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May 2023
600 Stewart Street #1300, Seattle, WA 98101 | westcoastfranchiselaw.com | 206-903-0401
The Perfect Combo
Why Burgers and Quick-Serve Restaurants Go Together
Burgers are widely known as America’s favorite food. We eat an astounding 50 billion burgers annually — an average of three per person every week. Burgers might be even more American than apple pie, and I can’t think of any celebration more fitting for the franchise industry than National Hamburger Month in May. Why do we love burgers so much? They’re the cornerstone of the American cultural experience, particularly for the working class, because they’re affordable, convenient, and delicious. Many people don’t know that the original “Hamburg steak” in Germany, a beef patty fried with onions and garlic, was a food for the rich. It only became a meal for the masses when meat grew more affordable, and entrepreneurs began serving it between two slices of bread as a quick bite for factory workers in the U.S. Today, hamburgers are the lifeblood of the quick-serve restaurant industry. Burgers were the first food served under the quick-serve model, and they remain the most popular option at these establishments today. Without burgers, all of us who make a living off this industry would have very different lives. Recently, a franchisee I spoke to at a Burger King franchise conference touched upon something that resonated with me. He shared that he’d taken over the business from his father, and he and his sister had increased store sales volume significantly since the transition. I congratulated him and asked how they’d made it happen. He told me, “There’s one thing I keep in mind, and everything else falls into place. Being poor is expensive, and the people who regularly eat at our restaurants don’t have a lot of discretionary income. They’re scraping for hours at work, managing repairs for their cars, and trying
to buy the things their kids need. When they go to a restaurant, they want a clean space, fairly priced food, reliable quality, and most importantly, to be treated with respect.” It wasn’t the answer I expected, but his words resonated with my upbringing. We were middle class, but paying for everything was still a balancing act for my parents.
When we went to a quick-serve restaurant, it was a special treat. We also didn’t have the luxury of choosing anything on the McDonald’s menu; Dad would tell us our options up-front, listing the most affordable items. The last thing any family wants, under those circumstances, is to be looked down upon for their limited means. Even when we couldn’t afford everything we wanted, going to a quick-serve restaurant was still exciting, and we wanted to feel good about our experience. That’s what our occasional visits there provided. The tasty, hot food, good service, and clean surroundings gave us dignity.
I truly believe my clients are successful because they improve the lives of our country’s hardest workers. When they’re struggling to keep things together, an excellent quick-serve restaurant can make them feel important and respected. A simple burger can ultimately take on a much more significant meaning. So, here’s to America’s favorite meal and the people who provide it. All this burger talk has made me hungry, so I’m going to grab a couple of beef patties on a sesame seed bun.
– Nate Riordan 1 206-903-0401
Oh, the Places You’ll Sleep! The Traveling Sleep Trend Shaping Hotels
as possible. However, this left travelers completely exhausted. And as our culture continues to understand how important sleep is to our health, more people are prioritizing rest even while they’re away. But being a sleep tourist is about more than going to bed early and ensuring you get your recommended eight hours of rest. It’s about building your vacation around sleep. Some hotels even offer rooms tailored to sleep tourists, with amenities so popular that their sleep options have become regular offerings. So, if sleep tourism sounds like something you’d be interested in, here are three hotels that help you catch those z’s. PARK HYATT NEW YORK (NYC): This hotel features a “Sleep Suite” designed by Bryte, a company that uses AI to facilitate sleep. The room touts an intuitive “Restorative
Bed,” which adjusts to relieve pressure points and controls climate temperature throughout the night, according to each person’s needs. This suite also includes an array of soothing essential oils, a diffuser, and books about sleep. THE CADOGAN, A BELMOND HOTEL (LONDON): This hotel offers a “sleep concierge,” which boasts prerecorded sleep meditations and a pillow selection menu for every type of sleeper. Sleepers can even benefit from the hotel’s weighted blankets, scented pillow mist service, and their proprietary sleep tea. ZEDWELL (LONDON): The first ever “sleep-centric” hotel, Zedwell uses recycled materials to insulate every door, wall, and floor from sound. This hotel also purifies the air within the hotel and fills every space with ambient lighting.
If you’ve ever planned a vacation, you’ve probably picked a few key places to visit, like a museum, restaurant, or historic site. However, a new vacation trend is becoming increasingly popular: sleep tourism, where a traveler plans their entire vacation to get the best quality sleep during their time away. Before, common goals for vacations were to eat delicious foods, stay up late to see the sights, and fit in as much activity
Become Your Best Self
WHY CEOS LOVE EXECUTIVE COACHING
We assume the greatest business leaders have all the answers. Why else would they be so successful? In truth, they rarely reach such heights alone. In addition to all their support staff, leaders from Bill Gates to Oprah Winfrey frequently rely on coaches to make the most of their skills. Executive coaching has boomed in the past decade. While some leaders once hid this secret weapon, most now openly embrace it. West Coast Franchise Law founder Nate Riordan has a coach. “Someone once told me he didn’t want to tell people he has a coach,” Nate shared. “But my clients love knowing that I have a coach because it means I’m developing myself, and most of my successful clients have had one at one point or another.” Some people still bristle at the idea that they need someone to coach them on their job, while others consider coaching a waste of
time or money. But an excellent executive coach does more than give you pep talks or provide business tips. They can transform how you think about your business and shape you into a more effective leader.
business daily, it’s easy to get stuck in the weeds and forget the big picture. Coaches can see past the blind spots holding you back and help you look at old problems in new ways. Most people approach executive coaching with a specific goal in mind. Some want to improve their feelings of burnout, while others wish to become more effective leaders or increase profitability. Coaches can help with all those problems and more. But many business leaders ultimately stick with coaching long-term and find it can help them in ways they’ve never imagined. In the end, almost everyone can benefit from a bit of coaching. Try it open-mindedly, and you might be surprised at the results.
