Acceler8Success Cafe Daily Sunday 10.25.20

5 Steps for Navigating Entrepreneurship in a Post-Covid Era

The world has become a place which nobody had ever imagined a few months ago. It has been surrounded by the outbreak of a virus that has brought the working of many businesses, brands, and entrepreneurs to a standstill. Nobody was ever prepared for such crucial times in the business world and the situations and circumstances have today made companies and entrepreneurs introspect and come to the conclusion of what needs to be done now to either retain their original positions in the market or thrive with the new normal.

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Young Entrepreneurs are Redefining the American Dream

For young entrepreneurs, the American dream has changed. There has been a massive shift in values. Rather than looking for a job with good benefits and the opportunity to become a homeowner - young entrepreneurs are seeking freedom. Freedom of time and location.

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“Are you bored with life? Then throw yourself into some work you believe in with all you heart, live for it, die for it, and you will find happiness that you had thought could never be yours.” – Dale Carnegie

For info about how owning a Pepperoni’s franchise can help you find happiness along with security and prosperity, please visit HERE.

Restaurant operating profits will rise 15% in 2021, Moody’s predicts

Moody’s upgraded its outlook for the U.S. restaurant industry from negative to stable, according to an an Oct. 20 report emailed to Restaurant Dive. The status change comes as business conditions are expected to continue to slowly improve in the next 12 to 18 months due to easing restrictions and consumers’ gradual return to dining out.

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Why the Fast-Food Dining Room Could be a Thing of the Past

Is the fast-food dining room dead? Probably not. But the pandemic could well give rise to a new generation of restaurants that ditch indoor seating altogether. With quick-service restaurants thriving during the pandemic, thanks largely to the drive-thru, more companies are considering takeout-only units. Del Taco said last week, for instance, that it plans to test a smaller, drive-thru-only restaurant that ditches interior seats. That comes on the heels of Burger King’s new drive-thru-focused prototype, some versions of which do not include interior seats. 

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Benetrends Financial, a pioneer in the industry, has helped thousands of potential small business owners secure funding over the past 35 years. If you’re looking for a business lending source to help finance your start-up or manage your future wealth, contact Benetrends today.

Leveraging entrepreneurship to close racial wealth gaps

The latest jobs report shows that our national recovery from the COVID-19 pandemic and its economic impact will be slow and painful for millions of Americans, particularly those who did not have the luxury of wealth before the pandemic. It is increasingly clear that the capitalist system created for our society is not working for everyone, leaving some insulated from the wreckage of our economy, while others cannot escape. Without a change to the mechanisms of how our economy functions, there is no hope for a fully equitable recovery.

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The Acceler8Success team focuses on helping entrepreneurs, solopreneurs, restaurateurs, brand founders, business partners, professional services providers, freelancers and multi-level marketers achieve their entrepreneurial goals while building and strengthening their personal brands.

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QSR & Pizza Fueling Franchise Growth

Fast-Food-2Each year the International Franchise Association commissions a study from PwC (PricewaterhouseCoopers) on the economic impact of franchising in the U.S. Highlights from that study include the following:

  • Taking into account the indirect impact of franchised businesses, business format franchises support more than 13.2 million jobs, $1.6 trillion in economic output for the U.S. economy, and 5.8 percent of the country’s GDP.
  • Franchise businesses provided more jobs in 2016 than wholesale trade, transportation and warehousing, nondurable goods manufacturing, and information (including software and print publishing, motion pictures and videos, radio and television broadcasting, and telecommunications carriers and resellers).
  • Quick service restaurants (QSR) is the largest category, representing 25 percent of all franchise establishments and 45.5 percent of all franchise jobs.
  • Jobs supported because of franchise businesses were at least 10 percent of the private sector nonfarm workforce in 33 states, and at least 6 percent in every state.
  • The number of people employed by franchises is greatest in California, Texas, Florida, Illinois, and Ohio.
  • Franchisees own and operate 88 percent of all business format franchise establishments and franchisors own and operate 12 percent.

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Quick Serve Franchise Sector Continues to Blaze a Trail for Franchising

There is little doubt that the franchise industry is undergoing significant changes fueled in great part by the success of various PE firms that began in the QSR sector. As other franchise sectors are targeted by PE investors, the competitive environment in those sectors will become more challenging. In order to prepare for these challenges, small to medium sized franchises will need to become successful franchise systems that produces sustained system growth, successful franchisees and an efficient operating system.

Multi-unit franchisee ownership that originated in the QSR sector continues to increase as franchisors seek large multi-unit franchisees that can own and operate more franchise units.This ownership model provides organizational stability, ample financial resources, sustained growth and economies of scale to the franchisee operation.

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Who’s Winning the Pizza Wars?

Welcome to the pizza wars, where brands big and small, quick-service and fast-casual alike face two choices: pick up the pace and earn relevancy through definitive, clear marketplace differentiation or step aside.

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Is Franchising the Right Way to Grow Your Restaurant Business… or Any Business, for That Matter?

This past January I presented a webinar for RestaurantOwner.com about the ins and outs of franchising a restaurant business. Special attention was also placed on preparing to franchise and how doing so could significantly improve the business itself and provide a road map for multi-unit operations – even without actually proceeding into franchising.

Well, the response after the event was quite robust and led to us performing a number of franchise feasibility studies for independent restaurant owners in various markets across the country. Our recommendations were split on whether to franchise or stay the course as an independent operation. In the coming months, we’ll be able to see how our recommendations play out. In the meantime, interest remains high, not only for restaurants but also non-foodservice operations across a multitude of industries and industry segments exploring franchising as an expansion or growth strategy.

RSG_Logo_Rev3.pngLast month, in Restaurant Startup & Growth magazine, a RestaurantOwner.com publication, appeared an article by the RS&G staff, taking a deep dive into my webinar and philosophy about franchising a business. The article started out…

Some of the most successful brands – in any sector – are franchises. In the restaurant business, they are household names. For many independent operators, franchising their concept is the so-called “Big Hairy Audacious Goal”. Before you take that leap, there are a lot of small and critical steps to consider.

The rest of the article, Baby Steps – Is Franchising the Right Way to Grow Your Restaurant Business? may be read on pages 42-47 by clicking HERE.