5 Key Qualities of a Great District Manager

The number of multi-unit franchisees is growing across the global franchising industry. And these business owners require a great district manager as their right hand to help them be successful. 

Why is this position key? Because then franchisees can delegate operations to get the time freedom that the model promises. But beware: to truly enjoy this benefit, the district manager has to be great at their job and meet certain criteria to ensure excellence.

The American Franchise Academy has identified the five most important qualities of district managers. Take them into consideration when hiring your next district manager

A piece of advice before we start: look at candidates within your current workforce of unit managers. See who of them has or shows these qualities and use this information as a radar to detect the next leaders of your organization.

 

1. A leader that inspires 

You need to hire a leader that inspires people. The district manager's job is not...

Continue Reading...

Pros & Cons of Becoming a Multi-Unit Franchisee

There is a big hype these days about multi-unit franchising not only among investors but also brands that want to grow with this model. It has gotten so much attention that there’s even an annual event, the Multi-Unit Franchising Conference, solely focused on guiding these types of franchisees to help them grow their multi-unit operations.

Discover my learnings throughout this year’s Multi-Unit Franchising Conference in this playlist!

If so many are taking this path, how much of a good idea is it to become a multi-unit franchisee? The answer depends on what are your business goals and what you want to achieve for your life and your future. 

To help you decide whether multi-unit franchising is for you, let’s review some pros and cons of multi-unit franchising

 

CON: You’ll have more work
PRO: Your job will be more interesting work

When you become a franchisee, it is all exciting. You have a new brand and new equipment, and the franchisor and...

Continue Reading...

Do you Have the Right Franchise? 5 Clues to Find Out

numbers planning profit sales Aug 23, 2022

Choosing the right franchise is a very challenging process. Some franchisees may have already started operations and still wonder if the business concept they acquire is the ideal one or not.

How can you tell if you have the right franchise for you? What can you do if you realize that the brand you chose is not your best fit? Answering these questions as quickly as possible is very important for your success as a franchise business owner. And that’s what we’ll be exploring in this blog post.

 

5 ways to detect if your franchise is the right one

First, you have to understand that every franchise is different, especially in terms of the effort and the support needed to operate. The unit economics in the business model is also different, even within the same industry.

Once you are clear on this, there are several reasons that'll make you suspect that a franchise is not perfect for you.

 

1. You have less revenue than you calculated

In most franchises, the level of...

Continue Reading...

Are you Ready for a Recession? 4 Smart Questions and Actions to Face it

There is so much talk about recession, whether we are in it or if it’s coming shortly. But what you need to worry about as a franchisee is how to make sure you are prepared for whatever happens in the economy.

You have to be aware that there might be global, countrywide, or local events that could affect your operations. That’s why you need to think through and act to make sure that your business is as protected as possible. That’s one of your jobs as a business owner: take the time to design strategies to minimize the negative impact of outside influences.

That’s when you work on your business, not in your business. Especially if you are a growing multi-unit franchisee, dedicating time to strategic thinking is critical to protecting your business, your people, and the brand that you invested money in.

Entering into survival mode? Review these tactics to grow in 2022 and beyond

In this blog post, I want you to analyze the questions you should ask yourself....

Continue Reading...

The 3 Roles of the Franchisee

Building a profitable and proven brand is hard! But franchising allows entrepreneurs to own their business and achieve the time and financial freedom they want and deserve. Without franchises, many people wouldn't have the opportunity to make the American dream of business ownership a reality. 

But there’s a catch. Many franchisees come from a corporate background or haven't had a job for a little or a long time. And when they finally invest in a franchise, they realize how different it is to be an employee vs. owning a business.

Why is this? When you work for a company, your role within the organization dictates what you focus on day in and day out. Someone defines your goals and monitors your impact on the overall results. And, most importantly, you're clear on what your job is and the activities you must execute every day to accomplish the business objectives.

When you are an entrepreneur, especially a franchisee, that's not the case. You don’t have that...

Continue Reading...

