2022 Biggest Mistakes Franchise Investors Make…and What to Do About It!

/in /by

In the last couple of years, one of the outgrowths of the COVID-19 pandemic has been what most people are now familiar with as “The Great Resignation.” As a direct result of this, franchise ownership has become a more popular option for those individuals looking to take more control over their lives and become their own boss. With over 700,00 franchises in the United States, it’s no wonder that franchising is seen as a viable business model. That being said, there are some big mistakes that investors make when buying into a franchise. In this article, Jason Killough, a Certified Franchise Executive (CFE) and the owner of Thriving Solutions, LLC, an independent Affiliate with The Entrepreneur Authority (TEA) talks about the three biggest ones.

Know Thyself!

When it comes to franchising, the ancient Greek aphorism, “know thyself” is quite apropos. A common mistake potential investors make is jumping into franchise ownership before doing some honest introspection on themselves to determine if it’s really an appropriate opportunity for them. According to Jason, before investing in a franchise, it’s critical that potential franchisees ask themselves why they want to be their own boss.

“Purely from a DNA perspective, you need to know if you even have what it takes to own your own business or franchise,” Jason said, “It takes a certain type of profile.”

Jason and The Entrepreneur Authority (TEA) help potential investors in determining this through their Entrepreneur Quiz (E-Quiz), which helps them understand their appetite for risk, for example. It also helps provide insight into if a franchise – with its established systems already in place – is the right fit or if an investor is more suited to owning his or her own business outright because they don’t want to conform to a specific system.  This tool, among others he administers free-of-charge, is critical to solving one of the first parts of the puzzle – the YOU piece.

Know Thy Potential Partner!

Another mistake that franchise investors make is simply not doing their homework and due diligence when vetting a franchisor or their current franchisees. Doing so provides an insider’s perspective on what the culture of the franchise is like and if it’s a good fit for you. Talk to both newly-established franchisees and those that have been around a while to get a good idea about what their experience has been like. What kind of support do they receive from the franchisor? How much control do they have over their business? How is the communication? And, of course, Would they do it all over again?  There are many other not-so-obvious questions TEA franchise consultants will coach their candidates to ask – it’s all part of a thorough discovery process.  To learn about all the complimentary tools TEA has in their coaching arsenal, go to https://eAuth.com/resources/.

Know Thy Financial Constraints!

One of the biggest mistakes that franchisees make is investing in a franchise that’s outside of their financial parameters. There’s a broad range of investment levels when it comes to franchising, anywhere from $50,000 up to $2M+, so it’s important to be clear from the beginning what is within your budget. There are also costs that need to be considered outside of the franchise fee, such as marketing and hiring staff.

“You simply do not want to be undercapitalized,” Jason said, “The last thing in the world you want is to buy a franchise, pay a franchise fee, and then you’re about to open, and you’ve run out of money.”

That’s where Jason and The Entrepreneur Authority play a crucial role as consultants. They help would-be franchisees find a franchisor and franchise opportunity that matches their financial capabilities and long-term goals.

So, if you’re thinking of investing in a franchise, make sure you avoid these three big mistakes and consult with a qualified franchise consultant. Doing so can save you time, money, and aggravation down the road.

Jason Killough is a Certified Franchise Executive with nearly 30 years of experience in the franchise industry. He offers no-fee consultations and regularly hosts webinars on franchising. To schedule a complimentary appointment or register for his next webinar, call 800-390-3726 or visit https://eAuth.com/webinars/.

2022 Top Post-Pandemic Franchising Trends: Insights from a Certified Franchise Executive

/in /by

Have you been wondering how franchised businesses will fare in a post-pandemic world? You’re not alone. With the rollout and acceptance of vaccines, the end of the COVID pandemic is on the horizon. Businesses are eager to adjust to this new reality, but how can you be prepared with so much uncertainty? We gain insights from Charlie Bever, Certified Franchise Executive. He discusses what his experiences have been during this pandemic, and what trends to look out for. 

