Many entrepreneurs consider franchise trade shows a great opportunity to boost their business growth. After all, the entire purpose of the franchise trade shows is to help you network with other professionals, learn about franchising opportunities, showcase goods, talk about the latest industry trends, and disperse knowledge. But there's more to franchise trade shows than what we just mentioned. So keep on reading to learn everything you need to know about franchise trade shows.
What Are Franchise Trade Shows and Why Are They Important
Franchise Trade shows are gatherings of businesses (exhibitors), business representatives (visitors), and professionals who assemble in a specialized venue so they can exchange knowledge, services, and products while forming connections with like-minded individuals.
Exhibitors are given the space to exhibit, giving them the opportunity to connect and actively engage with the event visitors. This increases their chances of generating leads and successful networking, which can help them close a few sales.
Franchise trade shows are especially useful for traders or B2B businesses because it allows them to spread information about their product while connecting with prospects in a highly organic setting tailored to them as well as their audience.
Note that consumers or B2C businesses aren't typically permitted entry or exhibiting space. Instead, you'll usually find them at exhibition fairs or expos. However, there are some franchise trade shows that open up to public audiences for a day or two during their running time. It just depends on what type of show it is.
So as you can see, franchise trade shows are quite important as they help you connect with other professionals and potentially make some sales while you're at it. After all, making direct sales or hitting a quota is the true definition of winning. Other reasons you should consider exhibiting at a franchise trade show include:
- Capturing leads. If you don't have leads, you have no one to convert, so you need to generate a sufficient number of leads for the marketing funnel.
- Analyzing your competition. Franchise trade shows can help you gather valuable information about your competitors, such as the technology they use and the marketing angle they take.
- Engaging with existing customers. Doing this helps you improve your relationship with them while providing them with the information they need, which in turn motivates your customers to invest in new services or products you offer.
- Introducing new products or services. You can show both old and new customers how they can benefit from the new product or service and why they should purchase it.
- Account-based marketing. Before going into the franchise trade show, you need to identify your main audience at the event so you can devise a strategy that will help you convert them.
- Gathering feedback. This is the best way to improve your services as well as sales and marketing.
- Spotting trends. Being aware of all the latest trends helps you stay relevant and prevents you from making mistakes that can cause a lot of damage.
Top Franchise Trade Shows You Must Not Miss
1. Multi-Unit Franchising Conference
Multi-unit franchising is when you own multiple stores of a specific franchise or own multiple stores in various franchises (such as a couple of different restaurants). Although multi-unit franchising can be an amazing growth strategy, operating all those multi-units is vastly different compared to operating just one franchise location.
And now it's time to explain what the Multi-Unit Franchising Conference does; it focuses on specific sectors, such as food, retail, hospitality, and service, which is open to aspiring and current franchisees as well as service providers and investors. So it is the best trade show for multi-unit franchise operators or those who would like to grow into the multi-unit business model.
2. Small Business Expo
Small Business Expo is a huge showcase for small businesses, which also includes franchises. It features keynote speakers, multiple chances for networking, and workshops that are led by top industry experts. Small Business Expo is held in-person throughout the United States (on a rolling basis), but it's available online as well. So if you don't have enough time to travel, you can simply opt for the online option.
3. The International Franchise Expo
The International Franchise Expo provides international businesses or franchises with opportunities they can certainly appreciate. Itfeatures more than 300 franchises with workshops and educational programs, all geared to different levels of expertise and investment.
Franchises that usually attend are U.S.-based household names that have a strong international presence like Ace Hardware and Chuck E. Cheese, as well as franchises in the international pavilion like Baekchae Kimchi Jjigae of South Korea.
Additionally, many potential partners in initial investments and financing attend this trade show, like the U.S. Small Business Administration, for instance.
4. The Franchise Leadership and Development Conference
This one is also known as FLDC, which is designed for the upper management in a franchise business like CEOs (chief executive officers), development and sales team leaders, and presidents.
The conference continues for three days and includes top industry keynote speakers, emerging and current trends, sales leads, a CEO forum, and several sessions that focus on franchise growth strategies. Additionally, there are some celebratory events that are bestowed on the franchise development.
5. The IFA Emerging Franchisor Conference
This one is targeted to both aspiring and emerging franchise entrepreneurs so they equally benefit from the opportunities. It focuses on all the vital aspects of a successful franchise from managing operations to generating sales leads.
Participants include cutting-edge franchise organizations and franchise industry leaders. As for the conference itself, it includes great franchising opportunities, educational sessions on growth, structured networking sessions, and coaching opportunities.
6. The Great American Franchise Expo
Expos can be a wonderful way to see various franchise presentations, talks, demonstrations, and products, as well as to form connections with fellow franchisees and franchisors. Additionally, expos are held in various cities throughout a period of time, which can be more convenient.
