The International Franchise Association will expand its events and media holdings with the acquisition of Franchise Update Media.
In a deal set to close by the end of the year, the purchase will put the Multi-Unit Franchising Conference and Multi-Unit Franchisee Magazine, along with numerous franchise education, franchise opportunity and market resource products, under the IFA umbrella.
“We’re trying to grow as an organization, and this is a lot better way to grow than starting something new and competing with what’s already established,” said IFA President and CEO Matt Haller as he noted the association is in a strong financial position to make the investment.
“Ultimately, we want to build a bigger tent for our advocacy work,” he continued. “We view this as really accretive to what we’re trying to do already.”
Gary Gardner and Therese Thilgen founded Franchise Update Media 37 years ago and the company had been actively pursued for purchase by other event groups and private equity firms looking for a presence in franchising, Gardner said. Those offers, however, were “transactional plays.”
“They weren’t about the future of franchising,” Gardner said. “It became clear that the IFA, in its current form, that we were completely aligned in our purpose, especially with what they’re doing now with the ‘Responsible Franchising’ efforts.”
“It didn’t feel right to just sell off for the top dollar to one of these private equity companies.”
One of the IFA’s longest-tenured supplier members, Franchise Update Media is already a strategic partner to the association, helping create and expand the Franchise Leadership and Development Conference and Franchise Customer Experience Conference.
Franchise Update Media will keep its respective brands, platforms, events and organizational structure intact. Gardner and Thilgen, who are chairman and CEO, respectively, will be on contract likely for three years, Gardner said, and even after will remain involved in franchising.
“We’ve been at this for nearly 40 years, and now we’re also franchisees with one of Barbara Moran’s concepts, Turbo Tint,” he continued, referencing the automotive window tint franchise that’s part of Moran Family of Brands. “We opened three this year.”
The conference and event space is one in which the IFA is looking to play a bigger role. For years it worked with MFV Expositions to put on the International Franchise Expo in New York City, typically held in late May, but is no longer engaged with that show. Instead, the association announced in August a partnership with global event organizer Fortem International to launch The IFA World Franchise Show.
The inaugural event is set for May 9-10, 2025, at the Miami Beach Convention Center and will include franchise exhibitors and education sessions geared toward prospective franchise buyers.
“Our aim is to take more control over franchisee education,” said Haller. “And with this event we think we can breathe fresh energy into the expo environment.”