There’s an old adage that the worst presentation is the one that’s never given. This seems to be a mantra many franchisors apply to the presenting financial data in their Item 19 disclosure in their Franchise Disclosure Document (FDD). Too often, franchisors rush to publish an Item 19, despite results that might not be as […]
Navigating Item 19: Strategies for Boosting Your Franchise Sales Read More »
When it comes to franchise support, there are two areas where I see franchisors fail to meet their franchisee’s needs. These observations come from working with franchise systems of all sizes. I work with clients starting up with a couple of units to those with as many as 200 units. I was a franchisor in
Keys To Succesful Franchise Coaching Read More »
Most franchisors come to learn that they don’t make money from selling franchises. After selling and training costs are deducted from the initial franchise fee, there is often little left over. What franchisors learn is the path to lasting wealth in franchising is paved with the steady flow of recurring royalties. There are so few
Selling Franchisees Isn’t the Golden Ticket but Coaching Is Read More »
As a franchisor, you are probably aware that new franchisees can often require a bit of coaching. What you might not be aware of, though, is how critical that coaching can be: Every year, hundreds of new franchises fail, and many of those failures can be attributed to a franchisee’s lack of financial understanding. In
Financial Coaching for Franchisees Read More »
Opening a franchise is a significant decision and one that involves a certain amount of risk. The legal relationship between franchisors and the franchisees is also complex, and involves many difficult legal and financial concepts. Often, prospective franchise buyers are overwhelmed by the recruitment process or turned off by financial concepts that can seem like
The Role of a CFO in Franchise Sales Read More »
As an entrepreneur, you are probably aware that gut feeling counts for something in business. Often, being open to what your intuition is telling you can be an advantage. Decisions made from the gut have produced many business successes. However, decisions without data is not a sustainable formula for success. There is a difference
The KPI Primer For Franchisors Read More »
Managing franchises is a difficult, involved process. Franchisors feel the understandable need to focus on growth, and that can mean trouble with prioritizing finance or accounting strategies. Often, the first many hires a franchisor makes are marketing or sales professionals. This preoccupation with growth can mean that franchisors get ahead of themselves and fail to
The Accounting Department for Franchising Companies Read More »
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
How to Sell Your Franchise During a Crisis Read More »
…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,
Three Ways Customers Might Change After COVID-19 Read More »
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
Creating a COVID-19 ReOpening Strategy Read More »
