Take ideas and strategies that you think might only apply to bigger companies, and relate them to small businesses.
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 […]
Thrive in the New Normal with Lessons from the Past Read More »
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
Those changes to your business you want to make – now is the time! Read More »
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.
Using Creativity and Brainstorming as a Strategy for Recovery Read More »
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
Marketing Strategies During COVID-19 Read More »
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
Climbing Out – What will it look like after COVID-19? Read More »
When I took over Monkey Bizness Franchising, an indoor kids’ play concept, in 2015, I asked our franchisees a question, “How many times do you think our average customer comes each year?”. We had four franchisees at the time and I got for different answers ranging from 6 to “I have no idea”. We had
The Power of Customer Data – Three Considerations for Finding Your System Read More »
While ordering food online through apps such as Grubhub or Uber Eats has only been around for a few years, it has made a huge impact. That impact will only continue to grow, especially for franchisors. According to a survey from orderTalk, 79% of Millennials ordered food last year via an app or a website.
Young and New Franchisors Should Crunch the Numbers on Online Ordering Read More »
Success for any franchisor can be measured by their number of healthy franchisees. The statistics bear out that franchises fail about as often as a regular business. This should be somewhat surprising because many franchise concepts are modeled after an existing business that has experienced a certain level of success. Many franchise systems have failure
3 Ways to Build a Financial Support System For Franchisees Read More »
While it is hard to get an exact count on how many franchise brands are in the United States, the number is somewhere between 3,500 and 4,000. While many of the periodicals dedicated to covering franchising devote most of their efforts to brands that are in the uber-growth phase or have well over 150 units,
Five Ways a CFO can Help you Stick Out in a Competitive Franchising Landscape Read More »
Spotify is going through changes. Recently their CFO announced he would be leaving and an in-house candidate was chosen to succeed him. The Company is in a fierce fight with the likes of Amazon and Apple over music streaming. They are also looking at ways to maximize ad-revenue and further monetize the growth of podcasting.