Charlie Bever conducting a seminar

Mr. Bever owns The Career Transition Authority® (CTA), which is an affiliate of The Entrepreneur Authority, the leading franchise brokerage firm in the United States. Before founding CTA, he was the Director of Business Development for Miracle-Ear, Inc. and was responsible for over 25% of the franchise’s current owners. His extensive experience includes franchising and executive experience at Sears, Roebuck, & Company, and management positions at other well-known retailers like Macy’s and Montgomery Ward.

So let’s dive in and gain insights from the past, present, and future to learn what we can expect from the franchising industry.

TREND #1: Passive (aka Semi-Absentee) Ownership

The pervasive attitude that stood out, as we interviewed Charlie, was the sense that people did not want to be caught off-guard, professionally. The pandemic was a wake-up call to people and franchises that did not prepare for unforeseen career situations. Here’s what Charlie had to say about how people are adapting. “The current trend is towards passive or semi-absentee ownership. Many folks lost their jobs in Corporate America during the onset of Covid. They’ve now re-landed employment, however, they want to protect themselves by owning a franchise that can be owned and managed passively .” He noted that there was a “seismic shift to passive ownership. People don’t want to get caught flat-footed should they lose their job again.” The trend of more hands-off ownership indicates that people are switching over to franchises that offer passive responsibilities. The reason for this is clear, because of the pandemic, they realized a backup plan was crucial. The franchise industry is realizing that putting all of your eggs in one basket is no longer as certain as it once was. “Passive ownership opportunities are on the rise. Many people I work with don’t realize this is an option when selecting a franchise. This puts them at ease and creates excitement to earn incremental income.”

TREND #2: People want to control their own destiny

With the abundant loss of employment experienced during the recent past, people have grown tired of relying on upper management to dictate their job status, and have embarked on entrepreneurial journeys. Many are calling it The Great Resignation. Statistically, Franchising can offer an entrepreneur a lower risk and faster way to own his or her business compared to buying a chain store outright. Mr. Bever has identified that “W-2 employment opportunities will continue to dwindle, while self-employment opportunities are trending in popularity. Average tenure rates in the US sit at 3 years. Nobody likes looking for a new job. Franchising offers them the opportunity to have more control over their professional destiny.” This is one of the many things that is driving the interest in buying franchises, and it’s a trend that will likely continue for both entrepreneurs and investors.

TREND #3: Unprecedented supply of options demands people get experienced counsel prior to investing

The last decade or so has seen a proliferation of franchise options hit the market. It makes the research process rather daunting at times to the uninitiated. That underscores the importance to work with a trusted advisor who has been around the franchise block a time or two. “There are many more options industry-wise these days than ever before. So, the trend is more, and more unique brands are entering into the pool to select from.” This increased pool means that education and finding the right fit are vital to your decision-making. Mr. Bever’s solution for franchisees is, “by working with a trusted CFE, only then can the mind-boggling search be simplified through education – without any pressure or obligation and without feeling sold. A CFE is an expert in franchising and can really match the candidate up with the best-fit opportunities.” This time has created a unique opportunity for new and experienced people in the franchise industry, and making the right decisions is the most important step. 

The adoption of virtual technologies has also increased opportunities for potential buyers. “Virtual discovery days have almost become the norm, and I have talked to many franchisors who have decided to permanently go to virtual sessions. Artificial intelligence is also now widely being used to recruit candidates, and many franchisors and franchisees have highly sophisticated CRM systems in place.”

Final Thoughts

We can see that as the sun sets on the pandemic, owning a franchise can open a lot of doors. Franchises offer stability, brand name recognition, and management systems. We hope that understanding these trends will encourage you to dive deeper into this industry.  If you would like to learn more about franchising in a safe and non-committal way, attend one of TEA’s webinars. You can register by going to: www.eAuth.com/webinars. Happy and safe investing!

