Expense Control

: Stephen Sheinbaum; Columns; 02 February 2017

Expense Control

Expense

Be prepared: Here are the top-five extra business expenses

you are likely to encounter after buying a restaurant franchise.

By Stephen Sheinbaum

One of the benefits of buying a restaurant franchise over starting an eatery from scratch is that many of the initial costs that you will face have already been planned out. However, once the menus are printed, the doors are open and your business begins to grow, other expenses that were not in the initial plan will begin to appear. From my experience of funding franchisees over the last decade, there are five areas where extra expenses can pop up:

Personal Branding

Personal Brand

Franchise owners who actively use personal branding strategies to become the faces of their businesses will create more avenues for success.

By Bill Corbett Jr.

We live in competitive times, and even with the latest marketing tools and support from franchisors some franchisees struggle to succeed and grow. This is particularly true for new franchisees; however, established owners face challenges as well. It is not surprising that many franchisees are challenged when it comes to marketing.

Cybersecurity

Cybersecurity 1

Under attack: How to ensure your franchise is secure from credit card fraud.

By Fred Cobb

For entrepreneurs looking for business opportunities, the franchise market continues to lead the pace for sustained growth. According to the International Franchising Association, average annual job growth in the franchise sector has been higher than all businesses economy-wide. Forecasts for 2017 anticipate that these trends in growth for franchise businesses will continue not only in the new year, but for long-range forecasts as well.

Digital Signage

Digital Signage 481055084

Designed for change: How can a franchise owner stand out

in a sea of traditional display signage?

By Sylvain Bellaïche

With the advent of affordable and reliable digital signage and easy-to-use software to run it, franchise owners are increasingly utilizing this technology as an attractive option for connecting with their clientele. Franchisees who have not yet done so might be asking themselves: What are the specific advantages that digital signage can bring?

Customer Engagement

Customer engagment

Case study: Four considerations for designing a great franchise loyalty program.

By Leslie Wilson-Lopez

Traditionally, we look at loyalty programs from our company’s perspective. By providing offers and incentives in a structured format, we hope to increase visits, spending and daily engagement among customers. We thank our biggest fans for their business, knowing that they could take their money elsewhere.

I would argue that the most successful loyalty programs start from the perspective of the customers instead.

Expense Control

Personal Branding

Cybersecurity

Digital Signage

Customer Engagement

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