We have all been operating under the COVID-19 pandemic since mid-March. I feel like many of us, myself included, have been so occupied by everything COVID: lockdowns, hand sanitizer, face masks, and in-home schooling, that we haven’t really kept up with any of the other, normally interesting but not mind shattering happenings. Well, hey, that is completely understandable. Due to …
Get Creative: 5 Unique Ways to Raise Local Awareness
Article by: Lynne D. SheltonIt’s the one part of business that most of us don’t want to deal with, think about, or mention. It’s the tricky, it’s awkward, it’s painful. But it’s also necessary. No matter how much we may want to ignore it, the truth is this: Local Press is vital to the operation of your business. LOCAL PRESS Whether we like it …
Between Now and Normal – Turning the Franchise System Back On – Part 3
Article by: Lynne D. SheltonWe are concluding this 3-part series, on some best practices, or possibly let’s continue to say ‘anticipated best practices’ on how to Turn Your Franchise System Back On. So far in this 3 part series, we have covered Communications with the Franchisee; and Communications with the Public, in Part 1; and Communications with Prospective Franchisees and Communications with the Examiners …
Between Now and Normal – Turning the Franchise System Back On – Part 2
Article by: Lynne D. SheltonWe all thought 2021 would bring us “normal”, but this seems to be the decade that just keeps on giving. We are in the middle of this 3-part series, we will look at some best practices, or possibly let’s continue to say ‘anticipated best practices’ on how to Turn Your Franchise System Back On. As we look between Now and …
Between Now and Normal – Turning the Franchise System Back On – Part 1
Article by: Lynne D. SheltonIt has been said that we are living through unprecedented or uncertain times. This may be true, but what will become even truer as we push through 2020 is that nothing tomorrow is certain. It feels a bit to me like the ramp up of Y2K era from 1995 through January 1st, 2000. Everyone in the software and hardware industries …
SBA Lenders that are Franchise Friendly
Franchise Times published a report of some of the SBA Lenders to Administer Disaster Relief Funds for the franchise and restaurant businesses. The CARES Act recently was enacted by Congress to allows companies with fewer than 500 employees to obtain loans of up to $10 million from local SBA lenders through the Small Business Administration’s existing 7(a) loan guarantee program. …
65+ Key Performance Indicators with Descriptions
Article by: Lynne D. SheltonType of KPIs Description Cashflow KPIs Description Working Capital Measures an organization’s financial health by analyzing readily available resources that could be used to meet any short-term obligations. Operating Cash Flow The amount of cash generated by regular business operations. Cash Rotation (365/cash cycle) The number of times the cash comes back to the organization for a period of …
A fast food franchise could be your ticket to life in a tropical paradise.
Article by: Tracy Lee Wood Jr.Many of us dream of moving to a tropical paradise such as Thailand. However, unless you are independently wealthy or do not need to work for the rest of your life, you can only afford to stay there for a limited time before you have to return to the real world and start earning a living again. But what if …
The Making of an American Franchisee: Why Franchisors should focus on Veterans
Article by: Lynne D. SheltonPublished in the Franchising USA Magazine, August 2015 edition (click to view online) Franchisors looking for a laser focused method of growing their systems through choosing the right franchisees, who also have the correct cultural fit for their brand, would benefit by looking to the veteran pool of potential business owners. Veterans have instilled in them the teamwork diversity and ethical …
Franchise vs. Business Opportunity: The Debate On Every Entrepreneur’s Mind
Article by: Jason W. PowerTo read this article in its original format with Franchising USA Magazine, click HERE. What is the difference between a franchise and a business opportunity? This is a question that is on the mind of pretty much every person who attends a franchise or business opportunity trade show looking for his or her new career path. However, the people selling each …