New Years Resolutions for Franchisors

February is often a time for planning and reflection, as the Christmas break gives a welcome pause from the day to day for most franchisors. Before diving back into the day to day, it is worth giving fresh consideration to priorities, and new ideas. Otherwise they can be lost as the pace picks up.

Here are a few thoughts on possible priorities for 2011:

1. Position the business for sale or investment. Opportunity rarely gives much notice, and action taken to position a business for sale or investment usually has day to day benefits anyway.
2. Create or improve on a multi-unit franchise model. Franchisees are scarce, and in Australia we are too dependant on the single unit franchisee model. Competition puts financial pressure on franchisees with a single outlet, and return on investment calculations can often be improved with a multi-unit model.