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January 2024
600 Stewart Street #1300, Seattle, WA 98101 | westcoastfranchiselaw.com | (206) 724-0846
Winter Has Left Its Mark
Memories of the Cold and Gratitude for the Warmth
The lessons you learn when you are outside in the wind and it’s 40 below really stick with you.
That was many years ago, and those things wouldn’t happen to me today. I have a garage where my car is parked, I have a nicer car that is much more likely to start in the cold, and I’ve made sure that I have a portable battery charger in every vehicle I’ve owned since. “The lessons you learn when you are outside in the wind and it’s 40 below really stick with you.”
I grew up in Menomonie, Wisconsin, playing hockey outside every winter. Unless it got to 10 degrees below zero or colder, games and practices were on. It’s funny thinking back how much more acclimated I was to the cold back then. Growing up in Wisconsin, you get used to it. I do wonder if kids are even allowed to go outside when it’s that cold now. A million years ago on a cold November night, when I was in law school at the University of Minnesota in Minneapolis, it started raining, and overnight a half-inch of ice coated everything. It was beautiful, but the reality of dealing with the ice set in pretty
Not having money is a lot of work. When you don’t have many resources, everything can be a struggle, and the cold wind blows even colder.
quickly. After that freezing rain, the temperature didn’t go above freezing until March, which meant walking, driving, and doing anything outside was challenging or dangerous. Shortly after that, my car got towed. I was a student, I had no money, and I had an old car that I parked on the street. I lived on a busy street, and because of snow emergency rules, my car was towed to the impound lot, and I had to get a ride downtown. When I reached the lot, I shuffled across the ice, got in and it wouldn’t start. The impound lot was so full of cars that there wasn’t room to get another vehicle close enough to jump my car. So, I left, borrowed a portable battery charger from a friend, got another ride from a
That brings me to the valuable work that our clients do. As franchise owners, many of them successfully run fast-food restaurants. They’re successful because they have learned how to manage and cater to people who often live paycheck to paycheck and for whom price matters. My clients understand that everyone deserves respect and a quality experience with value for the money they spend. They are very good at delivering that experience. They provide a positive environment that offers employment, quality food, and a place of warmth — no matter how cold it gets outside. – Nate Riordan 1 (206) 724-0846
different friend back to the lot immediately to avoid another day of fees, and finally got my car started. And it was a good thing because I needed it to get to work the next day.
5 Proven Strategies for Cost-Effective Travel
Traveling can be an enriching and fulfilling experience, but it can also be costly. Many people dream of exploring new destinations, but financial constraints can be limiting. Fortunately, we’re here to share five practical tips to help you save money while enjoying your trip. PLAN AND BUDGET AHEAD. One of the most effective ways to save money is by planning and budgeting your trip in advance. Create a comprehensive budget that includes airfare, accommodation, food, transportation, and activities. Having a budget lets you track your expenses and helps you avoid overspending. You can also take advantage of early bird rates for flights and hotels. CANCEL UNNECESSARY SUBSCRIPTIONS. Before you travel, review your monthly subscriptions like gym memberships, streaming services, or magazines you won’t use while you’re away. Temporarily canceling these subscriptions can free up extra cash for your travel fund. LOOK FOR DISCOUNTS AND OFFERS. Keep an eye out for discounts, offers, and coupons that can help you save money on activities, dining, and shopping. Websites like
Groupon and LivingSocial offer various deals that could be useful during your trip. These websites often provide discounted tickets to attractions, cheaper dining options, and even discounted rates for experiences like spa treatments or outdoor activities.
TRAVEL DURING OFF-PEAK SEASONS. Traveling during off-peak seasons will save you money on
flights, hotels, and activities. You also benefit from less crowded destinations and shorter queues for popular tourist attractions. This is a win-win for travelers seeking a budget-friendly and less-crowded travel experience. USE LOCAL GROCERY STORES AND PACK SNACKS. Another way to save money while you travel is by shopping at local grocery stores for snacks and meals rather than eating out for every meal. This gives you a taste of local businesses and culture. Packing snacks can also help you avoid buying overpriced food at airports or touristy areas. By implementing these tips into your travel planning and experience, you can stretch your dollar further without compromising the quality of your trip. Happy traveling!
Expanding Your Reach
IDEAS TO KEEP IN MIND AS YOU GROW YOUR BUSINESS
You had a clear vision, followed it, and started your own franchise. But that was just the beginning. You’ve continued building your thriving business over time, and now, you’re thinking about the next steps, including growing to add one or more locations.
made a case for selling your product or service in the new market, it’s time to revisit the bottom line. Take a close look at your business finances. As you do, be honest about what you think you need to hit the ground running. This is the time to pursue additional capital if needed.
location isn’t in a new state, you will want to be aware of any other requirements various local jurisdictions may have. DON’T FORGET TO ADD THE TAX Your new location could mean a new set of taxes. If you are adding your new location in a different state, once you become a foreign-qualified business, you must complete an annual report and pay taxes like any other business in that state. Another point about taxes to keep in mind is related to your online sales. If you have a physical location (including an office, warehouse, or retail store) in the state, you must collect and pay that state’s sales tax. As always, don’t hesitate to reach out with any questions. You’ve done the heavy lifting by creating a record of results that put you in the position to expand. Embrace the growth and the opportunities ahead of you.
While no one right method fits every business, here are three ideas to help expand your business.
PUT THE PAPERWORK IN PLACE The road to your new business location is paved with paperwork. Do you have the licenses and permits you need for your new jurisdiction?
