Business Management

5 Franchises that are Seeing Success During the Pandemic

franchises

Since the pandemic started many people are preferring to stay home instead of going out and spending money. It would seem that this would cause many businesses to fail, however, that has not been the case.

If you are worried about your franchise or are thinking of buying one during the pandemic, you want to be sure that you know which ones are successful right now. Remember that franchises have tried and true business models to follow, which also helps them survive in tough situations.

These are the 5 types of franchises that are seeing success during the coronavirus pandemic.

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5 Ways to Stay in Business During a Quarantine

stay in business

You may have noticed a drop in your in-store sales lately. You are not alone, one-fourth of all small business owners say that they are selling 42% less than before. Keeping your customers’ attention can be hard when they are stuck at home.

Fortunately, there are steps you can take to stay in business during the quarantine. Here are 5 easy measures you can take today!

1. Stay Connected Online

One of the best steps to take to stay in business is to reach your audience online.

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5 Reasons You Should Consider A Business Management Consultant in 2020

business management consultant

With the onset of a new decade upon us, it’s more important than ever to have the best tools, the best product and the best help available, regardless of what business you’re in.  One of the most important aspects of having the best help possible is one that is often overlooked.  Counsel and guidance are often worth their weight in gold and can more often than not, offer wise choices for your business that you might not have thought of yourself. 

It’s for this reason that a business management consultant should be on everyone’s minds in 2020.  The world is changing, as it always has, and business needs to change with it, or risk stagnation.  In the coming year, you’re going to want some guidance to navigate that ever-changing world and the best guidance there is can often be found with a consultant. 

You might be wondering at current trends, and how consulting agencies are supposed to be on the downtick, and you’re right to consider that as a factor, but the truth is that consulting isn’t headed the way of the dodo, it’s about to change  – and drastically. 

Here are just a few reasons why you’ll want to think about business consulting in the New year.

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You’re Probably Losing Money By Not Using These 7 Staff Management Techniques

staff management

It’s fairly common knowledge that the success of a business relies heavily on how well the employees perform. However, the employees can only perform well when the management uses the proper techniques to guide them.

Effective staff management techniques can make or break your staff, which can improve or ruin your business as a result. Thankfully, there are several ways that a business’ management and HR teams can improve on their management styles while also bolstering employee performance.

Staff Management Techniques You Should Implement

These techniques are meant to improve your business through your staff, no matter their position in your company.

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The Business Owner’s Guide to Business Operations

business operations

Whether you’re thinking of starting a business or you already are a business owner with an established company, you’ve probably heard the term business operations floating around. But you may not fully know what it means, and that’s alright. We’re going to discuss it with you here.

What Are Business Operations, and What do They Entail?

The original use of the term operations as it pertained to businesses came from companies that manufactured physical goods. The times have changed, though, and the definition has expanded and broadened.

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Little Known Tax Benefits of Franchising Your Business

We can all use a little help, especially when it comes to pay taxes on our business, right? Did you know that there are some small business tax dedications that you can take advantage of?

While you can’t deduct personal expenses like living and family-related expenses, for things that you use for both personal and business use, you might be able to. Here are some little known tax benefits of franchising to keep in mind.

You Can Deduct Franchise Fees

If you are a franchisee, you can deduct the fees such as the initial franchise fee and any annual residuals you pay to license your franchise unit.

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How to Buy a Business

how to buy a business

If you want to be an entrepreneur but struggle to create your own idea or would simply like some assistance in the form of a ready-made company, you can always buy a business. When you buy a business that already exists, you tend to invest more up front when it comes to money, but you also receive a ready-made business plan, as well as property and employees – depending on what you buy. If you choose to purchase a franchise, you will still need to hire your own workers and often find a place to establish the business.

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The Franchise Consulting Guide to Finding Franchise Opportunities

finding franchise opportunities

Finding a franchise opportunity can be important for the average small business owner in the restaurant and hospitality industries. Franchises allow you to be your own boss while making money through a trusted brand, earning you the automatic respect and credibility that comes with the franchise itself. Finding the right franchise opportunity, however can be difficult. To locate the best options for you, follow these simple steps.

Know Your Business and Industry

Diversifying one’s portfolio and services seems like a great idea, but many individuals interested in franchises soon find themselves over their heads because they jumped into an option that was too far out of their skill set.

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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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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.