Since the 7-Eleven wage fraud scandal first made headlines in late 2015 up to today, franchising has consistently held the media’s attention in a way it is has not done before.
Franchising has once again been in the media spotlight in the past few weeks, and not for the many positive things happening in the sector. If you were to believe much of what has been published in the press, you’d be led to believe the viability of the entire franchise model of enterprise is in question.
You can take action to avoid a business fail, if you understand what to look for.
Greg Nathan, founder of Franchise Relationships Institute, attended a workshop with Olympics aerial ski coach Dustin Wilson on the psychology of high performance, and spotted eight good franchise leadership tips. Here he shares his insights…
Becoming a franchisor is an exciting prospect. Having a long held dream of working for yourself, with an idea that you have fostered in its infancy to finally release into the world and then creating an empire of franchisees around you to continue building upon your success sounds almost too good to be true.
Franchising ticks all the boxes when it comes to setting up in business – it’s just a matter of following the formula to replicate a brand’s success at a personal level.
For today’s franchisor, accounting goes beyond producing a clean, accurate set of books for the franchise. The accountant and their team need to understand the numbers, not just produce them.
If you’re like 79 per cent of the population, you’ve got a Facebook page, Instagram account or are active on some other social media platform.
As a franchise buyer, you might feel like you’re drowning in documentation. At a minimum, you’ll receive a franchise agreement and disclosure document from the franchisor, and if the franchise operates from a fixed site, lease documents as well.
What determines success in the franchise recruitment space? Suzanne Jarzabkowska CEO DCS Group and James Young,Head of Recruitment, DC Strategy, look at the issue.
The franchise relationship is unique – its most familiar equivalent being a marriage.
Remember that classic song, ‘I never promised you a rose garden’, written by Joe South, recorded by country music singer Lynn Anderson, and first released by Billy Joe Royal in 1967? That’s what most franchisors would sing to their franchisees.