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As Seen in Multi-Unit Franchisee - Entitlement Is A Silent Killer Of Business

As Seen in Multi-Unit Franchisee - Entitlement Is A Silent Killer Of Business

Entitlement is a stealthy and dangerous virus that has a widespread and abundant impact in your business. Often it becomes so rampant and normal that multi-unit franchisee owners do not even know there are any entitlement issues going on right in front of them.

Let's start with understanding entitlement. Simply, it is when an individual believes they deserve to be treated differently than the rest of those around them. In business, entitlement exists when an employee or senior executive believes they should receive better or different treatment than their coworkers. There are a number of examples, but there are a few that have significant impact.

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Dan Iosue, CFP® joins The Rawls Group

Dan Iosue, CFP® joins The Rawls Group

The Rawls Group, one of the nation’s most respected business succession planning firms, is proud to welcome Dan Iosue as our newest associate. Prior to joining the Rawls Group, Dan spent more than a decade of experience in corporate leadership with Fortune 500 companies such as Panasonic and Eastman Kodak. He blends that experience with his six years as a financial planner with Morgan Stanley Smith Barney and Raymond James. 

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As Seen in Multi-Unit Franchisee - Understanding Private Equity - What You Should Know Before You Jump In!

As Seen in Multi-Unit Franchisee - Understanding Private Equity - What You Should Know Before You Jump In!

Private equity firms are an active force in the industry due to the rewarding investment opportunity the franchise business possess. They use their capital as a strategy for growth, or provide it as an option to those looking for a way out. There is no doubt that as a franchise owner, private equity (PE) provides you options. However, if you find yourself considering PE as a strategy, make sure you understand some of the unintended consequences in relation to your purpose and future business vision.

As an operator who is looking to grow, PE can be attractive. They can be your financial partner providing the capital resources necessary for growth, but without careful consideration you can also find yourself in your worst nightmare. Before you make a commitment to a PE partnership, it is critical to consider and understand the rules of engagement. Simply, make sure you know how to form the appropriate partnership in regards to your goals, and how you get out of it.

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As Seen in Multi-Unit Franchisee Report - Investing in Recruiting and Retention Programs

As Seen in Multi-Unit Franchisee Report - Investing in Recruiting and Retention Programs

Starting December 1, 2016, our industry faces potential impacts from new labor laws, one of which includes creating additional retention challenges to our already stressed talent pool in the franchise industry. The Fair Labor Standards Act (FLSA) of the U.S. Department of Labor (DOL) is making significant changes to overtime pay for employees. As outlined in the article, “New Overtime Rule Compels Problems for Franchisees,” the change means that it is going to force employers to shift the pay status of their employees from salaried to hourly.

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As Seen in Multi-Unit Franchisee Report - People Are Our Competitive Advantage

As Seen in Multi-Unit Franchisee Report - People Are Our Competitive Advantage

Competition in business is what helps to keep us focused on strategic growth. However, in today's landscape, competition is bigger, stronger, wider, and more present than ever. Innovations in technology give your customers access to similar products and services from companies that are not located in their geographic footprint. With a click of a button, an order can be placed, shipped, and received to a buyer that should have been yours.

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