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WHAT SHOULD EVERY FRANCHISEE KNOW (But Many Don’t)? How are franchise misconceptions detrimental to franchise success? SHARE A COMMENT BELOW.
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Cover image borrowed, revised and adapted from “That is Success” by Jessica Lyonford is licensed under CC BY-NC 4.0
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I have read your articles on what potential franchisees should know and do not. The responses were eye opening from the attorneys who posted their knowledge.
As a consumer and a former business owner, one of the main things that I see as a critical problem at this time is a severe labor shortage. Over the past month I have noticed how it affects all businesses (especially food service franchises). In order to grow a business, one needs a good supply of labor. Almost every franchised restaurant I have frequented in the past few weeks have the NOW HIRING sign out in full view. Service in these establishments has been slow and it is all the employees can do to keep their heads above water until the store closes. Repeat the nest day, next week, etc.
Also, if a new business needs a build out for a new unit, one should expect delays as construction companies are working full blast and they are looking for more people to satisfy their demand.
I have had 3 experiences as a business owner where any help was not available. Most days had me on pins and needles. Not only did it retard the growth of my businesses, I had to turn down good work from our best customer. It sucked.
In today's business climate, if one is starting a new business make sure you have ample labor on board to make a go of it. Good luck!