that covers all aspects of high performance multi-unit and master franchisees. The tracks and content, tailored to the needs and interests of expansion-minded global franchisees, will include a blend of master and multi-unit franchisee topics and experiences, as well as the most current best practices to help attendees make the best decision on how to grow their business in a new country. By drawing the brightest minds in multi-unit and master franchising and the highest caliber brands, this event will be a game-changer for franchising in Europe.

The 2020 European Master & Multi-Unit Franchising Conference provides an intimate forum for international franchise business leaders to grow profitable franchise enterprises, based on the facts and on the experience of successful international franchisors, master franchisees and multi-unit operators.

Highly Targeted Attendance This conference is designed for multi-unit, multi-brand, and master franchisees eager to grow, learn from their peers, and engage with new franchise brands and product and service providers.

Franchise Leaders Seeking to Accelerate Their Growth

Laser Focused Content & Learning to Achieve High Performing Enterprises

For 2020, the European Master & Multi- Unit Franchising Conference will bring together not just the most powerful people in franchising, but also a generation of multiunit, multi-brand, and master franchise leaders seeking to accelerate their growth. This exclusive group is creating the future of franchising in the European marketplace, the U.S., and other countries.

The conference will hone in on the major aspects of successful growth strategies and tactics through the eyes of experienced franchisors, master franchisees and multi-unit, multi-brand franchisees.

2020 European Master & Multi-Unit Franchising Conference Programme

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KEYNOTES OPENING KEYNOTE: STATE OF FRANCHISING U.S. & GLOBAL PERSPECTIVES Catherine Monson CEO, FASTSIGNS International Global franchising has never been bigger. There are more brands and more open markets than ever before. Catherine Monson, CEO of FASTSIGNS International, Inc., the largest sign and visual communications franchisor in North America, and worldwide franchisor of more than 675 FASTSIGNS® in eight countries will share her insights on the strength of franchising worldwide. Catherine is currently Chairwoman of the International Franchise Association.

GUEST SPEAKER: HOW TO BE BEST IN CLASS. BEST PERFORMER, BEST SALES, BEST PROFITS. Andreas Schwerla Multi-Unit Franchisee, McDonald’s, Austria Andreas Schwerla has had an illustrious career with McDonald’s since 1985. He grew within the McDonald’s brand in Germany as an assistant restaurant manager, restaurant manager, area manager, head of operations, marketing director, vice president of operations, HR, IT and Franchising, COO and then deputy CEO. He then became vice president of Western Region Europe and managing director of McDonald’s Austria and Central Europe. In 2013, Andreas decided to become a franchisee and currently owns 10 McDonald’s in Austria. He continues to grow the brand.

KEYNOTE: BUILDING A HIGH PERFORMANCE GROWTH CULTURE IN A MEGA FRANCHISEE SYSTEM Glen Helton Vice Chairman, NSP Corporation; Franchisee, Burger King, KFC, and TGIF based in Sweden In his most recent role as CEO for Americana, Glen managed a portfolio of 18 brands, across 13 countries, +1,900 restaurants and more than 37,000 employees.

The Americana Restaurant Division operates restaurants of reputable brands like KFC (856), Pizza Hut (227), Hardees (370) and TGI Friday’s (68), to name a few.

In the past two years, Americana increased revenue +10% on a LFL basis to over $1.9B, while growing EBITDA by 24%. Americana recently was named “Operator of the Year” for Hardee’s for 2018, increased OPS Excellence scores in MENA to 90% to lead the system at KFC in 2019, named “Innovator of the Year” at Pizza Hut for 2018, and named “Supply Chain Partner of the Year” at YUM in the recent supply chain conference held in May of 2019.