2021 Franchising Trends: Diving Into The Talent Pool

/in /by

A glimmer of hope is on the horizon.


With the Moderna and Pfizer vaccines in full swing and another from Johnson and Johnson on its way, many of us are holding our breath to see if this is really the end of the pandemic. We’d sure like to hope so!


There have been a lot of changes made to our businesses, day-to-day interactions with customers, friends, and family, and even our employee relationships. While also revealing our weak spots, the growing pains from the pandemic have made us stronger in many ways.


As we go into this new phase of optimism and hope, we must remember as business leaders not to leave anyone behind. We must stand up as leaders in our communities and remember what unites us.


Many hardworking Americans have been out of a job for several months. These are people who are good at what they do but were in the right place at the wrong time. It can be daunting for these folks to get back onto their feet and out into the world without business leaders who are willing to take a chance on long-term unemployed candidates. We want to encourage you not to ignore the talent pool in front of you.


Here is why hiring long-term unemployed candidates is worth it.

Hidden Gems

Don’t think about it as charity. When hiring employees who have been down on their luck, chances are you’ll both benefit overall.


Employees who were formerly unemployed for the long-term are more appreciative, loyal, hardworking, and committed to the place that gives them a chance. This is great news for your bottom line because productivity is through the roof. Some of the best employees you have ever had might be hiding in the talent pool.

Hiring Pays

Who says doing the right thing doesn’t pay? According to the US Department of Labor, entrepreneurs who hire “individuals from 10 targeted groups,” such as the long-term unemployed, “who have consistently faced significant barriers to employment,” can get a tax credit through the Work Opportunity Tax Credit.


Although the WOTC technically expired on December 31, 2020, expiration is not unusual for this policy. It regularly “expires” and then Congress renews it again, oftentimes retroactively. So, keep an eye out for the next renewal, or be proactive and start hiring now to reap the benefits retroactively. It’s a worthwhile investment.

2021 Franchising Trends: Building Relationships

/in /by

It comes as no surprise that the most important things we realized in 2020 had to do with our relationships. With social distancing, quarantining, and stay-at-home orders going away, we hope, we must now look to rebuilding our relationships with franchisors, employees, and customers.

Franchisor-Franchisee Relationships

It’s vital to have a healthy relationship with your business partners. Every franchisee knows that working with franchisors is different from working directly with a normal “boss” or manager. As a franchisee, you are a business owner yourself. However, that does not mean that it is not important to maintain a good relationship with your franchisor.


As we move into the rest of 2021, keep in mind that your franchisor is an ally, and an asset – not a burden. Things might have been touch and go between you during the hardest parts of last year. Working with others is not always easy, but maintaining these personal connections, especially while moving into what may be the best year for franchises yet, is of the utmost importance.

Keeping a close relationship with your franchisor can help you stay up to date on industry trends, learn more about the business and customer relations, and benefit you both down the road.

Employer-Employee Relationships

Keeping up with our employees during the pandemic has looked different for each business owner. In a lot of ways, we have stayed connected more about personal health and safety than ever before – asking about symptoms, and even looking after our employees’ mental states through high seasons, long hours, sickness, and quite often the loss of someone they knew.


As we move back into the normal, chances are these specific details will no longer be shared in your regular interactions with employees. But this does not mean that it isn’t important to maintain a healthy relationship with your employees.


Ensure they feel appreciated and valued, especially as life returns to normal. Remember to thank them for toughing out challenging times and overcoming the negativity. Being there for your employees reminds them to be there for you. Encourage loyalty, engagement, and employee satisfaction by continuing to remind your employees that they matter, long after the hardest days are over.

Customer Relationships

Chances are, you were there for your customers when they needed it most. Franchises did exceptionally well in 2020, despite the overall economic downturn of most of the market. So, your customers will be thinking of how you were there for them when they needed it the most.

