We are in some interesting economic times, making it difficult to predict the future. As a result, many multi-unit franchisees wonder if it is time to hit the gas or break. We have talked to multi-unit franchisee owners who have the cash and are interested in investing in the future. And then some are tired and considering selling all or some of the business to feel more comfortable.
Either approach requires a business succession strategy to ensure you receive the highest multiple or to scale for growth effectively. Depending upon the business’s positioning and the owner’s risk perspective, there are opportunities for multi-unit franchisees to take advantage of economic headwinds such as supply chain and inflation issues.
In this episode, Michael Einbinder, with Einbinder and Dunn and The Rawls Group’s succession planner Jeff Bannon discusses various opportunities at Multi-Unit Franchisees’ fingertips to fulfill their long-term business and personal goals.
Growth Strategies for the Family-Owned Business
If you’re ready to get serious about succession and planning to ensure your business’s future success, then we can’t wait to see you at the 2023 Multi-Unit Franchising Conference in Las Vegas
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:
- Strategies for Multi-Unit Franchisees to Succeed Despite Economic Uncertainties
- 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.
Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.
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.
