Alesia

In some businesses, timing is everything. This is often true when it comes to franchising. You need to pick a franchise that’s not only hot now, but will continue to be so in the coming years. If you don’t, all your hard work could be for nothing.

The right industry

You may love vinyl records, but the franchise market for them isn’t huge, to say the least. You need to select an industry that’s either growing in terms of technology, or has the ability to do so. Remember: you’re likely to be signing a franchise agreement for five to 20 years or more, so let “growth potential” be your watchwords!

The right market

Timeliness in a franchise also depends on how well you know your market. Who is your ideal customer? What do they need right now … and what are they likely to need in the future? Research data and speak to people in your community. Then, you’ll have a pretty good idea about whether the day care center you want to open in a retirement community is a timely idea … or not.

Not sure if the franchise you have in mind is timely enough? Talk with a franchisor today to find out!

When you’re running the show, things can get pretty hectic. It’s easy for important documents to get lost, emails and online files to disappear and all those little Post-it notes lying around to end up in the trash.

As your own boss and maker of your own destiny, staying organized is key. If you start losing things, you’ll end up being less productive and frustrated, making mistakes that you wouldn’t usually make.

With that in mind, here are a few suggestions to help you stay more organized.

1. Make a back-up of everything. Every important document that passes through your hands or gets printed out of your computer should be copied and put into a filing system. All important emails, word documents, presentation decks and other items on your computer should be copied and saved in multiple locations. Save your documents on your desktop and a flash drive, send them to your email so you can access them from any computer and consider using cloud storage such as Google Drive, which is quickly becoming the most efficient way to store work-related items.

2. Buy a filing cabinet. Filing cabinets aren’t pretty and can sometimes take up a lot of room, but the order and organization one can add might save you hours of precious time. Make file folders and take the extra few seconds to put things in their place.

3. Make your workspace off-limits. The quickest way to lose something is to let your kids, or somebody else who doesn’t know their way around your office, touch things on your desk. Whether you have to lock your door or make a “Do Not Enter” sign, do what you can to make sure your work space is never tampered with.

Organization is one of the keys to success. Do everything you can to become successful!

If you’re thinking of opening a franchise, it’s important to know what skills you have that will help the franchise be successful. But how do you narrow down that list of skills? Read below to find out.

Choose a franchising category

The franchising category you choose will tell you a great deal about the skills you have. Consider the industry you have chosen and what you already know about it. Is this an area you feel immediately prepared to contribute to, or would you still have to collect data and knowledge in order to begin to contribute?

Choose your business model

After you’ve chosen a franchising category, what business models appeal to you? Does the setup makes sense, or do you feel it will make completing everyday tasks difficult? You don’t want to waste time on a business model that matches your skills so poorly that basic operations are problematic.

Consider your past experience

Finally, consider what skills have benefited you in past jobs and which you enjoyed using. Does the franchise you’ve chosen call for the same skill set, or is an entirely new set required?

Still unsure of which franchising skills you have? Contact a franchise consultant today!

Today’s post might not be long, and the concept is simple. But don’t get us wrong; today’s post is important. It’s one you don’t want to pass up if you’ve ever feared anything in your life.

Got your attention yet?

Fear. Fear of failure, fear of rejection, fear of losing, fear of anything.

Fear is the number one thing holding us back and stopping us from being successful. The definition of fear is an unpleasant emotion caused by the belief that someone or something is dangerous, likely to cause pain or a threat. Fear, oftentimes, is the one thing that stops us from trying new things, keeps us from moving forward and makes us think so negatively that sometimes we become paralyzed.

We could give you a list of a million quotes and self-help tips that have to do with fear and how to overcome it. We could tell you that it’s not a big deal and that you are worrying too much. There is one quote that may inspire you, however. The great mythologist and author Joseph Campbell once said, “The cave you fear to enter holds the treasure you seek.” It’s a powerful statement that essentially says, the only way for you to overcome your fears is to face them head on. If you fear flying, get on a plane (maybe a short flight for starters). If you fear public speaking, enroll in Toastmasters and learn how to speak eloquently in any situation.

