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How to Sell Your Franchise During a Crisis
Shelley Bosio opened up her small donut shop in Littleton, Colorado, in May for the first time since closing in late March. Donuts are not typically a high volume delivery item that can be sold through UberEats, so delivery was not going to work for her business. During the first two weeks of the shutdown
Thrive in the New Normal with Lessons from the Past
As most small business and franchise owners emerge from quarantine, multiple questions hang in the air. What does the future hold next? When will consumers feel comfortable again? When will we get back to “normal”? Early indications from China and other countries that have “reopened” are that consumers will be slow to come out as
PPP Loan Guide Updates After Congress Approval
Congress has finally passed some much-anticipated updates to the Paycheck Protection Program. While the bill sits on President Trump’s desk for his signature, we can start to look at what was updated. Krieger Analytics My name is Matt Krieger, and I am the founder of Krieger Analytics, a CFO advisory partner for small businesses and
PPP Loan Forgiveness
Want to purchase this spreadsheet – for $39 save yourself hours of time. Krieger Analytics My name is Matt Krieger, and I am the founder of Krieger Analytics, a CFO advisory partner for small businesses and franchisors. I am also the owner and franchisor of a concept called Monkey Bizness, in Denver, Colorado. As a
Those changes to your business you want to make – now is the time!
I’ve talked with enough business owners to know most have things they would change. I am not talking about small stuff like plastic silverware versus metal silverware. Most owners I talk with say they have established some “norms” with customers or employees that are hard to change. In today’s environment, customers and employees are expecting
Three Ways Customers Might Change After COVID-19
…and How to Adapt Let’s talk about habits. There is an excellent book for franchisors and small business owners to read to learn about their customers behaviors– The Power of Habit by Charles Duhigg. In the book, Duhigg explains, “Habits emerge because the brain is constantly looking for ways to save effort. In another word,
Using Creativity and Brainstorming as a Strategy for Recovery
Businesses and franchisors that successfully emerge from the COVID-19 will need to rely on creativity. As an outsourced CFO, I have been working with franchise concepts and business owners on strategies to come out of the COVID-19 crisis. The ability to be creative and problem solve is the most crucial factor in developing a plan.
Creating a COVID-19 ReOpening Strategy
Though it is still unknown in many places when non-essential businesses will be given the go-ahead to reopen, that doesn’t mean that steps shouldn’t be taken now. If you are a restaurant or essential business, if you are planning on reopening “business as usual,” you will not be meeting expectations of most customers. Most franchisors
Marketing Strategies During COVID-19
As rumblings continue about how the economy will emerge from the COVID-19 crisis, I reached out to Kim Shepheard, President of Shepheard Marketing. Kim and I have been working together for years now. Kim’s a trusted advisor for my franchise, Monkey Bizness. She has been working in the franchise industry for the past five years
Climbing Out – What will it look like after COVID-19?
There have been glimmers of hope this past week. While the country is still embroiled in the COVID-19 crisis, a discussion is starting about when and how we emerge. For a futuristic person like me, this has been a welcomed dialogue. Before diving into specific business strategies, I think it is essential to start putting
Thoughts, Frustrations, and Strategies for Week 3 of PPP
The rollout of the Paycheck Protection Program (PPP) could be described in different ways. I have heard from many, and their experiences have been vastly different. Even within franchise systems, owners have had vastly different experiences depending on if they have a banking relationship and who it is with. As we sit here today, there
COVID-19 Cash Flow Forecasting
Hopefully most of my readers have been able to successfully participate in the Payroll Protection Program and/or the Economic Injury Disaster Loan Program for the SBA. As those funds start to arrive in the next couple of weeks, it is important to have a plan to use those funds and identify any upcoming shortfalls so