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What Are Your True Labor Costs?
Posted by Franchise Grade Team November 11, 2016
So let’s discuss a huge potential profit leak in your business, which in my experience, affects most service related franchises and small businesses. So often franchise owners cut head count, advertising, marketing and communication expenses to try to improve the bottom line without realizing the real cause of the profit erosion.
Read moreThe Potential Advantages of a Partnership
Posted by Franchise Grade Team October 11, 2016
Many entrepreneurs need capital to start a business. Many times to secure that capital, instead of borrowing more money, or if they cannot borrow more money, they enter a partnership. This can be a good or bad move. There are advantages and disadvantages to a partnership. I have consulted with one business that worked fairly well and I have consulted with many that were dysfunctional.
Read moreDefeating the De-Motivator, When seeds of doubt creep into consciousness!
Posted by Franchise Grade Team November 20, 2014
The sweet strains of a Puccini aria cut through the Saturday night clatter of the busy Italian restaurant in New York City, but it wasn’t coming from the aging voice of the Sicilian baritone who was hired to belt out favorites like Funiculi-Funicula. It was a soprano whose crystal clear voice filled the room. Within moments all the ambient noise came to a halt. Diners stopped eating and talking, busboys stopped clearing tables, the cooks even came out of the kitchen.
Read more3 Items Required To Land A Franchise Business Loan
Posted by Franchise Grade Team October 22, 2014
Financing a franchise is really no different then financing any other business – at least in the eyes of the lender.
Read moreCan You Crowdfund A Franchise?
Posted by Franchise Grade Team October 14, 2014
Currently, in the United States, there are two ways to crowdfund a business or a project.
Read moreThe Disadvantages of Franchising
Posted by Franchise Grade Team October 12, 2014
While the franchising business model offers several advantages to people building retail chains (see my post last month), it also has several disadvantages. Would be franchisees should be take these disadvantages into consideration when deciding whether to purchase outlets in franchise systems.
Read moreDealing with Customer Complaints
Posted by Franchise Grade Team October 4, 2014
Customers that appear to be difficult are usually caused because they are emotional. You must defuse the emotion before you can effectively work with them. This means effectively projecting empathy for their issues. Convincing the customer that you understand, that you feel badly for their problems and frustrations and genuinely want to help them will then normally allow you to hold a constructive conversation that can achieve a satisfactory resolution.
Read moreHow To Motivate Employees Through Incentives
Posted by Franchise Grade Team September 15, 2014
Most employers look for ways to motivate and reward their employees.
Read moreUnleash The "Lobsters" In Your Business
Posted by Franchise Grade Team September 11, 2014
Recently, while at our family lake house, my daughter (Sophia) and I were walking along a wraparound deck connected to the top level of the house on our way down to go for a boat ride. Just before we headed down the wooden stairs and on to the path down to the boat, Sophia looked down and said: “Daddy, is that a lobster?”
Read moreThe Most Important Buying Decision You’ll Ever Make
Posted by Franchise Grade Team September 9, 2014
Once you’ve decided which franchise to buy, what is the most important buying decision you’ll ever make to ensure its success?
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