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2020 European Master & Multi-Unit Franchising Conference Programme

SPEAKERS ALEN BABIC

Multi-Unit Franchisee, Subway (Europe)

DIETER BAIER

MARCO HERO

Partner, Schiedermair Rechtsanwalt (Europe)

GRACE HARDING

TONY PADULO

Franchisor, Chief Development Officer, School of Rock (US)

ALEXANDER PETSCHE

Master Franchisee, Mailboxes ETC (Europe)

Franchisor, CEO, Ocean Basket, (South Africa)

CEO, Baker & McKenzie (Europe)

MARIO BAUER

Brand Ambassador, AMREST (Europe)

GLEN HELTON

Multi-Brand Franchisee, Burger King, TGI Friday’s (Europe)

Multi-Unit Franchisee, EFM (Europe)

GIUSEPPE CONSIGLIO

MARK JAMESON

Multi-Unit Franchisee, Supercuts (US)

MATTHIAS KERN

Multi-Unit Franchisee, McDonald’s (Europe)

JESSE KEYSER

International Consultant, MSA & Associates (US)

Franchisor, International Franchising Manager, Bata (Europe)

Franchisor, Executive Vice President, FASTSIGNS (US)

ZSOLT DARA

Multi-Brand Franchisee, Pizza Hut, AMREST (Europe)

Multi-Unit Franchisee, Burger King, (Europe)

DANIEL DEUTSCH

Multi-Unit Franchisee, Mail Boxes, ETC. (Europe)

MARTIN EGGER

Master Franchisee for Austria & Switzerland, The Alternative Board (Europe)

MARK FORSETH

Franchisor, Vice President Assistant General Counsel, Marriott International (Europe)

GARY GARDNER

Chairman, Franchise Update Media (US)

YARON GOLDMAN

Multi-Brand Franchisee, Sonic, McAlister’s Deli, Mod Pizza, Fuzzy Taco (US)

WILLIAM HALL

Multi-Unit Franchisee, Dairy Queen (US)

Multi-Brand Franchisee, Oxi Fresh Carpet Cleaning, Little Caesars Pizza, Sport Clips (US)

MARTIN LUIBLE

CEO, Soda Group (Europe)

TONY LUTFI

Multi-Unit Franchisee, Arby’s, Little Caesars, Church’s Chicken, Jack In The Box, Sizzler, TGI Friday’s (US)

WALTRAUD MARTIUS

RAIMUND POCK

GARY ROBINS

ANDREAS SCHWERLA

MICHAEL SEID

BRAD SMITH

Sr. VP Franchising, Darden Restaurants, Olive Garden, Long Horn Steakhouses, Yardhouse, Capitale Grill (US)

EDITH STEINER

Master Franchisee, Floral Images (Europe)

THERESE THILGEN

CEO, Syncon International (Europe)

CEO, Franchise Update Media (US)

JOYCE MAZERO

Multi-Brand Franchisee, Hilton, Marriot, Wyndam (US)

Shareholder Global Franchise & Supply Network Practice, Polsinelli (US)

CATHERINE MONSON

Franchisor, President & CEO, FASTSIGNS (US)

TED TORRES

JORG VEIL

Master Franchisee, Home Instead, (Europe)

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Full Programme

Breakouts

13:45 — 14:35

Tuesday, 28 January 09:00 – 10:00

Conference Opening Meet and Greet Before the General Assembly begins, enjoy coffee and pastries with colleagues and industry peers.

Opening General Assembly – Welcome & Programme Overview

14:45 — 15:35

THERESE THILGEN Co-Founder & CEO, Franchise Update Media

10:00 – 12:00

OPENING KEYNOTE: State of Franchising – U.S. & Global Perspectives Catherine Monson, CEO, Fastsigns International KEYNOTE: Building a High Performance Growth Culture in a Mega Franchisee System Glen Helton, Vice Chairman, NSP Corporation; Franchisee, Burger King, KFC, & TGIF

Networking Lunch with Conference Sponsors Time to meet with vendors and suppliers and reconnect with industry peers and colleagues, and discover new franchise opportunities and business solutions.

