Tips for Franchise Business Owners Facing Pandemic Restrictions
As the pandemic restrictions press into its eighth month, small businesses are feeling the squeeze the most. There has been a 22% reduction in business activity nationwide (NBER), that’s 3.3 million inactive American business, some of which have closed permanently due to COVID-19 restrictions and the economic fallout that followed. And according to estimates from…
Force Majeure, Bankruptcy and Rent Relief During the COVID Pandemic
In what is probably an unprecedented decision, the United States Bankruptcy Court for the Northern District of Illinois has ruled that governmental shutdowns and restrictions imposed to curb the spread of COVID-19 could be considered a Force Majeure event and give business a valid reason to suspend contractual obligations during the pandemic. On June 3,…
How To Build Business Relationships For Your Franchise
When most franchisees think about running a successful business, they think of controlling expenses, increasing revenue, and maximizing profits. But there’s another side to running a successful business—building important business relationships. If you want to have a long-term, sustainable and financially successful business, you must nurture your most important relationships. Business Relationship Types Customers. Your…
Mastering Your Personal Budget
When many people think about budgets they only think in terms of trying to keep their spending down and maybe save a few dollars for a rainy day. But budgets aren’t just about controlling your spending, they’re about creating a master plan for your spending and your financial life. Leveraged correctly, a personal budget can…
Don’t Let Financial Stress Bog You Down, Take Action Now
Financial stress can threaten the mental and physical well-being of anyone, even someone who is usually frugal and financially conscientious. Not all financial stress comes from money mismanagement. Medical emergencies, unforeseen market changes, political shifts and other unpredictable and uncontrollable events could also serve as the root of a financial crisis causing you stress. But…