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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.

Read the complete article on the Multi-Unit Franchisee Report website

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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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Webcast Replay: Turning Investment and Planning Roadblocks into Roadmaps

Webcast Replay: Turning Investment and Planning Roadblocks into Roadmaps
 

 

 

 

Turning Investment Roadblocks into Roadmaps

Click Here to Access Replay of Webcast 

Hosted by The Rawls Group - Business Succession Planners and Bernstein Private Wealth Management.

Entrepreneurs we meet often struggle with turning their vision into reality. Market fluctuations, cash flow, capital expenditures, family, ability to recruit and retain top talent, and a litany of other influences quickly take the business off course. Common questions we hear are:

  • How do I overcome roadblocks to grow my business and increase value?  
  • How can I feed the golden goose while also building personal wealth independent from the business?
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As Seen in Multi-Unit Franchisee Report - Creating Harmony in Sibling Partnerships

As Seen in Multi-Unit Franchisee Report - Creating Harmony in Sibling Partnerships

Sibling partnerships create a dynamic environment - especially when managing relationships in a highly competitive multi-unit franchisee organization. Everything can feel personal because nothing can be "just business."

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As Seen in Digital Dealer Magazine - Where Do You Fall in Your Dealership – Flintstones or Jetsons?

As Seen in Digital Dealer Magazine - Where Do You Fall in Your Dealership – Flintstones or Jetsons?

Think back to 2006. Think specifically about how technology has influenced our everyday lives. Do you remember what the business environment was like?

In the last 10 years we have grown used to having immediate access to information, and absorbing everything digitally in the moment. But when you look at the timeline of technological advances, it is shocking to realize that it has only been nine years, (yes, I said nine!), since the iPhone was released, revolutionizing the way we interact and find information. Even more of a shocker is that it was not until 2010 (only SIX years ago) that Apple released their first iPad, moving consumers from digital readers, to full functioning tablets. Now think, how prevalent are phones and tablets in our daily business and personal lives now? How have these devices changed the way you and your team conduct business? How does it impact the way your customers find and interact with you?

Read the complete article on the Dealer Magazine website

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As Seen in Multi-Unit Franchisee Report - Achieving Sustainable Excellence in Your Business

As Seen in Multi-Unit Franchisee Report - Achieving Sustainable Excellence in Your Business

Multi-unit franchisee businesses, regardless of the concept, location, or size, all strive to build value, create longevity, and generate success. Ultimately, with value, longevity and success, the world is your oyster. No matter your short or long term vision, whether it be a high value sale or transfer to a key manager(s) or family.

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As Seen in Multi-Unit Franchisee Report - Technology And The Multi-Unit Operator

As Seen in Multi-Unit Franchisee Report - Technology And The Multi-Unit Operator

How often do you conduct business via your cell phone? And when was the last time you took a picture with a traditional camera? Technology has developed so today, that our phone has become our constant companion fulfilling a variety of needs. If you had to guess when the first camera phone was released, would you know? I was surprised too, it was 2002; and it was one of those flip phones. Today, in addition to taking pictures, we can stream live video, and even see the person with whom we are talking, in the moment! The reality check here is that although the introduction of the camera phone was impressive at the time, it was a very small step to introducing a new way to communicate.

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As Seen in Automotive Buy Sell Report - Selling Your Business Because You Want To Not Because You Have To

As Seen in Automotive Buy Sell Report - Selling Your Business Because You Want To Not Because You Have To

As your business vision develops over time, evaluating the option to transfer the dealership(s) to family, key management, or to sell to a third party can be an emotionally draining process. As a successful dealer, passion drove you to make sacrifices and take risks to develop a strong automotive enterprise. Seeing the seeds of your labor that you planted early in your career grow and develop over time fuels your drive for the business.

Read the complete article on the Automotive Buy Sell Report Magazine website

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As Seen in Digital Dealer Magazine - Not Everyone is Built to Lead and Sometimes Leaders Are Overlooked

As Seen in Digital Dealer Magazine - Not Everyone is Built to Lead and Sometimes Leaders Are Overlooked

How often have we seen ineffective leaders in senior level positions? Likewise, how often have we seen a manager that demonstrates exemplary leadership skills? A question many of us probably don’t ask ourselves enough is: what is the difference between management and leadership? Without careful consideration, many of us would probably naturally question if there really is a difference.

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IRS 2704 Proposed Regulations - Significant Impact on Family Business Succession Planning

The Internal Revenue Service has proposed regulation changes that impact tax consequences of stock gifts or sales to family members in a family business environment. As a result, the valuation discounts that have been a cornerstone to family business succession planning may no longer be available for certain transfers. These changes could go into effect as soon as the next 120 days

Due to the extreme change the IRS proposed legislation will have on the family business planning environment, we asked our general counsel, ShuffieldLowman, to provide an Advisory Notice detailing the impact IRS 2704 would have on planning and potential outcomes.

