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.
Inside Multi-Unit Franchising Succession Planning
It is Possible to Be Equitable
Strategies Evolve as Business & Family Evolves
Resources
Respect and Opportunity: Critical to Attracting & Retaining Talent
According to a new survey from Pew Research Center 63% of workers quit their job due to no opportunities for advancement, and 57% felt disrespected at work. People know how valuable they are to organizations, and if they don't feel respected and inspired, they will go somewhere else that can give them what they want. [...]
Turn Your Organization into A Talent Magnet
Qualified, loyal, and motivated employees are hard to find, and once you do find them, you want to keep them around. Therefore, having a pulse on the organization's culture is key to employee retention. So often, there is a disconnect between leadership and the needs of the people. John Dijulius of The Dijulius Group shared [...]
Golden Handshake: Retaining Key People as Your Business Evolves
Multi-unit franchise owners continue to experience growth. As we have discussed in previous articles, one of the keys to developing sustainable growth is DUPLICATION of successful strategies. Another key to growth is the ability to scale effectively which boils down to process, procedures, and PEOPLE. People are one of the most valuable assets to [...]
It is Possible to Be Equitable
Thirty-five years ago, Roland Spongberg started a restaurant company with one El Pollo Loco in Long Beach, CA. Today, WKS Restaurant Company employs 12,000 employees across 375 restaurants in 19 states operating Denny’s, El Pollo Loco, Krispy Kreme, and Wendy’s. From a pure family perspective, with six children, Roland initially [...]
Growth Strategies: Creating the Right Mix
Infrastructure is essential to support multi-unit franchising growth. Processes, procedures, marketing, talent, attractive culture, capital, and a keen eye for the legal technicalities are only a few of the diversity nuances that must be in sync for success. We recently asked Michael Einbinder, an attorney with Einbinder & Dunn LLP for growth insights from [...]
Duplication: Key to Creating Your Growth Playbook
Successful business leaders know how succession planning develops strategies to fulfill their long-term business vision, which includes business growth. Scaling your business from 5 to 10 units to 100 plus is a transitional process, which requires strong leadership, inspiring culture, talent, and vision. Profitable growth depends upon talent and teamwork as well as rock-solid [...]
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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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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.
