When you're starting or growing a franchise, having a clear picture of your future finances isn't just helpful, it's essential. Sales and profit forecasting gives you a roadmap for your business, helps secure funding and keeps you focused on hitting the right targets. Here's how to approach it step by step. Step 1 – Start…
read moreTop tips to manage cash flow effectively as a new franchise owner. One of the biggest surprises for new franchise owners isn’t sales, marketing, or operations, it’s cash flow. Even profitable franchises can run into trouble if money in and money out isn’t carefully managed. Cash flow is simply the timing of income versus expenses.…
read moreRunning a franchise can be a rewarding business but even established operations can face cash flow challenges. Healthy cash flow is the lifeblood of any business and understanding potential pitfalls, along with how to address them, can make the difference between a struggling month and sustainable growth. Here’s how to get started: Identify the common…
read moreFor any entrepreneur planning to buy a franchise, securing the right finance is a crucial step. The good news is that lenders often view franchises as a lower-risk investment compared to independent startups, but they still have a checklist of criteria they expect to be met. Here’s what we feel are the need-to-know facts about…
read moreStarting a new franchise can be a very exciting prospect for an entrepreneur wanting to own a business which has a proven operating model. However, to achieve long-term success, a clear strategy and careful planning is needed. Whether the entrepreneur is a franchisor or a franchisee, a strong business plan is essential to achieve sustainable…
read moreThe thought of taking a sales role can send shivers down people’s spines. It is arguably the most important aspect for a business but at the same time it is probably the one area which causes sleepless nights. When you start up a business a large proportion of time will be spent solely on sales,…
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