An update on the IFA Franchise Relations Committee regarding the current plans and goals of the FRC, as well as a refresher of all the great things it has to offer IFA members.
The statistics involving the lifespan of a family business are kind of grim. While there are a lot of family businesses in the United States — 5.5 million, per some accounts — they don’t all stick around. According to Harvard Business Review, 70 percent of family businesses never become a business run by the second generation. Only 10 percent make it to a third generation.
Striking work-life-community balance as a young franchise owner.
New study finds your top employee talent may be at risk. As the saying goes, “be careful what you wish for.” Just a few years ago, franchisors were yearning for less regulation and a stronger economy. Now, with the economy humming along and unemployment rates at historic lows, some franchisors are struggling to grow.
Five strategies to improve the way you interact with customers at events.
With the right attitude from both sides, a franchisee association can be an effective instrument in providing a better future for a franchise system.
No doubt about it, good relationships are good for business, particularly in franchising. But why does the relationship between franchise owner and franchisor break down? There are many reasons beyond the scope of this article, but a logical reason to consider first is the quality of communications between and among the parties.
Creating a strong brand identity through the power of networking.
One of the challenging responsibilities of a franchisor is how to develop and implement effective franchisee operational support programs. These programs have the added responsibility of meeting, and exceeding, the franchisees support needs in a cost-effective and efficient manner.
All franchise systems face significant challenges at one time or another. How those challenges are managed and even used to strengthen the franchise system separates the great franchisors from the rest of the crowd.