Cresanti Inspires Students to Franchise
Following the dedication of the Titus Center for Franchising, students, faculty, staff and guests gathered for a talk led by Robert Cresanti, president and CEO of the International Franchise Association, about the ‘Economic Realities of Franchising’.
Cresanti told inspirational stories about himself and others who started with nothing and now are highly successful in the franchising business. Cresanti moved to the U.S. from Germany when he was 19 years old. He told the group of his grandmother’s name for the U.S. at the time, “the land of unlimited opportunities.” He shared that belief as he began his role with the International Franchise Association.
As Cresanti continued to speak about the growth in the franchising business, students were quite surprised in the vast amount of franchises internationally known. He showed statistics of well-known franchises including 7-eleven and McDonalds having well over half of their business overseas.
“I never really saw it [franchises] as being so international. I thought it was more U.S. based so I’ll definitely keep my eyes open overseas for that opportunity,” said international business major Brandon Miller, sophomore from Sarasota, Florida.
Cresanti added that franchises can have a positive impact on globalization by helping developing economies, building a larger middle class and establishing a supply chain. The statistic that franchising businesses occupy over 745,000 establishments in a variety of industries and employ nearly eight million people around the world inspired entrepreneurship major Chuck Schick.
“I think it’s pretty cool there’s a lot of opportunities that can be implemented throughout the United States. “I am definitely going to open a franchise one day,” said Schick, senior from North Palm Beach, Florida.
Cresanti closed his lecture by informing students of opportunities for networking and ways to get involved in the franchising business including the NextGen franchising competition.