We were lucky to catch up with Derek Cafferata recently and have shared our conversation below.

Derek, thanks for taking the time to share your stories with us today So, let’s start with trends – what are some of the largest or more impactful trends you are seeing in the industry?

Despite a tumultuous year, franchising continues to show stability and growth. Currently there are over 750,000 franchise locations in the United States, generating over $670 billion dollars and employing over 7.5 million people. A franchise is a business model where a business owner, pays to use a company’s brand and products to run their own business. The franchisor controls the company’s branding, systems and development, and the franchisee runs their particular franchise unit within set boundaries and guidelines set out by the franchisor in the Franchise Disclosure Document. Owning a franchise business has many advantages. Being a franchisor is like being in business for yourself, without being in business by yourself.
While there are literally thousands of franchises within the United States, fast food dominates the top 10 rankings. Topping the list is Taco Bell, closely followed by Dunkin’ Donuts, each with an initial investment of between approximately $500,000 and $2 million. Fourth, fifth and seventh spots are taken up by Popeyes Louisiana Kitchen, Culver’s Frozen Custard and Jersey Mike’s Subs respectively. The UPS Store was ranked in third place with an initial investment of less than $500,000, while Kumon Tutoring rose to sixth place with an attractively low initial investment of less than $150,000.
Planet Fitness, 7-Eleven and Servpro rounded out the top 10 rankings in eighth, ninth and tenth place.

Derek, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?

I was born in the UK, transferred to the US on a work assignment in 1988 where I met my future wife Ruthann. We were married in 1990 and moved to Fort Worth, TX in 2007. My wife and I have 4 wonderful children. Valerie graduated from Texas Tech with a degree in Mechanical Engineering and works for Koch as a Project Manager. My oldest son William graduated with a JD and MBA from St. Mary’s Law School and is an Assistant District Attorney – Felony Division in Corpus Christi. My 2nd son Daniel graduated with his MBA in November and will complete his JD from St. Mary’s Law School in May. My youngest son, Derek, is currently studying Mechanical Engineering and Business at Texas Tech. On a professional note, I spent the majority of my career in senior management positions with Burger King Corporation.

After leaving Burger King Corporation, I started ALLSTATEFF.COM. We represent over 250 franchise brands. Our mission is to educate, guide and provide our clients with the best possible advice on any franchise business that we represent. The consultation process is free as our fee’s are paid by the franchiser. We also branched out into Management Consulting, Web Design, Marketing Solution and Creative Design for small businesses. In 2021, ALLSTATEFF.COM was recognized as the Best Franchise Investment & Re-Sales Consultancy in the US by M&A awards.

I am also Chairman of TRAVELADVANCES.COM -The first travel-focused social media platform of its kind. TRAVELADVANCES.COM was formed from an original idea based upon promoting travel in the US. With my involvement, we refined the idea into a “Holistic Concept” with the vision of what Amazon is to Retail, TRAVELADVANCES.COM will be to Travel.

Has it been a smooth road?
No – There are always challenges in business. The key is to surround yourself with the right people, who share similar values and have the drive to be the best at what they do!

Is our city a good place to do what you do?
Fort Worth is a fantastic city to live in and raise a family. It has that small town feel, yet so many opportunities for family activities and growth. The Kimball Art Museum, The Fort Worth Zoo, Sundance Square, and the River Walk are amazing! At the same time we are only 40 minutes from Dallas for major sports teams and concert events. Lastly it would be remiss of me not to mention Mattie Parker, the Mayor of Fort Worth. In my opinion she is doing a tremendous job!

Any advice for managing a team?

Inclusion and Diversity create a recipe for success when managing a team and maintaining high morale. They are not just feel-good marketing terms. Developing a diverse team is something that needs to be interworked into the DNA of all companies. Diversity businesses make for better work environments, create superior products, provide all-round better services, have a more influential reach and build a strong loyal following. A study from the Boston Consulting Group found that companies who focused on diversity and inclusion, specifically having a diverse leadership team, saw a 19% increase in revenue due to innovation.

Also, Company Values define what is important to us and how important they are to our success. They help to guide and determine our actions and attitudes in order to outwork those values into our lives. They are more than just a list of ideals. Our companies set of values define all business interactions and transactions, they mould and shape our company’s structure, culture, drive and reputation. If your employee understands and can clearly identify their company’s core values, then the likelihood is that customers will also be able to identify those same core values. This leads to greater customer satisfaction, a stronger customer loyalty base, higher employee retention and workplace satisfaction.

Are there any books, videos, essays or other resources that have significantly impacted your management and entrepreneurial thinking and philosophy?

I am a fan of Jack Welch. Jack Welch called his leadership ideal ‘boundaryless’, which means an open organization, free of bureaucracy and anything that prevents the free flow of ideas, people and decisions. He did not support the ‘i-am-the-boss-and-you-will-do-what-i-say’ style. He preferred inspiring others to want to perform. My favorite Jack Welch book was “Winning” in which he provided the reader advice for the most difficult situations we face at work and in life. Specifically in this book, Jack provided examples from his real life, and solutions to many problems we face daily, both personally and professionally.

Contact Info:

• Website: https://allstateff.com/
• Facebook: https://www.facebook.com/allstateff/
• Linkedin: https://www.linkedin.com/company/allstateff-com?trk=top_nav_home
• Twitter: https://twitter.com/allstateff
• Youtube: https://www.youtube.com/channel/UCYLp1bmVhAv9K9XuWIXvuSg