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Welcome to AI Decoded, Fast Company’s weekly newsletter that breaks down the most important news in the world of AI. You can sign up to receive this newsletter every week via email here. The cost of AI will surely rise, along with our dependence on it Developing AI models and serving AI apps is a notoriously expensive undertaking. AI labs use massive amounts of computing power, training data, and high-priced talent to create and serve AI models, and the costs are not nearly covered by the chatbot subscription and API fees they bring in. Neither OpenAI nor Anthropic, for example, are profitable, and won’t be for some time. The difference, for now, is made up by investment money, much of it from venture capital firms. But that won’t last, of course. As AI companies mature, they’ll be expected to make returns on all the investment money they’ve taken. And the prices consumers and businesses pay for AI will almost certainly go up. It fits the model. Silicon Valley’s canonical playbook is to sell an app or service cheaply at first to build a large user base, then raise prices and, often, let the customer experience slip. In the early 2010s, for instance, Uber heavily subsidized fares with venture capital as it scaled its network of riders and drivers. In some markets, drivers received the full fare plus bonuses of up to 50%. By the late 2010s, as investors pushed toward a 2019 IPO, Uber began sharply increasing prices. Between roughly 2018 and 2022, fares rose by 50% to 80%, depending on the study, with further increases since. Many startups, including Amazon, Netflix, Airbnb, Instacart, and DoorDash, have followed versions of this model. Some of the same big VCs that funded these “growth-at-all-costs” companies are now bankrolling today’s AI companies. For example, Khosla Ventures and Sequoia Capital invested in Uber and are now backing both OpenAI and Anthropic, among other AI labs. Andreessen Horowitz (a16z) invested in Uber (and other Uber-like startups) and now backs OpenAI and numerous other AI app and infrastructure companies. The main difference between the Ubers of the past and the AI companies of today is that the AI companies also take investment money from their big tech business partners (like Microsoft and Nvidia) as well as from private equity giants like TPG and Bain Capital. I see another similarity. Kara Swisher once quipped that with the rise of Uber, Instacart, and other app-based services in the 2010s, San Francisco began to feel like “assisted living for millennials.” What she meant was that these companies offered a cheap—at least initially—way to outsource everyday physical tasks, from grocery shopping to getting around to making dinner or going out to a movie. You could sit on the couch, tap your phone, and it was done for you. The convenience was undeniable, and during the pandemic it often felt essential. But it also nudged people toward a more sedentary, phone-mediated existence. And, as with so many of these services, the costs eventually rose, claiming a larger share of users’ paychecks. AI chatbots and related tools may point to a similar, or even more troubling, trajectory. They can speed up information retrieval and automate a share of routine cognitive work. But as the major AI labs themselves have suggested, intelligence is becoming a commodity, something available on demand. The temptation, then, is to offload more and more of our own thinking and reasoning as these systems improve, outsourcing not just tasks but the mental effort behind them. MiniMax says its newest AI model helped build itself A new AI model from the Chinese AI startup MiniMax played a major role in its own development, the company says. The model, called MiniMax M2.7, can reportedly test itself on tasks and knowledge areas, diagnose its limitations, then improve itself automatically. MiniMax calls the concept “self-participation iteration.” MiniMax says M2.7 handled between 30% and 50% of its own development work. For example it ran more than 100 loops of self-analysis and debugging, then iterative self-improvement without human intervention. As a result, the model hit benchmark scores comparable with the best Western AI models. M2.7 scored 56% on SWE-Pro (a difficult, realistic coding benchmark), MiniMax says. OpenAI’s GPT-5.2 “Thinking” model scored roughly 55%, while Anthropic’s Claude Opus 4.5 scored 52%. Normally, AI labs rely on human engineers to design and run evaluations on models to find shortcomings, then make improvements that eventually packaged up into a new version release. The idea of a continually self-improving model calls into question the need for new product releases, and points to a time when models simply improve on their own over time. More AI coverage from Fast Company: OpenAI’s new frontier models mark a huge change in how AI will be built Does the public comment system have an AI problem? Miro’s CEO is betting AI will change how teams work This AI project turns deepfakes into a history lesson Want exclusive reporting and trend analysis on technology, business innovation, future of work, and design? Sign up for Fast Company Premium. View the full article

