Note: The following article has previously been shared at Acceler8Succes Cafe.

Is Franchising the Right Way to Grow Your Restaurant Business?

Another question I am being asked quite a bit of late is about whether franchising is the right way to grow a restaurant business. It’s certainly good to see restaurant operators and other business owners proactively planning for the long-term. Preparing to franchise a restaurant or any business for that matter, is a good project to undertake even if franchising turns out not to be in the cards, for whatever reason. A lot can be learned from the process itself.

It was this objective of being well informed regardless of whether franchising was the right strategy or not that I had on my mind when I was asked to conduct a seminar for RestaurantOwner.com five years ago. It’s no secret that many restaurant operators have aspirations of seeing their concept grow across a state or even across the country. Most think about franchising as the vehicle to accomplish their goals for all the obvious reasons. But is franchising right for them personally? Is their business positioned correctly for franchising? And is franchising the right or only path for growth?

After I presented my webinar, I was interviewed by RestaurantOwner.com staff for an article in their print publication. Over the next few days, I will share the article here at Acceler8Success Cafe. As it has helped a number of restaurateurs make what they’ve told me was truly the right decisions for them, two just in the past week, I feel compelled to start the conversation again in order that today’s restaurant operators that may be planning a pivot will have opportunity to explore and consider all options.

Note: At the time of the webinar and article I was CEO of Franchise Foundry. Today, with 40+ years under my belt, I am the CEO & Founder of Acceler8Success Group. Franchise Management & Development is a cornerstone of Acceler8Success Group along with other disciplines including business incubation & acceleration, business brokerage and entrepreneurship coaching.

Is Franchising the Right Way to Grow Your Restaurant Business? (An Interview with Paul Segreto, CEO of Franchise Foundry based on a RestaurantOwner.com webinar by the same name.)

The restaurant industry represents the largest number of franchised locations, thanks not only to established chains like McDonald’s Corp.; but also, smaller operators who use franchising to grow quickly. The IFA predicts the so-called full-service restaurant sector will account for the greatest growth, followed closely by quick-service units.

The risks are proportionate to the rewards. As with any complex business strategy, there are right ways and wrong ways to launch and maintain a franchise system. Franchising the right way is when the corporate unit from which the franchise model is being developed is already highly profitable,” says Paul Segreto, CEO of Franchise Foundry. From there it’s about having proven processes and systems that have been documented and will be easily replicable at franchise locations.”

Franchisors must understand franchisees have also made a significant investment in the business, and in the founder’s vision. We hear so much about positively memorable experiences for customers, but that should be the case for franchisees in their relationship with the franchisor. – Paul Segreto

Segreto’s company is a business accelerator focused on emerging franchise brands. Utilizing a hybrid coaching/consulting approach, he and his team develop and deploy effective short-and long-term solutions in franchise management and operations, change management, traditional and digital marketing, relationship and business management technology, and domestic and international franchise development. The company also assists franchise brands in raising capital and exploring merger and acquisition opportunities.

Segreto also stresses the importance of exemplary customer satisfaction levels” at the corporate unit prior to attempting to replicate the concept. Profitability can be a function of strong management at the corporate level. Exemplary customer satisfaction, proves not only those systems and processes are working, but are working to the finest of details.” Among the clearest evidence that a restaurant concept is delivering this level of service is a “stellar position on review sites,” says Segreto.

Successful franchisors have selected technology that support their systems across the franchise – including POS system, loyalty programs, and more. Before launching a franchise, the technology needs to be tested from all angles in the corporate stores.

Systems also require standardization of equipment and process flow. Franchising is where the restaurant business becomes as much science as art.

Last but most certainly not least, any company wishing to franchise must have solid ownership of trademarks and trade dress. In fact, securing this intellectual property is probably the prospective franchisor’s first step.

Of course, each of these aspects of creating a foundation for a successful franchise is a webinar – if not a book – in itself. The wrong way to franchise is simpler, says Segreto: ‘We’re making money, let’s franchise. We’ll make improvements and perfect things after we sell a few franchises…’

Misunderstanding Franchising

Segreto believes there is a lot of misunderstanding among restaurant operators when it comes to franchising. Franchising is regulated under federal, and in some cases state, disclosure laws, and ignorance [or these laws and regulations] is not a defense, – he warns. Franchisees are not employees and shouldn’t be treated as such. Franchisees are every bit the mom-and-pop operator with life savings invested in many cases. Consumers have confidence in a franchise brand, feeling a larger entity behind the local franchise unit. Expectations are higher than with independent operations. Conversely, consumers lose sight of it being locally owned and operated.

Prospective franchisors also need to identify the segment in which they will be competing. Franchised restaurants are currently divided into common segment categories, such as quick-service, full-service, family dining, etc. It doesn’t end there, says Segreto. Then there’s ethnicity: American, Korean, Mexican, Latin American, Asian, and many more – and top those off with fusion.

Your mission, as an operator who dreams of franchising your concept, is simpler, says Segreto. Do what you do best and focus on that. Don’t try to be everything to everyone. A ‘proven’ system is when the efficiencies can offset the royalty percentage and still churn out acceptable profit margins.”

Restaurateurs must also realize that franchise success is dependent on both franchisor and franchisee. Think marriage, Segreto says, because it is a marriage of sorts. It requires open, honest, transparent communications in both directions.

Don’t forget that you, as franchisor, are not the only party that wants to make money. Many times, an operator decides to franchise because he is pumping away at 15% to 20% profit, and with them at the restaurant 60 hours a week. For a franchisee, you must add back royalty percentage – let’s say 6% – and 2% to 3% for required brand funds. (Brand funds are payments required by the franchisor to be used in promoting the brand). So right away, if nothing changed to make operations highly efficient, the franchisee process fit is down to 8% to 12%.

The franchisor must resist the temptation to treat franchisees like employees. Franchisors must understand franchisees have also made a significant investment in the business, and in the founder’s vision. We hear so much about positively memorable experiences for customers, but that should be the case for franchisees in their relationship with the franchisor.

