Read the 2020 Industry Resources Toolkit by clicking here.
Though they may seem few and far between, there are stories of success and new beginnings in this year when the unthinkable has become the new reality. Count the saga of Norm and Kathy Golm among those happy-ending stories. The Versailles couple – Norm is 56 and Kathy is 58 – recently became franchise owners with Floor Coverings International, visiting customers’ homes in a Mobile Flooring Showroom stocked with thousands of flooring samples from top manufacturers.
Registration Now Open for Free Virtual Event Featuring Conversations with Industry Trailblazers and Dynamic Leaders in Business
Franchise-focused growth equity firm Franworth® and Thryv, Inc. the provider of Thryv software, the fully integrated, end-to-end client experience platform for small businesses, announced today registration is now open for the REACH Mentoring and Leadership Event, taking place on October 21 from 9:00 am-12:00 pm EST.
Read the 2020 Marketing, Operations & Development Toolkit by clicking here.
Submit a Nomination.
A "How To" for Franchises to Handle Property and Casualty Insurance Purchases Over the Next Couple of Quarters
For franchises and other businesses, it's time to dust off your "reduce the risk" hat for a while because insurance rates across the board are going to go up in price. Insurance companies are among the many industries that have had a tough 2020 and the two things that drive rates hit insurers hard this year — claims and capacity. Franchisees and franchisors will have to demonstrate to insurance providers that you are genuinely wanting to have fewer claims and run a tight ship to keep rates manageable.
The best advice that Shake Shack founder Danny Meyer ever received came from his grandfather: “Stop complaining about problems. ‘Problems’ is the definition of business.” Thanks to COVID-19, the definition of “problems” for franchise brands has now been amplified to a previously unimaginable degree.
Franchise business leaders often describe certain industries, such as healthcare, as being “sustainable” during an economic downturn. By “sustainable,” they mean something that possesses staying power. A sustainable business is something that is and remains relevant and necessary.
Business leaders consider healthcare franchises sustainable because there is always a need for good health.