FranchisEssentials
217 FOLLOWERS
This blog shares Information, Insight and Perspective about Franchising, Small Business and Entrepreneurship.
FranchisEssentials
16h ago
When venturing into a franchise agreement, many liken the relationship to a marriage. This analogy is not without merit, as both involve significant commitments, shared goals, and the need for compatibility. Yet, there are also critical distinctions that potential franchisees must consider. Understanding these similarities and differences can help entrepreneurs evaluate their readiness and suitability ..read more
FranchisEssentials
2d ago
The restaurant industry is no stranger to change. From fluctuations in food and labor costs to the integration of cutting-edge technologies, today’s restaurateurs must navigate a complex and ever-evolving landscape. Without a historical frame of reference, these shifts might seem daunting, yet they also offer opportunities for innovation and disruption. Here’s how today’s restaurants could ..read more
FranchisEssentials
2d ago
The allure of owning a restaurant is a dream cherished by many. From the aroma of freshly prepared dishes filling the air to the buzz of satisfied customers, the idea of creating a space where people gather, celebrate, and enjoy food can be immensely appealing. However, despite its romantic appeal, starting and running a restaurant ..read more
FranchisEssentials
4d ago
Revitalizing an underperforming business demands a strategic approach coupled with innovative measures. When it comes to a restaurant with over a decade of operation, the need for adaptation and evolution becomes paramount. Despite past successes and occasional setbacks, a resilient business can always find its path to prosperity. Below are several pivotal points to consider ..read more
FranchisEssentials
5d ago
Did you know that doing nothing work-related for a day can be profoundly beneficial? In fact, disconnecting from work-related activities and responsibilities provides a much-needed mental break, allowing for cognitive rejuvenation. Constant engagement with tasks and problem-solving can lead to mental fatigue, which in turn affects decision-making and creativity. By stepping away and embracing a ..read more
FranchisEssentials
6d ago
Working with family (and close friends) in business can provide a comforting sense of familiarity and trust, yet it often introduces complexities that can challenge both personal relationships and business health. This duality makes it crucial for family members to evaluate the potential benefits and drawbacks of such collaborations and to consider strategic steps for ..read more
FranchisEssentials
1w ago
The passing of a long-time staff member in a restaurant can be devastating, especially when that individual was the heartbeat of the business. In such a close-knit environment, where colleagues often become like family, managing the grief while maintaining positivity and productivity is paramount. Here’s how restaurant owners can navigate this delicate situation while honoring ..read more
FranchisEssentials
1w ago
Unexpected events can throw a wrench into even the most meticulously planned operations. It is essential to understand the critical importance of maintaining continuity in the face of sudden staff departures, especially when it involves key personnel such as a manager or chef. Here’s what a restaurant owner should do to navigate such a challenging ..read more
FranchisEssentials
1w ago
Restaurants thrive not just on good food and service, but also on their connections within the local community. Involvement in community and local affairs can bring numerous benefits to a restaurant, enhancing its reputation, building customer loyalty, and positively impacting its bottom line. By participating in school events such as spirit nights or sponsoring academic ..read more
FranchisEssentials
1w ago
The interplay between pricing and customer satisfaction is a delicate balance. For years, restaurants have been hesitant to raise their prices for fear of alienating their clientele. However, it’s becoming increasingly apparent that a paradigm shift is necessary. It’s time for restaurants to raise their prices, but with a crucial caveat: an unwavering commitment to ..read more