Tag: Small Business

Celebrating Franchising as a Pillar of the American Dream

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Franchising stands as a cornerstone of entrepreneurship, serving as a vibrant force that fuels business growth and innovation. Whether through restaurants, service brands, hotels, or retail establishments, franchising has consistently demonstrated its resilience and adaptability in an ever-changing marketplace.

At its heart, franchising is about opportunity—not just for the franchisors creating scalable models but also for the franchisees who bring these concepts to life. Franchisees are, in every sense, small business owners. They face the same challenges, embrace the same opportunities, and contribute equally to the fabric of their communities as their independent counterparts on Main Street USA. This is a point I have made time and again, including directly to American Express since it launched Small Business Saturday years ago. Franchisees, too, deserve recognition for their pivotal role in driving local economies.

Last year, Acceler8Success Cafe has highlighted franchising as a key topic in countless articles, exploring its evolution, impact, and future potential. Each story has aimed to capture the essence of franchising as a dynamic avenue for entrepreneurial success. Listed below are some of last year’s most impactful articles, which have resonated deeply with entrepreneurs, aspiring franchisees, and small business advocates alike.

From the lessons learned by multi-unit operators to the emerging trends shaping restaurant and retail franchises, our coverage has been diverse and insightful. We have celebrated franchise success stories, analyzed the challenges of scaling franchise systems, and delved into the ways franchises contribute to local and national economies. Whether spotlighting innovative franchise models or discussing the essentials of franchisee-franchisor relationships, these articles have underscored franchising as an enduring pillar of entrepreneurship.

As we have moved into a new year, the focus on franchising at Acceler8Success Cafe will remain as strong as ever. It is more than just a business model—it is a testament to the entrepreneurial spirit, a vehicle for achieving the American Dream, and a vital part of our mission to inspire, educate, and connect.

For those who have followed our franchising coverage last year, thank you for being part of the journey. And for those just discovering the power of franchising, there is no better time to explore this extraordinary world of opportunity. Stay tuned as we continue to champion franchising and its role in shaping the future of entrepreneurship. In the meantime, please take some time to explore the following articles:

Franchising: A Proven Roadmap to Entrepreneurship

Often seen as a distinctive approach to business ownership, franchising is, at its core, a highly entrepreneurial venture. Franchise owners are individuals who invest their life savings, assume significant … More

Franchisee or Entrepreneur: Which Path is Right for You?

Franchisees and entrepreneurs who start businesses from scratch both seek the rewards of business ownership, but their paths are quite different. One of the most prominent differences between the two lies in their propensity for risk. Entrepreneurs who build their businesses from the ground up face significant uncertainty. They must develop everything from the brand … More

Franchise Opportunities: Weighing the Pros and Cons of New vs. Resale

When a franchise candidate explores either a new franchise opportunity or the purchase of an existing resale, they must carefully consider several factors that impact both the short-term and long-term success of their venture. Both paths can lead to rewarding outcomes, but they come with unique challenges and opportunities. A new franchise offers the chance … More

Buying a Franchise Restaurant vs. an Independent Restaurant: The Food Looks the Same, So What’s the Difference?

The restaurant industry offers diverse opportunities for aspiring entrepreneurs. Among the most significant decisions is whether to buy a franchise restaurant or an independent restaurant. Both options come with their own set of benefits and challenges, especially in today’s uncertain economy. Let’s scratch the surface and explore these two pathways to help you make an … More

Family Partnerships in Franchise Ventures: Leveraging Strengths for Success

Buying a franchise can be an exciting venture, offering the opportunity to tap into a proven business model with built-in support and brand recognition. However, when considering involving family members, particularly adult children, as minority partners and members of the leadership team, careful planning and strategy are essential for success. To ensure an effective and collaborative … More

Will Franchising Boom in the Wake of Corporate Layoffs?

As major corporations continue to announce significant layoffs, a potential boom in franchising emerges as a hot topic. This trend prompts a critical examination of franchising as a viable career alternative for those displaced by the shrinking job market. The Appeal of Franchising Franchising offers a structured business model with substantial support from the franchisor, … More

Considering a Franchise After a Career in Corporate America

For many professionals accustomed to the structured environment of corporate America, the idea of purchasing a franchise presents an appealing opportunity for entrepreneurship. While the transition from an employee to a business owner is filled with potential benefits, it also comes with significant challenges. This article outlines the key considerations for corporate professionals looking to … More

Understanding the Marriage-Like Relationship of Franchising

When venturing into a franchise agreement, many liken the relationship to a marriage. This analogy is not without merit, as both involve significant commitments, shared goals, and the need for compatibility. Yet, there are also critical distinctions that potential franchisees must consider. Understanding these similarities and differences can help entrepreneurs evaluate their readiness and suitability … More