One of the keys to a strong interdependent relationship is for both parties to fully understand each other’s responsibilities, as well as their own. It’s all lined out in the franchise disclosure document, says Segreto. Unfortunately, it’s often overlooked, cast off as boilerplate.

Please check back tomorrow as the article continues with timing, initial steps, and myths.

Make it a great day. Make it happen. Make it count! 

I was recently reading an article about “Change” and the following statement has since remained with me, front and center…

For change to succeed, you need to step back from doing and engage people in thinking, exploring and creating change together. You may encounter friction. Resistance can stem from comfort with the status quo, lack of perceived value of the change, lack of information about the effort, tradition…there are a number of reasons to resist change.

It really got me thinking about change – and acceptance, resistance, reluctance… It prompted me to recall two articles I had written last year that had generated a number of comments, interaction, as well as questions – all about change. Is it safe to say, there’s an obsession with change or is it a fear of change?

Today, I’m sharing those two articles: Change is Inevitable. Change is Constant. and Change is Necessary!

Change is Inevitable. Change is Constant.

“This is a formative time for you in which you realize that the conventional ways of doing things aren’t working anymore. Spread the word.” This statement was part of my horoscope this morning. Yes, I do read my horoscope daily albeit I do so only because it makes me think. I find it enjoyable, unlike the news of the day. And sometimes it has me asking myself ‘what if’ questions, especially if today’s horoscope would be something I wish would be true.

Possibly you may not be superstitious. Yet, you think twice about a black cat crossing your path. Or you may cringe if you break a mirror. And certainly, you’ll walk around a ladder instead of walking under it. You may not be superstitious but you may think, why take a chance in creating bad luck for myself when I can easily avoid a situation?

I have similar thoughts when reading my horoscope. If it states that something great will happen if I close a deal today, sure I’ll see if I can make that come true. As well, if the message is to avoid something that day, I’ll most likely heed that advice. More so, I do love things that get me thinking as thought spur creativity and innovation. At times it enables me to see things in a different light, outside the box, if you will.

Today my horoscope has reinforced my thoughts about the strategy and action plans necessary from which to move from pandemic-related challenges as well as from shifts in the way business had been conducted before the pandemic. Essentially, many of the conventional ways of doing things aren’t working anymore. Yes, changes are necessary not only to survive, but also to thrive.

“Change is inevitable. Change is constant.” Benjamin Disraeli

Through the pandemic, change had been looked at as the New Normal. Before we dive into how the New Normal had quickly become the norm, I’d like to spur some thought regarding change with two questions:

How are you currently handling change? How will you handle change moving forward?

Maybe if we take look at the definition of change, it may help better understand change:

change (verb) – 1. make (someone or something) different; alter or modify. 2. replace (something) with something else, especially something of the same kind that is newer or better; substitute one thing for (another).

Change, has changed!

In the past, business leaders predicted threats and planned responses with a risk-management strategy. Today, however, the nature of risk itself is different… It’s right upon us, and repeatedly at that! Change, in and of itself has changed. Instead of a single occurrence, change has become a fluid, recurring event. As such, change has become constant.

Changes being implemented today to survive will continue to be necessary through recovery and beyond. Most likely, repeated change will be key to future success as customers and clients will become accustomed to changes and look for them to continue. This will be the case even if it means changes are to run alongside what was once viewed as standard operations.

For example, think about the focus over the past two years on take-out & delivery in the restaurant industry. Customers are now expecting these welcomed additions to continue long after standard operations have resumed. So, what was described as the New Normal is now normal.

Actually, these additions to the business model have helped many businesses to recover faster, going from surviving to thriving as processes have been perfected and improvements have been made along the way. On the flip side, businesses that had considered the shift as a temporary solution for the times, have either continued to struggle, or have already closed their doors.

A proactive approach to change is key.

As businesses continue to face, seemingly one challenge after another, many have settled into a perpetual survival mode. Unfortunately, that will hurt more in the long run than the very challenges believed to be the sole reason for diminishing sales & profits.

Are these businesses just putting off the inevitable by essentially having become complacent and numb to recurring challenges? Most likely, yes. But it’s not too late to act in a proactive manner. Adjusting to challenges, offsetting or making drastic changes is the right strategy – one that is more inclined to work than just reacting. Often, just reacting is often too late.

Business owners must [always] be thinking about the next steps in addressing challenges, lest they fall short and lose the war (long-term survival) despite winning battles (short-term survival) along the way. In a world of constant change, non-adaptive behavior is inevitably a kiss of death for many businesses. Quite frankly, I’m very tired of the funerals!

Change is Necessary!

Of course, if you win the $1,000,000,000 Mega Millions drawing tonight, you’ll be quick to map out significant changes for your new life. 

But what about necessary changes for your life without luck and fortune? I believe we refer to that as everyday life. The norm, if you will.

It’s interesting that most people plan more for a vacation than for their future. Yet, proper planning for the future could enable you to have multiple vacations each year. 

But something has to change from the normal course of business, career, life. You can’t just keep doing the same things over and over again and expect different results. That’s referred to as insanity. 

Change allows us to move forward in life and experience new and exciting things. When you don’t actively work on evolving yourself, life can become stagnant. For instance, learning new skills or working on your inner self can bring about changes you never knew were possible.

Why is change necessary in life?

Change ensures that bad situations end. So long as you embrace change, you will find that your situation does not have to last forever and you will progress on to something bigger and better. If you reject change, experiences and opportunities in your career are likely to pass you by.

Is change necessary for growth?

Change is inevitable. There is comfort in predictability, but the truth is, without change, there is no growth. Without change you will keep making the same mistakes.

What is the purpose of change?

To evolve is to change. You may believe that you are subject to change; that things are outside of your control (determinism). Alternatively, you may believe that you create change; that you are the master of your actions (free will).

Why must we embrace change?

Change pushes you to become a more evolved person. You learn how to adapt to new circumstances, think of unique approaches and work to accept yourself. These adventures come together to promote personal growth.

