In the past, brands have typically expanded overseas through a master franchising model, but direct multi-unit franchising is gaining some momentum, writes Michael Seid, CFE, of MSA Worldwide. "Before selecting the method to use, financial modeling based on careful analysis must be conducted," he notes.
Wendy's has teamed with Beef Marketing Group's Progressive Beef program to start sourcing its meat more sustainably, the company said. At least half of the chain's beef supply will be produced under the program's certification requirements by 2021.
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Personalize employee gifts by asking each person about professional-development goals, Julie Winkle Giulioni writes. You could then help employees create individual plans for learning, offer opportunities to gain experience within the company or budget a development plan of their choosing, she writes.
You'll have stronger relationships with employees by regularly meeting to discuss roles, goals and happiness instead of waiting for an annual review, writes Lolly Daskal. Ask them how you can be of assistance, whether it's through listening or helping them overcome obstacles.
Global Franchise & Supply Network Practice Polsinelli advises franchisors, licensors and dealers in mergers, acquisitions, financial restructuring and licensing transactions, developing strategies, structuring development and sales transactions, and defending against challenges to system practices and enforcement actions. Learn more
Off-premise dining will continue to be a growing trend in 2019 and quickservice and fast-casual chains that innovate to improve the takeout and delivery experience will stand out, said Tom Cook of consultancy King-Casey. Easy-to-use menu boards, investments in employee training and the addition of grab-and-go items are key.
New York and Cancun, Mexico, remain top spots for US travelers, according to Allianz Global Assistance's 2018 Top Holiday Destinations Report. It also says travel is up by 15% this holiday season over 2017.
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News from IFA
How is your franchise giving back?
Many franchises are doing their part to support local communities during the holidays through programs like the IFA Foundation's Franchising Gives Back. IFA President and CEO Robert Cresanti, CFE, highlights efforts of three brands -- Always Best Care, Carvel and The Cleaning Authority -- and explains why you should prioritize community outreach. Read Cresanti's Corner.
2019 CFE Special Sessions: Reserve your spot now
Have you signed up yet for the 2019 CFE Special Sessions from the Institute of Certified Franchise Executives? Start or continue your franchise certification on Feb. 23-24 at the start of IFA 2019. Learn more.
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IFA President and CEO Robert Cresanti, CFE, was named to The Hill's Top Lobbyists 2018 list. The people on the list are "known for their ability to successfully navigate the byzantine and competitive world of federal policymaking," The Hill notes.
Disorganized financial records can create problems for a franchise, making it critical to find the right kind of expert help. For example, Mooyah Burgers, Fries & Shakes moved to a new accounting firm as the business grew, and it now receives information about new accounting rules well ahead of time.