Bridging the Knowledge Gap: Essential Business Skills for Franchise and Restaurant Success

In franchising, and in restaurant businesses, a significant gap exists in the discussion of general business skills and best practices. Articles and resources abound that dive into the specifics of running a franchise or restaurant, yet they often overlook the foundational business disciplines crucial for success at every management and leadership level. This oversight can … More

Why a Quick Service Restaurant Franchise is Ideal for First-Time Entrepreneurs

Choosing a Quick Service Restaurant (QSR) franchise as a venture into entrepreneurship, even without prior foodservice experience, can be a strategic and potentially rewarding decision. This article explores the rationale behind this choice, supported by facts and expert insights, and presents key questions for aspiring entrepreneurs to consider. Accessibility of the Franchise Model Key Reason: … More

Franchising embodies the essence of entrepreneurship, providing a reliable path to success for both newcomers and experienced business owners. At Acceler8Success, we are dedicated to showcasing franchising’s impact in driving innovation, fueling growth, and empowering individuals to turn their dreams into reality. Whether you’re just beginning to explore franchising or seeking to deepen your understanding, we invite you to connect with us. Discover more by reaching out HERE.

About the Author

With more than 40 years of experience in small business, restaurant, and franchise management, marketing, and development, Paul Segreto is a respected expert in the entrepreneurial world, dedicated to helping others achieve success. Whether you’re an aspiring or current entrepreneur in need of guidance, support, or simply a conversation, you can connect with Paul at paul@acceler8success.com.

Has the Small Business Success Model Changed?

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The small business success model has long been rooted in the expectation of building equity, creating wealth, and establishing a legacy. Small business ownership was seen as a pathway to financial independence, where the end goal extended beyond profitability to the opportunity of selling a thriving business or passing it on to future generations. Today, however, many entrepreneurs find themselves questioning whether this model still holds true or whether it’s been redefined by shifting economic conditions and evolving mindsets.

For many, the reality of small business ownership has shifted from the dream of wealth creation to what feels more like owning a demanding job. This is particularly true for entrepreneurs who find themselves locked into long hours, struggling to achieve consistent profitability. The challenge of turning a profit, compounded by rising costs, supply chain disruptions, and labor shortages, has become a hurdle for even the most dedicated small business owners. The idea of walking away, once unthinkable for those pursuing equity and legacy, now feels like an acceptable option—or even an inevitability—for some.

Economic uncertainty, fueled by the pandemic, has undoubtedly played a role in reshaping perspectives on small business ownership. For many entrepreneurs, the COVID-19 crisis forced a reckoning with financial vulnerability, operational fragility, and the risks inherent in small business ownership. Some business owners chose to pivot, adapt, and rebuild, but others realized that the weight of these challenges might not be worth the potential rewards.

This shift raises important questions: Is the traditional small business success model still viable, or does it need to be reimagined? Should profitability remain the cornerstone of small business ownership, or has the goal of building equity been replaced by survival and stability?

The answer may lie somewhere in between. While the fundamentals of entrepreneurship—profitability, growth, and value creation—remain as relevant as ever, the pathways to achieving those goals require a fresh approach. Here are a few key considerations that could help redefine the small business success model for today’s entrepreneurs:

  1. Mindset Shift: For many, the struggle to achieve profitability and build equity may stem from a mindset shaped by fear and uncertainty. The pandemic heightened a focus on short-term survival, leaving long-term goals sidelined. A renewed focus on strategic planning, adaptability, and innovation can help entrepreneurs regain confidence in the viability of their businesses.
  2. Operational Efficiency: Rising costs and shrinking margins make it more critical than ever for small businesses to optimize operations. From leveraging technology to streamlining workflows, focusing on efficiency can lead to profitability and sustainability.
  3. Value-Driven Models: Building equity requires more than just financial performance—it demands a focus on creating a business with transferable value. Entrepreneurs must look beyond day-to-day operations and consider how to position their businesses as attractive to potential buyers or successors.
  4. Support Systems: Economic uncertainty has underscored the importance of support networks for small business owners. From mentorship and coaching to peer groups and financial advisors, having a strong support system can help entrepreneurs navigate challenges and seize opportunities.
  5. Resilience and Adaptability: Small business owners who survived the pandemic learned valuable lessons about resilience. Embracing change, diversifying revenue streams, and staying agile can help businesses thrive in unpredictable environments.

Ultimately, the small business success model hasn’t fundamentally changed—it’s the environment and mindset surrounding it that have shifted. Profitability, equity, and legacy remain attainable goals, but they require a willingness to adapt, innovate, and rethink traditional approaches. By doing so, small business owners can ensure they’re building more than just a job; they’re creating a sustainable and rewarding future.

