Kendall Rawls — page 5

Family businesses face unique challenges during the holidays, requiring effective interaction and communication to maintain harmony and trust.

Strategic planning is essential for business growth, and multi-unit franchisees often do a solid job in planning at the beginning of the business.

Franchise succession planning is emphasized during uncertain times, with experts discussing the new normal for businesses in a recent conversation.

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.

Franchise leaders use the OODA Loop to lead in crisis.

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.

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.

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

Multi-Unit franchisee owners set out to establish a medium for putting their passion to work, a means to make money, and to establish a legacy for the future of their families.

Franchise owners have a unique challenge in retaining key talent, with a focus on recruiting and retaining part-time and short-term workers.

Due diligence in franchise transactions should include a thorough examination of the company culture to ensure a smooth transition and long-term success.

Multi-unit franchise owners must develop leadership skills to manage daily operations and build a strong reputation in the community.

A business owner shares a personal story about dealing with unexpected challenges and the importance of being prepared for the future.

Franchise owners can build a culture where they can occasionally take a break by implementing ownership mentality and trust in their team.

The Rawls Group estimates turnover costs range between 12-40% of pre-tax income.

Growing with multiple brands can be an attractive opportunity for franchise owners, but it's essential to consider factors such as brand alignment and resource management.