The Rawls Group — page 4

Franchise owners discuss building trust in communications and actions during Covid-19 pandemic, leveraging strategic partners for support.

Multi-unit franchisees can control and create change by implementing a strong culture in their locations, despite the challenges of the pandemic.

Effective teamwork and management synergy are crucial for running a productive and strong-performing multi-unit franchise operation, especially during a global pandemic like COVID-19.

Succession planning takes at least five years to groom a successor.

A multi-unit franchisee shared recommendations for finding success through transition, emphasizing the importance of succession planning.

Multi-unit franchisees face unique challenges during the pandemic, including differing timelines and guidelines for reopening and added stressors for family businesses.

Business owners can plan for the other side of the pandemic by communicating with staff, providing continued encouragement, and adapting to new procedures and services.

The article discusses planning for the other side of a pandemic, but does not specifically relate to a franchise or multi-unit brand.

Conflict is inevitable in life, but can be navigated with effective communication and empathy.

Effective communication is crucial in family businesses during a crisis like COVID-19, requiring work from all parties involved to manage emotions and avoid conflict.

Franchise leaders use the OODA Loop to lead in crisis.

Business owners should view the COVID-19 crisis as an opportunity to support their employees and customers, providing reassurance and calm during uncertain times.

Defining the members of your business family can be difficult--especially when considering the idea that members of your "business family" include anyone you do business with for reasons other than just to make money.

Franchise business partnerships require clear structures to protect both the business and the family, including defining issues that require more than 51% of the vote.

Business structures and agreements have a huge influence on taxation, ownership control, transfer on gifts and estates, and shareholder access to cash flow.

Multi-unit franchise owners prioritize business performance metrics for succession planning.

We hear it all the time. Multi-unit franchise owners don’t engage in succession planning because they are far from ready to plan for their exit.

Five key questions help determine if a business is moving in the right direction, considering factors such as people, product, and customer service.

Franchise owners know what motivated them to get into business in the first place.

Top performers make up less than ten percent of employees in organizations.

Multi-unit franchise owners consider succession planning as they look forward to the new year.

Succession planning is not solely about exiting or retiring, but about building a foundation of success today which will set the course for future generations.

Curt DiPasqua, a Subway franchisee, is planning for succession and considering options for his children and brother to join the family business.

Multi-unit franchisee owners build business value and plan for unexpected events.