College and Business Are Like Oil and Water
October 25, 2017
To me, college is like a guided tour of a museum. You know what you’re going to see and often what the outcome will be before you even start. Someone holds your hand, shows you the way, teaches you and guides you through the journey. At the end, the finish line was always the same; you completed the tour and received your degree. You knew exactly what you were getting before you even started.
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Three Reasons Why Your Business Could Fail
October 13, 2017
Starting a business can be exhilarating, challenging and rewarding. The excitement and thrill of building a successful business from the ground up is difficult to top. But the excitement and enthusiasm can quickly fade away to a daily grind and workload that can break some people. I’ve read that 96% of businesses fail within the first 10 years. To me, this statistic seems a bit high but the specific percentage doesn’t matter it’s the fact that most businesses fail within 10 years.
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The TOP 4 Traits Of A Successful Franchise System
October 3, 2017
There are certain traits that set successful franchises apart from their competitors. A successful franchise system is a healthy franchise system. There are 4 key traits that when used together help build a healthy franchise system. Adopting these traits leads to low franchisee turnover, an attractive investment opportunity for new investors, sustainable outlet growth and strong brand recognition and consumer satisfaction.
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How Delivering Bread Is Like Writing an Email
September 25, 2017
I owned a Canada Bread franchise for almost ten years. I delivered over ten million loaves of bread. Every morning at 2am I’d be in the grocery store shelving bread so that when the store opened and customers came in, the section looked great. I am proud of what I did. Proud that every day that section of the grocery store was perfect.
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Slack – Just another workplace distraction
September 22, 2017
It takes a lot of pieces, moving in the same direction, to run a successful business. In office communication, it’s critical to ensure everyone is on the right path, there are no blockers and everyone knows what they need to do.
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The #1 Reason You Are Scared to Open Your Own Business
September 14, 2017
Owning a business is hard. I should know. Since I was 12, I’ve had a variety of business ventures from delivering papers to installing kitchen countertops, owning student rentals properties, investing into a Canada Bread franchise, operating a property management company and now Franchise Grade.
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How Much Money Can “X” Franchise Make?
September 11, 2017
How much money can I make?
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Franchisings Biggest Problem - Consumer Driven Investing
September 7, 2017
We all joke about the concept of a prospective franchisee investing into a franchise because they like the taste of the food. They went to an out-of-town restaurant on a Saturday night and it was packed so they want to bring it to their home town. They had a personal consumer experience with a company and were happy with the result. They’re passionate about the services offered to consumers by that franchise, so they’re excited about the brand.
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Franchise Systems are Stretching for Growth
September 6, 2017
It’s hard to grow a franchise system. Selling franchises can be daunting at times. To try and cast a wider net, some franchise systems differentiate their business model to appeal to a broader range of investors. This means that they’ve created multiple ‘buildout’ options to offer investors. These buildouts, based on square footage as an example, can be two completely different investment ranges and attract two different types of investors.
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The 6 Most Common Careless FDD Errors
September 1, 2017
I’ve written several articles identifying ways to better use your FDD as a marketing tool. What’s interesting to me is that most franchise executives see the FDD as a legal document and nothing else. This could be the result of attorneys being the only authority on FDDs and that executives have deferred a number of decisions about their FDD to their legal counsel.
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