It’s a tough time out there for creatives. Whether you’re a writer, director, actor, or artist of any kind, the world is short on opportunities—particuarly the kind that pay. But even Academy Award winners like screenwriter and director Barry Jenkins didn’t have a linear path to success, as he shared in a recent panel about how to sustain a career as a filmmaker. Jenkins, the writer-director behind Moonlight and If Beale Street Could Talk, was a panelist at “Behind the Chair: Representation and the Business of Filmmaking,” a seminar on the film industry hosted by the Directors Guild of America. In a one-on-one discussion with fellow director Anu Valia (We Strangers), Jenkins advised the audience on how to persevere in a crowded creative field. “Many of you guys are really, really good. You’re really strong directors, but there’s so many of you that are so strong,” he began. “When I think about what it takes to stay in a career as a director, as a feature film director, it is whatever the hell you need to do.” For Jenkins, that meant returning to a job in retail even after directing his first feature film. He recalled working on his feature-length debut Medicine for Melancholy, which released in 2008 to critical acclaim, including becoming a New York Times Critics’ Pick. “I made a movie for $15,000 with friends I went to film school with,” Jenkins said of the film. “I then worked at Banana Republic for three and a half years while I had a deal at Focus Features and an agent at CAA, because having a film on the year-end list at The New York Times doesn’t pay the rent.” In another ironic example, Jenkins said he was a food worker at one film festival while his work was playing at another: “I literally had a movie screening at the Toronto International Film Festival, and I was the concession stand manager at the Telluride Film Festival,” he shared. “You know why? [. . .] I just wanted to be where cinema was.” By all accounts, Jenkins is a runaway success story. He’s achieved many filmmakers’ dreams, having won the Oscar for Best Adapted Screenplay for his 2016 film Moonlight, which was also named that year’s Best Picture, and being nominated twice more as a director and screenwriter. He’s gone the blockbuster route too, directing Mufasa: The Lion King for Disney in 2024, which was the sixth-highest-grossing film of that year with $723 million at the box office. To hear that someone as successful as Jenkins still had to balance his creative career with other work to get by hit home for many aspiring artists, who expressed on social media how his advice is both reassuring and sobering. One user wrote that hearing Jenkins’ story while at their own survival job was “kinda life affirming.” Another echoed that sentiment: “Seeing this after getting home from the Day Job . . . was needed,” they wrote. Another user praised Jenkins for “openly speaking about the most elusive topic in filmmaking”: where their money actually comes from. “People are mum about it. He’s brave,” they added. Check out Jenkins’ full conversation below. View the full article

Most organizations genuinely want to support their people. We invest in wellness apps, coaching programs, and leadership development, all with good intentions. Yet burnout rates keep climbing. Aflac’s WorkForces Report from November 2024 referenced that burnout affected nearly 3 in 5 American workers with employees experiencing high levels of stress rising to 38% in 2024, up from 33% in 2023. The issue isn’t effort or resources. It may simply be that we’re solving for the wrong problem. I recently sat down with Natallia Miranchuk, founder of SOULA, an AI-powered emotional support platform that combines neuroscience, health expertise, and artificial intelligence to address workplace wellbeing. While her research has focused primarily on women, the insights she shared have implications for how we support all high performers—regardless of gender. SOULA recently completed a pilot program with InDrive, a global unicorn with over 2,000 employees. The results were remarkable: 67% sustained engagement among participants—compared to the industry standard of just 3% for wellness apps like Calm or Headspace. Participants returned to the platform four to six times weekly for what Miranchuk calls “self-reflection therapy”—brief, 10-minute sessions that don’t require scheduling a therapist or waiting for a weekly coaching call. What the data says Here’s what the data revealed—insights that can reshape how any leader thinks about sustaining high performance. Care before you push. Many workplace wellness approaches emphasize optimization: go further, achieve more, level up. These aren’t bad instincts—ambition matters. But Miranchuk’s research suggests that sustainable performance starts somewhere different. “When a person feels genuinely cared for,” she told me, “they can do whatever they want.” This isn’t soft thinking—it’s neuroscience. Feeling psychologically safe and supported activates the neural pathways that enable creativity, risk-taking, and resilience. Leaders who model care aren’t coddling their teams; they’re creating the conditions for sustained excellence. Support works best in the moment. The InDrive pilot’s most surprising finding wasn’t just the engagement rate—it was when people sought support. They didn’t wait for scheduled therapy sessions or monthly check-ins. They needed emotional processing in real time, multiple times throughout the week. This challenges the conventional model of periodic wellness interventions. Just as we’ve learned that feedback works best when it’s timely, emotional support may be most effective when it’s available on-hand rather than on-schedule. For leaders, this means creating cultures where checking in isn’t a calendar event—it’s woven into daily rhythms. Personalization matters more than we thought. Miranchuk’s work highlights how one-size-fits-all wellness programs often miss the mark. Her research with women revealed that biological cycles, hormonal patterns, and stress responses vary significantly—and generic tools don’t account for these differences. But the broader principle applies to everyone: we all have unique rhythms, energy patterns, and recovery needs. Building what Miranchuk calls “soft resilience”—the capacity to sustain performance over time—requires self-awareness about our individual cycles and designing routines that prevent burnout rather than treating it after the fact. The best leaders help their people discover