How a Franchise Agreement and a Franchise Disclosure Document differ
There are two documents that are of vital importance...
Business sustainability is important. To be successful, a business must make long-term plans to ensure that it remains financially sustainable, meeting the needs of its customers and delivering a profit for its owner for as long as it remains operational.
Environmental sustainability is a passion of newly crowned King Charles III, and it is undoubtedly a term that will continue to be discussed in greater detail in the years to come as governments around the world implement new practices to reduce carbon emissions and conserve our natural resources for the benefit of future generations.
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Sustainability in franchising
There are many franchises that are making great strides in environmental sustainability. One that has recently made the news is Orangetheory Fitness, who has launched a range of plastic-free and biodegradable gym wipes [1].
The business operates 110 locations throughout Canada, and its adoption of these new wipes will have a significant effect, reducing the chemicals used in their branches and promoting themselves as an environmentally sustainable business. This move is likely to appeal to their target demographic of health and fitness enthusiasts.
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How your business can join the revolution
Improving the environmental sustainability credentials of your business can have a marked impact on public perception and could even increase your client base and financial return.
There are many ways in which your business can become more environmentally sustainable, and many are very low cost and easy to implement.
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1. Recycle more. If your business generates large quantities of paper, cardboard or plastic waste, ensuring that it is correctly recycled will make a huge difference to your business' carbon footprint.
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2. Reduce paper waste. Leaflets, business cards and invoices that are mailed cost a lot of money to produce and distribute, and there is no guarantee that they will be recycled by the recipient. By moving to electronic methods of communication, you can reduce the amount of waste generated by your business.
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3. Pack and label your products responsibly. Choose recyclable or compostable materials for packaging your products, and you will make it easy for your customers to make responsible recycling choices.
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4. Reduce your energy consumption. Turning off lights when you are not in the room or choosing motion-activated lights will save a considerable sum of energy each year. Installing solar panels can help your business generate its own electricity, while moderating your heating and cooling to suit the environmental conditions on a day to day basis can reduce your expenses and decrease unnecessary heat loss.
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Summary
By making a few small changes, you can have a huge impact, and by being at the forefront of the sustainability movement, your pocket and customers will thank you.
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[1] https://cfa.ca/franchisecanada/orangetheory-fitness-launches-plastic-free-biodegradable-gym-wipes-in-studios-nationwide/
