Just to let you know where I'm coming from when I talk about the five biggest mistakes I see franchisors making in today's tough economic times, I've been plying my trade for more than 20 years now, and well over 50 percent of my clients have been among the nation's foremost franchise organizations. I've been in the trenches with them during all kinds of economic scenarios--inflation, recession, expansion, steady-as-she-goes, and a couple of booms and busts. That said, here's my take on the missteps I see in today's marketplace:
1. Thinking you can cut costs and/or services out of your model to increase or maintain profits. Yes, there probably is fat that can be trimmed and we need to look at every line item expense, but what we cannot do is compromise the customer experience...
