Growing a Franchise BusinessGrowing your franchise is important for the survival and economic well-being of your business. One way of growing a franchise is to expand your market and or get new customers. However, the customers you already have can be a better and more cost-effective option for increasing your immediate sales, as they are already buying from you. Another option is to acquire more business through business acquisition where you buy another franchise or competitor.
Even with the security of a franchise system behind you, being a successful franchisee isn’t guaranteed. It takes a lot of hard work, a fair amount of skill and a big helping of the right attitude. Ensure your franchise will be the right fit for your skills and...
Your business plan needs to be dynamic and you need to keep track your progress. The tools for this job are KPIs, or key performance indicators. Find out how they provide a way to measure the performance of your franchise...
No one sets out to fail, but the reality is a number of new franchises owners will. However, failure can be a great teacher and, if you are quick learner, you can act fast and ensure your franchise business survives and thrives. Here are five of the most common reasons...
- Be a franchisee success
- The importance of a great testimonial
- Get paid on time and cash flow positive
- Boosting post Christmas retail franchise sales
- How to make the most of business downtime
- How franchise business can learn from failure
- Improve your franchise business using KPIs
- Expansion by franchising
- Harnessing franchise brand ambassadors
- Budget tips for franchisees
- Exporting your business or franchise system
- How to avoid franchise burnout