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 [...]
As Seen in Multi-Unit Franchisee Report – Franchise Business Partnerships – Evil King or Hand-Cuffed President?
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 [...]
As Seen in Multi-Unit Franchisee Report – Planning for Success-ion: Insights and Advice on Passing It On
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 [...]
Succession planning inherently is very simply about the predictably of ongoing profits. And there are no future profits without leadership. So, succession planning is all about leadership bench strength. The fall of the leader should not be the fall of the business. Over 11 episodes, Jeff Bannon a Partner of [...]
When one chooses to be come an owner, at the same time you are choosing to become a leader of people. As such, it is just as important to continually develop your people skills in addition to business acumen. Aicha and Jeff discuss tools and resources for leadership development. Over [...]
Episode 7: How can franchisees attract young talent who want to stay & grow with their organization?
Culture is everything. It exists whether one intentionally works to develop the culture or not. A culture where one feels a sense of belonging, empowers its employees and provides growth opportunities motivates people to stay. Over 11 episodes, Jeff Bannon a Partner of The Rawls Group and Aichia Bascaro, President [...]