As you move forward into a post-COVID world, be sure to show your customers that the feeling is mutual. Offer rewards programs, or customer appreciation tokens to show that you value their loyalty and patronage.

Maintaining positive relationships with customers is always a good thing, but even when things are going well, a relationship can suffer due to a perceived lack of appreciation on one party’s behalf. People naturally want to be appreciated, even in a customer-business relationship. Recognizing these things will help your customers to continue to feel valued. A good business relationship is good for everyone involved.

2021 Franchising Trends: Make Your Mark

/in /by

Why should someone go to your location? In 2020, franchises proved to be longstanding and held strong to the footholds they had carved out in their communities. But as life gets back to normal in 2021, your customers are going to need a reminder for why your location is the one they should go to.
Make your mark on your community, so that long after the pandemic is over and COVID-19 is a distant memory, your franchise location will still be the place to be.

Create a Robust Social Media Presence

Nothing says free advertising like word of mouth. By creating a robust social media presence for your location, you can encourage your customers to interact with your business daily. This will not only increase the frequency that your business is brought to the front of your customers’ minds, but it also creates an excellent platform for engagement and growth.

When you use social media to engage your customer base, you also leave room for them to tag your location on their visits, take and share photographs and videos when they visit your location, and encourage organic growth from their followers, encouraging more business for you.
Social media in its most basic form is free. And with paid promotional content on Instagram and Facebook, you can quickly get posts in front of thousands of people within seconds. It isn’t even necessary to hire a social media manager, but if you’re interested, there are plenty of college and high school students looking for a side job that have the youthful advantage to know what they’re doing.

Look at the Competition

All’s fair in love and war. Sure, belonging to the same franchise doesn’t mean you are at war with one another – not in the least. However, when you’re aiming to stay relevant and competitive, it’s vital to see what other locations and even competitors in your area are doing to attract customers. Perhaps it’s their lighting fixtures that have people swooning. Or maybe modern décor, vending machines, or other slight details that just make that much of a difference for convenience and comfort.

There’s no shame in playing it smart. Check out the competition to make sure you are staying on your game.

Benefit Nights, College Deals, and Charity

You’re a business leader, so people look up to you. Make sure to use this to everyone’s advantage by helping out your community. If your location is in a college town, this the perfect opportunity to link up with organizations from the college campus. Greek fraternities and sororities are philanthropic organizations based on charitable giving and brother/sisterhood.


Some of these groups have philanthropies like St. Jude’s Children’s Hospital and have a fundraising threshold to meet each year or semester. By working with these students when they ask, or proactively offering it upon request, you can donate a portion of the proceeds to the organization’s chosen charity on college nights.


With cheaper deals for college students, and a portion of the proceeds going to charity, your location will become known as a do-gooder in the community and people will be more likely to support it in the future.

2021 Franchising Trends: Changing Tides

/in /by

Hello, 2021

As we ring in the new year, a sense of calm is in the air. We may still have to contend with the Covid-19 pandemic. However, as we are closing in on almost a year of living with the virus, we’re using what we have learned to overcome and move forward into a new normal. Within our brick-and-mortar franchises, we are back on our feet and ready to take new initiatives and make changes to keep our franchises growing.

While life is finally getting back to normal, we might not ever go back to the old definition of “normal.” We’ve had to adapt to survive and will continue to innovate to stay competitive. Here are some ways to make sure that you can carry your business high above the waves of these changing tides.

Reevaluate 

Whether you own a restaurant, packing and shipping branch, barbershop, hotel, or gas station, many parts of your business should be re-evaluated during these challenging times.

In a restaurant consider which menu items are readily available for delivery from your food suppliers. Think about changing the menu to fit these new adjustments. Add a theme night event allowing you to keep the numbers in your restaurant within CDC guidelines but also making the smaller group of patrons more intimate and interesting. Upcharge during these theme nights. This allows your restaurant to reinvent itself and grow.

