Starting a business is always risky, and perhaps never has it been more fraught with peril than during these rocky and still uncertain economic times brought on by Covid-19. But multi-unit franchisees know that franchising offers more built-in security. The product or...
Franchising is an approach that is all about Scaling. There are plenty of examples of businesses that have scaled significantly as a result of having utilised the Franchising model. Many of these are now household names. So why should you consider this? Successful...
Did you know… On the healthier side of franchising facts, Gold’s Gym was among the first companies in the fitness industry to become a franchise. But it wasn’t the original owner Joe Gold that turned it into a corporation we know today. Thanks to Ken Sprague, and...
So a great way to approach any changes, improvements or ideas in your business is to apply the 3P filter. Will it deliver a better outcome for 3 Groups not just one or 2 - this will help you focus on the things that will have the biggest impact. Let me first explain...
1. Retail Franchises If your heart is leading you towards a retail store, yes it's still a viable option. But, to open a retail franchise, you need to do serious market research this year. How do you do that? One way to do good market research in your local area is to...
Cash cash cash. It’s at the core of your business whether we want it to be or not. The one thing we can say about cash for certain is it doesn’t like to stay still. Cash was designed to move. Be traded and exchanged. As I’ve talked about in the past… “One of the...
Did you know… In the 1850’s, Isaac M. Singer was in the business of making sewing machines. He had a brilliant product but lacked capital for mass production. He devised a business model in which he sold licensing fees to people that wanted to sell the machines and...
Every single business in the world has these 3 groups of people (3P). The constant challenge and tension is finding a way to create the optimum result for all 3 groups at the same time. This is the holy grail of business - get this right and you truly have a...
The unfortunate truth is the current pandemic has put more people out of work in a short time than ever before in our nation’s history. Many of those people are highly competent in their industries or have excellent business skills, creating a well-qualified labor...