Why is change hard, but necessary?

Evolving takes courage. And we must use this courage to keep surviving and feeling good about our choices in life. We are adaptable creatures.

What stops us from changing?

Fear of discomfort, pain or effort all stop us from changing. These fears prevent us from exercising, as it may hurt, from eating healthy, from changing career or starting our own business, from embarking on a new relationship, or leaving behind an old or negative one.

What are the 3 elements of change?

Author Dallas Willard tells us that successful change takes three elements: vision, method, and will.

• Vision. Successful change hinges on a picture of a desirable future.
• Method. Once you have a vision, the next thing you need is a method.
• Will. The last item is intention or will.

Why is everyone afraid of change?

Confusion. People fear change if they don’t understand the reason for it – and then they resist it. Change causes uncertainty and means pushing people out of their comfort zones. However much we might complain about them, it’s our ‘routines’ that make us feel secure.

Let’s recap…

Change is necessary.

Change must be planned. 

Change must be ignited.

Change must be faced. 

Change must be embraced. 

Change must not be feared.

Change must not be ignored.

Change is an investment.

Change is inevitable. 

Change is constant. 

Change is good. 

Change is necessary. 

Resources & Support

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when is important. Having resources at your disposal is also important. So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate.

You can reach me on LinkedIn, by email at Paul@Acceler8Success.com, and by phone or text at (832) 797–9851. Learn more about Acceler8Success Group at Acceler8Success.com and at Entrepreneurship411.com.

Make it a great day. Make it happen. Make it count!

Digital marketing has become an integral part of the entrepreneurial landscape, offering significant advantages and opportunities for businesses of all sizes. This report explores the importance and benefits of digital marketing for entrepreneurs, highlighting how it enables cost-effective outreach, enhances brand visibility, facilitates targeted audience engagement, provides measurable results, and fosters business growth. By leveraging the power of digital marketing strategies, entrepreneurs can effectively compete in the digital age and maximize their chances of success.

Introduction. In today’s digital era, consumers increasingly rely on the internet and online platforms for information, entertainment, and purchasing decisions. As a result, digital marketing has emerged as a critical tool for entrepreneurs to connect with their target audience and drive business growth. This section provides an overview of the report’s scope and outlines the key objectives.

Cost-Effective Outreach. Digital marketing offers entrepreneurs the opportunity to reach a wide audience at a fraction of the cost compared to traditional marketing methods. Through various digital channels such as social media, search engine optimization (SEO), email marketing, and content marketing, entrepreneurs can target their marketing efforts more precisely, reducing wasteful spending and maximizing return on investment (ROI).

Enhanced Brand Visibility. Establishing a strong online presence is crucial for entrepreneurs to build brand visibility and recognition. Digital marketing techniques like search engine marketing (SEM) and social media advertising allow entrepreneurs to increase their brand’s exposure to relevant audiences. Consistent branding across various digital platforms helps create brand awareness, loyalty, and credibility, ultimately leading to increased customer trust and engagement.

Targeted Audience Engagement. Digital marketing enables entrepreneurs to reach and engage with their target audience on a deeper level. By leveraging customer data and analytics, entrepreneurs can create personalized marketing campaigns, deliver relevant content, and tailor messaging to specific customer segments. Engaging with customers through social media, blogs, and online communities helps foster meaningful relationships, encourages customer feedback, and enhances customer satisfaction.

Measurable Results. One of the significant advantages of digital marketing is the ability to track and measure campaign performance accurately. Through web analytics tools, entrepreneurs can analyze user behavior, track conversion rates, and gain valuable insights into customer preferences and engagement. This data-driven approach empowers entrepreneurs to make informed decisions, optimize marketing strategies, and continually improve campaign effectiveness.

Business Growth. Digital marketing plays a pivotal role in driving business growth for entrepreneurs. By utilizing strategies such as search engine optimization (SEO), content marketing, and email campaigns, entrepreneurs can attract qualified leads, convert them into customers, and nurture long-term relationships. Digital marketing also opens up opportunities for scaling business operations, expanding into new markets, and driving revenue growth.

Challenges and Considerations. While digital marketing offers significant benefits, entrepreneurs must also navigate certain challenges. These include keeping up with evolving technologies and trends, managing online reputation, maintaining data privacy and security, and effectively allocating resources for digital marketing initiatives. Entrepreneurs should be aware of these challenges and develop appropriate strategies to overcome them.

Recommendations. To leverage the benefits of digital marketing, entrepreneurs are recommended to:

• Develop a comprehensive digital marketing strategy aligned with business objectives.
• Regularly update and optimize their online presence to ensure brand visibility and relevance.
• Utilize data analytics tools to measure campaign performance and gain insights for strategic decision-making.
• Stay updated with the latest digital marketing trends, technologies, and platforms to stay ahead of the competition.
• Invest in building a strong online community and engaging with customers through social media, blogs, and other interactive platforms.
• Prioritize customer experience by delivering personalized and relevant content, addressing customer feedback promptly, and providing exceptional service.
• Regularly monitor and manage online reputation by promptly addressing customer reviews and feedback, and actively participating in online conversations.
• Consider collaborating with influencers or industry experts to expand brand reach and credibility.
• Continuously test and optimize marketing campaigns to improve performance and maximize ROI.
• Ensure compliance with data protection regulations and maintain customer data privacy and security.

By implementing these recommendations, entrepreneurs can effectively harness the power of digital marketing to drive business growth, enhance brand visibility, and establish a competitive edge in the digital landscape.

Resources & Support

Effective Personal Branding: Finding the Sweet Spot Between Personal and Professional

The Impact of Emerging Technologies on Small Business

The Branding Trifecta: Personal Branding, Social Media & Public Relations

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when for guidance and help is important. Having resources at your disposal is also important. So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate.

You can reach me on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797–9851. Learn more about Acceler8Success Group at Acceler8Success.com and also at Entrepreneurship411.com.

Make it a great day. Make it happen. Make it count!