If you own a branch of a franchise in the packing and shipping industry learn more about which shipping companies are delivering on time and which companies are generally delayed. Inform your customers and allow them to make choices that fit their needs. 

Safety

As a franchisee, you want to create a safe environment for your customers and clients.

If you own a barbershop, follow your state’s guidelines, and you may also want to offer special times designated for the elderly and those with compromised immune systems.

Attract a new clientele by hosting a small number of clients while adding unique upgrades such as beverages and music.

For restaurant owners start offering curbside pickup and adding outdoor seating. This brings more business and offers a safe way for restaurant patrons to enjoy their favorite restaurant foods. 

Personal Connections

Within all brick-and-mortar businesses, it’s important to remember that personal connections are the key to a successful brand and business. During these times, guests staying in hotels want to feel especially welcomed.

Place a welcome card in their rooms addressing the guests by name. Host smaller private hotel social events and recognize guests by name with decorative place cards on tables and announcing anniversaries, birthdays, and special occasions.

If you own a gas station start a new incentive program. Give each customer that brings in 5 receipts showing they have filled up a free coffee or pastry.

Awareness and understanding of new circumstances will always help your business to grow and succeed. Making the necessary adjustments will prove to keep your clientele happy and your business sustainable. You may even be surprised by exponential profits if your new adjustments take off. Always keep an eye out for ways to reinvent and adapt. 

2021 Franchising Trends: Keeping What Works

/0 Comments/in /by

The past year has been different than other years. Some businesses have struggled while others have thrived. Some several services and options have helped certain businesses be able to stay afloat. These services and options should be considered in the long run as well.

Curbside Pickup

Whether it is food and drinks from a restaurant, copy paper and ink from an office supply store, prescriptions from a pharmacy, or a new outfit from a department store- curbside pickup has been widely used during the pandemic. People utilize it not just for safety measures, but for sheer convenience as well. This is a service that has helped businesses stay afloat during these unprecedented times. This service has gained so much popularity, that it would be well worth continuing to offer it even after COVID-19 dies down and life returns to normal.

Delivery

Over the past year, many businesses have adapted delivery services. This service is a must-have considering the current state of the world. Many individuals are staying home for work, kids staying home to do their classes online, the elderly, and people that are sick. Delivery is an essential service at this point. Your company is also creating jobs as you will need dedicated delivery persons. Since a large number of businesses now offer delivery, business leaders should consider continue to offer it even after things start returning to normal and more businesses open up. Otherwise, your company might lose customers to the competition.

Work From Home

Having some of your employees continue to work from home after COVID-19 is a wise decision. There are many reasons this will benefit your business. You will have lower overhead — the office electric and water bill will decrease, and you will be able to downsize your office space. Also, many talented individuals may not be able to come into an office every day. This may include new parents, or someone taking care of an ill family member. This past year has proved that there are many job functions one can take on at home. Working from home allows more versatility for employees and is a great option for many.

Online Instruction

Teaching lessons online has been a rewarding alternative for teachers, artists, bakers, tutors, and many more instructors. Offering these resources online has been a game-changer. The audience you can reach is endless. You can gain clients not only from your specific country but from all over the world. Many people are attracted to this type of learning model for the convenience of not having to leave home. This will still be extremely sought after in the future. Online instruction is only growing.

Final Thought

During this pandemic, businesses have had to get out of their comfort zone and adapt new methods and practices to remain open and keep their employees. Although the practices may have seemed unconventional at first, they surprisingly worked out in the company’s favor. These are desirable options that will give your business an edge.

business owner seeks investors

2021 Franchising Trends: How to Get Investors Interested

/in /by

In our last post, we talked about upcoming industry trends to watch for in 2023. Investor interest in franchises will continue to increase. Here is how to get investors interested in your franchise in 2023.

