Positioning Your Business Effectively for NextGen Talent and Buyers

By: Kendall Rawls | 10,700 Reads | 12 Shares

%3Cp%3EThe+franchise+industry+continues+to+see+change+in+many+areas+impacting+the+operations+and+growth+of+the+multi-unit+franchisee+business.+We+heard+more+about+change+and+what+the+future+looks+like+at+the+2018+Annual+Multi-Unit+Franchising+Conference+%282018+MUFC%29+last+week.+The+conference%26rsquo%3Bs+agenda+revealed+growth+and+next+generation+were+two+hot+topics.%3C%2Fp%3E%0D%0A%3Cp%3EWe+have+heard+and+seen+the+impacts+of+NextGen+on+recruiting+and+retention+of+talent+and+developing+future+leaders.+In+fact%2C+at+the+2018+MUFC+last+week+there+were+sessions+specifically+focused+in+these+areas.+On+Monday+the+agenda+was+packed+with+sessions+around+developing+future+leaders%3A%3C%2Fp%3E%0D%0A%3Cul%3E%0D%0A%3Cli%3EDeveloping+Multi-Unit+Leaders%3C%2Fli%3E%0D%0A%3Cli%3EDevelop+Leaders+to+Support+Your+Growing+Enterprise%3C%2Fli%3E%0D%0A%3Cli%3EGrowing+from+Management+to+Leadership%3C%2Fli%3E%0D%0A%3Cli%3EPreparing+for+Second+Generation+Franchisees%3C%2Fli%3E%0D%0A%3C%2Ful%3E%0D%0A%3Cp%3EOn+Tuesday%2C+the+agenda+continued+with+sessions+on+recruiting+and+retaining+for+your+franchise%3A%3C%2Fp%3E%0D%0A%3Cul%3E%0D%0A%3Cli%3EAttract+%26amp%3B+Recruit+the+Best+Talent+for+Your+Franchises%3C%2Fli%3E%0D%0A%3Cli%3ERetain+and+Grow+the+Best+Talent+for+Your+Franchises%3C%2Fli%3E%0D%0A%3C%2Ful%3E%0D%0A%3Cp%3EIf+you+did+not+attend+any+of+these+sessions%2C+you+may+want+to+connect+with+the+panelists+or+look+into+watching+the+recordings+as+these+topics+are+key+areas+impacting+value%2C+growth%2C+and+ongoing+business+success+no+matter+what+your+plans+are+for+the+future+%26ndash%3B+keep%2C+transfer%2C+or+sell.+Strong+leadership+and+leadership+bench+strength+is+critical+for+thinking+outside+the+box+to+push+the+needle%2C+inspire%2C+and+motivate+your+team+towards+peak+performance.%3C%2Fp%3E%0D%0A%3Cp%3EThe+NextGen+is+also+impacting+consumer+buying+behavior%2C+which+in+turn+influences+how+a+franchisee+brings+their+products+and+services+to+the+market.+For+example%2C+studies+are+showing+convenience+and+consistency+are+key+motivators+for+NextGen+buyers.+Also%2C+it+is+no+secret+that+technology+innovations+are+forcing+a+change+to+the+way+the+new+generation+of+consumers+interact+with+different+brands.+In+addition%2C+technology+is+also+a+force+in+how+the+NextGen+communicates+about+their+experience+at+your+stores.+From+reviews+and+sharing+of+experiences+through+their+networks%2C+your+reputation+for+service%2C+selection%2C+convenience%2C+and+consistency+are+driving+factors+impacting+buying+decisions.%3C%2Fp%3E%0D%0A%3Cp%3EThe+NextGen+buyers+are+far+more+apt+to+shop%2C+buy%2C+and+communicate+via+an+app+on+their+smart+device.+The+reason+for+this+is+that+as+a+consumer%2C+they+have+more+control+over+what+they+are+ordering%2C+resulting+in+less+order+error+or+mistakes+upon+receipt+of+their+order.+As+a+franchisee%2C+as+you+look+to+the+future+and+different+brands+to+invest+in%2C+something+to+think+about+is+how+is+the+franchisor+positioning+the+products+or+services+to+the+NextGen+buyer.+Are+they+providing+you+the+opportunity+to+be+a+convenient+and+a+consistent+option%3F%3C%2Fp%3E%0D%0A%3Cp%3ELooking+at+the+NextGen+is+just+one+area+in+which+the+industry+is+facing+dynamic+and+rapid+change.+We+are+also+seeing+a+lot+of+consolidation%2C+which+means+as+a+franchisee%2C+there+is+no+better+time+than+now+to+look+at+your+strategic+plan.+Interestingly%2C+even+with+the+amount+of+consolidation+we+are+seeing%2C+we+are+seeing+large+numbers+of+new+franchise+opportunities+coming+to+market.+Both+of+these+also+will+be+impacted+by+the+growing+segment+of+NextGen+coming+forward%2C+not+only+as+buyers+of+your+product+or+service%2C+but+as+franchise+owners%2C+too.+For+more+insights+into+these+and+other+trends%2C+%3Ca+href%3D%22http%3A%2F%2Fseekingsuccession.com%2Findex.php%2Feasyblog%2Fsuccession-blog%2Fwebcast-franchising-in-the-future%22+target%3D%22_blank%22+rel%3D%22noopener%22%3Ehere+is+a+webinar%3C%2Fa%3E+that+provides+more+information+on+the+future+of+our+industry.+Although+it+focuses+on+the+franchise+restaurant+sector%2C+the+trends+emerging+impact+the+industry+as+a+whole.%3C%2Fp%3E%0D%0A%3Cp+style%3D%22border-top%3A+3px+solid+%23DDDDDD%3B%22%3E%3Cem%3E%3Cstrong%3EKendall+Rawls%3C%2Fstrong%3E+knows+and+understands+the+challenges+that+impact+the+success+of+an+entrepreneurial+owned+business.+Her+unique+perspective+comes+not+only+from+her+educational+background%3B+but%2C+more+importantly%2C+from+her+experience+as+a+second-generation+family+member+employee+of+The+Rawls+Group+-+Business+Succession+Planners.+For+more+information%2C+visit+%3Ca+href%3D%22http%3A%2F%2Fwww.rawlsgroup.com%22+target%3D%22_blank%22+rel%3D%22noopener%22%3Ewww.rawlsgroup.com%3C%2Fa%3E+or+email+%3Ca+href%3D%22mailto%3Ainfo%40rawlsgroup.com%3Fsubject%3D%22+target%3D%22_blank%22+rel%3D%22noopener%22%3Einfo%40rawlsgroup.com%3C%2Fa%3E.%3C%2Fem%3E%3C%2Fp%3E

Published: April 11th, 2018