15:45 — 16:35

16:45 — 17:15 17:30 - 18:30 6

2020 European Master & Multi-Unit Franchising Conference Programme

MULTI-UNIT/MULTI-BRAND

The Due Diligence Process & Building Your Economic Model for Master Franchising

Benefits of Growing Multiple Locations as a Multi-Unit or Multi-Brand Franchisee

Finding a qualified master franchisee for international expansion can save a franchisor the expense and headache of setting up an infrastructure overseas to sell, train, and support franchisees. Partnering with the right overseas master franchisee also can help with language and cultural differences, as well as with finding the best local employees, suppliers, and real estate. Surrendering part of the franchise fee and ongoing royalties to allow the master franchisee do the heavy lifting is a popular model for franchisors seeking expansion into new countries. What due diligence is necessary to arrive at a feasible economic model? This panel of experienced franchisors and master franchisees will share their successes and challenges and provide insights to help you avoid making mistakes as you expand into new and uncharted terrain.

Multi-unit franchising has been a game changer for franchising. Multi-unit franchisees know how to open and operate units, and have unique insights into what they did right, and what they would do differently if they had it to do over again. After succeeding with multiple units of a single brand, many franchisees are finding their next step is multi-brand franchising. Done right, this diversification strategy can protect a business from economic downturns and cycles and encroaching competition. As savvy investors know, no matter how good your ROI may be from a single holding, it’s not always wise to put all your eggs in one basket. A panel of experts will share what deal structures, including development schedules, look like and discuss the risks and benefits of multi-unit and multi-brand franchising.

Successful Franchisee/ Franchisor Relationships in Master Franchising: Case Studies

Choosing the Right Brand for Your Franchise Portfolio

One of the most critical components of successful international franchise expansion is finding and working with the right partners. This is a key ingredient to long-term success and profitability for both the franchisor and the master or multiunit franchisee. Cultural, political, legal, and language differences make it imperative to partner with the right people and be aligned in your goals. Experienced panelists will lead you through the process of how to build these relationships where both parties will prosper over the long term.

Training: Best Practices to Develop High-Performing Master Franchisees

GUEST SPEAKER: How to Be Best in Class. Best Performer, Best Sales, Best Profits.

Andreas Schwerla, Multi-Unit Franchisee, McDonald’s, Austria

12:00 – 13:30

MASTER FRANCHISING TRACK

For franchisors intending to use a master franchising model to expand into new countries, proper training of each master franchisee – not only in the system, but also in the values, culture, and mission of the brand – can be the critical factor determining success or failure abroad. Beyond identifying and signing qualified franchisees in their country or territory, master franchisees are charged with their initial training and ongoing support, just as they were trained and continue to be supported by the franchisor.

A panel of international master franchising pros will discuss how they accomplished this, offer tips and best practices based on their experience, and respond to questions.

Many variables go into deciding if, and when, to select a new brand to add to your existing portfolio. Should you stay in an industry you know, or diversify into a different food, service, or retail brand? Add a new brand in your current market, or expand geographically? What should you look for in a new franchisor partner? How do you evaluate earnings claims or analyze franchise agreements? How do you minimize risk? These questions and more will be answered by a panel of successful multi-unit and multibrand franchisees.

Strategies for Integrating Additional Brands Whether you’re looking to add one new brand or five, there are winning strategies that must be employed. Diversifying your portfolio with new brands can help shield you from economic downturns and cycles, but there also are risks and challenges. Learn how successful multibrand franchisees identified and resolved the critical financial, structural, cultural, and other issues involved in choosing a new brand and integrating it into their existing organization.

European Franchise Food Trends How large and small food franchises grow.

Networking Reception with Conference Sponsors Time to meet with vendors and suppliers, reconnect with industry peers and colleagues, and discover new franchise opportunities and business solutions.

