REMOTE MONITORING 01

Minding the store: How remote monitoring powers franchise growth

by allowing the owner to be in many places at once.

By Andrés de Armas

For growing franchises, the ability to successfully expand operations – from one location to two to many – drives the bottom line for operators. However, there are key areas of a business operation that must be optimized to drive strategic growth while maintaining operational control. In tight-margin operations, where the smallest of losses can ultimately make the difference between a profitable and unprofitable establishment, the need to scale monitoring operations is especially critical. 

Franchise conventions

A stellar conference leaves franchisees excited, encouraged

and full of fresh zeal for the business.

By Kyle Zagrodzky

Too many companies have decided to stop having conventions, and though the choice may save a few dollars, it can end up costing in the long run. Conventions get people excited, boost morale and team spirit, help people create better connections, and open new pathways to learning and professional development that ultimately have a dramatic impact on the business.

 CHIP CARDS 01

The adoption of chip cards at franchises instead of having customers swipe credit cards

can reduce fraud, but it may result in more chargebacks and many more disputes.

By John Gotaskie Jr.

The credit card industry in the United States haltingly moved toward greater issuance and acceptance of chip-enabled credit cards – sometimes called EMV (for Europay, MasterCard and Visa) cards – last year. A chip-enabled card – or simply, just a chip card – works differently from a card with a magnetic strip.

 FUNDING 01

The first thing to do when funding a franchise is to get a clear view

of your personal financial situation and draft a strategic business plan.

By Stephen Sheinbaum

It’s not hard to see why more and more people are finding the path to entrepreneurship through franchising: They can get an instantly recognizable brand, proven products and support with everything from build-out to marketing. But whether you are setting up your first franchise or using your success to add another location, you are going to be spending a lot of time on funding decisions. There are right ways to make those decisions and wrong ways to avoid.

Valuation indie stock

Many franchise agreements are drafted to provide the franchisor a unilateral right to purchase a franchise.

By Scott Ratchick, Scott Augustine and Jill Johnson

How much is my franchise business worth? How much will it be worth in a few years? How much will it cost me to build that value? Will I be able to get that value out of the business? Be sure to maximize the value of your franchise when negotiating agreements.

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