Happy Mother’s Day to all the incredible Mompreneurs who have taken the leap and started their own businesses! Your determination, passion, and dedication are truly inspiring. Whether you’re in the world of franchising or running a small business, you have proven that being a mother doesn’t limit your entrepreneurial spirit.

“Protect your dreams, ideas, and goals.” – Sara Blakely, founder of Spanx

Your ability to juggle the responsibilities of motherhood while pursuing your dreams is a testament to your strength and resilience. You have shown aspiring entrepreneurs everywhere that it is possible to create a successful business while nurturing a family.

Through your hard work and dedication, you have become role models for others, showcasing the power of entrepreneurship and the beauty of balancing family life. Your entrepreneurial endeavors not only contribute to your own success but also create opportunities for others, fostering economic growth and creating employment opportunities within your communities.

“Once you make the decision to go after something and actually start taking action, you will be surprised by how fast things manifest. You need to trust that you can do whatever it is you’re thinking about, and take the leap into new territory. By being so attached to what you already have, you are limiting yourself from elevating to the next level. Before you can receive new opportunities you need to first be prepared to move on from where you are now. Chase your dreams. God is on your side.”

Happy Mother’s Day to Mompreneurs Everywhere!

In today’s dynamic and ever-evolving world, the entrepreneurial mindset has become increasingly crucial for success. While entrepreneurship was traditionally associated with starting a business, its significance extends far beyond that. The entrepreneurial mindset is a way of thinking and approaching challenges that enables individuals to identify opportunities, take calculated risks, and drive innovation across various domains. In this article, we dive into the key characteristics of the entrepreneurial mindset and explore how cultivating it can lead to personal and professional growth.

Embracing Risk and Uncertainty: Entrepreneurs understand that risk and uncertainty are inherent in any endeavor. Rather than shying away from them, they embrace the unknown and view it as an opportunity for growth. They possess the courage to step outside their comfort zones, tackle challenges head-on, and adapt quickly to changing circumstances. By recognizing that failure is often a stepping stone to success, entrepreneurs develop resilience and learn from their mistakes.

Opportunity Recognition: One of the distinguishing features of the entrepreneurial mindset is the ability to identify opportunities that others may overlook. Entrepreneurs possess a keen sense of observation, curiosity, and an insatiable desire to solve problems. They actively seek gaps in the market, anticipate emerging trends, and leverage their creative thinking to generate innovative solutions. By continuously scanning the environment for possibilities, entrepreneurs create value and drive economic growth.

Solution-Oriented Approach: Entrepreneurs are driven by a relentless pursuit of solutions. Instead of focusing solely on problems, they adopt a proactive mindset that seeks to find viable alternatives. They challenge conventional thinking, question the status quo, and actively seek innovative approaches. Entrepreneurs possess a unique ability to envision a better future and take calculated steps to bring their ideas to fruition. Their resourcefulness and determination enable them to overcome obstacles and turn setbacks into opportunities.

Passion and Perseverance: Passion serves as the driving force behind the entrepreneurial mindset. Successful entrepreneurs are deeply passionate about their ideas and possess an unwavering belief in their vision. This passion fuels their dedication, helping them to persevere through challenges, setbacks, and long hours of hard work. Entrepreneurs remain motivated by their intrinsic desire to create a positive impact, leading to the development of groundbreaking products, services, and experiences.

Continuous Learning and Adaptability: Entrepreneurs understand that knowledge and skills are the foundation for success. They prioritize continuous learning, seeking opportunities to acquire new insights and expand their expertise. The entrepreneurial mindset embraces a growth-oriented approach, where failures are viewed as learning opportunities and feedback is welcomed. Entrepreneurs are adaptable, willing to pivot their strategies and adjust their course based on new information or changing market conditions.

Networking and Collaboration: Entrepreneurs recognize the power of collaboration and build strong networks of like-minded individuals. They actively seek out mentors, advisors, and partners who can provide guidance, support, and valuable connections. By surrounding themselves with diverse perspectives, entrepreneurs gain access to a wealth of knowledge and open doors to new opportunities. Collaboration fosters innovation, accelerates growth, and enables entrepreneurs to leverage the collective wisdom of their network.

Today’s Entrepreneurs: Visionaries or Doers?

“Being an entrepreneur is a mindset. You have to see things as opportunities all the time.” – Soledad O’Brien

In the past, opportunities were limited to job offers, referrals, or ads in newspapers. Business used to follow a strict routine: 9 to 5, rigid processes, resistant to change, confined within the boundaries.

However, technology and our dwindling sense of security, both in terms of jobs and overall stability, have presented us with new opportunities and motivations. We must keep our eyes wide open and venture beyond our comfort zones. It’s crucial to have an open mind in order to create valuable things, take charge of our own destiny, diversify our sources of income, take calculated risks, and break free from the constraints of complacency, fear, and procrastination.

We find ourselves in an environment where visionaries continue to shape the landscape, but it’s only those who take action that will emerge victorious. These individuals act swiftly, yet decisively, even if it means disregarding caution. They care little about others’ opinions and remain laser-focused not only on achieving success but also thriving in a significant way. They are the ones who make things happen and make them truly matter.

They are today’s entrepreneurs.

An Entrepreneur Knows

An entrepreneur knows to wake up in the morning and immediately begin planning the day ahead.

An entrepreneur knows to do this despite having already done so the night before and possibly several times throughout the night.

An entrepreneur knows he or she will awaken hungry for results.

An entrepreneur knows new ideas will be churned and devoured by his or her mind each day, each hour, each minute.

An entrepreneur knows the hunger for success has no end.

An entrepreneur knows all too well the success bar will keep rising.

An entrepreneur knows personal expectations will continue to grow.

An entrepreneur knows the fire in his or her belly must be fed continuously.

An entrepreneur knows he or she must accomplish more and more each and every day.

An entrepreneur knows the hunger will persist no matter how much he or she bites off.

An entrepreneur knows to chew faster and faster to keep from choking.

An entrepreneur knows to survive and to succeed is to fuel the hunger, not curtail it.