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Wednesday, 29 January

12:15 – 13:45

General Assembly DEALING WITH LEGAL POINTS CRITICAL TO SUCCESSFUL MULTI-UNIT AND MASTER FRANCHISE ARRANGEMENTS This program will feature a panel of experienced and highly recognized multi-unit and master franchise speakers and a combination of those two panels addressing legal and related business issues critical to each of the multi-unit and master franchise expansion methods as well as topics common to both. Key discussion topics are as follows:

08:30 – 10:15

Master Franchise Panel This panel will discuss the level of franchisor-provided services and the master franchisee’s infrastructure for training, marketing and standards enforcement; the recruitment of sub-franchisees and due diligence / form of sub-franchise agreement; the establishment of the development schedule and remedies for failure to develop; termination of a master franchisee and step-in rights.

Multi-Unit Development Panel This panel will include establishing the development schedule and remedies for failure to develop; the then current form of franchise agreement and negotiation points of the standard form agreement; transfer restrictions including a right of first refusal; and default, termination and purchase options.

Breakout

Breakouts

10:30 — 11:15

11:25 — 12:15

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Break MASTER FRANCHISING TRACK

13:45 — 15:00

15:00 – 15:15

MULTI-UNIT/MULTI-BRAND Building Infrastructure & Developing Great Managers for Operational Excellence

Master franchisees take on the role of a “mini” franchisor in the market or country they represent.

It’s a big task that requires sufficient funds, a proper budget, and the right experience and expertise. Expenses can include franchisee recruitment, site selection, opening new locations, construction, and training new teams, as well as ongoing operations and marketing support. Master franchisees must ensure they are well-capitalized, manage their resources efficiently, and build their infrastructure to support growth.

Multi-unit franchisees cannot grow without a solid infrastructure in place. This requires the right people, resources, and proper planning, well in advance of opening. This panel of experienced franchisees will explain how to manage growth and scale your organization as you add more units. A multi-unit franchisee can’t be in all their locations at all times, so they must depend on their local and regional managers to run the business as they would. The manager’s role is critical to the health of your locations, which is why hiring, training, and nurturing the right people for this role are all critical to sustained growth.

Franchise Sales Process & Programs

Growing from Management to Leadership to Achieve Operational Excellence

Master franchisees looking for qualified franchisees and be successful require an investment to attract and recruit the right people. A proven process to identify, engage, and qualify leads, and then bring them into the system is critical. Achieving this effectively will require trusted processes and systems adapted to the culture, economy, laws, and markets of the new country. Panelists with firsthand experience in this area will share what they’ve learned about franchise sales in different countries.

MASTER FRANCHISING TRACK

As a master franchisee you rely on the franchisees you’ve signed up to follow the system, be successful, and provide a reliable royalty stream. Your support is a critical part of their success—and of your own.

Learn how to deliver the development incentives, operational and real estate support, technologies, marketing, products, and brand strength and reputation your franchisees will require to grow.

MULTI-UNIT/MULTI-BRAND “Mega” Franchisees – How They Do It: Case Studies There is a special breed of multi-unit operators who go big, operating dozens or even hundreds of units. In building their business, these franchisees rely on hard work, skill, shrewd management, intuition, and often a little luck and fortunate timing. Panelists will share personal stories of their struggles and successes, mistakes and victories. If you’re serious about largerscale growth and are looking to expand your portfolio, this session is for you.

Break General Assembly Program & Closing Roundtables & Remarks

15:15 – 16:30

Building Infrastructure with Budgets for Selling and Supporting Franchisees

Time to meet with vendors and suppliers and to reconnect with industry peers and colleagues, and discover new franchise opportunities and business solutions.

How Master Franchisees Deliver Ongoing Support and Services to Franchisees

Master Franchisee/ Multi-unit Developer Panel The session will close with a discussion on due diligence – as to a franchisor and subfranchisees; sourcing and supply issues; responding to and remedies for performance deficiencies; and dispute resolution methods.

