Common Franchise Myths Debunked

The Roni Deutch Tax Center had another guest blog entry published on Franchise Business Review.com. This new article debunks a haldful of common franchise myths. If you have ever been mislead to believe that Starbucks is the worlds largest coffee franchise, or thatall chain restaurants are franchises, then you will want to check out this informative new guest blog entry.

All Chain Restaurants are Franchises

Whenever people see a chain restaurant, from Outback to Olive Garden, they always assume it is a franchised unit. However, there are two business models that these chains commonly use. The first involves selling franchises, and the other involves hiring individual store managers to run corporate owned locations. You might be surprised to learn that the following chains do not franchise: Cheesecake Factory, Lone Star Steakhouse, O Charleys, and Bob Evans.

Buying a Franchise Means Guaranteed Success

Although your odds of success are statistically higher with a franchised business, there are no guarantees. Even with a proven business concept, no business venture is without risks. Hundreds of franchised businesses do close every month, however studies show that the most common reason a franchise fails is because they do not follow the system.

It’s Wasteful to Invest in a Franchise, Just Open your own Business

All franchises have an initial fee that must be paid to open a location, and some people may view this as a waste of money. However, studies show that nearly 95% of franchised businesses remain open for at least 5 years, and 94% of franchise business owners consider themselves successful. The money you give the franchisor lets you in on a proven business model that will make your business much more likely to succeed.

Starbucks is the Worlds Largest Coffee Franchise

As we mentioned earlier, there are two business models used by large chains, and although many people assume Starbucks franchises their stores, they actually do not. The only Starbucks locations that are not corporate owned are those inside hotels and grocery stores.

Continue reading at Franchise Business Review.com…

How to Keep your Staff Motivated

The Roni Deutch Tax Center recently became a guest blogger for Franchise Business Review. The first entry discussed the most common mistakes made by prospective franchises, and now our second entry explains how to keep your staff motivated. Read a snippet of the post below or head on over to FranchiseBusinessReview.com for the full entry.

If you open a franchised business, and have never managed employees before, then you may find it difficult to keep your staff motivated. However, you need to remember that a hard working team is essential for a successful business. To help the readers of the Franchise Business Review blog who might be worried about keeping a team motivated, we have put together the following list of tips.

Employee Appreciation

Every now and then it is a good idea to do something nice to show appreciation for your team by throwing a party or social event outside of the office. Your crew will feel great to know you were thinking of them, and they will be even more impressed that you went to the effort of throwing a party to show your appreciation.

Company Charity Day

Team-building seminars and events help your staff bond and learn to work together in different situations. One way to do so is by organizing a community service day for you and your staff, as a paid day of work. Whether you plant trees or run a marathon, it will make your team see your human side, and your fun side.

Well-Deserved Promotions

You do not need to give raise to or promote an employee every time an employee does something great, but when they do go above and beyond to get a job done, it is important to show that you noticed and appreciate their hard work.

Company Lunches

Take your team out – or order in – for lunch every now and then. You can use the opportunity to throw an impromptu lunch meeting where you can get feedback and ideas from your employees in a non-formal setting.