Even though Wall Street predicts 2022 and 2023 will have 10% growth in earnings and isn’t currently anticipating any slowdown, many multi-unit franchisees have expressed concern over economic uncertainties. Talks of inflation, change in tax law, ongoing supply chain issues, and labor shortages have multi-unit franchisees wondering how or if they need to readjust their business strategy.
Some multi-unit franchisees who have focused aggressively on growth have cooled their engines. And then there are multi-unit franchisees sitting on cash, looking to ramp up acquisitions, and looking for good deals. And finally, others are unsure which way to go, sell some, sell out, and/or refocus on fundamentals within their existing footprint.
In this episode, Michael Einbinder, with Einbinder and Dunn and The Rawls Group’s succession planner Jeff Bannon discusses how to overcome economic headwinds facing multi-unit franchisee owners.
For more insight:
Visit the Multi-Unit Franchising: Succeeding Despite Economic Uncertainties discussion page or select one of the additional episodes of the series below:
- Determining Your Best Multi-Unit Franchising Strategy
- Protect & Grow Your Multi-Unit Franchisee Business Investment
- Incentives to Attract & Retain People For Multi-Unit Franchising Growth
- Building a Culture People Want
Resources
- Einbinder & Dunn: Einbinder & Dunn’s founding partners have been practicing law for over 30 years in franchising, litigation, real estate, business, fashion, and trusts and estates.
- Succession Readiness Survey: A 7-minute investment in time will put you in an informed position of opportunities many business owners overlook, impacting business value, growth, and lifestyle, and ultimately achieving your vision.
- Contact a Succession Planner: The Rawls Group can help you with insights and 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 immediately.
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.
