Franchising is another excellent form of business expansion. Unlike when you branch out, where you have to invest in a new location, franchisees do all the work. They are highly motivated to perform well, fostering faster growth for a franchisor’s business. There are about 773,603 franchise establishments in the U.S., according to the 2019 Statista data.
Scaling Your Auto Repair Business this 2021. Here’s How to Do It. Your business might have suffered a slump last year due to the pandemic. You experienced a huge profit loss. It was a struggled to pay your bills. Some of your employees lost their job. Worst, you had to retire even your most loyal
Businesses shell out a significant amount of their regular budget to market products and services to various audiences. Marketing strategies reach out externally: tapping into markets that are potential customers to boost sales. But one often neglected strategy requires looking inside company structures, and that is paying attention to employees. Having a satisfied employee base
Many traditional food businesses have closed as a result of harsh quarantine lockdowns in many states. These businesses have failed to survive due to the lack of sales. But it wasn’t entirely their fault because no one knew this would happen. Food sales have plummeted by a staggering $240 billion, and millions of people in the
A newly launched beauty brand faces tough challenges in keeping itself distinct from competitors, especially in today’s beauty landscape. The $532-billion industry may have been, as all industries have been, adversely affected by the COVID-19 pandemic, but it has proven its resilience through the years. The pandemic has all but emphasized the race towards product
Business people and entrepreneurs often find themselves looking for better ways to grow their brands. Most of them strive for growth because it’s one of the best solutions to achieve huge milestones. With growth comes improvement, which can help them attract more clients, generate more revenue, and expand their business. Unfortunately, achieving this is not
Every person wants to be financially stable. However, being financially stable means being free from debt and managing one’s finances properly. In the world today, most people find it difficult to manage their finances because of all the expenses they need to attend to. Therefore, a lot of people end up accumulating debts to make
Running a business turns you into a professional juggler. You do many things at once. And for you not to lose focus and momentum, you need specific skill sets. One of the top requirements that a leader needs to shepherd his or her team toward success is unrivaled communication skills. It is safe to say that
With every successful product comes an equally successful marketing campaign. After all, many customer’s first interactions with a brand or a company are through their ad campaigns. The importance of good marketing for a business to succeed cannot be underestimated: it’s what makes people interested in your product, and it’s what gets people to enter
We are barely done with the first quarter of the year. That means Christmas is still months away. Still, if you are the type who likes preparing early, there is no stopping you from putting in gear your events committee. As they say, early birds catch the worm. Here the worm you are eyeing is
