The freedom of owning a business and having more control over your economic future - it’s an appealing and ambitious thought for many people.
A few weeks ago we discussed a few of the top ways that franchisees can fail - most of which come down to not staying connected and following the franchise model. Today, we’re going to dive into a few of the key ways that franchisors can fail and hurt the future success of their business, as well as their franchisees.
When it comes to starting a new business, purchasing a franchise is just about the safest investment you can make. These organizations are built on a proven system and brand that has been improved and refined over time to produce the best results - for both the franchisor and franchisees. Franchising has many advantages over independent start-ups, however nothing is easy or guaranteed! There is still a lot of hard work that goes into running a franchise business - as well as steps that must be followed if you’re going to get the best results.
I was recently asked to participate in the IFA’s Marketing, Operations & Development (MOD) Virtual Conference as a panel discussion moderator. The topic was Making Peer Groups More Effective to Support Franchisees, While Adding Long-Term Value.
Are you afraid to talk about your failures? Most of us are - but whether in business or in life, that’s how you learn and grow!
If you’re a franchisor or multi-unit operator, you’ll want to check out the new article I wrote for LeaseCake. It’s a cautionary tale about what can happen when a busy franchise organization doesn’t have the systems and tools in place to manage their locations effectively - and the important details that can slip through the cracks.
It’s an important question for franchisees who are trying to grow a business. After all, knowing where you are going is how you plan and grow!
As a former franchisor and franchisee for multiple brands, I can tell you with certainty that franchising works - and can create great opportunities for success.
But success is never guaranteed - and there are mistakes that franchisees can make along the way that can hurt their business' growth.
In my latest FranchiseWire article, I discuss four of the most common franchisee mistakes - and how to avoid them. You can check it out here: https://franchisewire.com/
Are You Ready to Make the Move From Founder to CEO?
There is an unseen phenomenon in businesses where the Founder - who worked so hard to start and build the company - suddenly becomes a roadblock to its future success.