College Students and Graduates to Run Company Outlets or Franchises
Does your overall business strategy include the recruitment of college students to run your locations? Are you a franching company and looking for young, talented, hardworking and dedicated franchisees? There are some things to think about before you deploy such a strategy. There are both positives and negatives to focusing your recruitment efforts on college students, for instance best reason's to use college students include some of the following:
They May Have Rich Parents Who Can Pay Outright For A Franchise;
They May Have Parents Who Are Willing To Co-Sign For A Franchise;
They are Young With Plenty Of Energy;
They Have Little Business Experience And Will Not Try To Rewrite Our System;
They Are Used To A Very Structured Environment;
They Want To Succeed;
They Might Have A Business Degree;
They Are Sociable Animals And Good With People;
They Will Study Our Operations Manual Cover To Cover;
They Will Make Two To Three Times As Much With A Franchise Than Their First Corporate Job;
They Love To Have Fun And This Is A Fun Job.
There are a few drawbacks to be wary of. These are things, which have been observed by me while giving speeches at colleges to MBA students. They are as follows:
They Have Been Brain Washed Into Believing Corporate America Is Where It Is At;
Many Think A Few Business Classes And They Know Everything;
Some College Students Have Never Even Had A Job;
Many Are Only 21-23 Years Old And Have Little Real World Experiences.
If you are focusing on this labor supply or recruiting these young adults into your organization as middle managers, store managers or franchisees you will need to try and turn some of these negatives into positives. First, you need to show them that by owning and managing a franchise operation, they will be more valuable to corporate America in the future. You need to show them that they will make many business contacts by running this business and have experience to put on a resume. They will meet Human Resource directors in the area and gain incite into the real world of business. If you are recruiting these kids to run store operations as a manager in charge of an outlet then you need to show them how this experience they will learn such as working directly with customers, problem solving at the counter, understanding human organizational management and learning responsibility for sales quotas and quarterly objectives at the ground level is what Corporate America really needs in their unending push for shareholders equity, quarterly profits and growth in the market place.
These students think they understand business. You will need to stroke their egos for a while and tell them how valuable they are with their education and then blow their minds with your incredible business model and customer service by showing them you are on the leading edge of high tech information systems, quality product lines, efficient distribution systems, advanced marketing techniques and state-of-the-art service equipment. They will go home and throw away their text books or have a garage sale and this is exactly what you will need to have happen and when it does you know your recruiting techniques are paying off.
Many students have never even had a job. This is good because they will not have picked up any bad habits. Perhaps you could have them work at McDonald's for three weeks. Show you us three paychecks and then we will sell them a franchise.
Most B.A. or B.S. degree students are only 21-23 years old. They have no real world experience. They believe that with their degree they can change the world, that they can make a difference. You will be saving them from themselves, letting them learn how the world really works. Then maybe they can change the local world a little. These kids get out of school and they are so idealistic. They are trying to think globally with visions of grandeur. You really need to focus all that energy and mind power locally, helping the community and securing customers at the unit or store level. It will absolutely make your business recession proof and famous. Together with thousands of units and stores across the landscape with young adults who have that youthful energy to burn, their dream won't die. And your company stores or franchise system will soar, because, together everyone accomplishes more (TEAM).
Sometimes students get half way through and see school for what it's worth. It's a very excellent way to get a good job, but very limiting. Many drop-out, disenchanted, saving their parents thousands of dollars. The parents can then invest this money in a real opportunity that will propel their offspring into more instant success perhaps purchasing a company franchise from you? You do need to watch however, if the reason for dropping out of school was due to lack of discipline, alcoholism or drugs. Your company is no place for that low level of commitment or integrity. Of course the parents of such drop out offspring may not be willing to co-sign for a franchise and this might be an indication of faith in their offspring and added commitment for your company. On a managerial standpoint a college degree program drop out may have done so due to lack of funds to work and go to school at the same time, meaning they can still take courses while running one of your outlets thus you get the best of all worlds, they will be with you for four more years finishing their degree and you will get the benefit of this added knowledge at the local unit level. Once completion of their degree you will then have time to evaluate them for advancement up your corporate ladder, thus everyone wins.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; WorldThinkTank.net/wttbbs
5 Strategies That Will Boost Your Business Productivity Today! - Part 1
Building a dynamic small business is a constantly evolving, increasingly demanding role.It is very easy to get so caught up in the day to day running of our business that we neglect to take the time to look from the outside in to see what we could do to improve our profitability!Well here are 5 Strategies that could boost your productivity overnight!They are not rocket science?and you may have even heard some of them before, but they are 5 proven principles that you can review today to help you stay on track regarding the real issues to grow your business from here.
