There is an old adage, “Never let a good crisis go to waste,” and COVID-19 is providing a lot of opportunity for us to learn and protect ourselves from a future crisis. Back in 2008-09 businesses learned the importance of having cash on hand, minimizing costs, cross training talent and [...]
“You Are like Family” is a phrase many often say to friends. Over time and connectivity, the emotional ties with neighbors, teammates and colleagues grow to feel like family. Bring this dynamic to your business, and the size and complexity of your family begins to grow exponentially. As a result, family dynamics can become [...]
If you are a risk-taking multi-unit franchise owner and looking to grow your business quicker, you may be considering private equity. Before you jump in , consider the following questions for "How do you get IN, and HOW do you get OUT? From the “How You Get In” consider the following questions: What are [...]
When the next generation of family does not want to keep the business going, there are options available. You can liquidate, sell or keep the business long after you are gone. You first have to identify what your goals and vision look like, and then you need to rely on [...]
Flexibility and building trust are cornerstones as we move into the new normal. Safety protocols will continue to evolve and franchisees will need to be flexible in order to continue to navigate them. Kim Kraemer with Citrin Cooperman Accountants & Advisors, Michael Einbinder with Einbinder & Dunn LLP, Jeff Bannon [...]
The measures to stop the spread of COVID-19 have created swift change to our business environment. Some business' have had to close while some are scrambling to implement new strategies to deliver products/services to generate revenue. It may feel like you have been dealt a pile of lemons, however; their are ways to make [...]
The Evil King vs. the Hand-Cuffed President - who do you want to be? Our experience has demonstrated that the best way to position yourself and your successor is somewhere in the middle. Certainly, no one wants to run a business without the autonomy to make critical operational decisions. Creating a lasting business structure [...]
Curt DiPasqua's connection to his family was strong enough to pull him away from a career practicing international law and into a partnership with his father, mother, and brother that became hundreds of Subway sandwich shops in 11 Central Florida counties. Jeff Bannon is a partner with The Rawls Group, which has focused on [...]
Leaders are everywhere. As a multi-unit franchisee it is your responsibility to build a culture to attract top talent and create development opportunities to grow them. Over 11 episodes, Jeff Bannon a Partner of The Rawls Group and Aichia Bascaro, President of American Franchise Academy discuss leadership - keys [...]
Without a focus on recruitment and retention, franchisees will find themselves constantly short staffed and spending time and effort hiring to fill holes versus spending time focused on growing the business. Each hire is so important, the impact it has on team dynamics, cost of promoting the role and cost [...]