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

About the Author

With more than 40 years of experience in small business, restaurant, and franchise management, marketing, and development, Paul Segreto is a respected expert in the entrepreneurial world, dedicated to helping others achieve success. Whether you’re an aspiring or current entrepreneur in need of guidance, support, or simply a conversation, you can connect with Paul at paul@acceler8success.com.

Celebrating a Remarkable Year at Acceler8Success Cafe

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I hope this message finds you in excellent spirits, thriving in your entrepreneurial pursuits, and embracing the opportunities that come with this special time of year. As the days grow shorter and the year begins its final chapter, we find ourselves reflecting on the incredible journey that has been shared through the Acceler8Success Cafe newsletter—a journey defined by growth, learning, and connection.

First and foremost, I want to extend my heartfelt gratitude to you as valued readers and community members. Your unwavering support, engagement, and trust have been the foundation of this platform’s success. Week after week, you’ve taken the time to read, reflect, and apply the insights shared here. Many of you have reached out with words of encouragement, thoughtful feedback, and even your own entrepreneurial stories—reminding me of the extraordinary power of this community. You inspire me daily, and for that, I am deeply thankful.

This year has been a remarkable one for Acceler8Success Cafe, filled with milestones, discoveries, and meaningful interactions. Together, we’ve explored a wide range of topics, from practical strategies for navigating entrepreneurial challenges to inspiring stories of resilience and innovation. Every piece of content has been shaped by your feedback, ensuring it resonates with the needs and aspirations of this diverse and dynamic audience. It’s been a true partnership, and the results speak for themselves.

One of the most exciting highlights of the year has been the rapid growth of our community. I’m thrilled to welcome the many new subscribers who have joined us over the past months. Seeing our audience expand is not just a testament to the value of Acceler8Success Cafe but also a reminder of how many individuals are passionately pursuing their entrepreneurial dreams. With every new member, this network becomes stronger, more vibrant, and better equipped to support each other in achieving success.

I can’t help but feel a sense of excitement and purpose for 2025. The entrepreneurial journey is rarely straightforward—it’s filled with twists, turns, and the occasional uphill climb. Yet, it’s a path that offers immense rewards to those willing to take the risks and embrace the challenges. I firmly believe that with the collective wisdom and support of this community, we can overcome any obstacle and seize every opportunity that comes our way. Together, we’ll continue to learn, adapt, and thrive.

I’m committed to ensuring that Acceler8Success Cafe remains a trusted resource, a source of inspiration, and a platform for meaningful connections. Whether it’s through exploring new topics, sharing more success stories, or providing actionable insights, my goal is to continue delivering content that empowers you on your entrepreneurial journey. I’m also excited about the opportunities to engage with you more directly and expand the ways this community can support your growth and success.

As the new year approaches, I encourage you to take a moment to celebrate your accomplishments, reflect on the lessons learned, and recharge for the road ahead. This is a season for gratitude, connection, and renewed purpose—values that are at the heart of the entrepreneurial spirit.

Thank you for being an integral part of Acceler8Success Cafe. Your support means everything to me, and I’m truly excited about the possibilities that lie ahead for all of us. Let’s continue to dream big, work hard, and make a difference—together.

Here’s to a joyful and meaningful holiday season. Let’s make it a season to remember. Make it a season of purpose. Make it happen. Make it count!

About the Author

With more than 40 years of experience in small business, restaurant, and franchise management, marketing, and development, Paul Segreto is a respected expert in the entrepreneurial world, dedicated to helping others achieve success. Whether you’re an aspiring or current entrepreneur in need of guidance, support, or simply a conversation, you can connect with Paul at paul@acceler8success.com.

Family Partnerships in Franchise Ventures: Leveraging Strengths for Success

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Buying a franchise can be an exciting venture, offering the opportunity to tap into a proven business model with built-in support and brand recognition. However, when considering involving family members, particularly adult children, as minority partners and members of the leadership team, careful planning and strategy are essential for success.

To ensure an effective and collaborative team effort while leveraging each family member’s individual skillset, it’s crucial to establish clear roles and responsibilities from the outset. Here are some steps to consider:

  1. Identify Individual Strengths: Utilize tools like the Kolbe assessment to understand each family member’s unique abilities and natural instincts. Kolbe measures four action modes — Fact Finder, Follow Thru, Quick Start, and Implementor — which help identify how individuals approach problem-solving and decision-making. By recognizing each person’s innate strengths, you can assign tasks and responsibilities that align with their abilities, maximizing efficiency and productivity.
  2. Promote Open Communication: Encourage open dialogue and regular team meetings to discuss goals, challenges, and strategies. Emphasize the importance of active listening and respectful communication, allowing each family member to voice their opinions and ideas. In cases of disagreement, encourage constructive conflict resolution techniques, such as compromise and consensus-building, to find mutually beneficial solutions.
  3. Establish Leadership Roles: While collaboration is key, it’s essential to designate a clear leader who can provide direction and make final decisions when necessary. This leader should possess strong leadership qualities, including the ability to inspire, motivate, and mediate conflicts within the team. In the event of a deadlock or impasse, having a designated leader can prevent stagnation and keep the business moving forward.

