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The Economist Group Announces Online International Franchise Fair

The Economist Group Announces Online Franchise Fair

The Economist Group recently announced plans for an online international franchise fair, slated to run March 24 & 25, to connect prospective entrepreneurs with franchise opportunities in the U.S. and abroad. Organized by the famous magazine publisher's new Online Fairs division, the virtual franchise convention will showcase major brands from across the $700 billion franchise industry.

According to event organizers, currently confirmed franchise concepts include (but are not limited to):

Simulating a traditional franchise convention, the web-based event will be presented through a series of virtual booths, allowing attendees to chat directly with franchise representatives, attend information sessions, watch live webinars, and network with fellow participants in real time. The emphasis is on convenience and access: prospective franchisees will be able to log in at any time during the event, target the most relevant information, and quickly connect with the franchise concepts that pique their interest.

“This fair is an essential event for those looking to invest in a franchise or expand their current ownership,” explains Isaac Showman, Vice-President and Head of Online Fairs for The Economist. “It provides a unique opportunity for attendees to communicate directly with franchisers, and to explore their options all in one place.”

The concept of a virtual franchise show isn't entirely novel -- there are organizations that run several such events each year -- but marrying the online trade show model with an international business brand of The Economist's stature presents a potent and compelling combination. It's no shock to see the quality of the franchise systems taking part, and we anticipate a heavy turnout of attendees to match.

Participants may learn more and register for the event, free of charge, by visiting The Economist's International Franchise Fair sign-up page.

Quantifying Yelp's Impact on the Restaurant Industry

Luca studied the effects of Yelp ratings on the revenue of restaurants and discovered several interesting findings. Studying the relationships of restaurants' revenues to their Yelp reviews in Seattle over a period from 2003 to 2009, he found a significant relationship between a restaurant’s average rating and revenue. One star’s worth of improvement on Yelp leads, he found, on average to an increase of between 5 and 9 percent in revenue. The average rating is more important than the review, as many Yelp users are overwhelmed by the sheer number of reviews on manyrestaurantpages and find it easier to consult the star rating. Luca also found two features which exacerbate the effect on revenue Yelp has. First, the more reviews a restaurant has, the more impact an increase in its Yelp rating will have on its revenue. Second, the more reviews by Yelp “elite” members, the more impact; “elite” reviews have almost twice as much impact as other reviews.

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Was Aristotle The First Great Salesperson?

Aristotle said that all persuasive arguments have 3 common elements, and he gave these elements some great names (which suspiciously sound like the names of the Three Musketeers):