An entrepreneur knows all this because it’s in his or her DNA.

An entrepreneur knows…

Make it a great day. Make it happen. Make it count!

May 11, 2023 marked the end of the public health emergency for COVID-19. Many businesses for months have been acting as if the pandemic was long since gone. But the official end to the public health emergency on May 11th, an emergency that lasted more than 3 years, impacted business in many ways. As well, the pandemic affected how entrepreneurs approached and conducted business. Why is it that some entrepreneurs barely survived while others thrived?

In the middle of the pandemic, I had read an interesting article at bigideasforsmallbusiness.com about what small business had learned during the pandemic as of the then second anniversary of the pandemic. Below are some statements and quotes from that article that continue to stand out in my mind and especially as the public health emergency has officially ended…

What’s clear now is that on this second anniversary, there’s no going back to “normal.” Things have changed. What have we learned?

The worst of times don’t last.

In the midst of a crisis, it seems that it would never end. But it always does, albeit with some victims unable to recover. While hundreds of thousands of small businesses closed during the pandemic—some temporarily and some permanently—times have changed. The number of new startups is exploding, with 5.4 million new business applications filed in 2021. The unemployment rate peaked at 14.8% in April 2020, but was only 4% nationally in January 2022.

The lesson for small businesses to learn:

Hang in if possible until conditions change. In the words of televangelist Robert H. Schuller, “Tough times never last. Tough people do.”

New solutions need to be found.

Mandatory lockdowns forced many businesses to find new ways to do business. Some changes included:

• Restaurant take-outs when dining in wasn’t permitted.
• Curbside pickups at restaurants, supermarkets, and big box stores.
• Remote work arrangements for employees.

Some of these new solutions likely will continue to be business as normal as consumers and employees have adapted to what may have been thought of as temporary measures.

The lesson to learn:

Be prepared to continually adapt to changing conditions. In the words of musician Duke Ellington: “A problem is a chance for you to do your best.”

Expect the unexpected.

Who could have anticipated the pandemic? Yes, historians tell us there’s usually one every hundred years or so, but who remembers. Many, for example, have experienced and probably will experience natural disasters—hurricanes, wildfires, tornados—and other events. Think about the rioting that destroyed many small businesses in cities across the country in 2020 and 2021.

The lesson to learn:

There’s likely to be new events that challenge business owners. In the words of songwriter Bob Dylan: “Doesn’t expecting the unexpected make the unexpected expected?”

Anticipate unintended consequences.

It appears that two years after the declaration of a national emergency, we’re living with some unintended consequences that many experts are attributing to government programs—and printing money to pay for them—that helped individuals and businesses get through the worst of the pandemic.

And other conditions have changed:

Small businesses are struggling to find workers. Nearly half (47%) of small business owners said in January 2022 they had job openings they couldn’t fill.

Inflation is surging. The rate of inflation hit a 40-year high in January 2022.

Supply changes have been disrupted. Businesses are challenged to get the items they need and meet their customer demands. It’s generally agreed that the pandemic changed the global supply change.

The lesson to learn:

While a serious problem may fade away—the waning of the pandemic—new problems may arise. In the words of Apple founder Steve Jobs: “There are downsides to everything; there are unintended consequences to everything.”

Looking back, I think about an article I wrote last year when I asked, What would Jobs do? Today, with an official end – and a new beginning – upon us, I thought it’d be good to revisit that article.

Is Entrepreneurship the Path to Economic Recovery?

Is it necessary to change how to conduct business, adapting to the circumstances of the times instead of adjusting, revising which may be more akin to putting square pegs in round holes? Are we crazy to think different (as entrepreneurs, restaurateurs & small business owners), or should we just go with the flow?

Maybe we need a wrist band to remind us? WWJD… What Would Jobs Do?

Think Different Because the American Entrepreneurial Spirit is Alive!

As we know, small businesses and restaurants are having a difficult time due to rising costs due to inflation, supply chain issues, and labor challenges (I’m not so sure about actual worker shortages). Feeling the inflation pinch, as well, customers are being more diligent as to where and when they shop or as they may decide to enjoy a meal at or from a restaurant.

Although, some businesses and restaurants are realizing sales increases over pre-pandemic levels. Why and how are they thriving while others are barely surviving? But the real question in my mind has to do with change – not a shift, not a pivot, but actual change.

I just love the words of Steve Jobs shortly after he returned to Apple, the company he founded and launched the Think Different campaign. He started things off with these words:

“Here’s to the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes… the ones who see things differently — they’re not fond of rules, and they have no respect for the status quo… You can quote them, disagree with them, glorify or vilify them, but the only thing you can’t do is ignore them because they change things… They push the human race forward, and while some may see them as the crazy ones, we see genius, because the people who are crazy enough to think that they can change the world, are the ones who do.”

I especially find his words fitting as it’s been repeatedly stated that entrepreneurship will be our country’s path to economic recovery. After all, we may not be able to imagine life without the contributions of one, Steve Jobs.

I am an entrepreneur. Go ahead. Say it!

So, if entrepreneurship is front and center as the path to our country’s economic recovery, why is there reluctance to say, I am an entrepreneur? I’ve been asked that question many times. Heck, I’ve asked that question of myself on more than one occasion. It seems, at times we’re prouder to call ourselves, Founder or CEO or to say, I’m a business owner. Why is that?

Are those titles more respectful than entrepreneur? Yet, we hear of late, we’re in an entrepreneurial economy. So, is that a bad thing or a good thing, and especially if we have a hard time fully admitting to entrepreneurship? Or should we just be entrepreneurial in how we approach our work, whatever that truly means?

Are we claiming to be in an entrepreneurial economy to justify the disappearance of the lifelong career at one company, and this is just a way to say we need to create and prove ourselves over and over again, and forget the gold watch?

Back to the reference of being an entrepreneur… Is there a stigma of being a dreamer, always looking for something better, bigger, faster as opposed to what some believe is mundane, repetitive work with the security of a paycheck? Often, I hear it’s mostly due to yesterday’s immigrant mindset of being thankful to just have a job, yet it’s that same immigrant mindset that is the epitome of entrepreneurship.