Incorporating family members into a business venture can bring unique advantages, such as shared values, trust, and commitment. However, it’s essential to consider the following points:

  1. Financial Considerations: When only the parents are investing in the franchise, it’s crucial to establish clear financial agreements and expectations. Determine how ownership shares will be divided and whether family members will receive compensation or dividends based on their involvement in the business.
  2. Succession Planning: Plan for the future by outlining a succession strategy that ensures a smooth transition of leadership and ownership. Discuss long-term goals and aspirations for the business, including the involvement of future generations and potential exit strategies.
  3. Professional Boundaries: Maintain professional boundaries within the family dynamic to avoid conflicts of interest or favoritism. Clearly define roles and responsibilities based on merit and qualifications, rather than familial relationships, to foster a culture of fairness and accountability.

“The strength of a family, like the strength of an army, lies in its loyalty to each other.” — Mario Puzo, Author, The Godfather

Integrating family members into a franchise business can be a rewarding experience, but it requires careful planning, communication, and collaboration. By leveraging each individual’s unique abilities, promoting open communication, and establishing clear leadership roles, you can build a successful and sustainable family-run enterprise.

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

About Acceler8Success

Acceler8Success provides personalized business coaching to develop leadership skills, improve management practices, and boost overall performance through workshops and one-on-one sessions. Committed to delivering measurable results, Acceler8Success focuses on empowering entrepreneurs and business leaders with the tools, education, and mentorship needed to achieve and sustain success. Learn more at Acceler8Success.com.

If you’re interested in exploring franchising as your next career step or life transition, please reach out to Acceler8Success CEO, Paul Segreto by email to paul@acceler8Success.com. Also, take a moment to review our site, The Path to Business Ownership.

Will Franchising Boom in the Wake of Corporate Layoffs?

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As major corporations continue to announce significant layoffs, a potential boom in franchising emerges as a hot topic. This trend prompts a critical examination of franchising as a viable career alternative for those displaced by the shrinking job market.

The Appeal of Franchising

Franchising offers a structured business model with substantial support from the franchisor, including marketing, training, and operational assistance. This can lower the barriers to entry for those new to entrepreneurship, providing a smoother transition from employment to business ownership. The inherent appeal of franchising lies in its ability to offer a “business in a box” model, where the framework for running a business, backed by a recognized brand and proven business strategies, is already established.

Economic Context and Financing

The economic uncertainty triggered by widespread layoffs could lead individuals to seek more control over their professional futures. Franchising may appeal as a safer harbor, allowing entrepreneurs to capitalize on established brands and customer loyalty that come with a franchise. However, the success of potential franchisees also heavily depends on the economic environment and access to financing. During economic downturns, securing loans and other financing options can be more challenging, potentially stifling the growth of franchising despite the increased interest.

Sectorial Expansion and Diversification

Traditionally, sectors like fast food, retail, and hospitality have dominated the franchising landscape. However, current trends could shift this dynamic. Emerging fields such as health, wellness, and technology are ripe for franchising opportunities, potentially attracting a more diverse group of entrepreneurs. This diversification can broaden the appeal of franchising, moving it beyond consumer-facing retail to services that are more specialized and knowledge-intensive.

Challenges and Considerations

While the prospect of a franchising boom is compelling, it is not without challenges. Prospective franchisees must conduct thorough due diligence, understanding both the risks and rewards. The success rate of franchises, while generally favorable, varies widely by sector and individual business acumen. Additionally, the franchising model itself may evolve in response to economic pressures and changing consumer behaviors, which could alter the landscape significantly. Key forecasts of the 2024 Franchising Outlook Report by the International Franchise Association include:

  • The number of franchise establishments will increase by more than 15,000 units, or 1.9%, to 821,000 units. This growth will be supported, in part, by lower interest rates for higher ownership affordability and increased investment from private equity firms.
  • Franchising is expected to add approximately 221,000 jobs in 2024. As overall U.S. unemployment is forecast to average 4.1%, higher than 2023’s unemployment rate of 3.7%, FRANdata forecasts employment to grow by 2.6%, down 0.3% in year-over-year comparisons.
  • Total franchise output will increase by 4.1%, from $858.5 billion in 2023 to $893.9 billion in 2024.
  • Franchises’ GDP will continue to grow, increasing at a pace of 4.3% to $545.8 billion.
  • Personal services and quick service restaurants (QSRs) will experience higher growth than other industries.
  • Growth in the Southeast and Southwest will outpace the rest of the U.S. franchise market in 2024.

