Trust: It takes years to build and seconds to lose.
The annual IFA convention just came to a close. What an event! #IFA2021
People matter - we know that. Nothing has been more obvious in my career than the fact that people make all the difference.
You’ve started a single-unit business and it’s going really well. You have a good team, the business is easy to manage and you feel like you have the secret sauce to branch out and start expanding into additional locations as a franchise system.
What do you remember most about your first job?
A good franchise model is built on some obvious things: a repeatable business model, valuable brand, solid business economics and the quality of your training and marketing. These are tangible things that can be measured - you KNOW if they exist, or not.
The freedom of owning a business and having more control over your economic future - it’s an appealing and ambitious thought for many people.
What a year it’s been.
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.
