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

home cleaning services Deerfield ..
In The News:

DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.
Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.
Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.
Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.
A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.
South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.
Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
Fake AI apps disguised as "ChatGPT" and "DALLĀ·E" are flooding app stores with dangerous malware that steals data and monitors users without detection.
Fake buyers demand specific vehicle reports from unknown sites to steal credit card information from car sellers, but warning signs can help identify these scams before paying.
Android users can now manage apps across multiple devices more easily with Google Play Store's updated remote uninstall button in the latest update.
NASA's Perseverance rover discovers shiny metallic rock on Mars that could be a meteorite from an ancient asteroid, containing high levels of iron and nickel.
Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.
Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.
Hyundai AutoEver America suffered a data breach affecting 2,000 current and former employees, exposing names, Social Security numbers and driver's license information.
Washington court rules automated license plate reader images are public records, even when stored by vendors like Flock Safety, setting precedent for transparency.
Fake airline texts claiming flight cancellations are targeting travelers with convincing scams. Learn how cybercriminals steal personal data and credit card info.
Discover how iOS 26's new Adaptive Power feature automatically extends iPhone battery life by learning your usage patterns and adjusting performance intelligently.
New TikTok malware campaign tricks users into running PowerShell commands that download Aura Stealer, which steals credentials and authentication tokens.
Gaia Family offers fixed upfront pricing for IVF cycles with unlimited embryo transfers and financial protection, partnering with over 100 U.S. fertility clinics.
The Jetsons Act aims to position Pennsylvania as a leader in advanced air mobility by establishing regulations for hybrid ground-air vehicles.
Fake Geek Squad invoice emails are targeting users with convincing charges and urgent phone numbers to steal personal information and money.
Fox News Digital's artificial intelligence newsletter digs into a robot in Russia that faceplanted, George Clooney's alarm and OpenAI's rivalry with the New York Times.
Major data breach at Conduent exposes personal information of 10+ million people. Government contractor hit by cyberattack affecting Medicaid, child support systems.
Texas startup Janta Power raises $5.5M for innovative vertical solar towers that generate 50% more energy than traditional panels while using just one-third the land.

Akron OH; A great place to do business

When looking at Akron carefully one cannot help but notice... Read More

The Best Entity to Hold Real Estate

Possibly THE most frequently asked question of me is "What... Read More

Hunters and Gatherers - Are You Serving Both Their Needs?

The University of Exeter in the United Kingdom recently published... Read More

Shortening Product Life Cycle!

The current state of the available technology at the disposal... Read More

Urban Flight in Ohio

Many of Ohio's downtown areas are in need of upgrading... Read More

How Copying the HBO Schedule Can Boost Your Business

I'm not talking about posting the HBO schedule on your... Read More

Succession Planning: Problems Getting Started

A survey released by the American Institute of Certified Public... Read More

Corporate Contingency Planning

Part 1A few weeks ago I attended a seminar sponsored... Read More

Don?t Just Talk About the Weather, Use It to Advantage

A well known, national chain of restaurants discovered that certain... Read More

Ten Steps To A Great Strategic Plan

Ask a small business owner about their strategic plan and... Read More

How To Leverage Your Current Ideas And Products Into Multiple Revenue Streams

Diversify - to make diverse, give variety, to balance, to... Read More

A Rough Cut on Feasibility

A piano tuner recently moved to Buffalo, NY, and would... Read More

8 Ways to Earn More Without Working Harder

Conventional wisdom has it that there are only three ways... Read More

Business Results - Four Critical Success Factors

Scenario OneDuring a recent presentation, a business owner was given... Read More

19 Questions to Supercharge Your Business Plan

Whether you are seeking capital for your company or are... Read More

A Backup To The Internet Is Vital & Now Cost Effective

It doesn't take a Terrorist Act, Tsunami or Earthquake to... Read More

Content Management: Wise Investment for Business Prosperity

The time when a website was just a simple set... Read More

Are You Ready To Go International?

Although North Americans were the dominant population on the Internet,... Read More

Expanding your business in a franchise system

If you are a successful franchise of a large franchise... Read More

SWOT Analysis Is No Magic 8 Ball

Q: A key investor in my business has suggested that... Read More

Family and Friends Referrals Make the Best Franchisees

As a franchisor it is imperative that you seek, find... Read More

City of Cortez and South Western Colorado Market Survey

We have been spending many hours surveying the market for... Read More

How To Kick Start Your Business And Double Your Profits

This will make some people angry as hell, but it's... Read More

Memo: Sustaining Growth in Your Business

What gets measured gets done.How do you keep your business... Read More

I Always Play by the Rules and It Stinks!

This week I coached a wonderfully lovely woman I'll call... Read More

recurring housekeeping Highland Park ..