CREATING SUCCESSFUL FRANCHISEES

CREATING SUCCESSFUL FRANCHISEES

Growing your business

How to Read a P & L Report

Way back when I started in business, I figured that if I was taking in money and only spending the money I had then I was in a profit situation, right? After all, my accountant seemed happy. Then accounting software took the world by storm and bookkeeping got easier. At about that time I started working with McDonalds franchisees. Wow, these guys were really smart! They knew how to read a Profit & Loss (P&L) report; they drilled down into […]

Increasing your average transaction value

Increase Your Average Transaction Value

Increasing your Average Transaction Value (ATV) is the quickest and easiest way for you to increase your turnover. Boost your bottom line by increasing each customer’s spend with each purchase. If upselling is done correctly, it can be seen as a way to surprise and delight your customer. It can be seen as offering excellent customer service. But are your staff capable of upselling? Are they scared to upsell? Confused on what to upsell? Or, simply not trained to upsell? […]

Married To Your Franchise

The Perfect Franchise Marriage

I meet with a lot of franchisees. Some happily married to their franchisor and some who are disgruntled divorcees. It makes me wonder… “What makes the perfect franchise marriage?”   Franchisees buy into a franchise system, a system that is proven.  A system that has support mechanisms built into it to help them along the way.  So why is it that some people earn a respectable living and some don’t? Why is it that some franchisees feel they need to […]

Franchise Roadmap

How to Create a Business Road Map

Before the global financial crisis, getting a loan was pretty easy. There was some documentation, but really all you had to do was give your accountant-prepared financials to the bank and the loan was approved. As I said, that was before the GFC. Sometime in mid-2009, I found myself requiring an overdraft, so off to the bank I went to ask for a loan. And that was when the fun started. There were all these questions to answer and profitability […]

Tags