The Importance of Value Mix
( * - the word 'product' can be substituted to mean 'service' too; and vice versa )Every consumer looks at maximizing value accrual while engaging in act of purchase of products* or services*. Marketing as a domain plays a very important role in influencing a purchase.
Succession Planning: Problems Getting Started
A survey released by the American Institute of Certified Public Accountants in the spring of 2005 illustrates a widespread problem on the lack of succession planning [deciding who will take over running the firm when the current managers die or retire]. The survey found that 60% of responding certified public accountant (CPA) firms have owners who are in the 55-to-62-year-old age bracket, and more than half (56%) have at least one partner who will retire in the next five years.
How To Get More Business During The Winter Months
Business seems to drop, slow or even stop during the winter months. As tourist traffic slows or stops during the winter months so does the incomes of many local business owners.
A significant advantage of some business ideas is that the venture can break even at what seems to be an easily achievable volume. A technique for quantifying that volume, called break-even analysis, examines the interaction among fixed costs, variable costs, prices, and unit volume to determine that combination of elements in which revenues and total costs are equal.
Sales Planning and Business Plans
Writing a business plan can be tricky when all the books on the subject fail to keep updating their editions. One significant factor is the sales planning in business plans, yet few books show examples of how to explain online sales which will contribute to your over all stores sales in your retail outlet.
2 Simple Steps Before Starting Your Business
There is so much small business information available today that it's easy to be bogged down by the sheer volume of it all. Where does one start? Well, it's safe to say not all the information you'll receive will be of equal value.
Business Plan: The Simplest Business Plan Ever
If you're a solo professional like I am, you know how tough it is to find any time at all to do any business planning. Doing a full business plan is a must if you're planning to seek financing or investors, but most solo professionals don't need anything that complicated.
Don't Just Talk About the Weather, Use It to Advantage
A well known, national chain of restaurants discovered that certain weather patterns substantially impacts their business. They have studied it and found that more people go out to eat dinner when there is a series of beautiful days.
Balanced Scorecard Strategy Map
With the help of balanced scorecard strategy map, it is very easy to design the organization goals and build business strategies. Balance scorecard and strategy map are interrelated with each other.
Vision Getting Dim?
A recent conversation started with a typical question, "How's business?" The reply was equally typical and prefaced by a sigh, "You know (another sigh), same old / same old."Clearly the person responding has "VCD" or "Vision Challenge Disorder.
Bounced Checks in Your Business Location Outlets
The new check cashing instant clearing will take some time to get use to. If checks clear immediately and deposits take a few days then franchise outlets may find more bounced checks in their establishment.
Why Create an Annual Plan?
Can you imagine going on a road trip without knowing your destination? Or, building your house without plans? The same can be said about running your business without a plan.They say that "If you don't know where you are going, any road will do.
Buying Used Detailing Equipment and Rainy Day Services
Mobile auto detailing equipment becomes very inexpensive around March each year. If you look on eBay or your local classified section of the newspaper you will see.
Offense: Beat the Odds
When in doubt, cut that out! Yeah, yea, doubting Thomas may have had a point in his day, and life may not be what you want it to be, but if you constantly doubt yourself, how can you accomplish anything?Where is your confidence? What possible good can come from taking the negative aspect of any situation and growing it into acceptance?Purpose of achievement is to attain a goal. So, if you set your goals and strive to get there, it should be assumed that you are moving toward your goal (at least so far as intent) no matter what you are doing, right?I vaguely remember an instructor from college saying once, "If there are two ways to take something, always input the benefit of doubt and assume the better more optimistic choice is the right way to take it.
Financing Business Expansion for Your Small Company
How you finance the expansion of your business is important. Borrowing and understanding the consequences of borrowing for your financing is extremely important.
Strategy Without Tactics is Futile
From time to time there seems to be a flurry of studies and surveys on effective communication in the workplace. As a communication specialist, I'm always eager to read these studies, but am often disappointed with what I see.
The Impact of Price Popularity on Profits
The goal of almost every business owner is to generate a profit either for themselves or their shareholders. This can be challenging at best.
Scheduling of Additional Auto Detailing or Mobile Car Wash Units
If you own a mobile car wash business or auto detailing business then you realize that when you are parked working you are making money and when you are stuck in traffic you are losing money. Sure you can say when you are in traffic people see you and write down the phone number, but you are not making money, that is potential future income, which is work you still must do in the future.
25 Ways To Find Companies To Buy
When you start your program to purchase your "ideal" company, you quickly realize that your ultimate success will depend on two primary skill sets: 1) Your ability to FIND viable companies that are for sale, and 2) Your ability to effectively qualify the potential acquisition investment once found.This article is about only step one, how to creatively find viable companies and one's that are able to be purchased.
|home | site map|