Know What You’re About

How does every interview begin? “Tell me about yourself.” People want to know what they’re getting into. Much like a movie trailer or ad for an upcoming sporting event, people want to know why a product is worth their time and money before they make a commitment.

The best way to get investors interested in your franchise is by sharing with them what makes your business worth your time and money. If you’re
confident about the projected return-on-investment, they will be too. Sincerity is the best persuasive tool in your arsenal.

When you’re seeking investors, tell your story to draw them in. Make it clear why and how much your business matters to you. We’re not saying you should require potential investors to read a 7-page manifesto as the Anytime Fitness founders did. But it worked for them. The bottom line is, make it clear why your business is worth it.

Decide Who You Want

Investors think they’re targeting you, but there’s no need to be a sitting duck. It takes two to tango. By doing your research beforehand, you can specifically tailor your pitch to specific investor types. According to Entrepreneur, some private equity firms only want a share of your company’s equity, while others want that and influence.

Just because you’re looking for financial backing does not mean you have to forfeit your rights or comfort as a founder/owner. Think of your relationship with investors less like a loan and more like a long-term partnership. How can you both benefit?

Show Them What You’ve Got

If you want to get investors interested in your franchise, you have to prepare. Just as a haphazardly thrown together business plan will not impress investors, the same goes for disorganized accounting and business practices.

Make sure your franchisees are on board with a comprehensive accounting system and get all your ducks in a row when it comes to best practices. Investors will be scrutinizing these details specifically to determine whether or not you can deliver on your promises.

Go Get ‘Em

Once you have everything you need, it’s time to get out there and find investors. Similar to crowdfunding sites like Kickstarter or GoFundMe, entrepreneurs have their own version of helpful fundraising websites available to them like SeedInvest, Wefunder, and AngelList.

It also helps to go a more direct route and reach out through mutual connections in real life or on social media platforms like LinkedIn or even Instagram and Twitter. Investor partnerships are like a marriage, so it’s important to know more about your potential partners’ personal interests as well as their business priorities.

We hope this guide has helped you learn how to grow investor interest in your franchise. Now you know how to prepare for, choose, and take advantage of investment opportunities in 2023.

5 Franchising Trends to Look Out for in 2021

/in /by

2020 has taught us a lot. And with the new year just around the corner, we realize how important it is to go into this next year with a game plan. Here are 5 franchising trends to look out for in 2021.

1. Pandemic Holdovers

Like many businesses, yours probably had to make some coronavirus-friendly adaptations this year. Several of these, such as curbside pickup and the increasing popularity of home delivery may be here to stay. As 2021 edges closer, the vaccine has begun to roll out and the air is buzzing with hope for a cure. A word of caution: in your eagerness for life to go back to normal, don’t forget or throw out what has been working during the pandemic. It might be worth keeping.

2. Changing Tides

2020 taught us what can and can’t live without. Essential businesses stayed open and those deemed non-essential adapted if they could. Some surprised us all by thriving in the most unlikely of circumstances. Is brick-and-mortar holding you back? What did the competition do to survive? Identifying your business’s vulnerabilities will help you overcome them.

3. Investor Interest

Franchising has proven its worth as a player in the long game. Investors looking for lasting security and steady profits will be looking to franchises more than ever in 2021. As a franchisor or franchisee, consider your strengths – what makes your business worth investing in? If you haven’t already done so, now is an excellent time to prepare an investment pitch.

4. Diversifying

When the CEO of Dippin’ Dots, Scott Fischer, thinks of his company, the word “diversification” comes to mind. As with many businesses, ice-cream-stands are contingent upon activities that were limited during the pandemic. According to an interview with Entrepreneur, Fischer is steering his company into 2021 with diversification at the forefront – utilizing existing patents for future innovations and investments. Diversifying your business allows you to have your hands in several pots while protecting your business from unforeseen circumstances. Proactively diversifying your franchise in 2021 will prepare you to expect the unexpected.

