Each month, Franchising World magazine sets its sights on helping you to expand your business. The April issue brings you strategies on growing your multi-unit franchise business, sharing highlights from the recent Annual Convention in New Orleans − one of IFA’s best-attended conventions – along with offering other articles filled with practical advice.
You can tap into the experience of industry leaders to get advice on diversifying your multi-unit ownership across industries, how veterans can seize multi-unit opportunities, the value of multi-unit franchisee involvement in IFA and much more. Learn these strategies from authors that include:
- Aziz Hashim, president and CEO of NRD Holdings, LLC, a multi-brand and international franchise owner and operator, as well as IFA treasurer;
- Mary Kennedy Thompson, CFE, executive vice president of The Dwyer Group, president of Mr. Rooter and past VetFran chairwoman; and
- Matthew Patinkin, a multi-unit franchisee of Auntie Anne’s Pretzels and other brands.
And return to the IFA 54th Annual Convention in a multi-page photo spread that recalls how you wisely invested your time this past February in New Orleans. You participated in educational, networking and community outreach activities, as well as awards’ recognition ceremonies.
Do your marketing efforts answer the question: “Why should I do business with you?”
While the April issue of Franchising World magazine, which focuses on multi-unit franchising, will be available soon, there’s plenty of practical advice for multi-unit franchisees elsewhere.
Are you seeking marketing guidance? The March magazine includes usable steps from AdGeo Pres. Charles Austin about the significance of utilizing the right message first. “Your franchise’s message is the foundation on which all marketing efforts are built,” writes Austin. “It sums up your value proposition − the overarching benefit you provide to your customers. A good message platform resonates with customers and potential customers and answers the question, why should I do business with you?”
Austin also recommends that multi-unit franchisees take advantage of their franchisor’s experience “whenever it is available.”
The next important step Austin offers involves measuring your marketing spend. “First, you can determine which marketing activities are most successful and redirect resources from nonperforming tactics to those that are showing strong returns. Second, when creating new campaigns, you can draw upon previously measured results to make better decisions the first time through. Third, you can use the data gleaned from marketing results to improve business operations.”
Need more details? Find the complete article here, as well as other timely articles at franchisingworld.com.
Yesterday the House of Representatives passed Rep. Todd Young’s (R-IN) Save American Workers Act, which provides relief from one of the employer mandates most harmful rules – the new definition of a full-time worker. The passage of this bill represents the first time the House of Representatives has passed legislation designed to fix the Affordable Care Act (ACA), not repeal it. Moreover, the bill has also had bi-partisan support with 18 Democrats voting ‘yes.’
Under current law, the ACA arbitrarily defines a full-time worker as one 30 hours per week. This rule dramatically raises costs by forcing employers to add part-time workers to health plans while also asking employers to pay a larger share of employee premiums.
The Congressional Budget Office (CBO) estimates that the employer mandate will lead to 2.5 million fewer full-time jobs by 2024. Moreover, a recent study by Public Opinion Strategies confirmed these fears. POS found that 31 percent of franchise and 12 percent of non-franchise businesses have already reduced worker hours, a full year before the employer mandate goes into effect.
Fortunately, by passing this legislation, the House has taken a significant step towards mitigating this consequence of the ACA. By restoring the traditional definition of 40 hours per week for full-time workers, this bill gives franchise owners greater flexibility in managing part-time employees. Employers can reward great work with more hours and employees will have more opportunities to scale up hours as they see fit.
We implore the Senate to take up this legislation. Already, Senator Joe Donnelly (D-IN) and Senator Susan Collins (R-ME) have sponsored a similar bill, the Forty Hours Is Full Time Act. This bill has 13 co-sponsors including Democratic Senator Joe Manchin (D-WV). We hope these Senators can work with their colleagues to move us beyond temporary delays and towards real relief for small businesses so that they can continue to grow and create jobs.
An easy flow of information makes it possible for you to get insights from your peers on specific areas of interests to you about your franchise business on the device of your choice. It’s simple to share your views with other franchise industry colleagues using FranSocial on issues affecting your business. IFA’s digital tools help you to stay in touch and connected to your peers. Got a question about compliance activities, the best way to recruit franchisees or mapping software? Take a look at some of the topics now being addressed in the discussion forum. They include implementing a national marketing fund, a title for your field operations role and credit and background checks. Simply log onto FranSocial to post your question or respond to one. While you’re there, you might check out the 2014 Annual Convention photos, view the most recent blogs or review the most recent activities. It’s fast and easy to stay connected to your franchise colleagues on the IFA information superhighway via fransocial.franchise.org.
Members of the franchise industry are often encouraged to remind policymakers and journalists that the industry is extremely diverse. Many people are often surprised to learn that franchising stretches beyond the restaurant sector: from batteries to beverages, from clothing to golf equipment, from payroll services to weight control and more in between.
It should come as no surprise that the articles that Franchising World magazine readers are viewing on Franchisingworld.com shows the same variety of focus. While the magazine provides a theme each month, ongoing categories include best practices, multi-unit franchising, management & operations, international development, honoring veterans and more.
Just take a look at a few of the articles from 2014 that have garnered your interest.
- Insights: Members of IFA’s board of directors shared their insights on a variety of issues expected to affect the franchise industry this year.
- Excellence: The association’s major award winners and other honorees were celebrated for their excellence and achievements.
- Communications: Getting a better understanding of how to adapt your communications to appeal to Millennial customers was another favorite.
- Development: Getting creative with multi-brand concepts and social enterprise gave franchisors new ways to fuel development.
These and many other articles are available at a quick flick of the wrist at www.franchisingworld.com. Find out what your colleagues are writing about that you can put to use in your franchise business.