In the end, here’s the best advice: just do it. Look your fears in the face and just stomp right-on over them. Conquer your fears, overcome your fears or just don’t have any fears. Whatever works for you; just do it. Don’t let fear hold you back from living the life you’ve always dreamed of living.

Running a business is no small feat. If you are starting a business from scratch, the U.S. Small Business Administration gives you a 50% chance of making it four years. That’s a statistic that would make shivers run up any entrepreneur’s spine. It’s also what makes franchising so much more appealing. Proven concepts. Proven markets. Proven opportunities for success.

So how do small businesses survive? And more importantly, how do they thrive? We thought we’d take a break from franchising topics today and touch on some of the leadership characteristics that entrepreneurs need, whether they are starting from scratch or pursuing an established franchise, to be successful.

A recent study by Gallup found that a business’s ability to make it over the hump has everything to do with leadership. That’s right, it has to do with you. Although there are numerous factors that influence success, Gallup found that the quality of the company’s founder and management team has more to do with company longevity than any other factor.

In its research over time, Gallup has found that companies that survive over the long term have executives that share the following key characteristics:

A clear vision: The leaders of successful companies are more likely to clearly articulate the corporate goals and competitive advantage(s) of their companies to their clients and employees. They create an inspiring narrative that unifies internal teams and clearly directs external growth efforts.

A close relationship with customers: They are more likely to make decisions about pricing, products and services with their customers’ needs in mind. They don’t neglect important matters such as profit margins, but they maintain a close relationships with customers and work toward improvements that will benefit those businesses long-term.

A plan for growth: They spend time planning for growth and aligning employee responsibilities with company goals. This requires an ability to step back from the day-to-day battles of business and articulate a plan for moving forward. This practice aligns employee efforts with a common goal and increases individual performance.

Gallup also found that business people who share these characteristics are three times more likely to build large businesses and to grow them significantly. They are four times more likely to create jobs, four times more likely to exceed profit goals and five times more likely to exceed sales goals.

What leaders have inspired you over the years? What traits can you emulate to make your business more successful?

We’re grateful to be part of your professional life. If there is anything we can do to help your franchise be more successful, please don’t hesitate to give us call: (888) 315-9549. We want to do whatever we can to help you get over the hump.

Are you ready to make 2019 the best year your franchise has ever seen? Of course you are! Take a look below on how to make it happen:

Be visible online

Online orders, interactive check-ins and other device-related trends will dominate 2019. If your franchisor doesn’t already offer web-related perks, talk to them about how you work towards making them available to the public. In addition, put more effort into social media and advertising, Know where your customers hang out online, and meet and greet them there.

Customize

Customers don’t just purchase items; they curate them for the lifestyle they want. As such, your franchise needs to offer customization of its products or services. From meal service to pet-sitting, daycare to auto care, a one-size-fits-all approach will NOT work in 2019. But you don’t need to worry that customization will eat up your time and budget. It could be as simple as putting the customer’s name on an item, or altering a package deal to better suit them.

Accommodate customer needs

More than ever, there are customers who don’t just WANT customization; they NEED it because of health issues they’re dealing with. Make sure your franchise has a plan to accommodate those who are allergic or sensitive to gluten, dairy, or otherwise require something other than your standard menu of services.

Why be good when you can be truly great?

One of the biggest concerns for new franchise owners is, “Will I have enough money to open the business and run it successfully?” The answer is definitely YES. Take a look below to see why.

Squirrel money away

One way to be at your most financially comfortable during your franchise start up is to use saved money. Ideally, you’d have been saving for months or even years before the opening. But if your franchise nest egg looks a little fragile, see where you can cut items from your personal life to fund your dream.

Be a borrower

There’s no shame in borrowing money to open your franchise. People do it all the time. Borrowed money can come from a loan, investor, or even an online campaign to raise cash and awareness for your franchise.

Bargain hunt

There are budget-friendly options for every franchise. You just need to know where to look for them. Things like décor and stock items exist in every price range, and you don’t necessarily need to have the very best when you’re just starting out.

If you’re still worried about money when opening your franchise, talk to your franchisor. They may have even more ideas on how to save, so you can start up and breathe a sigh of relief!