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 [...]
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. [...]
The CEO succession question is a pertinent one for all companies: Does your organization have a plan to ensure that the leadership role remains secure and effective in the long term? Is there bench strength for all key leadership roles, in addition to the CEO? To build business value and ensure the continuity and [...]
There are countless strategies for achieving your personal and business vision. Whether it is a family-operated business integrating family into leadership/ownership positions, keeping the business as a family asset but delegating operations, or selling to a third party, the key is to determine the right strategies specific to your unique goals. Like most car dealers, [...]
