Regardless of the New Regulations or Hurdles that Come Your Way
The quick service restaurant and franchise industry is constantly evolving. But it isn’t just consumer tastes and behaviors that you have to worry about being in constant flux. It’s also regulations changing on both a local and national level that you have to watch for and react to as well. One such example of a regulation change is a new minimum wage, which could have ripple effects on staffing, costs of menu items, and more.
Other hurdles could be disruptions in the supply chain, economic downturns, and other problems that create hiccups in your daily operations or alter the behaviors of consumers in such a way that it significantly affects your profits. Changes such as these all present significant challenges to franchise owners. But if you don’t adapt and evolve to changes happening around you, you won’t be able to effectively stay in the game.
What is Flexibility?
Flexibility is simply the capacity to adjust to both short and long-term changes. Being flexible also means being able to make changes quickly and calmly, allowing you to handle even the most unexpected of problems.
What is Adaptability?
Flexibility and adaptability are often used as synonyms, but they are a little different. Adaptability is in relation to your attitude or behavior. How does this relate? You need to be adaptable in order to be flexible. In other words, adaptable means you are willing to accommodate space for change.
Why Flexibility is Important
Change is inevitable and most of us have experienced it at work at some point. But, we can’t always predict when changes or issues will happen. And that is why learning to be flexible in managing your franchise is so important.
When you allow yourself to be flexible, you are more versatile, resilient and responsive to change. You can quickly adapt to unexpected issues and demands, whether it’s a surge, a downturn, or new regulations and laws.
Flexibility allows you to stabilize even crisis-like situations. But it also helps you keep your objectives achievable and within reach.
How to Be More Flexible
Flexibility requires that certain mindset as well as a strong sense of purpose. Let’s talk about how you can achieve more flexibility.
- Stay grounded. Continuing to focus on your core values and organization’s culture during times of change can help you meet the unexpected.
- Be open-minded. This can help you understand different perspectives and give you a holistic view of the changes happening.
- Be optimistic. Focusing on the positives can help you stay resilient and focused.
- Stay calm. This can counter the effects of stress and anxiety.
- Plan ahead. We can’t always predict the future, but having a plan for the unexpected will help you anticipate and prepare better for change.
Key Takeaways
The bottom line is that change happens. But by learning to be more flexible in managing your franchise or quick service restaurant, you can more easily adapt and evolve to those changes. Being flexible doesn’t just help keep your head above water. It allows you to overcome any hurdle with more efficiency and, perhaps, even more profitability!