Franchise brands face risks around every corner. From the federal government shifting rules about employment to weather patterns impacting commodity prices, franchise executives need to keep a sharp eye to recognize risks and even sharper wits to determine what risks can be mitigated.
As the leader of a growing franchise organization, your role is ever changing. Many hats will be worn over time as the brand is built. Franchising is a tried and true method for accelerated growth; however, going from being a small-business owner to serving as the CEO of a multi-unit franchise brand is no easy transition.
A franchise’s strategy for future growth will not focus just on expanding the system but will also grow its base of company stores.
The Supplier Forum Advisory Board serves to represent all suppliers within IFA and help further the association’s mission to protect, enhance and promote franchising. there is no better way for suppliers to show their commitment than by becoming and maintaining their membership in the International Franchise Association.
The benefits of a franchisor partnering with an approved strategic real estate company are far greater than the risk and harm of referring a new franchisee to a third party national real estate firm or a local commercial agent.
The process of running an effective business is built on a foundation of good communication. Yet good communication eludes us. It seems that the fundamentals of how we communicate are broken. Take a moment to consider how things would be different if everyone in your organization were on the same page, communicating effectively, and working together.
Franchisor annual meetings, more often, are being pitched as “the ‘blockbuster’ meeting of the year” by many franchisors and, depending on the key goals of the meeting, that may be the right emphasis. That is, provided the franchisor’s and franchisees’ needs are being met.
Properly designed systems and processes can help ensure compliance and provide guidance for navigating problematic compliance issues that frequently arise.
Franchisors should pay close attention to their franchisees’ maturation. Data shows more than half currently have average tenures of about seven years and may be facing mid-life crises. In lifecycle terms, business years are like animal years, where one year is equivalent to several human years.
New rules create a multitude of workplace and compliance challenges. The U.S. Labor Department, together with the White House, announced long-awaited and much anticipated final changes to the Fair Labor Standards Act’s overtime rules