While the trend of corporate layoffs might catalyze interest in franchising as a fallback career path, its success will hinge on several factors, including the economic climate, financing availability, and the ability to adapt to new market realities. Aspiring entrepreneurs should weigh these factors and review the IFA’s report carefully when considering franchising as a viable route to business ownership and financial independence.

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

About Acceler8Success

Acceler8Success is a dynamic consulting firm that specializes in franchise development, business coaching, and professional growth strategies. Tailored to meet the unique needs of each client, the firm offers a range of services designed to enhance operational efficiency and promote business expansion. These services include franchise development, strategic planning, and consulting for existing franchise networks.

Additionally, Acceler8Success provides personalized business coaching to develop leadership skills, improve management practices, and boost overall performance through workshops and one-on-one sessions. The firm also facilitates networking through regular events, webinars, and seminars, creating opportunities for collaboration and strategic partnerships. Committed to delivering measurable results, Acceler8Success focuses on empowering entrepreneurs and business leaders with the tools, education, and mentorship needed to achieve and sustain success. Learn more at Acceler8Success.com.

Partners in Progress: Patriotism & Entrepreneurship

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Patriotism and entrepreneurship, though different in nature, are deeply intertwined, especially in the context of economic recovery and growth. From an entrepreneur’s perspective, these two ideals are intrinsically linked, each reinforcing and supporting the other.

At the heart of patriotism lies a profound love and commitment to one’s country, a sentiment that resonates strongly with entrepreneurs, particularly those running small businesses. These ventures go beyond profit; they represent a dedication to the welfare of the society and the nation. Entrepreneurs are often driven by a desire to solve local problems, create jobs, and improve the quality of life in their communities, a form of patriotism in its own right.

In challenging economic times, such as recessions or post-crisis periods, entrepreneurs and small businesses play a pivotal role. They act as catalysts for economic rejuvenation, displaying agility and responsiveness that large corporations often lack. This ability to adapt and innovate is critical during recovery, where traditional economic models may falter.

Entrepreneurs also embody the patriotic ideal of self-reliance. Building a business requires independence and confidence, reflecting the ethos of a strong, self-sufficient nation. This mindset contributes to a resilient national economy, bolstering the country’s capacity to withstand and recover from economic challenges.

The relationship between patriotism and entrepreneurship also shapes a nation’s identity. Successful local businesses become symbols of national pride, showcasing the innovation and entrepreneurial spirit of a country. They reinforce the narrative of a nation that values creativity, hard work, and perseverance.

Entrepreneurs rooted in their communities often reinvest in the local economy. This reinvestment isn’t merely financial; it includes job creation, nurturing local talent, and supporting community projects. Such actions demonstrate a patriotic desire to uplift and improve the nation from the grassroots level.

The interplay between patriotism and entrepreneurship, particularly in small businesses, is fundamental in driving economic recovery and building a resilient economy. Entrepreneurs, in their pursuit of innovation and community development, are not just contributing to the economy but are also advancing the overall well-being and progress of their nation, making them invaluable in times of prosperity and recovery alike.

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

Weekly Review April 24-30

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With so much going on at Acceler8Success Cafe I know it’s easy to miss a newsletter or two, or possibly our Question of the Week slipped by without you noticing, or an announcement we may have made just seemingly got lost amongst the busy news feed. Well, just like an experience at your local cafe, I really want Acceler8Success Cafe to be conveniently located when you desire or need to relax, enjoy a cup of coffee, and catch up on some reading.

Okay, I may be going bit far with this, but my goal is for Acceler8Success Cafe to be your virtual cafe. A place where you may frequently visit to enjoy a few minutes to yourself. I’d like the experience to be memorable by providing learning opportunities, by presenting a different perspective & insight, by spurring thought & reflection, by encouraging interaction, and by spotlighting topics that, frankly, may not be as front and center as they should or need to be.

To that end, Acceler8Success Cafe is open for business daily, seven days a week. For the benefit of current & aspiring entrepreneurs, our daily newsletter will be delivered each morning. Our Question of the Week along with an occasional announcement will be delivered at various times throughout the week.

As a way to jumpstart the week ahead, we also will deliver a weekly review each Sunday morning which will include articles you might have missed during the previous week. My goal is to provide an opportunity to begin the new week with information and ideas that possibly could accelerate your success.

