For over 30 years the key concepts of franchising have undergone evolution and transformation. Management 2000 has had the good fortune of being in the middle of those developments. This involvement has helped us understand the importance of these concepts for franchise companies.
The Management 2000℠ team hopes the following articles will help you, your colleagues and your company, achieve a greater understanding of business and franchising. If you have any questions after reading the articles or if you don’t find the specific information you’re looking for, please contact us.
You are an executive who is being displaced or who is dissatisfied with the way you are being treated by your company. Recently you have been thinking about putting your resume on the street, but more often than not you have found yourself thinking about going into business for yourself.
Whoever started talking about “selling” franchises has proven the adage that, if you say something long enough and often enough people will believe it’s true, even if it is not. This is what happened with “selling” franchises. Well intentioned, but misinformed people, who wanted to expand their systems, began to think analogously that a franchise was like a product and could be sold.
Franchising is one of three business strategies a company may use in capturing market share. Published In: Executives Guide To Franchise Opportunities
Since 1972, the number of business format Franchisors in the United States has increased to over 7,500 Brands that use franchising as a strategy to grow. This growth in Franchisors has increased the competition to find and sign qualified Franchisee candidates. As franchising continues to evolve as a significant strategy for companies of all sizes to market and distribute products and services, the demand for qualified Franchisees will increase accordingly. Management 2000 believes the ability of a franchise system to maintain a competitive edge in the 2000’s rest, to a large degree, on the success of the Franchisor’s recruitment and selection process.
The word turnaround means to produce a noticeable and durable improvement in performance, to turn around the trend of results from down to up, from not good enough to clearly better, from underachieving to acceptable, from losing to winning.
Unlike when thinking and planning about financial management, when thinking and planning strategically there are no generally accepted definitions or frameworks. There are as many definitions of strategic thinking and planning as there are gurus. This guide discusses and relates the various terms and processes and provides a suggested outline for carrying out a strategic planning process.
Successful and profitable franchise systems in the 2000’s will be those that build strong business relationships with their Franchisees and are committed to dominating their markets by providing unparalleled customer experiences. This applies to relationships with both their Franchisees and their valued customers. This focus on franchise relations and customer satisfaction guides how successful franchise companies should be organized and operated. This guide outlines systems that work together to meet such goals.
Senior managers and leaders want to think of ways to ensure their top contributors: a) are aware of how much they are appreciated, b) give their ideas, and give solutions, d) maximize opportunities, and e) participate in innovative programs. We know that it is our top performers who are most likely to be at the top of our rankings in the most important metrics of the business.
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