What challenges will franchise owners most likely face in 2025? Many industry experts say to expect continuing challenges involving inflation, while others speculate employment and worker wages will be areas of concern. When it comes to navigating these challenges and protecting your business, insurance and risk management can play a key role. Key Franchise Owner [...]
Franchise organizations face a lot of risks — physical damage to property, liability for customer injuries, employee injury, cyber attacks and more. While insurance exists to protect your business against the costs of these types of incidents, your organization can help prevent them from occurring in the first place. Read on to explore 4 risk [...]
Each October, organizations like the National Fire Protection Association (NFPA), Occupational Safety and Health Administration (OSHA) and others observe Fire Prevention Week and Month by spreading fire safety awareness and helping protect homes, businesses and people. The annual event began in 1911 to commemorate the Great Chicago Fire, a fire that killed approximately 300 people [...]
Even the safest organization will experience a workplace injury from time to time. Whether it’s a minor paper cut or a gash requiring stitches, your business should have a prevention and reaction plan in place for employee injuries of all kinds. Preventing Workplace Injuries — Implementing an Injury Prevention Program An injury prevention program is [...]
Whatever part of the country your business is in, severe weather can impact your operations throughout the year. Consider these statistics on severe weather from the National Oceanic and Atmospheric Administration (NOAA): About 1,200 tornadoes hit the U.S. each year. 100,000 thunderstorms occur each year in the U.S. and 10% reach severe levels. Damaging winds [...]
Hiring and retaining quality employees has long been a challenge for franchise businesses, as recruiting resources can be low and finding the time for the process can be tricky. Increasing minimum wage and a competitive job market has made things even harder, with many companies responding by changing how they hire. But doing so carefully [...]
Your business changes from year to year, and your insurance may need to change with it. Whether your franchise experiences workforce changes, services changes or business changes, it’s important that your insurance coverage stays up to date. Lockton Affinity offers access to a variety of insurance products that can help safeguard your business throughout it [...]
As a franchise business operating in today's digitally connected world, your business faces several cyber liability risks. Typically, most franchisees do not consider themselves at risk for a cyber attack and have failed to take measures to secure their systems and data. For franchisees like you, cyber crime is expensive, causing damage or destruction to [...]
Even the safest organization will experience a workplace injury from time to time. Whether it’s a minor paper cut or a gash requiring stitches, your business should have a prevention and reaction plan in place for employee injuries of all kinds. Preventing Workplace Injuries — Implementing an Injury Prevention Program An injury prevention program is [...]