As always, if you should have any questions, please call us at 407-578-4455 or contact your succession planner.


Proposed Regulations Eliminate Discounts 

Bill Lowman, Shuffield Lowman Attorneys and Advisors

The Internal Revenue Service closely scrutinizes transfers between family members of stock, units, and partnership interests (“Stock”) in any corporation, limited liability company, or partnership that is family-owned (a “Family Business”). The Service has announced proposed regulations that eliminates the use of valuation discounts that would otherwise decrease the estate and gift tax value of such Stock when transferred by sale or gift to family members. If any of your clients are considering a gift or sale of Stock in a Family Business, they may want to consider taking action right away to implement the planning.

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As Seen in Multi Unit Franchisee - Family Business Perspective Matters

As Seen in Multi Unit Franchisee - Family Business Perspective Matters

An owner's perspective about the purpose and who the business serves directly impacts culture, ability to recruit and retain good people, and drive performance - all of which influences customer perceptions, revenue, and profits. In the franchise industry, often times, multi-unit franchisees do not intuitively view themselves as a family business owner. This misperception can and does have an impact on overall business success, sustainability, and value

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As Seen in Multi Unit Franchisee - Strategic Planning Creates Exciting Future

As Seen in Multi Unit Franchisee - Strategic Planning Creates Exciting Future

Some things in life are actually fun to plan - weddings, vacations, and special celebratory events. The planning that goes into the event usually leads to a happy outcome, even when there are bumps along the way.

Business Planning, however, usually gets a bad rap. Mention business planning to a multi-unit franchisee entrepreneur or a fast moving, high-energy executive and watch their eyes begin to gloss over. So how do we make business planning fun, exciting, and worthwhile for those involved?

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As Seen in Digital Dealer Magazine - Family and Business Separation – Is it Possible?

As Seen in Digital Dealer Magazine - Family and Business Separation – Is it Possible?

In a family-owned automobile business, the dealership and general business dynamics often become the center of family interaction.  Read Amy's unique perspective on how to create boundaries between family and business from her experience as a family member employee in her family's business. 

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As Seen in Multi-Unit Franchisee - True Business Success Requires Liquidity

As Seen in Multi-Unit Franchisee - True Business Success Requires Liquidity

Everyone feels the liquidity pinch some time or another. Growth, acquisitions, internal investments, taxes, and bonuses take capital and drain liquidity. With all of these needs using up your cash, it can be hard to set some aside for a rainy day, but that's just what you should be doing to ensure the future success of your business, says Champ Rawls.

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As Seen in Multi-Unit Franchisee - Leading By Example: How to avoid Common Mistakes even Smart Leaders make

As Seen in Multi-Unit Franchisee - Leading By Example: How to avoid Common Mistakes even Smart Leaders make

There's no such thing as a perfect leader, but some leaders are indisputably better than others. Learn how to harness your strengths, and avoid common mistakes with these tips from leadership expert, Dan Schneider.

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As Seen in Digital Dealer Magazine - Finding Your Place in the Family Business

Finding your role in a family-owned dealership can be a difficult task. Not everyone is cut out or may care to take on the responsibilities of Successor/Owner, so where do you fit?

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As Seen in Multi-Unit Franchisee - The Emotional Toll Of The DOL Ruling

As Seen in Multi-Unit Franchisee - The Emotional Toll Of The DOL Ruling

Changes to the DOL rules may stir up concerns of employee turnover, especially in an environment where it is difficult to find good committed people. Learn how to motivate and retain employees that are affected by the new ruling on overtime pay.

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As Seen in Multi-Unit Franchisee - The Trouble with Saying ' I Got This'

As Seen in Multi-Unit Franchisee - The Trouble with Saying ' I Got This'

Designated successors generally have a vision of what being "the leader" is; I will do this better, this differently, and these changes will be made immediately. As one works toward this role of leader or owner, one key component to understand is the practice of humility. Champ Rawls discusses how to avoid the "I Got This" mentality to better yourself and your team during the transition of ownership.

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As Seen in Digital Dealer Magazine - Four Ways to Keep Peace in the Family Business

As Seen in Digital Dealer Magazine - Four Ways to Keep Peace in the Family Business

Owning a business is hard; owning a family business is even harder. Learn how to prevent and resolve family business conflicts with these four simple steps.

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As Seen in Multi-Unit Franchisee - Turning Today's Employees Into Tomorrow's Leaders

As Seen in Multi-Unit Franchisee - Turning Today's Employees Into Tomorrow's Leaders

One of the biggest challenges of business ownership is attracting good talent - but retaining them is even harder. As a multi-unit franchisee business owner, you look at your strong employees as future leaders. With changing demographics in the workplace creating generational diversity, how do you turn your current and future employees into leaders?

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