5. Picking Up the Pieces

The pandemic hit some industries harder than others. Many workers in food and beverage lost their jobs as restaurants closed nationwide. As unfortunate as this is, it creates a potential win-win for your business and for folks out of a job. Unemployment claims may no longer be sky-high, but millions of Americans are still out of work. Utilize this talent pool in 2021 to staff your business with hard-working professionals in need of a second chance. You’ll get the talent and skill you need while helping your neighbors get back on their feet.

Final Thoughts

We hope you will keep in mind these 5 franchising trends in 2021. By adapting, isolating vulnerabilities, becoming investor-friendly, diversifying, and diving into the talent pool, you and your business will not only survive but thrive in the new year.

From all of us here at The Entrepreneur Authority, Happy Holidays and Happy New Year!

franchising gives back

3 Ways Giving Back this Holiday Season is Good for Business

/in /by

It’s safe to say that in our lifetime, we have never had a year like 2020. Along with its challenges, this year has also brought room and opportunities for growth – professional and personal. With the holidays fast approaching, we are reminded about what really matters. Here are 3 ways giving back this holiday season is good for business.

It is Better to Give than Receive 

At first thought, making money and giving to charity seem as opposite as hot and cold. Yet, some of the most successful franchise companies marry business with giving and have fantastic results. On average, companies that give to charity are more respected by their customers than those that do not. What’s more, employees are more likely to have a better opinion of their company if corporate charitable giving or volunteerism is encouraged or even sponsored. If increased customer satisfaction and boosted employee morale sound like something you want, now’s the time to get into the giving spirit.

In fact, the power of giving is so potent that a new initiative has sprung up to recognize charitable leaders in business. The International Franchise Association (IFA)’s new initiative ‘Franchising Gives Back’ highlights the importance of franchisees as community leaders.

According to a founding sponsor of the initiative, Steve Romaniello (Roark Capital Group),

“The purpose of Franchising Gives Back is not only to recognize these businesses, but to encourage others to ‘give back’. The economic footprint of franchising is very big, providing millions of jobs and billions of dollars to the U.S. GDP, but our social footprint, in our communities, touching the lives of our customers and neighbors in very personal ways is even bigger.”

You can find out more about Franchising Gives Back by going to franchisinggivesback.org.

Make a Difference in Your Community

Actively improving your community through canned food and toy drives, collections of box tops for education, building homes with Habitat for Humanity, etcetera. serves to enhance your business’s presence in the community. Make your business known for more than the services you offer, but also for what you believe in. This can be especially useful if you are a franchisee in a popular franchise. Stand out and be known as that location that does good things. Building up your community as a local business owner sets you apart from the businesses that seem to only care about making a buck during the holidays – although, there’s nothing wrong with that.

As with everything, balance is key. Remember what you set out to do in the first place as a business owner – make an impact in your community. Initially, that might’ve meant owning a place where your friends and neighbors would spend their money. That’s a fine goal to have. But like everything in 2020, you’ve had to grow and adapt, and your business is no different. Evolve your goal. Make your business one that inspires.  Maybe you have always hoped the neighborhood kids or those in your city would look up to you. This holiday season is a great time to make that goal a reality.

Pay it Forward

Inadvertently, customers often have an emotional response to businesses. This is why many folks have favorite grocery stores, restaurants, and even gas stations. Research shows that consumers are more likely to back something they feel a connection to. The most successful businesses know this. Whether you make it a once-a-year holiday tradition or decide to do things throughout the year – don’t stop giving. Your charity is not going unnoticed, so make it count. Customers remember your community impact and how your business makes them feel, perhaps even more than they remember their purchases. By making charitable acts part of your business’s DNA, you are showing your customers that they can feel good about where they are spending their money.

Final Thoughts

2020 has taught us that we are all in this together. Giving back and making an impact in our communities reminds us of that. Use your position as a business owner to spread joy and peace. That’s what this season is all about.