Before you make that next deal, or as you start and/or continue with your growth plan, you should ask yourself a few vital questions surrounding growth and building value: Do I have synergy among my management team and leadership? Teamwork and management synergy is imperative to business succession simply because you as the franchise [...]
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 [...]
The automotive retail sector continues to be hot in the M&A industry. Family offices, private equity groups and other private investors are looking for ways to expand their portfolios. It is not rare to see such activity in the automotive retail sector. What is rare is the generational dealers, those who are two and three [...]
There always seems to be confusion around defining business strategy when it comes to the term succession planning. Unfortunately, multi-unit franchise owners are not alone in being critics thinking succession planning is not something needed until retirement draws closer. Often what creates this muddied misconception are emotions which tend to lead owners to think [...]
Differences between siblings, cousins, in-laws, or between parent and child can be devastating to family relationships and the business. It may begin with some small incident that escalates or a series of decisions that never gets resolved due to differences in perspective or opinion but regardless of the trigger, it can lead to devastating [...]
Many franchise owners struggle with employee turnover and motivational leadership. No doubt many competitive business environments are difficult, with long hours and stressful deadlines. Employment rates are near an all-time low, so how do you keep your best people motivated to stay? And how do you inspire your good employees to strive to be [...]
It’s easy for Nextgen leaders to get involved and make swift changes. The path to change can appear so clear, but many potholes are lurking in the shadows. Loyd Rawls and Dr. Merlot (Loyd’s alter ego) share a real life story about a Next Gen leader dealing with the balance of evolution versus revolution in [...]
When starting out, business owners are not looking at the end game. Much less is there thought of engaging in succession planning. After all, isn't succession planning for when the end in near? That is where most business owners make their mistake, thinking succession is only about exit strategy, estate planning and retirement. And [...]
Apathy, skepticism and disgust are sentiments shared by millions of Americans as a result of the greed and selfishness pervading our society today. For some, it is definitely all about the money even if generating business profits is at the expense of others. Others see money and profitability as a measuring stick of how [...]
Culture is critical in recruiting and retaining top talent. Part of building a winning culture is ensuring you are hiring the right people. The stronger your team of people, the more efficient your operations will run and the more likely you will have a bench to groom future managers and leaders. How does all [...]
