The landscape of the business world shifts over time and so should yours. Change is the only constant on which you can depend.



 



By Dara Maleki



“Franchise.” To many, the word conjures images of a complex and complicated business model. True,

Success is hard work and winning demands an indomitable entrepreneurial spirit in ourselves, brand leaders and in the entire company. With the right partners, great things can happen.

With your brand’s reputation on the line, whom can you trust and where do you find them?

Site selection is not a science, but it’s all about finding the location that will work best for your business.

Prospective franchisees dive deep into your FDD before buying. It’s time franchisors follow that due diligence example by reviewing agency’s marketing disclosure documents when exploring new or reviewing current relationships.

Any franchise operator looking for credit needs to make sure he is getting the right deal, not just the “best” deal.  

A franchise is only as strong as the support behind it and change is much easier when everyone involved is working together toward a common goal — to build a better franchise.

2015 was marked with legal developments that will fundamentally impact employment and franchise relationships. Five of the more significant labor and employment issues to watch in the coming year include joint employment, worker classification, wages and overtime pay, paid sick leave and background checks.

When building a training platform, separate what specific information must be conveyed to new franchisees immediately, and what new franchisees should learn over time. Dividing these components will allow franchisees to better retain information and more effectively execute roles and responsibilities. 

A multigenerational franchise partnership offers the opportunity to create a lasting legacy within a family and pass the business down for generations to come.