You’re the CEO working on the 2018 budget, and once again you’re back in that same familiar spot–not hitting the targeted EBITDA your board and ownership wants.
Take this quick “Big Three” test now! If your perspective on the meaning of franchise development is a narrow focus on how many deals you get signed this quarter, I’d suggest you reconsider. Unless, of course, the focus of the organization is around selling franchises, not on adding shareholder value. Whether conscious or not, the […]
What will recent economic events mean in the long term? AlphaGraphics senior direct of franchise development posed that and other questions to several franchise leaders: Tasti D-Lite Chairman and CEO James H. Amos, CFE; The Dwyer Group President and COO Mike Bidwell, CFE; Edible Arrangements President and CEO Tariq Farid; Management 2000 Founder & President Bob Gappa, CFE; and Dunkin’ Brands Vice Pres. of Franchising Lynette McKee, CFE.
A key element of growing and expanding any franchise brand starts with recruitment. And the right recruitment is about attracting top-quality individuals who are a right fit and have a burning desire to climb in and learn your franchise system. These must be individuals who want to build a business to accomplish their own personal missions and goals. Many veterans fit this description. If military personnel are right for your model, you should consider the International Franchise Association’s VetFran program.
How do acquisitions affect franchisees? This question will be addressed much more frequently by management teams from both buyers and sellers as acquisitions become more common. Companies that franchise have caught the attention of private-equity firms, investment bankers, multi-brand franchisors, and Fortune 100 companies like Home Depot and UPS. Bottom line—the franchise method works and it’s attracting new investors and capital. Smart management teams will look deeply into how the acquisition will, directly and indirectly, impact franchisees if they want to create the most value.