10:15 – 10:30

Networking Lunch with Conference Sponsors

MULTI-UNIT FRANCHISING, MASTER FRANCHISING, AND ADDITIONAL GROWTH STRUCTURES: BRINGING THE FRANCHISE OFFERING AND RELATIONSHIP INTO ALIGNMENT If you look at the statistics on franchise unit ownership, the number of franchisees who operate more than one location and those who operate more than one brand is impressive. While this trend in ownership structure is growing internationally, the franchise relationship is basically unchanged from what it has been historically. With the exception of a change in the initial franchise fee, there is really little difference between the offering for a single-unit or multiple-unit deal. This program will lay out possible differences in initial and continuing fees, changes in the obligations of the parties, and adjusted responsibilities provided or required by the franchisor. Strategic groups including franchisors and franchisees will be included in this discussion.

16:30 – 18:00

Final Networking Reception with Conference Sponsors

19:00 – 21:30

Closing Gala The conference concludes at the beautiful Wiener Rathauskeller for the Closing Gala.

When a franchisee organization grows, its leaders must find ways to let go of managing the daily business hands-on and begin to lead the company more strategically. This panel of successful multi-unit franchisees will share their experiences in learning how to lead by making the hard decisions, logistically and emotionally; how to share their long-term vision with management team and employees; how to step back from day-to-day operations and trust your team.

2020 European Master & Multi-Unit Franchising Conference Programme

2020 European Master & Multi-Unit Franchising Conference Programme

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SILVER SPONSORS

SPONSORS AS OF 9/24/19

BRONZE SPONSOR

SPONSOR AS OF 9/24/19

MEDIA SPONSORS

SPONSORS AS OF 9/24/19

SPONSORS PLATINUM SPONSOR

SPONSOR AS OF 9/24/19

Multi-Unit

GOLD SPONSORS

SPONSORS AS OF 9/24/19

2020

Franchisee

ASSOCIATION SPONSORS

SPONSORS AS OF 9/24/19

Interested In Sponsoring?

Grow your business with a conference sponsorship that gives you access to high-profile attendees. We expect the 2020 European conference will be even bigger and better, and we hope you’ll join us. Please note that table selection is based on your contract submission date, so don’t delay!

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2020 European Master & Multi-Unit Franchising Conference Programme

Franchisors and vendors, please email EMMFC@ FRANCHISEUPDATEMEDIA.COM to submit your request for sponsorship.

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Apply For Enrollment

Venue

2019 Enrollment Rates (expires Nov 29, 2019)

Early Rate

Regular Rate

Franchisee Enrollment

€399

€499

Franchisor/Master Franchise Enrollment

€399

€499

Prospective Multi-Unit Franchisee/Investor Enrollment

€399

€499

Prospective Master Franchise/ Investor Enrollment

€399

€499

Ticket Type

The European Master & Multi-Unit Franchising Conference is an Exclusive Event With Limited Seating.

This conference is designed primarily for Multi-Unit, Multi-Brand and Master Franchisees eager to grow, learn from their peers, and to engage with new franchise brands and product and service providers.

For this reason, enrollment for EMMFC is by invitation only. With only 300 seats available, only Multi-Unit, Multi-Brand and Master Franchisees may apply for an invitation. To enroll, please visit our conference website at www.emmfc.com If you have received an invitation with a enrollment code, please proceed to online enrollment.

Franchisors and vendors, please email or submit your request for sponsorship to EMMFC@FRANCHISEUPDATEMEDIA.COM If you have questions regarding the application process, please contact us at EMMFC@FRANCHISEUPDATEMEDIA.COM

A stay at the Hotel Savoyen Vienna is bound to be unforgettable, just like its namesake, Prince Eugene of Savoy. The hotel effortlessly combines old and new, occupying a revitalized building that was once home to the imperial Austrian state and court.