This is the #1 Key to Franchisee Success

Throughout my +30 years involved in the franchise industry, helping franchisees around the world, I’ve come to realize what is the #1 key to success for a franchisee

Of all the things that you need to learn and do when you invest in a franchise, if you don't have this, you are going to struggle as a business owner. How can you avoid this conflict? What is the number one key?

The secret is that you care about your people and they know and feel you care for them. It might sound simple, but sadly, sometimes franchisees and business owners forget to demonstrate and communicate this. 

Communicating this is crucial because even though we may do a lot of things for them every day, unless we share it and let them know why we're doing it, they won’t really know. 

With this blog post, I’m inviting you to reflect on what caring for your people truly means and if you are indeed demonstrating it or not. And, of course, I’m giving you tips and information...

Continue Reading...

6 Decades & 6 Insights of Success from Franchise Experts

AFA 6th Anniversary Celebration

July 18 marked our sixth anniversary. Six years of great achievements not only for The American Franchise Academy (AFA) but also for the clients that have trusted us during this time to help them become successful franchise business owners. (Thank you for that!)

It's amazing how what started as a deviation from my sabbatical came to be this organization that for the last six years, has been serving franchisees and their leaders, giving them knowledge and information so that they can thrive with their businesses, reach financial and time freedom, and fulfill their dreams.

To commemorate this joyous occasion, I invited Curtis Moore, an ex-Dunkin Donuts franchisee, expert district manager, and also one of our AFA’s instructors, to a live broadcast on my YouTube Channel.

During this special session, Curtis and I shared some insights that have helped the Academy and its clients reach their goals. Here are six insights of success that we came up with...

Continue Reading...

How to Fix your Franchise in 4 Steps

Many franchisees struggle to achieve the goals they expected when they bought their franchise because success in this industry requires more than just hard work, time, dedication, and commitment. 

Sure, some investors eventually are able to grow into a successful multi-unit organization and become top-performing franchisees. Still, most franchise owners don’t achieve this level of success. They continue to struggle daily, trying to compensate for the things they don't know or don't have with more work, longer hours, and using the franchise as their job.

Why does this happen? Because even though they know something is broken, they don't know precisely what it is or how to fix it. That’s where the challenge comes with most franchisees. 

The good news is that there’s a solution. We at The American Franchise Academy came up with four steps that will help you determine what's missing within your business and what you can do to fix your franchise so you can...

Continue Reading...

5 Best Practices to Reduce Turnover

culture people planning Jul 13, 2022

Although the constant attraction of new talent helps you grow, being able to retain the people is also critical, especially with the staffing crisis our industry is facing. How can you do that? In this blog post, I’ll be sharing five strategies to reduce turnover and have a healthy organization.

People that look for a job are searching for opportunities and benefits, but in the end, they stay for the company’s culture. Taking this into consideration, these five best practices will help you transform your business culture, and therefore, have better employee retention.

 

1. Select the right people

This doesn’t only mean having the talent, the skills, and the experience to perform properly, but making a good fit with your company. Otherwise, you'll end up looking for people again in three months or so.

To help you discover those candidates, you have to define clearly who is your ideal employee and how does the right cultural fit look like. Based on that, as...

Continue Reading...

When to Give a Raise to Your Employees: 4 Scenarios to Consider

When it comes to managing people, why, when, and how to give raises to their employees is one of the biggest challenges that franchise or business owners face. Why? Because given at the right time and in the right way, raises can impact the company culture positively. On the other hand, not having them can affect the working environment negatively. 

You must remember that there are two objectives when it comes to giving people this financial benefit. First, to give recognition for performance. Second, to provide fair and competitive pay according to the market, to be able to retain those employees.

Think about it! Upgrading a person’s salary when they outperform will get them excited and motivated to be in your organization and willing to continue giving you that extra effort when they come to work. Otherwise, even if you have a great culture and you do everything right, if you don’t offer the pay that the employees deserve, then they might end up leaving you.

View...

Continue Reading...
1 2 3 4 5 6 7 8 9
Close

50% Complete

Two Step

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.