We are living our fears.

Actually, I believe it’s because of fear — fear of failure, fear of what other people think, fear of the unknown, fear of the what if, fear of starting over, fear of change… But it’s when those fears are hit head-on and the adrenaline rush of success far outweighs those fears because you know, deep in your heart, that you have a deeply ingrained talent that can and will make a difference.

Does that mean failures aren’t possible? Hell no, but it’s working through those failures, those blips, those aberrations that provide experience and resiliency to improve and innovate to make the next step, the next task, the next venture successful. That is entrepreneurship.

And it’s when I don’t consider what I personally do as entrepreneurship that failure mostly occurs. Conversely, it’s when I focus on what I do as an entrepreneur, complete with that thinking outside the box and failure is not an option perspective, and when focused more on results as opposed to opinion of others that success mostly occurs.

Yes, I’m an entrepreneur. My focus will stay as such as it is not only good for me, but also for my family and for those that rely on me to help them achieve their wishes, hopes and dreams! Why? Because I believe in possibilities, as without them, there are none. How about you? Are you an entrepreneur? If so, then say it, and say it proudly because our great country needs you!

Still not sure about being an entrepreneur? If so, I’ll leave you with another quote by Steve Jobs…

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”

Resources & Support

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important. So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate.

You can reach me on LinkedIn, by email at Paul@Acceler8Success.com, and by phone or text at (832) 797–9851. Learn more about Acceler8Success Group at Acceler8Success.com and at Entrepreneurship411.com.

Make it a great day. Make it happen. Make it count!

Franchising has become a popular avenue for entrepreneurs seeking to expand their businesses and reach new markets. With approximately 300+ new franchise concepts launching each year, the landscape is highly competitive. These emerging franchises, along with other brands in the same category, represent an increasing percentage of opportunities available in the franchise industry today. However, the challenge lies in offering franchises without the advantage of brand recognition.

When a new franchise company enters the market, the founder becomes the face and embodiment of the brand. The founder’s passion for the business, their interactions with customers and employees, and their local marketing efforts all contribute to the brand’s image. Initially, the franchise candidates are often existing customers who inquire about the business’s franchise potential. These individuals have witnessed the founder’s success firsthand and are inspired to establish a relationship with them. They perceive the opportunity as a ground floor venture with direct access to the founder, which increases their confidence in the franchise’s potential success.

To leverage this initial interest, public relations efforts should be employed to highlight the founder’s accomplishments and maintain a positive reputation. This approach allows the founder’s influence to attract prospective franchisees who believe in the brand’s potential. In the early stages, expanding locally within the same market as the original business and first franchise location is recommended. This strategy allows for brand awareness to take hold in the local area and surrounding suburbs while establishing support systems and economies of scale. Once the concept gains traction and stability, expansion can be pursued outside the initial market.

However, it is crucial to exercise caution and focus development efforts on a limited number of cities in proximity to the corporate office. Taking requests from candidates nationwide can be financially risky for a new franchise company. By concentrating on one or two cities in close proximity to the corporate office, the company can provide hands-on support while minimizing travel time and expenses. A general rule of thumb is to limit early-stage development to a 4-hour drive or a 2.5-hour flight from the corporate office market. This proximity allows for effective support and guidance without undue strain on resources.

As franchise locations begin to establish themselves in these markets, the concept can be promoted in additional cities or regions. This “hub & spoke” model entails identifying new hub cities and expanding outward to the suburbs and neighboring regions. Each hub serves as a launching point for further expansion into nearby markets and sub-markets, essentially connecting the dots to create defined areas of brand saturation. By gradually building brand awareness and support systems, the franchise organization can create a network of hubs & spokes that forms the model and foundation for regional and ultimately, national expansion.

Controlled growth relies on the founder’s ability to exercise restraint and avoid rapid expansion or venturing too far from the core group of franchise locations and subsequent hubs. Adequate support, efficient ad cooperatives, and brand development can only be achieved within a manageable geographic range. It is essential to strike a balance between growth and maintaining the brand’s integrity and quality across all locations.

To summarize, success for emerging franchise brands is based upon early-stage efforts to control growth. A founder’s clear vision and commitment to a structured development plan, coupled with active participation in the franchise award process, are crucial elements for success. Without a controlled approach, the franchise system risks missing development goals, disappointing stakeholders, and engaging in reactive decision-making. By proactively implementing a well-thought-out plan, emerging franchises can navigate the challenges of brand recognition and achieve long-term success in the competitive world of franchising.

Resources & Support

Creating the Right Culture Within a Franchise Organization

Franchise Success Strategy

What Franchisors Must Know About Their Franchise and its Relationships

For an initial no-obligation discussion about your emerging franchise brand, you can reach me via a LinkedIn message, by email to Paul@Acceler8Success.com, or by phone or text at (832) 797-9851.

Learn more about resources and support for franchise and restaurant brands at Acceler8Success.com. If you’re interested in coaching for current and aspiring entrepreneurs (and founders of emerging franchise brands), please visit Entrepreneurship411.com. 

Make it a great day. Make it happen. Make it count!

Franchise restaurant brands have been a staple of the American dining landscape for decades, offering customers the convenience and consistency of a well-established brand. Traditionally, these franchises have grown and expanded through opening new brick-and-mortar locations in strip centers and standalone buildings. However, non-traditional venues offer an exciting and often overlooked opportunity for franchise restaurant brands to expand their footprint and reach new customers. In this article, we will explore non-traditional venues such as airports, universities & colleges, sports stadiums & event complexes, corporate campuses & industrial parks, food truck parks & food halls, pop-ups & mobile kitchens, and ghost & virtual kitchens, and how they can be used by franchise restaurant brands to grow and expand.