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Conquering Fear “You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, ‘I have lived through this horror. I can take the next thing that comes along.’ You must do the thing you think you cannot do.” – Eleanor Roosevelt

3 Steps Ahead of Business Ownership Whether doing so as an independent business or as a franchise there are important initial steps to take to ensure that business ownership is practical and feasible. Due diligence is essential in order to make the right decision – one that will go a long way toward minimizing risk of failure.

Sorry. Your Application Has Been Rejected! Despite being financially qualified and with a proven track record of success, is it possible for franchise candidates to be rejected for not being a “right fit” for a brand?

What role will entrepreneurs play in the economy over the next 5-10 years? This is our Question of the Week. As such, I’d really appreciate your feedback. So please, share your comments, insight and perspective in the comments section below. But first, let’s see if I can spur some thought.

Vision to Reality: A Deliberate Journey A deliberate approach led to the creation of the Acceler8Success mantra that is often seen alongside a black panther whose approach in getting to its goal is nothing less than deliberate.

Maintaining Work Life Balance Here’s to a great weekend and a productive stress-free week ahead. Please share this with others as there are far too many that have a difficult time managing stress and especially so during what are seemingly uncertain times.

Are you ready for National Small Business Week May 1-7, 2022?

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As we prepare to celebrate National Small Business Week 2022, it’s the perfect time to announce the new franchise & business opportunity platform by Acceler8Success Group. In its final stages of development, I anticipate an official introduction within the next 7-10 days.

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“You must take personal responsibility. You cannot change the circumstances, the seasons, or the wind, but you can change yourself. That is something you have charge of.” – Jim Rohn

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Acceler8Success Cafe Small Business Weekly

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Small Business Weekly

Are You an Entrepreneur? The Answer Might Surprise You! (credit: addicted2success.com)

They don’t wait to be told what to do, or for conditions to be perfect, or to be handed the resources they need on a platter. In the spirit of a famous slogan, they just go out and do it. End of story. Sounds simple, right? But it’s not an easy process by any means.

It’s this kind of spirit that sees success as inevitable after hundreds of failures, rejections and setbacks. It’s this kind of spirit that enables the entrepreneur to pick themselves up off the floor, dust themselves off, and start all over again, even where the outcome is uncertain. It’s this kind of spirit that can hold a dream in perfect suspension in the imagination, believing in it even in the face of all odds, until the day it’s there in solid reality.

And the best part? You don’t even have to be building your own business to have entrepreneurial spirit. You can be working to transform a business – someone else’s business, or even the ‘business’ of a non-profit, university or government. This is called being an intrepreneur.

Admittedly this can be extremely challenging. You often won’t have control over all the resources you need. However, don’t forget our definition! Entrepreneurs progress with determination towards their goals despite not having the resources under their control. That’s the entrepreneurial way.

Read more HERE.

4 Keys to Growing Yourself as an Entrepreneur (credit: startupmindset.com)

If you are considering the entrepreneurial journey, then you may have already weighed many of the pros and cons in taking on this new venture. From the financial aspect and its commitment, to the hours of hard work and personal time sacrificed, to finally the personnel and logistics that goes into a company, the entrepreneur’s path is not an easy one.

However, what’s the fun in taking the easy path in life all the time? Entrepreneurship is a challenge, one that can be daunting due to the weight of its expectations in the final result being a success for both yourself and the people you serve and employ. Regardless of all the scare tactics one can tell themselves when thinking of becoming an entrepreneur, there is so much more this journey offers than just a monetary benefit.

Becoming an entrepreneur is not just about the hard work you put into opening a business, but also about the personal growth one endures as well. The path of entrepreneurship is one that can test an individual in many ways, but ultimately, teaches invaluable life lessons that can’t be taught in a classroom or at a seminar.

Here are some examples where becoming an entrepreneur can grow a person in ways that one never thought possible, and why experience is so crucial in becoming a better leader and boss.

Read more HERE.

Ready or Not: My Experience Launching a Side Hustle in 121 Days (credit: success.com)

The handwritten check arrived in a plain envelope. I signed and deposited it right away. Normally I would have then shredded it. But not this one. I’m saving this one.

It’s from my friend Fred “Honey Pot” Williams, a 61-year-old gastroenterologist and beekeeper, and it’s the first revenue from a side hustle I started with another friend, the first check I’ve gotten since graduating college for producing anything other than words. It feels like the first check of the rest of my life.

That’s certainly an overstatement. But I’m excited to stretch out into something new and for conceiving, planning and executing the first product: an adventure I dreamed up called 50-50-50 in which Honey Pot, eight others and I hiked 50 miles, biked 50 miles and canoed 50 miles, all in one five-day weekend. The 50s were a hook to celebrate my 50th birthday and just happened to form a great marketing shtick for an adventure trip. 

