Charleys Is Ready For The New Era of Franchising

What is the New Era of Franchising?

Welcome to the New Era of Franchising. Indeed, financial experts agree the franchise industry is entering its next major phase as brands continue to grow and help drive the economy. On the heels of the Covid-19 pandemic and the ensuing Great Resignation, which saw unprecedented numbers of workers leave their jobs for better opportunities, franchises have emerged as one of the most prized and sought after career paths. To be sure, The Great Resignation upended the American workforce, and saw many people – fed up and burnt out with the corporate, daily grind – pursue their dreams of business ownership. For so many, franchising was seen as the perfect balance between running your own business while not assuming the risks of an independent start-up.

“Franchising has demonstrated adaptability and resilience in the face of multiple challenges in recent years,” according to a report in Global Franchise. “Facing a volatile geopolitical world and uncertain global economies, more challenges can be expected. The Great Resignation, however, has attracted a new talent pool to the world of franchising, providing opportunities for people looking to make changes in their careers and lives. In turn, this has added breadth and depth to the franchise community. We could well be entering a new age of the franchise.”

A Perfect Storm

Global Franchise’s report goes on to say that a demand for a better work-life balance, along with a growing desire to find more meaning in work, on top of a pent up frustration to resign, caused a perfect storm in the American workforce. According to a study conducted by Microsoft, more than 50% of 20,000 people surveyed said they were burnt out and overworked. A report in Gallup, too, found an astonishing 85% of employees worldwide were uninterested in their work. For so many dissatisfied workers, franchising was the solution.

Franchises saw a growth of 3.1% in 2022 in the U.S., following an exceptionally strong year in 2021. In all, franchise systems had an economic output of $826.6 billion in 2022. For aspiring entrepreneurs, franchises offer a variety of opportunities. Also, the turnkey nature of franchises allows entrepreneurs all the benefits of running their own business, while also being provided a proven business model and strong support system. Franchise owners know from the outset important factors like investment, cost, and potential profits. And they also have the power of brand recognition you just don’t get with a startup.

“At every level, local franchise businesses offer opportunities for economic and career advancement,” International Franchise Association President and CEO Matthew Haller told Global Franchise. “For aspiring entrepreneurs, franchising removes barriers so they can more easily open their own businesses. On the other side of the Great Resignation is a great reimagination that has emboldened white collar workers and store employees alike to become local business owners.”

Charleys Philly Steaks is Ready for 2023

Charleys Philly Steaks, America’s favorite spot for the classic Philly cheesesteak, is primed to ride the wave of the next era of franchising. In fact, Charleys Philly Steaks plans to add more than 150 restaurants in 2023 alone! This, following the cheesesteak franchise opening more than 100 new locations in 2022!

“This is an exciting accomplishment for Charleys and for every member of our team,” said Charleys Philly Steaks, Director of New Store Opens Terry Collinsworth. “Opening 100 stores in an economic climate like this requires amazing people behind you.”

Charleys Philly Steaks now boasts more than 700 locations in 46 U.S. states and in 17 countries, and is ready to expand even more. So what’s driving all this growth? Put simply: incredible demand on top of a business model that’s proven to work and easy to scale. And Charleys Philly Steaks has no plans of slowing down.

“Our goal is to reach 3,000 stores in the coming years,” says Charley Shin, CEO and founder of Charleys Philly Steaks. “We’ve been growing at about 60 stores a year for the past several years, and about 70% of our growth comes from our existing franchisees reinvesting in the brand—which is extremely positive. We exist to help our franchisees become successful in business, and we want to help as many entrepreneurs as we can. This brand has never been more successful than it is today, and we’ve never been more excited about the future.”

Join the Nation’s Favorite Philly Steak Brand

Whereas other franchise restaurant segments like pizza, burger, and tacos are oversaturated, Charleys Philly Steaks offers a unique opportunity in the QSR market. America loves the classic Philly cheesesteak, yet there remains little competition in the market. As the largest franchise known for its Philly cheesesteak, Charleys Philly Steaks has become the household name and favorite among Americans everywhere.

Charleys Philly Steaks business model is expertly designed to set our franchise owners up for growth. We have several different restaurant models that offer flexibility and versatility in operations. Our business model works with freestanding units with drive-thrus, end caps, strip malls, food courts, and gas stations, to name a few. Plus, Charleys Philly Steaks offers training and support on everything from real estate and site selection, initial training, ongoing support, marketing assistance, securing low food costs, ongoing business development, and much more!

“Our only priority is to ensure that our franchisees are profitable,” Shin says. “We have developed a strong culture of support that helps our franchisees in every aspect of running their businesses, and we’re enormously proud of their achievements. We can’t wait to welcome more entrepreneurs into our franchise family as we continue to expand across the United States.”

Learn More about Franchising with Charleys

As the next era of franchising kicks in, now is an amazing time to jump aboard with Charleys Philly Steaks, which is primed for expansion across the U.S. over the coming years. If you’re an aspiring entrepreneur who wants to be part of a brand on its way to 3,000 new locations in just a few years, check out our research pages here or make a request for more information today!