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Best Risk Management Practices to Protect Your Franchise Network<br />Speakers:<br />Doug Imholte, Franchise Risk Manageme...
Today’s Objectives<br />Identify Primary Risk Management Techniques<br />Discuss Key Best Practices to Help Mitigate Risk ...
What is Risk Management<br />Protect the company’s assets through identification and analysis of exposures, <br />Control ...
Risk Management is NOT…..<br />Purchasing Insurance<br />Writing an FDD<br />Hoping Bad Stuff Does Not Happen and if it Do...
Risk Management Techniques<br />Avoid<br />Reduce<br />Prevent<br />Transfer<br />Separation/Duplication<br />
Risk Management Checklist<br />Risk Management Exposure Checklist<br />Know Your Risks<br />What are the moving parts in y...
The Franchise Development Process<br />Protect/Follow the FDD<br />Collect Personal Data<br />Bring in the RIGHT candidate...
Franchise Relations<br />Understand the Dynamic Nature of the Franchise Relationship<br />Focus on Communication and Align...
The Warm Fuzzies are nice…<br />
But Not Always Going To BeOne Big Happy Family<br />
The Element of Control in Franchising<br />Franchising is all about controls and protecting the brand<br />Good Controls v...
Employment Practices<br />Understand your exposures<br />Turnover ratios<br />Demographics of workforce<br />Recruiting St...
Data Privacy<br />Understand the Risks<br />Laptops<br />Employee Information<br />Credit cards<br />Vendors (Hold Harmles...
Social Media<br />Next Huge Exposure<br />Facebook Generation<br />Employee and Advertising Risks<br />Consistency, Standa...
Supply Chain<br />Approved Suppliers<br />What Happens if…? Scenario Planning<br />Assess the Moving Parts<br />Contracts/...
Understand Loss/Incident Trends Within Your System<br />Location & Incident<br />Economic Impact on System<br />Brand Impa...
Closing Thoughts<br />
SAVE THE DATE!!<br />July 7th at 2:00 p.m., EDT<br />Next Topic<br />
Thank You For Attending!<br />Doug Imholte<br />Franchise Risk Management Practice Leader<br />RJF Agencies<br />7225 Nort...
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Ifa Webinar 6 2 (Final)

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Ifa Webinar 6 2 (Final)

  1. 1. Best Risk Management Practices to Protect Your Franchise Network<br />Speakers:<br />Doug Imholte, Franchise Risk Management Practice Leader, RJF Agencies<br />Brian Schnell, Partner, Faegre & Benson LLP <br />
  2. 2. Today’s Objectives<br />Identify Primary Risk Management Techniques<br />Discuss Key Best Practices to Help Mitigate Risk Across Your Network<br />Understand How Risk Management Impacts Franchisor and Franchisee Bottom Lines<br />
  3. 3. What is Risk Management<br />Protect the company’s assets through identification and analysis of exposures, <br />Control the exposures <br />Finance of losses through external and internal funds <br />Implement and monitor the risk management process<br />
  4. 4. Risk Management is NOT…..<br />Purchasing Insurance<br />Writing an FDD<br />Hoping Bad Stuff Does Not Happen and if it Does, Then Deal With It<br />
  5. 5. Risk Management Techniques<br />Avoid<br />Reduce<br />Prevent<br />Transfer<br />Separation/Duplication<br />
  6. 6. Risk Management Checklist<br />Risk Management Exposure Checklist<br />Know Your Risks<br />What are the moving parts in your system<br />Know Your Franchisees’ Risks<br />What are their moving parts in their business<br />Their Risks Can Become Your Risks<br />Track Certificates of Insurance<br />
  7. 7. The Franchise Development Process<br />Protect/Follow the FDD<br />Collect Personal Data<br />Bring in the RIGHT candidates<br />Inhouse/Outsource the Development Function<br />
  8. 8. Franchise Relations<br />Understand the Dynamic Nature of the Franchise Relationship<br />Focus on Communication and Alignment<br />Protect the Balance Sheet/ E&O Insurance<br />Anticipate What Might Go Wrong<br />
  9. 9. The Warm Fuzzies are nice…<br />
  10. 10. But Not Always Going To BeOne Big Happy Family<br />
  11. 11. The Element of Control in Franchising<br />Franchising is all about controls and protecting the brand<br />Good Controls vs. Bad Controls<br />Vicarious Liability Concerns<br />How Does a Franchisor Balance?<br />
  12. 12. Employment Practices<br />Understand your exposures<br />Turnover ratios<br />Demographics of workforce<br />Recruiting Strategy<br />Track….<br />Take Advantage of Resources<br />
  13. 13. Data Privacy<br />Understand the Risks<br />Laptops<br />Employee Information<br />Credit cards<br />Vendors (Hold Harmless)<br />Being Compliant is good start<br />PCI <br />Find the Weakest Link<br />
  14. 14. Social Media<br />Next Huge Exposure<br />Facebook Generation<br />Employee and Advertising Risks<br />Consistency, Standardization and Documentation/ Adopt a Social Media Policy<br />Invest Upfront<br />
  15. 15. Supply Chain<br />Approved Suppliers<br />What Happens if…? Scenario Planning<br />Assess the Moving Parts<br />Contracts/Indemnification<br />Vendors, Real Estate, IT<br />Franchisee Compliance<br />
  16. 16. Understand Loss/Incident Trends Within Your System<br />Location & Incident<br />Economic Impact on System<br />Brand Impact<br />Track Incident by Location<br />Safety Committee<br />
  17. 17. Closing Thoughts<br />
  18. 18. SAVE THE DATE!!<br />July 7th at 2:00 p.m., EDT<br />Next Topic<br />
  19. 19. Thank You For Attending!<br />Doug Imholte<br />Franchise Risk Management Practice Leader<br />RJF Agencies<br />7225 Northland Drive N, Suite 300<br />Minneapolis, MN 55428<br />Phone: 763-746-8221<br />Fax: 763-746-8321<br />Mobile: 612-396-9157<br />Email: imholted@rjfagencies.com<br />Brian Schnell<br />Partner<br />Faegre & Benson LLP<br />2200 Wells Fargo Center90 South Seventh StreetMinneapolis, MN 55402-3901Phone: 612-766-7472<br />Mobile: 612-720-1086<br />Fax: <br />Email: bschnell@faegre.com<br />

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