Franchising can be in incredible way to expand your business quickly and in a stable way. But many franchises fail at the first hurdle because they do not understand the basic principles. Franchise Success Formula helps some of the worlds most exciting new franchising concepts overcome these hurdles and turn the challenges into advantages. IF YOU WANT TO FRANCHISE YOUR BUSINESS: We can help you with consultation services on every aspect of your franchising offer. Whether you are a food concept, service concept or even an e-concept we can provide you with all the tools you need to successfully franchise your business. IF YOU ARE FRANCHISING: >> We can increase your franchise sales run rate >> We can increase your profits with intelligent systems >> We can dramatically man-hours spent on Franchise Support >> We can provide you with high impact design and content >> We can help improve franchisee/Franchisor relationships >> We can help you personally get into a success mindset HOW DO WE ACHIEVE ALL OF THIS? Well, we have a formula that we follow and it allows us to achieve remarkable things.
In my experience, if you are looking to motivate individual team members you are going to be chasing a mirage. The reason I say this is because peoples personal motivation is fickle and ever changing. The other problem is that it is so varied that it would be a nightmare to manage any inventive program or management strategy on an individual basis.
No. What you need to look at is how you can unite your team behind a common cause that transcends their individual motivation.
I have an exceptional example of how a friend of mine got a company doubling its output simply by applying the common cause psychology. It would explain this perfectly but I just don't have the time right now to type it all out.
Best of Luck!!
The best time to launch a business is now.
Unless you have serious overheads to considder, I would launch in your quiet time and give yourself the benefit of a gentle ramp.
There are two things that are great at killing a business. Growing too slowly and growing too fast.
Before you start with a business plan you need to figure out if you have a business and then if you need funding for it.
If you need funding you might need a formal business plan in order to tick a box. If this is the case I would simply make use of an app called Stratpad. It it easy to follow and will give you a pretty decent business plan at the end
If you are not looking for investors then I would simply just go through something like the Business Model Canvass to give yourself a course to follow.
Not sure what business you are in but regardless this might be an appropriate quote. "A good plan executed now is better than a perfect plan executed next week." General Paton
Well, I don't think I have ever not made money in the first year. In fact, I generally make money in the first one to two weeks.
But, I guess what they mean is that entrepreneurs generally reinvest as much money as possible into expanding their businesses in the first year. To be honest, I think this continues well into the 3rd or 4th year.
The speed of profitability is really going to be dependant on the industry and competitive environment you find yourself in.
One that my wife likes taking advantage of... and which makes the photographers a huge load of money is the following.
Groupon/Living social £20 deals for a photo shoot and a single photo. When you get there you are shown some "upgraded options" you can choose from.
Once the shoot is done you have to book an appointment to come back to choose your free photo (this has to be in person and cannot be online). When you are there they put you in a theatre of sorts, dim the lights and put on some emotional "city of angels" type music, show you a slideshow of photos and then say "which one of these beautiful photos would you like".
Let me tell you. This is a powerful business model that can make a ton of cash if done right.