Business Management

How to Evaluate a Franchise Investment

franchise investment

The best thing about any franchise investment is the convenience that it affords any up-and-coming business owner. For most franchise opportunities, the groundwork has already been laid, the business has been tested and improved through time, and operational requirements are easy to prepare.

However, with the sheer number of franchising opportunities abound, you need to evaluate a franchise if it’s worth your time, effort, and money. In short, choosing the best franchise requires careful assessment and evaluation in order to fit your business needs.

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How to Start a Small Restaurant

start-a-small-restaurant

There’s nothing small about putting up a small restaurant. You may be looking at a conservative startup with a limited budget, but the amount of planning and preparation needed to pull it off may overwhelm you.

If you’re eager to start a new food business at a small scale, let the following strategies lead you to succeed in your small restaurant venture.

Here are 8 Tips to consider on how to start a small restaurant business.

1. Decide on the kind of restaurant that you will run.

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4 Overlooked Business Mistakes That Could Ruin Your Franchise

Any business venture can be risky, and even though franchise programs have some built-in safety measures, some missteps still could sink your ship. Research and full preparation before opening and hard work always are essential ingredients for any successful business.

While most franchise programs offer you some classroom and onsite training, they don’t have the time to teach you everything you need to know about being a business owner. Things like managing your finances and filing your taxes you need to learn own your own. And no one is going to force you to give the attention to the day to day operations of your restaurants it needs.

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Business Owner’s Guide to Planning Growth in 2019

When you start a new business, those first few months you are focused on making sure all operations are running smoothly and attracting customers, but you need to be thinking about the future too.

You should always have a plan for growth. This is separate from your day-to-day responsibilities as a business owner. Think of it as your long term plans.

Here is a Business Owner’s Guide to Planning for Growth in 2019 to help.

Scalability of Your Business

Even before you solidify all your plans to open your business, you should already be asking if your business is scalable.

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Franchise Consulting Firm MBB Management Secures Deal to Open 7 Tony Luke’s Stores In NYC

Tony Luke's Franchising

MBB Management, the Philadelphia-based franchising consulting partner and operations manager for Tony Luke’s, has just inked a deal to open seven new Tony Luke’s franchise locations throughout New York City, Long Island and Yonkers.

Philly icon and international brand Tony Luke’s is best known for its award-winning South Philly Style cheesesteaks. Tony Luke’s has 22 stores open across the country, and has been featured in GQ Magazine, Gourmet Magazine, The New York Times, and is a member of Philadelphia Magazine’s Hall of Fame.

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How MBB Helped Chaps Pit Beef Start Franchising for Success

To franchise or not to franchise. This is a big question that restaurant owners face when they start to make a name for themselves in their original location.

Franchising is a great way to grow your brand and expand to new locations without having to do it all on your own, but unfortunately, not every successful restaurant makes a successful franchise.

MBB Management, a franchising consulting firm based in Philadelphia, works closely with a lot of fast casual restaurant businesses including Chaps Pit Beef, Tony Luke’s, and DoDo Edible Cookie Dough & Ice Cream to help them find franchising success.

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How MBB Management Helped Grow Tony Luke’s From 4 to 24

tony lukes franchising

As a premier business consulting company, MBB Management has helped many businesses reach their potential whether that means growing their one business or becoming a franchisor. One example of such success is Tony Luke’s, an iconic Philly cheesesteak brand and franchise. When Tony Luke’s came to MBB Management, they had four locations. In just a short time, MBB Management helped Tony Luke’s grow from four to twenty-four franchise locations!

How did they do it?

John Moser, founder of MBB Management, explains the core steps they follow to scaling franchise businesses like Tony Luke’s to success.

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Steps to Getting an SBA 7(a) Loan

Starting your own business is exciting, but it is also a lot of hard work and requires a lot of research to make sure you are successful. If you need a loan to help finance your new dream, then you have probably considering getting an SBA 7(a) Loan.

Getting approved for an SBA 7(a) loan from a bank has unfortunately gotten tougher over the years and many banks are wary to loan money to single business owners who do no bring in a lot of money. Here is what you need to know about the SBA loan application process to give yourself the best shot of getting a loan.

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Top 8 Qualities to Look for in a Hospitality Employee

The hospitality industry is booming so there is an increasing need for skilled hospitality employees. The customer is always the central focus for the hospitality employee so they really need to be passionate about giving the ultimate customer experience.

Finding the perfect employees can be challenging for your restaurant, hotel or resort, but there are certain qualities you should always look for. Here are the top 8 qualities to look for in a hospitality employee:

1. Total Commitment

Hospitality work can feel like a thankless job, with the long hours, hard work, and dealing with difficult customers, so you want staff who are truly committed and passionate about providing the best customer experience possible.

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9 Ways to Create a Respectful Workplace

Respect and trust are the cornerstones of any relationship, especially those relationships in the workplace. Without them, productivity and talent retention take a big hit. We all deserve to be treated with respect and dignity and when we are not, it affects our on the job performance and our motivation to excel at our job.

No one goes into creating a business with the plan to stir discontent and lack of respect among the staff, but it can easily happen when you don’t make your employee’s welfare a priority.

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How Can We Help You?

MBB has the tools and experience to set your business up for success.

Contact us to set up an introductory meeting.