There's a lot involved with running a successful franchise, and even more at play when considering growth or expansion. We created the Accounting for Growth e-news to help support franchise owners and operators. Each quarter, you'll get the latest insights as well as ideas, resources and tips from our franchise experts. We hope it helps you stay up-to-date with our franchise-focused content and understand the issues, challenges and opportunities facing this sector. Let us know what you think of this e-news! 

How to Recession Proof Your Franchise

The drumbeat of recession is getting louder every day. According to a recent article in The Wall Street Journal, two-thirds of economists at 23 major financial institutions expect the U.S. to experience an economic downturn in 2023.

If those predictions come to pass, are you and your franchise ready to weather the storm? To find out, we can adapt a common medical test and apply it to the business world to look for clues.

"One of the biggest issues I see is franchise owners spreading themselves too thin. Instead of focusing on short term, daily to-do lists, focus on longer-term goals: raising your franchise's profile with a marketing push or opening additional locations. See the tip below for one way to create bandwidth for planning!"

- Tina Heinnickel, Client Service Manager 

The easiest way for franchise owners to focus on growth is to outsource. Accounting and financial management, which take a lot of time each month, are two of the best places to start. After all, an accurate financial picture is vital to your franchise's success. Let us help.

Franchise Benchmarking: Where to Start,
What to Track and How it Affects Growth

Management guru Peter Drucker is famous for proclaiming, “You can’t improve what you don’t measure.” Wise words. But to derive any benefit from that wisdom in your business, you first need to know what to measure in the first place.

Measure what’s irrelevant, and your measurements won’t matter. Try to measure too much, and you can lose sight of what’s truly important.

So how do you choose the right franchise performance metrics to track?

Questions? Feedback? Contact us.

Receive this email from a friend or colleague? Subscribe directly.

Learn more about our outsourced solutions for franchises.

Copywrited Material: All content and images used on this site are owned or licensed by RKL Virtual Management Solutions for use on this site only. Unauthorized use is prohibited.