What does scalability mean for your business? You can scale your business in a way that allows it to self-fund. If you have an in-built capacity that is not a fixed cost but a variable cost, then the business model has a high level of optimal scalability. If so, you...
5 Bold 2021 Predictions for Franchising
With 2020 now officially behind us, we decided to pull out our trusty crystal ball and look ahead to the most significant changes that will happen in franchising in the year coming. Below we outline our favorite predictions for 2021. We are confident in all of them,...
Resilience
What really is resilience in business, is it even possible? With the franchising model it is. The aim of any business is to reach a point in which there is the ability to withstand any challenging events, whether external or internal, and continue to not only survive...
Franchise fun facts KFC
Did you know… - At 5 his father died. - At 16 he quit studying. - By 17 he already tried 4 jobs. - At 18 he got married. - Between 18 and 22 he worked as a driver and gave up. - He joined the army but didn’t make the grade. - He tried to enter judicial school and was...
Risk
How much risk exists in the business. This should strongly align with where you are at at the level of risk which is acceptable to you. This takes into account cash flow, fixed operating costs and levels of debt. If you are in the early stages you may be more open to...
Best Franchises to Own in 2021
We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money. According to CareerBliss,...
Scalability part 2
There is absolutely no way this doesn’t turn most readers off. I’m going to talk about something rather boring but the backbone of scaling a business. Systems. But, specifically the intricacies of a franchise system. Having solid systems and processes in place will...
Franchise fun facts Wendy’s
Did you know… The beginning of a journey – on November 15, 1969, Dave Thomas opened his very first Wendy’s restaurant in Columbus, Ohio at 257 East Broad Street. In no time, the quick-service chain became known for its square beef patties, made from fresh beef, and...
Criteria of the Ideal Business Model
There hasn’t been a more obvious time in history to challenge the way we do business. After the recent changes in the world, there is a need to reframe how we approach business and build businesses. The Ideal Business Model came well before this need but has never...