Where to Start And How to Succeed With A Franchise Business If you want to start your own business, a franchise can be a great way to increase your chances for success. As a franchisee in a major network, you can expect to benefit from professional marketing, national advertising, specialized training, and centralized purchasing. As… Continue reading Where to Start And How to Succeed With A Franchise Business
Franchising represents a major component of Canada’s economic health, and we expect the number of franchised businesses across the country to grow. If you want to start your own business, a franchise can be a great way to increase your chances for success. As a franchisee in a major network, you can expect… Continue reading Is Franchising the Right Fit For You? Here’s How to Find Out
Byline: Joseph Pisani Franchising represents a great opportunity for business ownership. As a franchisee in a major network, you can expect to benefit from professional marketing, national advertising, specialized training, and centralized purchasing. As well, you are more likely to succeed with a well-established franchise than with a non-franchised independent business. But in order… Continue reading Looking to make your franchise profitable? It’s time to talk about cash flow
from Joseph Pisani, National Manager of Franchising Services, Bank of Montreal. Having been involved in business banking for over 15 years, I have had many opportunities to speak with existing and aspiring business owners on the subject of banking; more importantly, the long-term value of establishing a banking relationship. While most acknowledge that they do deal… Continue reading The Banking Relationship
from Joseph Pisani, National Manager of Franchising Services, Bank of Montreal. All too often, succession planning is a step that principals put off because of the more immediate concern of running the business. There is no argument that keeping up with operations, customer needs and markets is a full time job in itself, however it is… Continue reading Are you Ready to Pass the Torch?
from Joseph Pisani, National Manager of Franchising Services, Bank of Montreal. You don’t expect your home to burn down. However, you buy insurance to be prepared for the worst. Similarly, you do not expect uncontrollable events to disrupt the operations of your business. But if they do, a Business Continuity Plan (BCP) can be the insurance… Continue reading The Value of Being Prepared
from Joseph Pisani, National Manager of Franchising Services, Bank of Montreal. In recent months the media has covered a number of stories on the overall decline in savings rates for Canadians to around 3% of disposable income and a coinciding increase in household debt to disposable income of 153%. Stories on these statistics are not new… Continue reading Money In, Money Out: Taking Control of your Finances
from Joseph Pisani, National Manager of Franchising Services, Bank of Montreal. Time and money are two of the most precious commodities for any business. However, in today’s demanding environment, as business owners find themselves having to work harder and smarter to keep up with the pace, some tend to overlook the fact that their local financial… Continue reading Financial Management: Keeping in Touch
from Joseph Pisani, National Manager of Franchising Services, Bank of Montreal. The most important resource for starting and staying in business is cash. While sales, gross/profit margins and controlling expenses are also critical, a business that cannot manage its cash will probably be out of business, soon. Effective cash management starts with a cash flow plan. This plan should detail where and when, cash will be required (cash outflow)… Continue reading Cash Is King: Managing Cash Flow
from Joseph Pisani, Director of National Franchising Services, Bank of Montreal. If you are in the process of buying a franchise or have plans to expand your existing location, chances are you will seek some level of financial assistance. In most situations, this scenario would require that you submit an application for financing to your local… Continue reading Financing Your Franchise: The Five C’s of Obtaining Credit
