CEO Q&A: Has the Economy Changed Your Goals for Your Company? How?
In each issue of Franchise Update magazine we profile franchise CEOs and presidents, asking each the same set of questions. Throughout the year, we'll be selecting one of those questions - and providing answers from those profiles. Want to learn more about these franchise leaders and their thoughts on other topics? Easy - click the links we've included with their responses to read their full profile.
This week's question: How has the economy changed your goals for your company?
Jon Nobis, CEO, Two Men and a Truck
It changes how we approach the goals, but not the goals. Read the full profile here.
Shannon Hudson, CEO and Co-Founder, 9Round Franchising
The economy actually has not really affected our goals. In fact, our model is so low-cost that we still flourish even when the economy is bad! Read the full profile here.
Bette Fetter, CEO and Founder, Young Rembrandts
I don't know that it has in the long term. During the recession, we didn't experience a very significant drop in sales. We saw that people were more willing to skip eating out and cut back in other areas rather than drop their kid's enrichment opportunities. And now, with a strong, healthy economy, it just means more people can sign their kids up for more enrichment activities. Read the full profile here.
Tammy Whitworth, Chair and CEO, Window World
I think we've been very fortunate. When the economy is good, people buy new houses and remodel. But when the economy is bad, they tend to keep their homes and remodel what they have. So we're very fortunate in that we get to do business in both strong and weak economies. Of course in a recession there's less money to spend, but people tend to remodel rather than buy new homes. Read the full profile here.
Brian Petranick, CEO and President, RiseMark Brands
Our business is not typically a luxury for most of our clients and families. While there are aspects of the economy that have an impact on some of our key drivers, generally we are not significantly affected by economic changes. Read the full profile here.
Nicole Ossenfort, CEO and President, Liberty Tax
No. Read the full profile here.
Larry Oberly, CEO and President, SpeedPro Imaging
I always believe in running a company with the worst headwinds ahead in mind. Don't get sloppy, don't spend needlessly, and stay focused on doing the right things at the right time. Read the full profile here.
Rob Price, CEO and President, School of Rock
With more global prosperity, our prospects internationally have grown. Already many of our most successful schools are outside the United States. Read the full profile here.
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