As for the Great American Franchise Expo, its main purpose is to help you connect with franchisors in the informal setting. It also provides you with educational sessions on different topics, such as legal issues and financing.
7. IFA Annual Convention
It doesn't matter whether you are just a beginner or a franchising veteran; the IFA Annual Convention has sessions designed for everyone. So this can be your chance to successfully network with industry leaders.
It is curated in a way to help you take your success to the next level so you can reach the heights you didn't know were possible before. Whether you are a franchisee, franchisor, or supplier, you will find just what you need, be it top-notch education or networking opportunities.
And what's even better is that the IFA has developed its programs and content in a way to match individual and unique learning styles of each individual, helping you maximize your business development.
8. MFV Expos
MFV Expositions is one of the best trade shows you shouldn't miss and there are many reasons for that. First and foremost, it helps you expand your brand with both in-person opportunities and online directories. You'll be able to connect with thousands of franchise companies that will share their proven concepts to show you how success is achieved.
Another great thing about MFV's Expos is that it features franchises from all industries and investment levels while providing you with comprehensive educational programs so you can make informed decisions about your franchise options.
9. Franchise Customer Experience Conference
At the Franchise Customer Experience Conference, you will find various networking opportunities, as well as a space designed for idea sharing and inspiration. But that's not all; you'll also learn more about operations, marketing, technology, and how to elevate your customer experience. All of which can help you achieve your franchise goals.
In other words, if you want to take your customer experience to the next level while forming all the right connections, make sure to attend the Franchise Customer Experience Conference.
10. RFDC (Restaurant Finance & Development Conference)
Attending the RFDC will help you find the financing you need and make deals while networking in the restaurant industry. So if you are a restaurant owner, this trade show can be just what you need to boost the success of your business.
FAQs
Why is it called a franchise?
The word franchise is derived from the Anglo-French with "franc" meaning 'free', which is used as both the transitive verb and noun. For a franchisor, the use of the franchise system is the alternative business growth strategy in comparison to expansion through "chain stores" or corporate-owned outlets.
What is the franchise owner called?
The franchise owner is referred to as a franchisee; the individual who has purchased the right to sell goods or services of the franchisor using its trademark and existing business model.
Is franchising good for the beginners?
Franchising can be quite good for beginners as it's a risk-averse option for aspiring entrepreneurs. Furthermore, it carries reduced startup risk in comparison to independently starting a business due to the already existing, proven business model as well as the brand strength you can build off of.
Is it difficult being the franchise owner?
It's definitely hard work, but ultimately it's very rewarding.
Can anyone run the franchise?
While the franchisor will still take someone into a franchise with no business running experience, there are some requirements you should meet. For example, in the white-collar franchise, someone with experience in the white-collar role will be preferred.
Which franchise show is the biggest?
The International Franchise Expo or IFE is the biggest franchise show with tremendous global influence.
How profitable are the trade shows?
Trade shows are financial powerhouses, although their earnings can fluctuate significantly. This depends on various factors, such as the show size, geographical location, industry relevance, as well as the number of attendees. So earnings can range from thousands to millions.
What is the trade franchise?
The franchise trade is the platform for investors and brands for marketing, consulting, franchising, business buying, as well as reselling existing businesses.
Which is the biggest franchise in the world?
The biggest franchise in the world is McDonald's with $89 billion in international sales. In spite of increasing competition, McDonald's has been maintaining this spot each year ever since 2000 (that was when the rankings were released for the first time). To put its size into context, it's larger than Subway, Burger King, and KFC combined.
Who runs trade shows?
The trade shows are run by the association, organization, or company that is producing a show. It is in charge of each aspect of the show, such as branding and planning the event, promoting the event, securing a venue, and soliciting exhibitors.
Can you make some money at the trade show?
Every trade show requires a substantial investment, so it's important for you to do your best to earn the maximum returns at an event. While every business participates in these events for various reasons, most of them share the common goal, which is achieving higher sales.
How expensive are the trade shows?
You can expect to pay anywhere between $600 to $1,000 to attend a trade show (per person). But this is just an average as the price can depend on a specific trade show.
How to sell at the trade show?
- Know who you are
- Craft a convincing story
- Identify your target buyer
- Have a sellable product
- Prepare your sales and marketing tools
- Envision your booth display
How to run the franchise?
- Research Franchises
- Evaluate costs and opportunities
- Draft a business plan
- Form a business identity
- Obtain the Franchise License Agreement
- Hire employees
- Choose your business space
Is a franchise the business idea?
A franchise can be an efficient way for many entrepreneurs to start their business, particularly when entering a competitive industry like fast food or an already established industry that needs time so it can develop its operating processes.
Final Thoughts
As you can see, franchise trade shows can be vital for your business as they help you boost its success. Fortunately, there are many wonderful franchise trade shows you can attend to connect with your industry leaders, generate sales, and learn new strategies to further grow your business.
