Jul 30 2008
How Do You Keep Going When Things Look Tough?
Every business goes through its ups and downs and franchising business is no different. But here nobody is alone; franchisor and franchisees are always there to help each other to pull through. The best way to prepare for tough times is making proper plans when things are going really well. Remember the biblical story of the seven years of plenty followed by seven years of plague? That is exactly how you go about facing your tough times. Hence, when things start to slow down and business is not picking up, try these fundamentals for getting out:
1.Know where you stand: It is of utmost importance to know the exact condition of your franchising business. Always keep a note on your profit and loss and turnover per year. When you face a problem for the first time and come out of it, make a note of it. When the same problem happens [...]
Original post by mikejohns