GET SET FOR (A NEW) MARKET
Like in the beginning stages, when you first hatched the idea for
founding a business, you’ll build a marketing plan, this time, refreshed for the new location. After you’ve done your due diligence and
If you’re expanding your reach into a new state, you may be required to file for foreign
qualification there. Even if your new
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Building a Foundation Get the Best Return on Your Investments
BE ADAPTABLE While this tactic doesn’t focus on tech or data, it’s
Getting your return on investment (ROI) keeps your business going. There are millions of ways to get your investment back, each proclaiming they’re the best. Small things, like an email newsletter, can have huge upsides, like a 4,200% ROI. No matter what specific tactics you’re using, these three tactics can serve as the foundation of your investments. FIND A CRM THAT WORKS FOR YOU There is a lot of Customer Relationship Management (CRM) software out there, but not everything will work for you. Finding the right platform to collect your contacts, customers, and colleagues is foundational for boosting your ROI. Your customers will feel the effect when you can keep their contacts and correspondence in one place. Good relationships with customers lead to more referrals and bring more business. CRMs also have data automation, which can
deliver calculated results of new strategies or experiments you may be running. Seeing the resulting data from these strategies will help improve how these tactics are being implemented. For every dollar spent, CRMs deliver roughly $8.71 for their ROI. That’s a return you can’t ignore. HAVE THE RIGHT TEAM This seems obvious, but folks forget their team is often their most significant investment. Without a good team, your business won’t be successful. You can ensure you’re hiring the right people by measuring Key Performance Indicators (KPIs). That can include labor costs per hour, revenue per hour, and net compensation per employee. The aforementioned CRMs can do a lot of that work for you, but tracking those KPIs before laying off team members or hiring new ones is essential.
still foundational to having a successful business. Assuring your quarterly goals are malleable will help you adapt the data you accrued. It’s okay if you don’t hit the ROI you had foreseen in your first quarter; adjust your methods to hit another goal. It doesn’t help anyone to stay on the wrong path, so be sure to remain flexible. These three tools will cement your business’s ROI, whether you’re just starting or have been in business for decades. This foundation will allow you to consistently run new experiments and tactics while being able to track the data that emerges alongside your team. Don’t fall for all the shiny bells and whistles; these reliable tactics won’t lead you wrong.
BAKED SALMON WITH GARLIC AND LEMON
TAKE A BREAK
Prepare to tantalize your taste buds with a zesty dish that combines salmon with the vibrant flavors of garlic and lemon!
Ingredients: • 2 lbs salmon fillets •
4 cloves garlic, minced
• • •
1 tsp dried oregano
• •
Juice of 2 lemons
1 tsp dried thyme
2 tbsp olive oil
Salt and pepper, to taste
Directions: 1.
Preheat oven to 375 F. 2. Line a baking dish with parchment paper. Place the salmon fillets on the baking dish. 3. In a small bowl, mix together the garlic, lemon juice, olive oil, oregano, thyme, salt, and pepper. Pour the mixture over the salmon. 4. Bake for 15-20 minutes or until the salmon is cooked through. Serve and enjoy!
Solution:
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600 Stewart Street #1300 Seattle, WA 98101
westcoastfranchiselaw.com | (206) 724-0846
IN THIS ISSUE 1 2
Winter Remembrances Innovative Ideas to Cut Your Vacation Costs Tips for Expansion 3 Foundational Ways to Boost Your ROI Baked Salmon With Garlic and Lemon Ryan Reynolds’ Secret to Viral Marketing
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Business Lessons From Ryan Reynolds How to Keep Your Marketing Relevant in Record Time
How is the “Sexiest Man Alive” in 2010 also a genius businessman? Ryan Reynolds has appeared in countless movies and, even more recently, advertisements from his own business ventures. However, while his star power has an impact on his marketing, it’s his strategy that works! Reynolds co-founded his advertising agency, Maximum Effort, in 2018 and has been churning out some powerfully
it’s time to join the conversation and create an ad that plays into this trend.
his studio to create a docuseries highlighting the team’s history and the process of resurrecting the team. As a result, the team gained a massive following, countless sponsorship deals, and increased ticket sales. THE ESSENTIALS OF FASTVERTISING Clearly, the key to succeeding at fastvertising is releasing content as quickly as possible. You need to be able to plan, produce, and release an on-topic commercial in less than three days. Any longer, and the trend loses its virality, and your ad loses its relevancy. But before you move at lightning speed, you need to actually be in the know. Follow trending hashtags, videos, news headlines, and whatever other new sensation hits the cultural scene. Once you spot something that everyone is talking about, it’s time to get started. It seems like we can all learn a few things from Reynolds!
Do you remember that disastrous Peloton holiday commercial from 2019? The commercial had everyone talking — for all the wrong reasons, as many criticized the ad as sexist. Reynolds immediately stepped in, rode the wave of frenzy, and pushed out a sequel to the saga. Maximum Effort was able to conceptualize the ad’s plot, hire the ad’s star, Monica Ruiz, produce the video, and release it to the world in only 72 hours — and it went viral. The advertisement’s success led to his $610 million deal selling Aviation to Diageo. But Reynolds wasn’t done just yet. He teamed up with fellow actor Rob McElhenney to purchase a fifth-tier Welsh soccer team, Wrexham AFC, for $2.5 million and then used
effective advertising. How? A little technique called “ fastvertising .”
REYNOLDS’ SUCCESS WITH FASTVERTISING Fastvertising uses rapid-speed news outlets and social media platforms. To be successful with this type of marketing, you need to be quick on your feet, and we mean quick. Once something goes viral and becomes part of the cultural zeitgeist,
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