|
Author: Lance Winslow Article source: http://www.buyfranchisecenter.com/. Used with author's permission.
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
Website Basics
Discussing the various issues for new comers to the internet and webdesigning. Gain an understanding of the internet, website and other related terms.
Mens Gold Wedding Rings
Gold wedding rings are the most traditional rings available. When men's wedding rings first became popular during the Second World War, gold was the metal of ch...
How to Make Money from Your Blog Content
Four great tips on how to make money from your blog content...
Create a Traffic Stampede with More Web Content
Discover 6 great places to get more web content to increase your web traffic.
Selecting a Venture
Craft an entry strategy. What type of business could best seize the chosen opportunity?
How to Be an Entrepreneur and Keep Your Sanity
How many times have you contemplated starting your own business and then put that thought on the back burner until the urge hits you again? You're not alone. Th...
A Link From An Ugly Duckling Website With A PR=1 Could Give You 10 to 80 Times More PageRank
Use the Ugly Duckling technique to get high ranking on Google and watch your Internet sales skyrocket.
Are You Controlled by the Urge to Splurge
How do you control these urges that pull you away from your
diet plan and down the temporary joy of self-indulgence?
I researched on the topic to give you wha...
Understanding Survey Software Features
If you take a look at the features that different survey softwares offer, you will quickly realize that understanding all of them is no mean task. But it is ver...
The Dirt On House Plan Styles
Thanks to crafty designers, there are hundreds of unique and modern house plans to select from. When building your dream home, it is vital you take the time ne...
Save 10 Hours a Week by Setting Up Your Own Faux Finish Website
Have you been losing faux finishing jobs to other
contractors because you don't have a website of your sample
faux finishes yet?
From Playing Card to Business Card
Without the development of the printing press in 1445 the Renaissance may never have happened, and Johann Gutenberg the inventor certainly did not know he was s...
Seven Sure Steps In Building Your Reputation Online
If you have to part with your hard-earned money for some goods or services, who would you rather trust: a novice provider or an expert one?
Diet and Fitness – Help from Your Hobbies
Everybody battles with their weight from time to time. It's either too much junk food or not enough exercise. In many cases it is a poor diet and no exercise....
Creative Storage Solutions
When the things in your home start crowding in around you and you're short on cash, it's time to come up with some creative storage solutions. Don't be afraid ...
How to Increase Web Traffic
This tutorial will help you increase your website traffic. Today website success depends on the steady flow of the web traffic to the website. You can easily ac...
Myth Busting: What Causes Mental Breakdown?
Are you one of over 40 million people suffering a personal nightmare caused by stress, depression and anxiety? These illnesses are the modern plague and they ru...
Non-Profit Success Requires Ongoing Marketing
In a crowded marketplace of ideas, it is important for non-profit organizations to establish a well-defined niche. Developing and maintaining a visible and cred...
Thimerosal: Autism and Mercury Poisoning Side Effects?
Thimerosal is a preservative that is added to vaccines (has been since the 1930s) that is almost half (49.6% by weight) mercury. Preservatives are added to vacc...
Are You Just a Shadow of the Person That You Could Really Be?
Next time you go outside during the day I want you to look at your shadow. Let's now use this analogy to define your level of success. Is your success full-bod...
Guidelines For A New Sending Paradigm - Part 1 of 5 - Treat Email as a True Risk and Cost Center
Anybody can just push the "send" button. Getting good email delivery is a much bigger challenge. These no-nonsense articles will help permission-based email sen...
I Think Ill Just Go Fishin
I said something last week I haven't said in years. Where it came from, I really don't know. It's funny, you're tooling along minding your own business for week...
6 Key Points to Evaluate Online Lenders
The internet is teeming with lenders who are vying for your business. It seems like everyone wants to loan you money. You are truly in the driver's seat by go...
Setting Up Your Article Body - Article Submission Online (Part 3)
Within part 2 we learned... Should I Use Double Lines To Format My Article? Should I Use Paragraphs, or No Paragraphs? Should I Use Quotes For Every Paragraph, ...
|
Print this page