Emotion: Passion (4)
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Franchisee Candidates Need to Evaluate the Franchisors Corporate Culture
Posted by Franchise Grade Team January 21, 2016
There are numerous activities that relate to the process of evaluating a franchise opportunity. These activities include; reviewing the FDD and especially the franchise agreement, gaining feedback from franchisees and analyzing the performance of the franchise system. However, one area that doesn't get the attention it deserves pertains to the culture of the franchisor. Corporate culture begins with franchise leadership and works its way throughout the organization. The importance of corporate culture applies to all companies, with the exception that franchisees rely upon the franchisor to provide the vision, guidance and support necessary to operate a healthy franchise system.
Read moreYour Home Office - What You Need To Know
Posted by Franchise Grade Team March 26, 2015
Nearly everyone has a space in their home or apartment that they use as a home office. As you begin to consider investing in a franchise, your home office will be where you begin – transforming it from where you pay household bills and make/take business-related phone calls, to the business office you will be using on your journey to franchising. In fact, regardless of what type of franchise business you’re planning to get into, it’s almost certain that you will be getting started out of your own home office. Further, some business are ideally suited for being run out of a home office rather than an external, on-site location like the back room of a restaurant location. On that note, there are many due diligence tasks you need to address when transforming your space into a business office for your franchise. Following are a few of the most critical.
Read moreHow to Inspire Loyalty and Boost Your Staff Retention (Part 1)
Posted by Franchise Grade Team December 12, 2014
A business succeeds or fails because of the people involved.
Read moreWill You Freak-Out or Hunker Down?
Posted by Franchise Grade Team November 5, 2014
Sometimes motivation is forced upon us. We are thrust into the Un-comfort Zone. And, whether we sink or swim depends on how we respond to the situation. How do you react during a crisis?
Read moreDeliver More Than Food: Deliver Experience
Posted by Franchise Grade Team September 8, 2014
There are stories of innovation all around us. All we have to do is look and listen. I was reminded of the power of innovation recently when I watched this video of a pizza delivery system in Mumbai.
Read moreAre SBA Loans A Problem For The Franchise Industry?
Posted by Franchise Grade Team May 26, 2014
Getting access to credit is a major issue for franchisees, particularly those first buying outlets. So franchisees and prospective franchisees need to understand what different lenders are looking for in potential borrowers.
Read moreUnderstanding the ROI of Social Media Marketing
Posted by Franchise Grade Team May 24, 2014
Before assuming you know that social media is where every franchise needs to be, let’s take a look at some numbers:
Read moreHow Invaluable Are Local Directory Web Sites For Your Business?
Posted by Rich Stark May 20, 2014
One of the most important aspects of local business marketing on the Internet is the inclusion of your small business in as many local business directories as possible. Local business directories include Yelp.com, Yellow Pages, Google Places and CityPages.com to name a few. It goes without saying that the more business listings you have, the more visible your business is and the more opportunities you have of obtaining new leads or customers.
Read moreHow To Measure Business Metrics For Owners And Managers
Posted by Franchise Grade Team April 25, 2014
In order to achieve the profit potential of any business, an owner or manager must utilize key business measurements of performance. Almost all small businesses only utilize the profit and loss and balance sheet financial statements their accountant issues. The message is that while these two reports are important, they will not, by themselves, enable an owner to be able to manage effectively.
Read more#1 Way To Succeed With Your Franchise
Posted by Franchise Grade Team April 11, 2014
Just prior to boarding a flight that was the last leg of a long day of traveling, a well-known author and consultant tweeted: “Hey, @Mortons – can you meet me at newark airport with a porterhouse when I land in two hours? K, thanks. :)” Imagine his surprise when he got off the plane to find a tuxedoed gentleman holding a bag with a 24 oz. Morton’s porterhouse, shrimp, potatoes, bread, napkins and silverware.
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