I’ve had a thousand half-baked side hustle ideas; this is the first one I’ve allowed to cook until it was edible. The difference between all those half-baked ideas and this delicious one is simple: passion. I wanted, needed, had to try this one. 

Life’s too short to pursue things you don’t love. If you’ve got that idea—that challenging, exciting, can’t-get-it-out-of-your-head-idea—I urge you to stop thinking about it, stop daydreaming about it, and start doing it. 

Maybe you can learn from my journey. Here’s how it went.

Read more HERE.

Have a great week. Make it happen. Make it count!

Learn about Acceler8Success Group services & resources for current and aspiring entrepreneurs by visiting our website at Acceler8Success.com.

Acceler8Success Cafe Small Business Weekly

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Small Business Weekly is the weekly edition of Acceler8Success Cafe newsletter on LinkedIn. Moving forward, the newsletter will transition from a weekly to a daily publication. It will then be shared here on Acceler8Success Cafe blog for the benefit of our subscribers. We certainly do not want to leave our loyal followers behind. If you like what you see upon previewing this new content, please take a few minutes to subscribe so the blog will be in your email each morning. If you would, please also share with your friends & colleagues. It’d be greatly appreciated. Thank you.

Small Business Weekly

Number of Women in Franchising Has Grown Each Year Since 2016 (credit: 1851franchise.com)

There has never been a better time to be a woman business owner. 

For Women’s History Month, Franchise500’s Jeff Cheatham offered a look at the impressive strides females have made in the franchising industry, which indicates a promising future for women in the industry. 

First, Cheatham looked at how much the rate of women-owned businesses has grown in the last half-century. The U.S. Census Bureau started keeping records of female entrepreneurs in 1972, when just 400,000 companies were women-owned. Today’s statistics show over 13 million businesses owned by women, a staggering 3,150% increase. Women now account for about one-third of small business owners and franchisees, Guidant Financial reports.

When it comes to interest in franchise ownership, women are currently outnumbering men in exploring possible investments, Franchise Insights reports. And that trend shows no sign of slowing; the number of women becoming franchisees has risen steadily for the last five years.

About 33% of all female business owners and franchisees have been running their operations for more than a decade, the Guidant Financial data shows.

As gas prices rise, small business owners slam Biden’s ‘shortsighted’ energy policies: ‘Out of touch’ (credit:foxbusiness.com)

The pressure that the coronavirus pandemic put on small business, coupled with the historic inflation and spiking gas prices as the Russia-Ukraine war wages and relative inaction by the Biden administration, is creating a rapidly deteriorating situation for small business owners and operators.

Gas prices have reached historic levels amid soaring inflation in the wake of the pandemic and Russia’s war on Ukraine. In an effort to combat soaring gas prices, the Biden administration has already released tens of millions of barrels of oil from the Strategic Petroleum Reserve, but it has not been enough to have an impact. Meanwhile, the administration’s ban on Russian energy imports further tightened supply.

Some of the hardest hit have been small business across the U.S., who told Fox News Digital that they are struggling to keep their doors open and are demanding the Biden administration take immediate action to help them.

Read more HERE.

Funding Your Business Dreams at Benetrends

Get fast, economical, custom funding and realize your small business or startup dreams with help from Benetrends Financial. Our experts provide an innovative approach to help you achieve the ideal funding you need to get your ideas off the ground for long-term entrepreneurial success!

From unemployment to entrepreneurship (credit: yourstory.com)

Over a million Indians move to the US each year, but finding a job can be a tough task. Priyanka Botny found herself in such a situation. 

Unwilling to give up, she decided on becoming an immigrant entrepreneur and started Playonomics — an online experiential learning platform for employees to improve their emotional intelligence. 

Priyanka says often focusing on IT infrastructure takes away attention from employee wellbeing. “We help in bringing that intelligence to build emotional skills, along with digital transformation at organisations,” Priyanka explains. 

The startup focuses on decision-making and using human emotions to further digital transformation. 

Read more HERE.

Fast Food and Quick Service Restaurant Market Development, Trends, Demand and Forecast Till 2022-2027 (credit: marioniniversitysabre.com)

According to IMARC Group’s latest report, titled “Fast Food and Quick Service Restaurant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 232.3 Billion in 2021. Fast food and quick service restaurants (QSRs) serve fast foods that are cooked and packed in advance. They are commonly a part of a franchise or a food chain, wherein standardized ingredients are available for food preparation. These types of restaurants have minimal table service and generally offer takeaway options. Some of the widely available foods and beverages in these restaurants include pizza, pasta, soft drinks, coffee, tea, juices and burgers.

