Happy New Year! This is our final episode of 2025 and this is a look forward. Instead of interviewing guests, Tom shares with you his thoughts and perspectives on new trends, predictions, and announcements for 2025.
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TRANSCRIPT
Dr. Tom DuFore (00:01):
Welcome to the Multiply Your Success podcast, where each week we help growth-minded entrepreneurs and franchise leaders take the next step in their expansion journey. I’m your host, Tom DuFore, CEO of Big Sky Franchise Team, and as we open today, I just want to wish you a Happy New Year or maybe a soon-to-be Happy New Year. This is our final episode of 2024, and this is a look forward into 2025. So instead of interviewing guests, I will be sharing with you my thoughts and perspectives on what I think are going to be the budding seven trends for 2025. So let’s go ahead and just jump right into them.
(00:44)
The first big trend that I see that is going to continue is that AI, or artificial intelligence, is going to continue to integrate into marketing, into sales, which will eventually lead into operations and other parts of business. And what I see as the big challenge going forward, I think we’re starting to see some of it already, is what is real and what is not. Real meaning made by a real human, made by an artificial intelligence and almost kind of this cyborg type of thing that’s being created to say, “Well, it’s maybe a little bit of both.”
(01:24)
I was just reading a study that was published in a new academic journal talking about how some scientists didn’t assessment on a couple hundred publications that had been put out by researchers, okay, not just average blogger or so out there, but these are professional researchers. They analyzed a couple hundred recent papers that had been submitted, and they found an alarming rate of AI being used without citation. They could tell just by the tone and phrase, there was some way that in which they did it. So I think that this is going to continue. It’s going to be problematic, and I think the big thing is what’s real and what isn’t.
(02:06)
Number two on my list is the new administration and new Federal Trade Commission chair. So with the new administration coming in and new FTC chair, all new administrations from a federal level as they come through, it’s going to have changes, and it seems like at least from the initial assessment and information that’s been communicated, that the new administration seems to be more focused on pro-business. We’ll see what happens with the tariffs that are being talked about and how that might impact businesses and industries and so on. And then of course, the new FTC chair and what that means for franchising with joint employer and other rules and requirements and regulations that orient around franchising. So we’ll see what comes from that. My speculation is that we will get some clarity, a lot greater clarity and certainty on what this means for franchising, how this is going to impact franchising so that all of the businesses and suppliers in the space know better how to respond and react.
(03:15)
Number three on the list, I’ve got a few of these in here, but this is one talking about Big Sky. So here’s a trend that’s going to be happening here. Be on the lookout. We are going to be for the first time ever in four and a half years, we’re getting into year five here, but we’re four and a half years into our podcast. We’ve never had a sponsor for our podcast. This year, we are going to start considering and exploring sponsorships. So if you happen to be listening to this or know someone who might be a sponsor, we would love a referral or feel free to reach out to me directly or to our podcast manager. We’d be happy to speak with you if there might be an interest.
(03:55)
Number four on our list is about Big Sky again, and it is the official launch of a new division here called Skybound Strategies. Skybound Strategies is a digital and live events management company, and we have launched this. We’re in the midst of a soft launch right now, but as we move forward into 2025, we’re going to be providing additional services that over the years many clients have requested from us, and we have a fantastic staff on our team that’s going to be taking lead on this that has great experience. So if you’re listening and say, “Boy, I’d love a new franchise site,” or a franchise marketing audit on my digital marketing assets or need help with my annual conference that we’re planning, please reach out. We’d be happy to help you out. You can go ahead and contact me directly and I’ll get you connected with our staff and team.
(04:48)
Number five on the list is inflation and interest rates. Some of these could be separated out, but the bottom line is these two are kind of tied together to a certain extent. I think that in general, my prediction is inflation is going to stay low and really level out. We’ll see what happens with interest rates. What we’re seeing is that although these Fed funds rates are declining, we’re not seeing a decline in long-term interest rates, which to me is an indication, there’s still a lot of uncertainty in terms of economic conditions. So this gets back to point number two on the new administration. I’m hopeful that the new administration, FTC chair can really put at ease the business community of what certainty looks like over the course of the next four years or so. So I think if that happens, I think that inflation and interest rates will really start to, at least, I don’t want to say subdue, but maybe maintain or stay flat. That is what I expect, which ultimately will help us in franchising.
(05:54)
Number six on our list is that Big Sky is launching a new mastermind group, so be on the lookout for that. If you’re a franchisor and you are looking for a community to get a gentle, friendly nudge and have some peers to connect with and learn from your friends here at Big Sky Franchise Team, be on the lookout for joining that. We’ll be getting communication out to a select few for our initial group that will be starting, and our first members club that will be joining with that. So be on the lookout and if you have an initial interest, again, you can reach out to me directly.
(06:33)
Number seven on my list is the continued interest of venture capital and private equity in franchising that’s only gaining steam. We continue to see this movement, and so I just think that if you have an interest in growing, expanding, private equity, venture capital, it’s for real. It’s here. It’s continuing to grow in franchising. So if you’re thinking about franchising or you’re in the midst of maybe just launching to start franchising, this is just a reminder that a real legitimate exit is there. I would not have been as confident to say that 10 years ago or 15 years ago, but at this point in franchising, I feel very, very confident. It’s a very real thing.
(07:17)
Other housekeeping items to make note of is we are going to continue at Big Sky to provide our webinar series, educational webinars, subscribe to our podcasts. If you have not subscribed to this, Multiply Your Success, subscribe to our other podcasts, Franchise Your Business, and subscribe to our YouTube channel that has over 600 videos, podcasts, webinars, and other information on there for you to take a look at.
(07:43)
So that is our quick summary here. One, to keep it short for you, as I know you are in between Christmas and New Year’s Day here, so just wanted to take that time to say, Happy New Year to you and yours and may 2025 bring you many blessings, many joys, and much, much prosperity. One final housekeeping item is please, please, please do not forget to set your goals for 2025 or do your annual planning. Set it for your business and set it for your personal life as well. It is going to make a big difference, whatever those goals are, I would keep it brief, three to five at most. Set it go after it, make it happen this year.
(08:30)
That’s our episode today. Folks, thank you so much for being here. Thank you for your continued support for another wonderful year of our podcast and this franchise world. So please make sure you subscribe to our podcast, and always, we love reviews. Please give us a review if you can, and remember, if you or anyone might be ready to take their business to the next level or franchise our business, please connect with us at bigskyfranchiseteam.com. Thanks for tuning in, and we look forward to having you back next week as we start 2025.