At FranNet DFW, we take pride in being associated with franchises that have a great brand reputation and that do a good job of supporting the marketing efforts of their franchisees. However, not all business owners are so lucky. It’s not uncommon to hear about franchisees who are really struggling with branding and marketing.
Sometimes, this is because of the marketing rules outlined in the franchise agreement. For example, the franchisee is provided with a corporate branded website and not permitted to make changes, implement a better SEO strategy, or otherwise alter it to better suit the needs of their local market. In other situations, a franchisee might be hit hard by online reviews for a nearby franchise location that’s under different ownership. People searching online see a review about poor customer service at one location and assume all the rest … Read More »
Technology is influencing the competitive landscape for businesses of all kinds—and at FranNet DFW we are definitely seeing an impact on how franchises operate. Part of the reason is a generational shift. There’s been a 93% increase in business ownership among those aged 20-39 in recent years. These Gen X and Millennial entrepreneurs weren’t raised to assume they would have a corporate job and work there until retirement. They want to take control of their future, and franchises seeking to attract these young business owners need to keep up with technology to do that.
But there are many other practical reasons that franchises are seeking technology solutions. For example, they want to:
Drive down operating costs by streamlining processes and integrating data and systems within individual franchises and across the organization
Use business intelligence (BI) dashboards to analyze the performance of franchisees and … Read More »
If you’re driven by an entrepreneurial spirit, chances are high that you like adventure. But that doesn’t mean you like all kinds of surprises when it comes to being a business owner. Situations that come out of nowhere to disrupt your plans can leave you reeling. At the same time, you may find unforeseen benefits and enjoyment in the process of running your own business. Autumn is the season of change, so it’s a great time to think about the pros and cons of a life filled with the unexpected. In the spirit of Halloween, here are some of the “tricks and treats” we’ve seen business owners experience in our years at FranNetDFW.
Beware the Zombie Attack
What many small business owners fail to grasp at first is how critical their hiring decisions will be to the success and even the survival … Read More »
It’s almost Labor Day—a time to recognize all the diligent effort your employees put in to help make your business strong. But it’s also a good time to reflect on what’s working in your business, and how to make it work better. Here are just a few questions to kick around as you prepare for the fall season.
What kind of motivation brings out your personal best at work?
The most important kind of motivation is self-motivation, but we can all use an outside boost. And it’s very true that the environment and people we surround ourselves with have a huge impact in our outlook and personal effectiveness. Reducing negativity and introducing positive influences can go a long way to keeping you revved up.
If you enjoy scrolling through the news, try visiting a “happy news” site instead of dwelling on your usual … Read More »
It’s August, and that means hot weather. But it may not be the temperature outside that brings stress into your life. Spending all day putting out fires in your business could make you feel like the summer will never end. You’re not alone. For many small business owners, vacation time is replaced with worry and stress about what’s going on at work. Revenue, personnel, facility management, marketing, regulatory compliance, customer service—there are lots of moving parts and plenty of areas where friction can occur. Here are some common issues that make business owners break a sweat, and some ideas for how to keep your cool.
After choosing the right business opportunity, choosing the right employees has the biggest impact on success or failure. How many people should you hire? What skill-sets should you require? Who will be the right fit … Read More »
With the celebration of Fourth of July this month, it’s a wonderful time to stop and reflect about how to be independent in life. What does it mean to set your own course? Determine your own destiny? Create the present and the future in a way that’s meaningful and fulfilling?
As small business owners, it’s often tempting to complain about the many responsibilities that come with running a company. But the truth is, most of us are fortunate beyond measure to have the opportunity and freedom that comes with directing our own path. At FranNet DFW, we love hearing about the ways our clients’ lives transform as they become business owners. Here are four of the ways that owning a business upholds the principles of life, liberty, and the pursuit of happiness.
Freedom from the Time Clock
Sure, being a business owner can … Read More »
School is out for the summer, and it’s time to start planning all those fun activities that the typical American family enjoys. Whether that’s taking the kids to Disneyland or enjoying a week away with your spouse on a tropical beach, you deserve to relax. But when you are a small business owner, it often feels like your business is running you and not the other way around. During the first couple of years after you launch, it’s likely that you’ll work a pretty hectic schedule and find it difficult to get away for some down time. Unfortunately, that’s not a sustainable way to operate over the long run.
If you’re like many of our FranNet DFW clients, one of the reasons you started or purchased a business in the first place is to have more control over your time. If … Read More »
May is the time of graduations. Youngsters are moving to the next grade, getting out of school, or celebrating the completion of a degree. But there are many other important graduations that might be occurring in your life right now. Getting a first job, buying a home, and becoming a parent are all important transitions for many people. Leaving the corporate world and starting a business is another kind of graduation—bringing with it a whole new level of responsibility. A more subtle milestone is the transformation from a new franchisee to an experienced business owner. Here are a few ways to distinguish a newbie from an old hand.
You Might Be a Mature Franchisee If…
You are well past the point where there is more money going out than coming in. Positive revenue is the norm, but you are also seasoned enough … Read More »
If you’ve ever worked at a corporate job you hated because of a dreadful company culture, it can be exciting to think about owning a business of your own. Finally, you have the opportunity to create a great place to work! As the person who sets the tone for the entire workplace, you have power and responsibility in equal measure. It’s up to you to be aware of the type of culture you are creating and steer it in your desired direction.
Here are some of the factors that come into play when you start crafting a workplace culture:
Your work and life philosophy, beliefs, and values
Your personality and strengths
The quality of people you choose to hire
The behaviors you deliberately or unknowingly model, permit, support, or discourage
Your degree of imagination and creativity
Your level of self-awareness as a leader
The Four Types of Workplace … Read More »
If you own a business, you are probably used to having some ups and downs. The wonderful thing about being independent is that you have more control over your future than most people will ever enjoy. But the challenge is that you can be significantly impacted by circumstances that appear to be beyond your control. The fact is that hard work is only part of the equation. There are some years when fortune will seem to smile on you and others when calamity comes from nowhere to knock you back a step or two. Here’s a look at the role “luck” can play in your business—and our favorite FranNetDFW tips for creating your own luck!
Unlucky Events That Can Hurt Your Business
To start with, we can all acknowledge that there are some things we can’t necessarily foresee or control at an … Read More »