One of the largest barriers to growth in the franchise sector is business owners not knowing their numbers. The very numbers that they should be using to show what is and isn’t working in their business and to tell them where they should put more or less focus and effort.
Whilst the franchising model by its very nature does provide operational support to help to counter this, it can’t be stressed enough how important it is for every business owner to know the importance of understanding their numbers. If an owner doesn’t know what numbers they should be tracking, and you add to this the perennial excuse of not having the time to study them regularly, or choosing to ignore them because they are afraid that what they might learn will be bad news; this is a recipe for disaster.
The first step towards turning things around is to take our free Financial Knowledge Quiz
There are four initial questions to tell us a little bit about you, followed by 20 knowledge based questions, for which you may need a calculator.
