Franchise Update Media has conducted research on franchise lead generation and recruitment processes for over a decade. The Annual Franchise Development Report (AFDR) provides valuable insights into recruitment practices, budgets, and strategies of franchisors. The 2024 AFDR report is a comprehensive resource for understanding lead generation and recruitment best practices. It surveyed 120 brands with a total of 2,533 company-owned units and 24,101 franchise units across various segments. One key aspect is the inclusion of a Financial Performance Representation (FPR) in the Franchise Disclosure Document (FDD), which gives prospective franchisees an idea of potential financial performance. 86 percent of respondents provide FPRs in their FDD, with revenue being the most common disclosure. While 77 percent of respondents did not modify their franchise program to reduce start-up costs in the past year, those who did make changes focused on new build-out options and investment information. The AFDR offers valuable insights for franchise development strategies.
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