From the outside, the heritage-protected traditional Viennese facade casts its spell on visitors. Indoors, modern architecture and the highest levels of comfort and contemporary facilities await. The light-filled atrium, a smart executive lounge, restaurants and bar, as well as a gym and wellness zone, make for an exclusive lifestyle experience that’s a cut above the rest—and the hotel staff will take care of everything you need.

Property Location

With a stay at the Hotel Savoyen Vienna, you’ll be in the business district and convenient to the Belvedere complex (twoBaroque palaces, gardens, museum, and more) and the Vienna State Opera. This 4.5-star hotel is also within close proximity to the Vienna Konzerthaus and University of Music and Performing Arts.

Booking Rooms

For the best rate at the Hotel Savoyen Vienna. Please book your room as soon as possible. A limited number of rooms have been set aside for the programme attendees.

Our Special Nightly Raates

• €140 Euro Single Occupancy • €160 Euro Double Occupancy

The rate is good, upon availability, 3 nights before and 3 nights after the programme.

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2020 European Master & Multi-Unit Franchising Conference Programme

2020 European Master & Multi-Unit Franchising Conference Programme

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Closing Gala

Event Producers

CLOSING GALA

Wednesday 29 January, 19:00 - 21:30 Wiener Rathauskeller In 1899, the Wiener Rathauskeller was inaugurated by then Mayor of Vienna, Dr. Karl Lueger with a toast to "His Imperial and Royal Apostolic Majesty, Emperor Franz Josef I", and to this day it is known as the home of "good taste." Every hall and parlour of the Wiener Rathauskeller is steeped in history. Town halls and mansions frequently had a separate dining room, usually in the cellar, where guests were invited for drinks and sociable get-togethers. Vienna evaded this tradition for a long time. Event when the city build the new grand town hall from 1872 to 1883. No Ratskeller (town hall cellar) was originally planned, however architect Freidrich Schmidt had made necessary preparations

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later time. On 12 February 1899, Vienna finally got its town hall cellar. This cellar restaurant was not merely intended for social gatherings, but was dedicated to Austrian wine. Therefore, a great wine cellar and wine taverns were built. The Ratskeller was only accessible via the courtyard of Magistratsstraße, and paintings gave each room its individual character.

The paintings were created by Heinrich Lefler and his brother-in-law Joseph Urban Despite renovation works in 1925, 1952 and 2005, the Wiener Rathauskeller retained its special artistic character and unique atmosphere.

(Source: Chronicles of the City of Vienna)

Wiener Rathauskeller Rathausplatz 1 +43 (0)1 405-1210 www.wiener-rathauskeller.at/en

2020 European Master & Multi-Unit Franchising Conference Programme

About Franchise Update Media

About MFV Expositions

If you want to reach, influence and motivate the largest audience of franchise professionals there’s just one choice—Franchise Update Media.

For 25 years, MFV Expositions, part of Comexposium Group – one of the world’s leaders in event organization, has been producing the leading franchise events worldwide that consistently bring together franchise concepts, at all investment levels, with the most qualified visitors seeking to own their own business.

As the market leader, Franchise Update Media delivers unmatched reach and scale across multiple platforms, including magazines, content marketing, digital ads and franchise conferences. We boast more than 2 million annual unique visitors online, 4 million page views annually and have over 17,000 multi-unit franchisee readers, and 9,000 franchisor readers.

In addition to quality franchise expos in the United States and overseas that offer faceto-face opportunities to grow a franchise, MFV also offers access to online franchise opportunities through web-based resources.

No other content and media marketing services provider has our years of experience and the depth of expertise our advisory boards bring to the table.

2020 European Master & Multi-Unit Franchising Conference Programme

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28 – 29 January, 2020 Vienna, Austria www.emmfc.com

“A game-changer for master and multi-unit franchising in Europe.”

“A two-day multi-track covering high performance master and multi-unit franchising.”

“Draws high caliber brands and the brightest minds in master and multi-unit franchising.”

“Brings together a generation of master and multi-unit franchisees and franchisors seeking to accelerate their growth.”