Profitability - Franchising.com

Profitability

Explore ideas, best practices, and new technology for improved profitability at your franchise locations. Find information on how some of the most successful franchisees tackle profitability, from monitoring costs to understanding their P&Ls. Find providers of products, services, and technology to help you manage your expenses and cash flow here.

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Tips (and more tips) on how to minimize the effects of rising inflation on your bottom line
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Inflation creates new problems, but also opportunities for savvy franchisees
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U.S. retailers remain optimistic for the 2021 holiday shopping season despite rising pressures of a surging labor crisis and continued global supply chain disruptions.
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Retailers: 15 ways to increase your profit margins, part 2 of 2
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Restaurant sales and traffic numbers stumbled in August as Covid fears re-emerged, says new Black Box Intelligence report.
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SMG surveys nearly 10,000 consumers to predict holiday shopping behavior and the continued growth of digital during the pandemic
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Contracts between parties have existed for centuries. Before contracts - there were agreements, or what we also call, covenants.
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Study Finds Millennials Give High Marks To Brands Like Five Guys, The Cheesecake Factory, Ben & Jerry's, and Starbucks.
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Treating people with dignity and respect produces a "dependability" attitude among employees who commit to meeting your expectations and going above and beyond to avoid disappointing you. It's is the difference between ineffective and effective leadership.
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What to look for in a business lender, and why it's important to find the best lender and not just the best rate.
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Anyone who's operated a franchise business knows it takes a lot of hard work to attain (and maintain) a high level of success and profitability.
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New research illustrates how joint-employer ruling jeopardizes franchise businesses, risking business failure and hundreds of thousands of jobs.
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Franchise agreements: can't live without 'em, can't kill 'em. However, there is a major effort under way--by franchisors and franchisees alike--to cure what ails them.
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New energy management systems can provide significant financial benefits and operational efficiencies. Here's how multi-unit franchisees can benefit.
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In earlier articles, I have discussed your two key yardsticks of financial performance: the balance sheet and the income statement. Taken together, they represent as complete a financial picture of your company as it's possible to get.
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You might assume that Jo McCabe has a background in home repairs. The co-owner of Mr. Handyman and the system's 2010 Franchisee of the Year, serves the Prince William and southern Fairfax counties in Virginia.
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Personal credibility is based upon a leader's character and integrity and the actions and behaviors that stem from them.
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Franchise business growth will slow down a bit in 2013 yet will continue to outpace growth in other business sectors, according to an IHS Global Insight report prepared for the International Franchise Association Educational Foundation.
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Franchise Update Media Group (FUMG), the leading industry resource for franchise development, announces that Sean Falk, multi-brand franchise owner and former Marine, is the chairman of the 2013 Multi-Unit Franchising Conference, which will be held March 27-29 at Caesars Palace in Las Vegas.
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It's like most relationships. Sometimes things seem stable and positive between franchisees and franchisors.
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Ray Harrigill believes in diversification. His Sunray Companies has restaurants (Bumpers Drive-In), tanning salons (Palm Beach Tan), fitness centers (Koko FitClub), and hotel properties (Hampton Inn), to name a few. That's because of lessons he's learned along the way.
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What changed last month in sales, costs, market share, and customer satisfaction? Data answers those questions for you.
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When Hollywood directors cast a superstar they count on two things, box office draw and the professional actor's ability to act
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Hot business opportunities come and go in franchising but one that's currently providing a sizzling opportunity is child services franchises, according to a new study by Franchise Business Review. The report examines a number of franchise models within the child services sector to assess the franchise investment opportunity. The businesses evaluated encompass many different offerings, including tutoring and education, sports and physical development, child care, retail/resale stores, and niche services like photography and event hosting.
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Today Franchising.com sits down with Mark Davis, a franchisee for the past 18 months with LaVida Massage in Canton, Michigan. Davis discusses his transition from the grocery and supermarket business to his present life as a successful franchisee – now looking to open a second LaVida Massage center.
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It's likely that more than a few people researching franchising are doing so for a completely different reason than those who have been downsized or simply want to own their own business. The backbone of the American economy has always been the hard-working small business men and women who produce great products and services while providing jobs and offering employees a way to support their families. But what happens when a small independent businessperson is approached by – or discovers that - a franchisor is interested in converting their mom and pop business into one of its own franchise units? Well, it's a scenario that seems to be playing out more and more in recent years. Like many other topics we have covered, there is no simple or definitive answer.
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"If there's one thing the recent economy has taught, it's that it's more important than ever to pay attention to costs during tough times," says Neal Faulkner, a Boston-area Dunkin' Donuts franchisee with 17 locations open and two more on the way. "I say if you're still operating today the same way you were three years ago, you're either out of business or on your way there."
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Multi-unit franchisee Todd Pulley knows all about measuring unit performance and profitability - even though he had no prior financial background before becoming a franchisee. Over the last 15 years though, he has developed and refined his own system for measuring his unit economics at his four PuroClean locations in New Jersey and Delaware. The effort is paying off.
  • Multi-Unit Franchisee
  • 4,775 Reads 1,021 Shares
Ben presented us with a situation common to many business owners who find out too late they are not in a position to exit on their terms. Ben had founded and built a very successful business supply business. He had customers across the country and was consistently earning solid profits under his management. He had decided he was ready to retire in the near term.
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