Franchise Succession Planning Puts You in Control
The face paced and complex world of multi-unit franchising by nature is risky. You have to managing the diversity of franchiser expectations, rely on the strength of the brand and remain competitive in an environment where customers experience is critical to your success. Growing strategically and fulfilling the needs and wants of family/employees are also a few of the many issues franchisees juggle to develop a sustainable business. This is why an experienced franchise succession planning team is vital to your business transition.
As experts in the complex, we advise multi-unit franchisee owners on the 10 interdependent Succession Matrix® perspectives, to position your business for growth, to sell to a third party, or transition to the next generation. We leverage our more than 40 years working with franchise owners to provide clarity and a strong path forward.
Whether you are looking to grow your business and/or looking towards business transition, our meticulous attention to the probable, possible, potential details allow you to prepare and avoid any looming franchise succession planning issues impacting your goals.
What happens when you decide to take the next step towards the future you imagine…now? Business ownership by nature is risky; succession planning however creates strategies and structure to put you in control.
Resources
Taking “IT” to Another Level – Leaning Into An Alter Ego
Want to be a better leader, a better communicator, create more options, and move closer to what you want? Alter egos creates the opportunity to turn up or down characteristics, strengths, etc. in certain environments. You can borrow success patterns from one area of your life or leaders/influencers you respect [...]
Succession Planning – Create Options & Avoid Catastrophe
It’s been nearly two years of navigating uncertainties brought on by COVID-19. Wouldn’t it be nice to change the narrative and focus on “THE KNOWN” and what we can control? The first KNOWN is our current tax laws, and that they will be changing. In the recent series: “What’s Up with President Biden’s Tax [...]
When are Taxes Going Up on Capital Gains?
As of August 2021, because Capitol Hill has yet to agree on funding, the timeline is still anyone’s guess. In the Green Book, which is the White House’s policy wish list, their goal is to increase long-term Capital Gains significantly. Even though we can’t speak to the timeline yet, tax increases [...]
How to Create Boundaries Between Family and Business
The focus for this installment of “Dear Dr. Merlot” is Family Governance. Family Governance policies are the first step to create boundaries between the family and the business. The specific question we will cover from Loyd's book Family Business Heartburn Relief: Answers to Gut-Grinding Family Business Questions is: How do the [...]
What is the Lifetime Gift Tax Exemption and When Will It Be Cut?
Currently, as of August 2021, the Lifetime Gift Tax Exemption for each individual is about 11.7MM per person, which is the highest in history. This means a married couple could gift about $22.7MM to the next generation tax-free. However, based upon the White House’s wish list of how to fund [...]
Die Hard Lesson #337 – Plan Or Die, Don’t Do Both
A plan is simply a snapshot in time. It considers all assumptions made at the time of developing it has played out exactly as prophesized. But, our worlds are action-packed and dynamic, which leads to the saying by Robert Burns “The best-laid plans of mice and men often go awry. [...]
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The Succession Planning Matrix
The Succession Planning Matrix
Many people put off succession planning because they think it means retirement, exit, and the end. However; succession planning is just the beginning. It gives the owner options in terms of what “their next” looks like, whether that be growth, philanthropy, or a new business venture. Our process focuses are addressing 10 key areas of what we call the Succession Matrix.
Click the following link for more drill-down resources on The Succession Matrix, or check out our Facebook post.
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Contact Us
Contact Us
We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.
