Franchise

Tips for accounting Cost of Goods and Labor Into A Sale

As a franchisee, David Ostrowe operates multiple locations for Burger King, Taco Bell, and Blaze Pizza. His organization operates three franchise companies: Blazing Partners, 180 Business Solutions, and O&M Restaurant Group. However he worked on the corporate side of franchising for Church’s and Taco Bell for years.  One of the business skills Ostrowe has developed …

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McDonald’s not Leadership Worried About Franchisee Relationship

On a recent earnings call, McDonald’s CEO Steven Easterbrook said he was unconcerned over pushback from many newly unified franchisees within the restaurant chain’s system. Last October, a group of franchisees within the McDonald’s network banded together to form what they’ve dubbed the National Owner’s Association (NOA) to speak with a single voice to the …

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6 keys to owning your own franchise and being successful. Here are some keys for franchise success!

1. Make sure you have enough money. * Determine how much you have to invest, how much you’re willing to risk and how much you will need to live on for at least 12 months. * Make sure you understand the initial investment required. * Make a careful and rational decision about buying the franchise. …

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Multi-Unit Franchisee Insight – Hiring, Firing, and Handling Problem Employees

We talk to successful multi-unit operators constantly here at Franchise Update Media. These busy on-the-go people share great insight and wisdom with us through our profile stories in Multi-Unit Franchisee magazine. Here, from our archives, are some insightful responses from some of these franchisees. How do you hire and fire?I always look to hire good, …

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Retaining Employees and decreasing turnover in Today’s Tight Job Market

Fabulous product or service? – check. Replicable model? – check. Intellectual property? – check. Management structure, processes and procedures in place? – check. Mindset?………errrrr, check?? If I was packing a would-be franchisor’s bags ready for them to embark on their own franchising journey, I’d be packing the right mindset as an essential item right at …

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Spending on Brand Awareness Increases Sales. Period.

“What’s the ROI of an impression?” No matter if they’re seasoned marketers or bootstrapped founders, this is a question I hear from clients all the time. It comes up a lot. Listen, I get it. I’ve asked myself the same thing. Why are we advertising, if not to drive sales? Here’s the thing. Putting money into awareness is putting …

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Proper Planning and Adaptation will be Critical for Franchisees in 2019

At the close of 2018 Bloomberg reported in the article, “American Chain Restaurants Had a Tough Year and 2019 Looks Worse,” that chain restaurants in the US could be facing a tough year ahead. This is a continuation of a weaker 2018 with franchise restaurants seeing slower customer traffic, giants like Starbucks closing down locations, …

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