Coaches help you create or expand a growth mindset. They enable people to see
that they’ve never reached the limits of their abilities — there’s always room to learn something new, develop your skill set, or adjust
your thinking. Coaches help their clients work through problems that arise while also providing the tools entrepreneurs need to succeed in the future. A coach can help you improve performance, productivity, and profitability by providing a fresh perspective. When you deal with your
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The CPA Shortage Is Growing How Will Your Business Adapt?
It’s no secret to most business owners that the U.S. is experiencing a certified public accountant (CPA) crisis. Businesses are having more trouble finding experts to manage their finances, and we’ve even seen cases where accounting firms dropped existing clients. The problem has left many entrepreneurs wondering when the shortage will ease and where to turn in the meantime. The accountant shortage has been years in the making. Fewer young people are choosing to become CPAs thanks to lower salaries than many comparable careers and a persistent belief that the field is “boring.” Further, a CPA license requires more education than a typical bachelor’s degree. The American Institute of Certified Public Accountants (AICPA) reports that the number of people graduating with accounting degrees has continued to drop in recent years. In 2010, 50,000 people took the CPA exam, while in 2021, only 32,000 did. At the same time, existing CPAs are leaving the field. AICPA reports that almost 75% of CPAs met retirement age in 2020. While many choose to extend their careers, no one can work indefinitely. The Great Resignation and choice of many baby boomers to retire since the beginning of the pandemic has accelerated the loss of CPAs and rapidly brought the issue to a head.
So, how are businesses adapting? There are no perfect solutions, but a patchwork of accommodations is helping companies stay afloat. As firms must pay more to attract CPA talent,
businesses can expect to pay more for their services. Those who can’t afford to — or can’t find any CPAs accepting new business — must adjust their expectations. As the demand for services grows, more businesses are hiring bookkeepers and junior accountants without their CPA licenses. Many entrepreneurs are also investing in software to automate as much of their accounting as possible. Further, overseas accountants are seeing business from U.S. clients boom. But experts expect the availability of even those workers to dry up soon. There’s no quick solution to the CPA shortage. So, companies will continue to adapt, and new business solutions will likely enter the market in the following years. We’ll keep you updated on what we learn about how franchisees can adjust to this new environment.
SALMON CROQUETTES WITH DILL SAUCE
TAKE A BREAK
This dish is light and refreshing, making it perfect for spring! The crispy salmon patties pair perfectly with the cool dill sauce dolloped on top.
Ingredients: •
Inspired by Epicurious.com
1 1/2 cups plain yogurt or fat-free sour cream
•
1 large white onion, finely chopped
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1/4 cup Dijon mustard
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4 large eggs, beaten
6 sprigs fresh dill, chopped 2 14.75-oz cans salmon packed in water 4 celery stalks, finely chopped
1/2 tbsp salt 1 tbsp pepper 2 tbsp olive oil
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Directions: 1. In a small bowl, whisk together yogurt, Dijon mustard, and dill to make the dill sauce. Set aside. 2. Drain the salmon, then remove and discard the bones and skin. In a large bowl, mix the salmon, celery, onion, eggs, salt, and pepper. Form the mixture into 8 patties. Coat a medium skillet with olive oil and heat it over medium-high heat. Cook the patties until browned on both sides, about 5 minutes per side. 3. Put a dollop of the dill sauce on top of each patty and serve.
Solution:
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600 Stewart Street #1300 Seattle, WA 98101
westcoastfranchiselaw.com | 206-903-0401
IN THIS ISSUE 1 2 More Than Just a Burger 3 Hotels to Visit for a Great Night’s Sleep Executive Coaching Can Improve Your Leadership
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Why We Have an Accountant Shortage Salmon Croquettes With Dill Sauce Rebranding: Are You ‘Starry’-Eyed?
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Rebranding the Right Way Don’t Be ‘Starry’-Eyed About Your Strategy
In early 2023, Pepsi shocked the public by rebranding its lemon- lime soda Sierra Mist as Starry. Though the move raised eyebrows and spawned jokes, the success of the company’s rebranding strategy remains to be seen. Rebranding is always tricky and opens you up to the wrong kind of attention. So, if you’re considering it for your business, how do you ensure you get the right reactions? Companies rebrand for many reasons. Many do so after flagging sales to revitalize interest or reach a new market. Others rebrand to reflect a significant change in the business, like an acquisition or considerable shift in products or services. Rebranding is also a tried- and-true method for companies to move on from bad publicity. But rebranding is more than renaming your business — in fact, you don’t necessarily need to rename your business at all. Rebranding is more than a new company name, updated logo, or website. It’s about your business’s identity and overall strategy for the future. Since rebranding is not a quick fix, every business owner should evaluate their reasons for wanting to rebrand before making the leap. Simply “feeling” like it’s time for a change is not enough.
Ask what you’re hoping to accomplish, then consider whether you need to rebrand to achieve it. Your brand may just need a “facelift” with a tweaked logo, new company colors, or a refreshed social media presence. If you’re committed to rebranding, do it with clear eyes and an awareness of how your efforts could go wrong. One famous example was Tropicana (also owned by PepsiCo) in 2009. The company replaced its instantly recognizable image of a straw in an orange with a generic picture of a glass of orange juice. Consumers felt it cheapened the product — and some even had trouble finding it. Tropicana quickly switched back to its old packaging, but it was a $50 million mistake. Rebranding is a balancing act between refreshing your image and retaining the elements that made your company successful in the first place. Business leaders should strongly consider hiring a rebranding expert who understands the risks before beginning an overhaul. It’s essential to understand your current customer base and target market. Otherwise, you could alienate both — and all your money, time, and effort could fall flat.
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