Sometimes people have thoughts and beliefs that are unfounded about franchise ownership. Therefore, it’s very important for anyone seeking to invest in a franchise speak with a franchise consultant first. One of the misguided beliefs is that it may take years to re-coup your investment and/or it may take months to build a client base. By Don Clayton
What do you do when it’s no longer just an irate customer? When it’s beyond angry? How do you handle the situation? What can you do to save the account? The all-important relationship? And, of course, the business? By Nancy Friedman
As the old saying goes, ‘The best time to plant a tree was 20 years ago. The second best time is now.’ Many emerging and startup franchisors hold off on collecting their brand fund fees because they don’t have a plan for the money, and they are still getting used to being franchisors. Brands that put off collecting it when they start, struggle with the implementation of the brand fund on franchisees who have been in the system for years and have grown accustomed to not paying into the fund. It can become a very difficult and politically sensitive issue to start charging after years of never charging. By Tom Spadea
The amount of business communications and messages coming at us has increased exponentially thanks to many AI tools. We are all seeing more emails, texts, DMs, meeting requests and awkward pitches than we did just a year ago. By Jack Monson