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Coping With A Credit Downgrade, Franchise Style
Recently, we noted that small businesses do not appear to have been damaged heavily by the U.S. credit downgrade, which is great news all the way around. But what is it doing to franchises?
Small Biz Trends has a great look at the issue, one you should definitely read. Here’s a money quote:
The uncertainty that’s been created by Standard & Poor’s downgrade could make it a lot more difficult for the current crop of franchise candidates to pull the trigger and become franchise owners. They may actually decide to skip franchise business ownership altogether, and make the fear-based decision of jumping back into the job market.
That’s a significant worry. They may not be the most high-paying jobs out there, but in a weak job market, new franchises do create jobs. Anything that spooks potential franchisees is only going to further hurt a job market that has suffered a broken nose, an ACL tear and a concussion over the last couple of years.
Let’s hope franchisees plow ahead.
Red Mango Storms The United States
Not literally, of course. It would be hard to be intimidated by a bunch of workers carrying frozen yogurt, after all.
Red Mango has been a true success story in the U.S., operating franchise locations in some 25 states. That would be unremarkable, except that Red Mango was originally started and founded in South Korea. Foreign-based franchises don’t often take off in the U.S., unless they’re British. Right-o.
In the video in the link above, owner Daniel Kim discusses how hard work, knowing your audience and a willingness to tailor your products to the market you’re reaching can make a huge difference. Check it out for some useful entrepreneurial tips.
A Guide To Productive Sick Days
Do you want to avoid falling behind on work during those days where you’re sick as a dog? BizEngine has some common sense tips for staying productive even when you’re barely feeling up to sitting at your desk.
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