I’ve been asked time and again to post the following article that I’ve written about my own personal experience as a multi-unit franchisee where I succeeded at first, only to crash and burn later on. This article has been posted on several of my blogs, and picked up by numerous other blogs and online magazines. I have received numerous comments and inquiries about the article, individuals sharing their personal experiences and requests for assistance. Although I cringe at the thought of any business failing, I admire and respect the fact that franchisees and franchisors alike know when to put their pride aside and ask for assistance, and I look forward to providing my experience and expertise to help determine a practical resolve to their problems.
A couple of years ago, there was a discussion in the Franchise Executives group on LinkedIn with the posted question, “Who is using outside franchise sales groups [brokers]?” Here are some interesting responses from group members that are not franchise consultants or brokers.
A frequently-cited impediment to the franchising industry’s adoption of social media is the perceived time commitment required to achieve optimum results. There are many implementation methods and technology tools that can be utilized to execute a firm’s social media program in a way that will maximize ROI, minimize time requirements and achieve complete integration into its overall marketing strategy, all of which will serve to achieve optimum results.
The relationship between franchisors and franchisees has traditionally been a hierarchical one with franchisors firmly planted at the top. But as in life, nothing stays the same forever. Over the past few years, there has been a dramatic shift in the balance of power. In particular, the summer of 2014 saw two major judgments that underscored the changing times. While these two rulings address different parts of franchise operation, they both serve as actions seeking to level the balance of power between the franchisor and the franchisee.
Culture and franchise relationships have been hot topics in various franchise discussion groups. So, it’s fitting that I share a couple of interviews from Franchise Today that focused on these hot topics that are often synonymous with each other.