Franchising, A Strategy for Added Value
To be successful in franchising, it’s the franchisors responsibility to listen to you and adapt to your needs. Those of us who work directly for a franchisor, recognize that we have a profound obligation to ensure the future success of YOU, our franchisees.
Our partnership demands that we make ourselves available to you...that we listen to your concerns...react to your suggestions for change...that those of us in headquarters must be sensitive to your needs, and responsive to your requests. And it also means we have an OBLIGATION to protect your franchise, and to secure your investment, by sometimes doing what’s unpopular in the short term...but necessary for the long term.
In addition, we must all also recognize that when two partners always agree, ONE of them is unnecessary. In other words, we must be EVER conscious of the IMPORTANCE of each member of the partnership.
The outlook for the industry is Bright!
You adopt a strategy of “Added Value” in ALL parts of the business, to help develop a perceived price?value advantage, over the competition. Then lay out a program of improvements, in all areas of the business...from food, to building and décor through marketing.
Make GIANT strides towards accomplishing that quality goal. Show TRUST in and COMMITMENT to the relationship, and you make the changes and upgrades asked for.
That commitment will pay off not only in improved results in your business, but it will also pay off in terms of the competition.
Overtime Pay Rule Takes Effect December 1, 2016
On May 18, 2016, the U.S. Department of Labor (DOL) announced its final overtime pay rule under the federal Fair Labor Standards Act (FLSA), which will take effect on December 1, 2016.
How To Finance Your Franchise - Part 1 (Options)
In this first of a two-part series on financing we look at the common options and discuss the pros and cons of each.
The merits of using a franchise broker
Buying a franchise is akin to buying a house. You’ve got to spend a lot of time looking, considering, comparing and thinking. And most of us don’t want to do all that work on our own.