Minimum wage

Minimum wage changes could have dramatic impacts

on a franchise’s profitability, ability to invest or even its viability.

By Cramer Soebbing

Minimum wage has been a hotly debated topic for franchisees over the last few years. More poignantly, the discussion concerns the effect that impending minimum wage changes will have on franchisees’ cash flow, their employees and their capital expenditures. Depending on where they are located, franchisees could be paying their employees anywhere from $7.25 to $13 an hour at the minimum wage.

 

Millennials Technology

It’s time to start thinking about technology for franchising success. Millennials already are.

By Garrick Brown

Gen X needs to look out because the younger generation is quickly outpacing them in the business ownership arena. Seventy-two percent of millennials would like to be their own bosses, with a hearty 24 percent already running or making plans to run their own businesses, according to findings by North Star Research for Small Business Majority and Young Invincibles.

These dynamics show a clear opening for a new generation of franchise owners.

Digital marketing

Beacon connector technology, in tandem with digital signage,

can provide an effective cure to make urgent care patients more comfortable.

By Sylvain Bellaïche

The urgent care business is transforming patient healthcare from a commodity into a consumer-oriented business. Its growth is being driven by the demand to cut down on the relatively long waits for appointment times that are associated with traditional healthcare providers. At the same time, owners and franchisors of urgent care chains are discovering the importance of differentiating themselves from competitors by integrating cutting-edge technology into their operations – not only in the exam room itself but also in the waiting area.

 

Franchise Crisis

Franchise owners and operators should develop crisis communications

and preparation strategies before they actually need them.

By Bill Corbett Jr.

Food poisoning, accidents, hurricanes, power outages, poor customer service, employee theft, cyber attacks or a spokesperson getting arrested – these are all crises that franchise companies and individual franchisees have faced. Recognizing this, it is critical to ask: Are owners and communications teams fully prepared?

Keys to Success

Being both an entrepreneurial business owner and interdependent with your franchisor

can lead to exceptional success for a franchisee.

By Ben Davis

When it comes to running a franchise, 95 percent of the factors of success are the same factors that any small business owner is thinking about: maintaining cash flow, finding new customers and retaining quality employees, to name a few. However, there is a small albeit paramount subset of issues unique to franchisees that revolves specifically around the franchisee/franchisor relationship and the co-marketing of a brand.

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