Home
>
Strategic Planning
>
Expanding your business in a franchise system

Expanding your business in a franchise system

If you are a successful franchise of a large franchise brand or chain, chances are you will wish to expand. The most important thing to do is make sure you are on the most positive terms with your franchisor. You should tell your franchisor at the earliest point of your plan to expand. It is important that you ask the franchisor for help when you are expanding. Growing your business is not an easy task. It requires systematic checks of your business. The kind of checks your car does electronically such as sensors telling you:

Your alternator is charging

Your battery is good

Your seat belt is on

You have gas in your tank

Oil pressure

You are not overheating

Your speed is ok

Your RPM's are appropriate for the gear you are in

As long as the little warning lights are good, everything is ok. Right. Wrong. As you know, those are important indicators. However, what about the warning buzzer that says; Your door is ajar. Your door really isn't a jar. It's a door, not a jar. This sounds funny but think about it. There are warning lights in a car but they may mean more than they say or they may be a false alarm.

For instance, when you turn on your engine all the lights are on. Most modern cars display malfunctioning lights at least once during their life. These lights are great for idiots, as a matter of fact they are often called idiot lights, but they are bad for do-it-yourself mechanics. Some cars display lights automatically at a certain number of miles. The check engine light goes on. The dealership is the only one who can reset the lights. If you are a do-it-yourselfer and have maintained the car yourself, the light still goes on and stays on. Later, when something does go wrong, the do-it-yourselfer doesn't know because the light has always been on. Whoops.

Like a car, franchisors have built safety switches into there business models. They have out all the mistakes for you before they happen. These set of idiots lights will help you, but make sure you are interpreting them correctly. An erroneous reading of a warning light will create unnecessary hardship for you as a franchisee. An example of an erroneous reading would be:

Your sales are up 50% and you just signed a huge one year contract. You should expand because you are doing 1.5 times what a normal franchise does right.

Most would say yes, business is up, new contracts coming in, you are good as gold. On the surface this may look good. But any good franchisor will tell you this is a typical sign of a cash flow issue. Sales are up, but how are receivables? One year contract is good, but are they also net 90 days? If you do not have proper cash flow funding you could wind up waiting for a check in the mail the day the bank comes in and wants to repo your entire store? This is why you need to talk with your franchisor and have a game plan, pay attention and use their expert advice? After all that is why you bought a franchise in the first place. Think about it.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.worldthinktank.net/wttbbs

house refresh service Lincolnshire ..

In The News:

DoorDash launches Zesty, an AI-powered social app that recommends restaurants through conversational search, now testing in San Francisco and New York.

Cybersecurity firm Infoblox reveals that over 90 percent of parked domains now redirect visitors to scams and malware, making simple typos extremely dangerous.

The Fox News AI Newsletter covers the latest artificial intelligence technology advancements, including the challenges and opportunities AI presents now and for the future.

GPT-5.2 is now live for all ChatGPT users with improved coding, writing and image interpretation, with Kurt Knutsson offering his review.

New iPhone replacement scam uses pressure tactics and fake carrier calls to steal devices from buyers. Criminals claim shipping errors and demand urgent returns.

Amazon Ring's new facial recognition feature sparks privacy controversy as Electronic Frontier Foundation critics argue the AI upgrade expands surveillance risks.

New Android banking trojan Sturnus steals credentials, reads encrypted messages and controls devices.

Denmark's 3D-printed student village proves automation builds 36 apartments faster than traditional methods. Skovsporet project shows housing future.

Discover Android's new Sound Notifications feature that alerts you to smoke alarms, doorbells, and baby cries even when wearing headphones.

New SantaStealer malware reportedly threatens holiday shoppers with password theft. This Christmas-themed info-stealer targets browsers and crypto wallets.

The Christmas season brings a surge in Netflix phishing scams targeting shoppers with fake emails. Stacey P received convincing scam but verified account first.

San Francisco Giants invite Jamie Grohsong to throw ceremonial first pitch at Oracle Park after he learned to play baseball with a bionic hand following an injury.

FBI warns cybercriminals are stealing family photos from social media to create fake proof of life images in virtual kidnapping scams targeting victims.

Instagram's new 'Your Algorithm' tool lets you control your Reels feed in real time. The app now gives you power to customize what videos you see.

Major Marquis fintech breach exposes 400,000-plus Americans' data through unpatched SonicWall vulnerability, with Texas hardest hit at 354,000 affected.

Free up iPhone storage fast by clearing large photos and videos from Messages app. Simple steps for iOS users to delete attachments without losing chats.

Scammers are flooding inboxes with fake tracking alerts that mimic real carriers, exploiting the holiday rush to steal logins and personal data.

The Fox News AI Newsletter brings you the latest news on AI technology advancements and the challenges and opportunities AI presents now and for the future.

Texas family reunites with missing 11-year-old cat Grayson after 103 days using Petco Love Lost's AI photo matching technology and community help.

Tired of AI customer service loops? These insider tricks help you escape "frustration AI" and get real human help when you need it most for urgent issues.

Unlock richer audio from your streaming apps with simple tweaks to volume normalization, equalizer settings, and quality preferences for cleaner sound.

Scammers are sending fake Facebook settlement payout emails that mimic legitimate notices from the privacy settlement administrator to deceive users.

Holiday shopping scams surge as fake refund emails target distracted consumers during Black Friday and holiday seasons, costing Americans billions annually.

The AI-powered IRMO M1 exoskeleton features four modes, including turbo, eco, training and rest for hiking, running, cycling and sports with eight-hour battery life.

OpenAI announced upgrades for its ChatGPT Images platform on Tuesday, saying the program can now make more precise edits and produce images more quickly.

Expanding your business in a franchise system

Strategic Planning