Supplier Spotlight 006: FranData CEO Darrell Johnson & President Edith Wiseman

This is a value packed episode that we recorded during our summer tour. On Day 26 we got to meet up with Darrell Johnson (CEO) and Edith Wiseman (President) from the FRANdata team to talk about data. In order to gain (and keep) an edge in business, especially in todays modern times, it pays to be on top of the data. This episode explores how these 30 year franchise industry veterans (and FRANdata) help the franchise sector as the "Forrester or Gartner of franchising". In the episode we get in to these questions/ topics and more: 1. How you got into franchising   2. FRANdata has been in the business for more than 30 years now, what are some of the changes you have seen over the last three decades?     3. Having consistently studied the performance and growth of more than 3800 brands across the years, What do you think franchisors should fear the most?      4. What are the most interesting questions that franchisors want you to answer?     5. People refer to FRANdata as the Forrester or Gartner of franchising, why is that?        6. Why is it important to work with franchise focused market research company?      7. How would you characterize the work that you do for franchisors?          8. Who are your best clients and how do they work with you?          9.  How do you think market research can change the course of a brand's trajectory? Or What is the affect you have seen with your research?          10. Advice to mature brands          11.  Advice to emerging brands  About Fran Data: FRANdata works with clients on their most challenging performance issues, investing significant time and effort in developing and renewing a knowledge base that offers unique perspectives and insights. Thy apply their understanding of market and industry forces to develop long-term macroeconomic perspectives. They take a central role in developing performance standards around particular areas of the franchise model and set the bar based on those standards – because of this task, certain industry measurements and standards of reporting were born: true failure rate, unit time-to-breakeven, the Bank Credit report and the franchise continuity rate. "We enable clients to achieve lasting success in franchising. Our work is founded on a rigorous understanding of every client’s business context, industry dynamics, and market climate. We study franchise trends and emerging best practices because we believe that in order to serve our clients, we must stay ahead of the game." Audio Engineer: Ben Kiever