Creating A Franchise Culture of Risk Mitigation

Nov 16, 2022 · 41m 19s
Creating A Franchise Culture of Risk Mitigation
Description

There are several million rea$on$ why every franchisor needs to reevaluate their risk mitigation strategy now - at least that's what I learned from Wade Millward, of rikor.io in this...

show more
There are several million rea$on$ why every franchisor needs to reevaluate their risk mitigation strategy now - at least that's what I learned from Wade Millward, of rikor.io in this episode of The Advisory Board Podcast.

We also focused on how franchisors can create a culture of risk mitigation within a franchise system.

Key takeaways include:

- There is key language every Franchise system needs in its FDD about insurance that is missing 70% of the time.
- Franchisors assume vicarious liability for their franchisees when they begin franchising. Ultimately, this means underinsured franchisees create liability issues for franchisors.
- With compliance often being such a manual task it's often burdensome and overlooked, which can put many franchise systems at risk.
- One of the first things private equity and purchasing entities will check when evaluating a franchise system for acquisition is their insurance compliance. When they find franchisees are out of compliance, the purchase multiple gets reduced.
show less
Information
Author Dave Hansen
Organization Dave Hansen
Website -
Tags

Looks like you don't have any active episode

Browse Spreaker Catalogue to discover great new content

Current

Podcast Cover

Looks like you don't have any episodes in your queue

Browse Spreaker Catalogue to discover great new content

Next Up

Episode Cover Episode Cover

It's so quiet here...

Time to discover new episodes!

Discover
Your Library
Search