The multi-unit franchising sector has been on an upward trend in recent years, and it is easy to understand why. Entrepreneurs see the potential for success in owning and running multiple franchises, with this business structure establishing itself as an attractive option in the business landscape. Multi-unit franchising offers a unique set of opportunities [...]
A hornets’ nest or even a beehive from afar appears to buzz with activity. It’s quite interesting to watch nature in action, which ironically is very similar to families and working in a family business. There are roles each individual plays and a set of standard operating procedures that allow [...]
Multi-Unit Franchisees Face Unique Economic Challenges Multi-unit franchisees need to stay agile in the ever-changing market in order to capitalize on growth opportunities. Even in uncertain times, there are still prospects for growth. For instance, a downturn in acquisitions could lead to more attractive prices, and an influx of employment chances could attract new [...]
A successful family business can provide opportunities to all who are associated with the owners or viewed as family. History has proven, the odds of family business success through multiple generations dwindles with every ownership transition. However; where many family businesses have failed, there have also been many family businesses [...]
Growing a business is as much about strategically planning for potential threats and weaknesses as it is about delivering a high-quality product and service. Our business, economic, and political environments are in a constant state of flux, so it is essential to have a clear vision and goals, as well as strategic action plans [...]
Private equity firms have been making waves in various industries, from healthcare to technology, and even sports. While private equity (PE) may seem appealing due to the potential for high returns and the various options it offers as a business owner, it is crucial to understand the unexpected outcomes that may impact your business [...]
Multi-unit franchisees face an uncertain landscape with the effects of Covid-19 on the economy. As succession planners, we are often asked how to create strategies to grow and protect our business in such a changing environment. Whether it be investing more and risking more, or pausing and reflecting on current processes, it is important [...]
Understanding the Prevalence of Conflict Conflict is a prevalent challenge in business ownership. In recent times, we have seen the effects of conflict both on a global and local scale, with ongoing tensions in the Middle East, political instability in different countries, and disagreements between leaders. But conflict can also exist in our personal [...]
Many business owners struggle with conflict and unrealistic expectations among their leaders, employees, and families. To prevent this, it's crucial to create an attractive work culture that promotes bonding and understanding beyond just driving revenue. This can be achieved through company events, cultural practices, and getting to know each other on a personal level. [...]
In family business environments, it is common for business owners to feel overwhelmed by the question of who will become “king” or “queen” when there are multiple capable family members working in the business; especially when not all candidates are suitable for the leadership role. Competition among family members can be either positive or [...]
