We 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 …
Advice for Future Franchisors
Article by: Lynne D. SheltonWhen we talk with business owners, many times they have questions regarding what they should be evaluating and thinking about when they are planning on franchising. This article is designed to focus the business owner on whether they can or should franchise, and if so, what they need to be working on to get ready. Franchising is not a business …
Is it a Franchise or a Business Opportunity?
Article by: Lynne D. SheltonWhat is the difference between a franchise opportunity any business opportunity? A business opportunity simply gets you started in a business. Once you start your business, you are basically left on your own. In contrast, franchise opportunities imply a contractual relationship with the franchising company, a partnership that will exist as long as you’re in business, typically 10, 20 or …