GF Issue 54

9 SCHOOL OF ROCK Beating the drum for investors 10 EMPOWER BRANDS Rapidly emerging power player Last fall, Youth Enrichment Brands (YEB) acquired School of Rock, the leader in performance-based music education, adding to the best-in-class youth camps, sports leagues and swim instruction already provided by its platform. Backed by the Atlanta-based Roark Capital, YEB will provide further rocket fuel to the School of Rock’s already-impressive global expansion, which currently stands at more than 500 schools open and in development across 15 global markets, impressive for a brand that started as a single location in Philadelphia in the late 1990s. Already well established across Australia, North America, Latin America, as well as territories in Asia, Africa and Europe, School of Rock has now set its sights on finding passionate master franchisees to bring its patented curriculum to England, France, Germany, Italy and India in the coming months. The Grand Champion of the 2023 Global Franchise Awards, School of Rock School continues to grow based on its strategic plan of responsible growth, developing at a sustainable pace and scale where strong support and guidance is a continued guarantee for franchisees. The two-year plan includes awarding and opening 35 to 40 new domestic schools and 20 international Empower Brands was established a year ago through the merging and rebranding of two powerhouse franchisors, Lynx Franchising and Outdoor Living Brands, and currently runs 11 industry-leading brands across the commercial and home services sector. 2023 was a year marked by growth, expansion, investment and change. Empower surpassed $1.2 billion in systemwide sales, added over 200 territories (bringing the total to 800 across 42 states and eight countries), and grew its corporate staff by more than 40, establishing an experienced and franchisee-first SLT. Empower is now targeting at least 20% growth in new territories and is striving to hit $1.5 billion in systemwide sales by the year end, along with other growth milestones. schools annually as well as two new Country Master Franchises per year. The figures are enticing – investors are impressed by the consistent appeal of the concept, enhanced by strong unit level economics (Franchise Business Review named School of Rock one of the most profitable franchises in the U.S. in 2023) and return on investment. Ultimately, the schools perform well, evidenced by consistent double digit same school sales, perhaps the most important criteria of a strong business concept. businesses by providing them with a personal space in which to operate. The brand was created for entrepreneurs interested in diversifying their portfolio, with a semi-absentee model that allows partners to own a franchise without needing to manage employees or oversee every operation. “MY SALON Suite saw tremendous franchise growth throughout 2023, and expanding our corporate presence is the logical next step in facilitating continued development,” said Mark Jameson, chief development officer of MY SALON Suite parent company, Propelled Brands. “The addition of these outstanding salons to our portfolio underscores the strength of our network and resources. Continued acquisitions and conversions will be instrumental for both franchise and corporate locations, with corporate development allowing us to build a blueprint of the process for franchisees to capitalize on, ultimately amplifying our growth potential.” GLOBAL FRANCHISE.COM 23