The global market is primarily driven by significant growth in the food and beverages industry. Along with this, the inflating disposable incomes, changing dietary patterns and the shifting lifestyle preferences of the masses are creating a positive outlook for the market. Additionally, the hectic schedules and busy lifestyles led by the working professionals have resulted in a rise in the consumption of on-the-go food items, thereby providing an impetus to the market growth. Some of the other factors contributing to the market growth include the increasing penetration of social media, easy food availability via online delivery options and innovative marketing strategies adopted by numerous players. Looking forward, IMARC Group expects the global fast food and quick service restaurant market to reach US$ 308 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027.

Read more HERE.

Have a great week. Make it happen. Make it count!

Learn about Acceler8Success Group services & resources for current and aspiring entrepreneurs by visiting our website at Acceler8Success.com.

Acceler8Success Cafe Daily Thursday 10.29.20

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Every Company Needs an Entrepreneur in the C-Suite

Innovation thrives when it has power and status within an organization. To enable real innovative growth — and rapid response in the face of such crises such as Covid-19 — boards and company leaders must structure top organizational roles to give innovative efforts the resources and attention they need. In our work on business model innovation with over 100 large and medium-sized companies, we’ve found that companies looking for transformation have two good options: an entrepreneurial CEO or a powerful chief entrepreneur. Read more here.

7 Entrepreneurship Stages Will Propel You to Where You Need to Go

The road to becoming an entrepreneur is a journey, and it’s not a short trip. In my efforts to assist aspiring business owners like you, I find that too many see it as a short sprint to get over that one hurdle, like finding that innovative idea, or attracting an investor. In reality, I find that there are multiple stages to the process, each requiring a unique mindset and focused effort along the way. I was pleased to find a new book, The Entrepreneur’s Faces, by Johnathan Littman and Susanna Camp, which outlines the key stages and provides examples of real people making the transformation from one stage to the next. Read more here.

If you wouldn’t think about building a house without blueprints, why would you consider building a business without blueprints? Like plans for a home, business blueprints should include each component necessary for long-term benefit. Whether exploring franchise ownership or growing your brand via franchising, Franchise Foundry can help ensure you have the right blueprints specifically for you! Learn more here.

What Restaurant Sectors Thrived During The Pandemic?

Why did some restaurant chains sales thrive so quickly after the pandemic?

This week’s episode of the Restaurant Business podcast “A Deeper Dive” features Lorn Davis, who leads corporate and product strategy at the financial data firm Facteus. The company has been reporting sales using debit card information since the start of the pandemic, and its weekly reports have provided some key insights into the direction of retail and restaurant spending. Davis discusses some of the sectors performing particularly well, such as chicken wings, and those that have a longer runway for improvement, like coffee. He talks about the factors that have influenced the sectors’ success and failure, and he discusses how consumers have changed since the start of the pandemic—and how much of that change could be permanent. Listen to podcast here.

Jersey Mike’s Subs CEO Peter Cancro to join MFHA President Gerry Fernandez to talk about the path to Black restaurant franchise ownership

Peter Cancro, CEO of Jersey Mike’s Subs will be a keynote speaker at Restaurants Rise powered by MUFSO on its final day, Thursday, Oct. 29, at 3 p.m. EDT, in discussion on the path to Black franchise ownership, brought to you by PepsiCo Foodservice.

Cancro will be joined by Karim Webb, CEO of 4thMVMT and co-founder of PCF Restaurant Management — a franchisee of Buffalo Wild Wings — and Hugh Roth, senior vice president and chief customer and business development officer for PepsiCo’s Global Foodservice Division. The panel will be moderated by Gerry Fernandez, president and founder of the Multicultural Foodservice Hospitality Alliance (MFHA). TIME SENSITIVE: Read more here.

5 Best Business Ideas for 2021

The COVID-19 pandemic presented a flurry of challenges, from finding small business funding, short-term business closures, quarantines, and mask-wearing to sharp declines in storefront traffic and more.  So there is no doubt that many entrepreneurs threw in the towel this year. Despite all of this, the data shows that 2021 will be a great time to go into business for yourself. Let’s take a look at some trends shaping new businesses next year and five of the best entrepreneurial ideas for capitalizing on them. If you’re considering starting a small business in 2021, there are some trends to consider before making your plan. Read more here.

As Small Business Saturday is just around the corner please keep in mind that franchises are also small business. Franchise owners are very much the same as Mom & Pop businesses across America having invested their life savings to achieve the American Dream of owning a business. #ShopSmall and #ShopFranchise on #SmallBusinessSaturday.