Airports

Airports are bustling hubs of activity, with millions of travelers passing through each year. These travelers are often in a rush and looking for a quick bite to eat before boarding their flights. For franchise restaurant brands, this presents an excellent opportunity to set up shop in an airport location. With a captive audience, airport locations can be incredibly profitable, especially if the franchise offers a menu that is easy to prepare and can be served quickly. Many airport locations also operate on a 24-hour schedule, which means that franchisees can generate revenue around the clock.

Universities & Colleges

Universities and colleges are also excellent non-traditional venues for franchise restaurant brands to expand. Many students are away from home for the first time and are looking for familiar brands to satisfy their hunger. Additionally, universities and colleges are often located in dense urban areas, which means that the potential customer base is significant. Franchise restaurant brands that cater to college students’ tastes, such as pizza or fast-casual burgers, can find great success in this market.

Sports Stadiums & Event Complexes

Sports stadiums and event complexes are another non-traditional venue that offers a captive audience. With thousands of people attending events, franchise restaurant brands can capitalize on this opportunity by opening up express-type locations. The key is to offer a menu that is quick and easy to prepare, allowing customers to get back to the game or event quickly. Franchise restaurant brands that are associated with a particular sport or event can also find success in this market.

Corporate Campuses & Industrial Parks

Corporate campuses and industrial parks are often located in areas where there are few dining options. This presents an excellent opportunity for franchise restaurant brands to expand by opening up express-type locations that cater to workers in the area. With a captive audience and little competition, franchise restaurant brands can generate significant revenue in these locations.

Food Truck Parks & Food Halls

Food truck parks and food halls are becoming increasingly popular in urban areas. These locations offer customers a variety of dining options in a single location, making them a perfect venue for franchise restaurant brands to expand. Food trucks can serve as a low-cost entry point for franchisees looking to expand their portfolio, while food halls can provide a more substantial revenue stream.

Pop-Ups & Mobile Kitchens

Pop-ups and mobile kitchens are becoming increasingly popular for franchise restaurant brands to assess new markets and expand their brand awareness. Pop-ups can be set up in high-traffic areas such as shopping centers or city streets, while mobile kitchens can be utilized to cater for events or serve customers at festivals. These non-traditional venues offer franchise restaurant brands the opportunity to reach new customers without the overhead costs associated with opening a brick-and-mortar location.

Ghost & Virtual Kitchens

Ghost and virtual kitchens are a new trend in the restaurant industry that offers franchise restaurant brands an innovative way to expand. Ghost kitchens are commercial kitchens that are used exclusively for delivery or takeout orders, while virtual kitchens mostly operate online, with no consumer-facing physical location. Both non-traditional venues can be a cost-effective way for franchise restaurant brands to expand their reach without the expense of opening a traditional restaurant. They are particularly useful for franchisees who may not have the capital to open a physical location or for brands that are looking to test new menu items or concepts without committing to a brick-and-mortar location.

Benefits of Non-Traditional Venues

Non-traditional venues offer several benefits to franchise restaurant brands looking to expand. First and foremost, they provide access to a new customer base. By opening in non-traditional venues, franchise restaurant brands can reach customers who may not have been aware of the brand or who may not have been willing to make the trip to a traditional location. Non-traditional venues also offer lower overhead costs than traditional locations. For example, express-type locations require less space and fewer employees than a traditional restaurant, which means that franchisees can save on rent and labor costs. This can make it easier for franchisees to turn a profit and can be an attractive option for multi-unit and multi-brand franchisees looking to expand their portfolio.

Additionally, non-traditional venues can provide franchise restaurant brands with valuable exposure. By opening in airports, universities, or corporate campuses, brands can gain exposure to a captive audience who may be unfamiliar with the brand. This can help increase brand awareness and can lead to new customers at traditional locations. For multi-unit and multi-brand franchisees, non-traditional venues can also provide diversification to their portfolio. By opening in several non-traditional venues, franchisees can spread their risk and generate revenue from multiple sources.

Challenges of Non-Traditional Venues

While non-traditional venues offer many benefits, there are also several challenges that franchise restaurant brands may face when expanding into these locations. One of the biggest challenges is the limited space available in non-traditional venues. Express-type locations, food trucks, and pop-ups typically require less space, but they may also have limited seating or no seating at all. This can make it difficult to serve a high volume of customers during peak hours or to offer a full menu. Additionally, franchise restaurant brands may face competition from other vendors in non-traditional venues, which can make it harder to stand out.

Another challenge of non-traditional venues is the need for specialized equipment or staffing. For example, opening within an airport or sports stadium may require specialized equipment or training to meet the unique demands of the location. Franchise restaurant brands may also need to hire staff and train them to work in these non-traditional environments, such as food truck drivers or mobile kitchen operators.

Summary

Franchise restaurant brands can leverage non-traditional venues to extend their reach and attract new customers. Express locations found at airports, universities, and corporate campuses, as well as food trucks and virtual kitchens, can offer a cost-effective means of generating revenue and increasing brand awareness. Despite the many advantages that non-traditional venues provide, they also pose challenges, including space limitations and specialized staffing or equipment requirements. Nonetheless, franchise restaurant brands should view non-traditional venues as a viable option for expanding their operations, particularly for multi-unit and multi-brand franchisees seeking to broaden their reach.

Resources & Support

The Acceler8Success team focuses on helping entrepreneurs achieve their entrepreneurial goals through franchise ownership. For information and assistance in exploring restaurant franchise opportunities, including multi-unit and multi-brand development, please reach out to me today. You may do so via a LinkedIn message, by email to Paul@Acceler8Success.com, or by phone or text at (832) 797-9851.

Learn more about Acceler8Success Group at Acceler8Success.com. Also, please check out two of our other resource & support sites at Entrepreneurship411.com and OwnABizness.com. 

Make it a great day. Make it happen. Make it count!

The restaurant industry is an ever-changing and dynamic sector that presents numerous opportunities for entrepreneurs. Franchising has become increasingly popular in recent years as it allows entrepreneurs to tap into an established brand and business model while still maintaining some level of independence and control over their operations. In this article, we will explore franchise opportunities in the restaurant industry, including details about QSR, fast-casual, fast-food, and full-service industry segments.

