Elizabeth Gillam Franchise Secrets Podcast – Welcome Elizabeth Gillam Creating High Performance Franchisees is what Elizabeth Gillam does. Having owned and operated three franchised food businesses; Boost, Healthy Habits and Bucking Bull; she knows what it takes to operate a profitable food franchise. This multi award winning business woman, author, speaker and mentor, thrives on showing fellow franchisees how to do the same. She now has her own Podcast Franchise Secrets to tell the stories that franchisees should hear to […]

Way back when I started in business, I figured that if I was taking in money and only spending the money I had then I was in a profit situation, right? After all, my accountant seemed happy. Then accounting software took the world by storm and bookkeeping got easier. At about that time I started working with McDonalds franchisees. Wow, these guys were really smart! They knew how to read a Profit & Loss (P&L) report; they drilled down into […]

I meet with a lot of franchisees. Some happily married to their franchisor and some who are disgruntled divorcees. It makes me wonder… “What makes the perfect franchise marriage?”   Franchisees buy into a franchise system, a system that is proven.  A system that has support mechanisms built into it to help them along the way.  So why is it that some people earn a respectable living and some don’t? Why is it that some franchisees feel they need to […]

Before the global financial crisis, getting a loan was pretty easy. There was some documentation, but really all you had to do was give your accountant-prepared financials to the bank and the loan was approved. As I said, that was before the GFC. Sometime in mid-2009, I found myself requiring an overdraft, so off to the bank I went to ask for a loan. And that was when the fun started. There were all these questions to answer and profitability […]

Employee management is one of the most frustrating and time-consuming parts of your franchised business.  Being an employer requires you to adhere to workplace legislation.  It is quite in depth and the onus is always on the employer to get it right.  The penalties are staggering. Here are nine ways that the Franchisor helps you, the franchisee, to be an employer. Employee Induction Process – inducting employees into your business is a process that is very detailed and required by […]

Phew it is over, the financial year, but wait, a new one has begun. When I finished my first financial year in business, I felt a sense of achievement. I felt I could really do this franchising gig. I started to rest and relax, but I soon realised that as a franchisee, you had to be on top of your business all the time. You had to know where you had been and where you were going so that you […]

Are your staff always telling you they are being run off their feet – we need more staff!  But your franchisor is saying “Cut Labour” Where is the middle ground? How do you as a franchisee know what comment is correct?  Well let me show you a key performance indicator that will help not only show you how busy your staff are, but will also help you to control labour cost.  Sales per Labour Hour (S/LH)  it is your bst friend […]