QSR, or Quick Service Restaurants, are a type of fast-food restaurant that offers quick, affordable, and convenient meals. These types of restaurants typically have a limited menu and are designed for customers on the go. Examples of QSR franchises include Jersey Mike’s, Teriyaki Madness, and Dunkin’. QSR franchises are a popular option for entrepreneurs who are looking for a relatively low-cost entry into the restaurant industry. QSR franchises are the “easiest” restaurants to operate for those with limited or even with no prior restaurant experience.

Fast casual restaurants are a newer category of restaurants that offer higher quality food and a more upscale atmosphere than traditional fast-food restaurants. These restaurants typically have a more extensive menu than QSRs and offer table service. Examples of fast-casual franchises include Panera Bread, Chipotle, and Five Guys. Fast-casual franchises are a good option for entrepreneurs with some practical restaurant experience and a diverse skillset that could be transferred to running a business with many moving parts.

Fast-food restaurants are typically known for their low prices, convenience, and speed of service. These restaurants often have a limited menu and offer quick and easy meals to customers on the go. Examples of fast-food franchises include McDonald’s, KFC, and Taco Bell. Fast-food franchises require significant practical restaurant experience to operate successfully.

Full-service restaurants are a more traditional type of restaurant that offers customers a complete dining experience. These restaurants typically have a larger menu than QSRs or fast-casual restaurants and offer table service. Examples of full-service restaurant franchises include Olive Garden, Red Lobster, and Outback Steakhouse. Full-service restaurant franchises require significant practical restaurant experience to operate successfully.

Missing from the examples above are pizza restaurants. According to an article at PizzaMarketplace.com, despite the claims of restaurant analysts who lump pizza into the fast-food category, pizza is not even close to fast-food or even quick-service food.

Think about it: Outside of getting pizza at a slice joint, there’s really nothing quick or fast about buying a pie. On average, any customer who walks up to your counter and orders a pizza will have to wait about 10 minutes or less, and delivery takes about three times as long. By comparison, McDonald’s goal is to complete every drive-thru transaction in about 2 minutes. That’s fast, and that kind of turnover isn’t happening in the vast majority of pizza businesses.

When operating a franchise, there are different approaches that can be taken. One common approach is to have a partnership where one partner focuses on back-of-the-house operations, including food quality and inventory control, and the other partner drives the front-of-the-house, including oversight of the customer experience. This approach can be effective in dividing responsibilities and ensuring that the restaurant is run efficiently. Another approach is to build the business around a General Manager with significant restaurant operations experience.

Another approach to franchising is multi-unit ownership. This involves building upon a successful initial franchise location and then expanding to enable multi-unit franchisees to build an organization driven by economies of scale. Multi-unit ownership allows franchisees to maximize their profitability while minimizing their risk.

In recent years, there has been a growing trend of immigrant entrepreneurs investing in the restaurant segment of franchising. Many of these entrepreneurs are building multi-unit operations and some are even building multi-unit, multi-brand empires. This trend is driven by a combination of factors, including the desire for financial stability and the opportunity to achieve the American Dream.

In conclusion, franchising is an attractive option for entrepreneurs looking to start their own restaurant business. The restaurant industry offers a variety of franchising options, including QSR, fast-casual, fast-food, and full-service industry segments. Success in the restaurant industry requires significant practical restaurant experience or a diverse skillset that can be transferred to running a business with many moving parts. Additionally, partnerships and multi-unit ownership can help franchisees maximize their profitability and minimize their risk. Finally, the growing trend of immigrant entrepreneurs investing in the restaurant segment of franchising is driving innovation and growth in the industry.

Resources & Support

The Acceler8Success team focuses on helping entrepreneurs achieve their entrepreneurial goals through franchise ownership. For information and assistance in exploring restaurant franchise opportunities, including multi-unit and multi-brand development, please reach out to me today. You may do so via a LinkedIn message, by email to Paul@Acceler8Success.com, or by phone or text at (832) 797-9851.

Learn more about Acceler8Success Group at Acceler8Success.com. Also, check out two of our other resource & support sites at Entrepreneurship411.com and OwnABizness.com. 

Make it a great day. Make it happen. Make it count!

Creating a balance in messaging for personal branding between personal life and business is important, as it helps to establish a connection with your audience while maintaining professionalism. Here are some tips to help you strike the right balance:

1. Know Your Audience: Understand who your target audience is and what they are looking for. This will help you determine what type of content to share.
2. Be Authentic: Share your personal stories and experiences, but make sure that they are relevant to your brand and your audience. Avoid oversharing personal information that may be irrelevant or inappropriate.
3. Keep it Professional: While it’s important to be authentic, you should also maintain a level of professionalism. Avoid sharing information that may reflect negatively on your brand or create a conflict of interest.
4. Consistency: Ensure that your messaging is consistent across all platforms, whether it’s social media, email marketing, or your website. This will help to establish a clear and cohesive brand image.
5. Test and Learn: Experiment with different types of content and messaging to see what resonates best with your audience. Use analytics and metrics to track engagement and adjust your approach as needed.

In terms of how far to go to either side for ultimate effectiveness, it really depends on your brand and your audience. Some brands may benefit from a more personal approach, while others may require a more professional tone. Ultimately, you should aim for a balance that is appropriate for your brand and resonates with your audience.

In terms of what should be included and what should not be included, it’s generally best to focus on content that is relevant to your brand and your audience. Avoid sharing anything that is controversial or potentially offensive, and be mindful of the tone and language you use.

Finally, it’s important to know when it’s too much information being shared. If you find that your audience is disengaging or that you are receiving negative feedback, it may be a sign that you are oversharing. Keep an eye on your analytics and adjust your approach accordingly.

Resources & Support

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important. So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate.

You can reach me on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797–9851. Learn more about Acceler8Success Group at Acceler8Success.com and also at Entrepreneurship411.com.

Make it a great day. Make it happen. Make it count!