what sustainable performance looks like for them specifically. Authentic care creates community organically. When the InDrive pilot introduced a simple practice—asking “How are you today?” and genuinely listening for three minutes—something unexpected happened. Participants spontaneously formed support networks outside the program. They started helping each other with childcare, sharing meals, coordinating logistics. Workplace belonging emerged not from team-building exercises but from authentic presence. This is what I call Inside Out work: when leaders model genuine care, it cascades through the organization in ways no program can manufacture. Ambition is evolving. Perhaps most intriguingly, Miranchuk has observed senior leaders—particularly women, but increasingly men too—redefining what ambition means to them. They’re not losing drive; they’re seeking impact-oriented work where they can see meaningful outcomes. The old model of climbing for climbing’s sake is giving way to a desire for purpose and visible contribution. Organizations that understand this shift will retain their best talent. Those that don’t may find their most capable people leaving for entrepreneurship, consulting, or social impact ventures where the connection between effort and meaning feels more direct. Three things you can try this week First, examine your wellness offerings with fresh eyes. Ask: Are these tools designed for how people actually experience stress and recovery? Or are they productivity tools dressed in wellness language? Second, model the pause. Before your next team meeting, try opening with “How are you today?”—and actually listen. Three minutes of genuine presence can shift the tenor of an entire team. Third, expand your metrics. Alongside productivity outputs, start noticing energy sustainability. What practices help your people run longer without burning out? What does sustainable excellence actually look like on your team? The organizations that will thrive in the coming years won’t necessarily be those with the most sophisticated technology or the most aggressive growth targets. They’ll be the ones that understand a fundamental truth: high performers don’t always need to be pushed harder. Sometimes they need to give themselves permission to breathe—and be trusted to take it from there. View the full article

When you’re waiting for a background check, comprehension of the timeline can help you manage your expectations. Typically, these checks take between 2 to 4 business days, depending on various factors. Employment verifications usually take 1 to 3 days, whereas criminal checks may vary considerably based on jurisdiction. Nonetheless, there are several reasons why delays might occur. Curious about what can slow down the process or how to expedite it? Key Takeaways Standard background checks typically take between 2 to 4 business days to complete. Employment verification usually requires 1 to 3 business days, depending on employer responsiveness. Criminal background checks can take 1 to 5 business days, influenced by local or federal searches. Education verifications may range from a few days to over a week, based on institutional responsiveness. Delays can occur due to incomplete information or unresponsive former employers and educational institutions. Understanding Background Check Timelines When you’re managing the hiring process, comprehending background check timelines is vital, as it can greatly affect both you and your potential employer. Typically, how long does a background check take in the U.S.? Expect it to span between 2 to 4 business days for standard checks, whereas international verifications might take 10 to 15 days because of varying data privacy laws. Employment verification usually requires 1 to 3 business days, but delays can happen if past employers are slow to respond. Criminal checks can take from a few hours to several days, depending on the jurisdiction and court efficiency. Education verifications often take several days to over a week, especially during school vacations. Be mindful that incomplete candidate information or slow responses from references can further prolong the process. Comprehending these timelines is vital for a smoother hiring experience. Types of Background Checks When you’re undergoing a background check, it’s important to know the various types involved. Common checks include criminal, employment, education, and motor vehicle records, each with different timing for the verification process. Comprehending these types can help you anticipate how long your background check might take and prepare accordingly. Common Check Types Background checks are essential tools used by employers, landlords, and other organizations to assess an individual’s history and qualifications. Common check types include criminal background checks, which usually take between 1 to 5 business days, depending on the jurisdiction. Employment verifications often take 1 to 3 business days, but delays can happen if former employers are slow to respond. Education verifications can range from a few days to over a week, influenced by institutional responsiveness. Motor vehicle record (MVR) checks typically complete within minutes, thanks to digital databases. Additional checks, like credit history or professional license verifications, may take several days to weeks, depending on the complexity and third-party responsiveness. Verification Process Timing How quickly does the verification process for background checks unfold? The timing varies based on the type of check being conducted. For employment verification, expect 1 to 3 business days. Criminal checks can wrap up within 1 to 2 days for local searches, but federal checks might take up to a week. Education verification timing ranges from a few days to over a week, depending on school responsiveness. Reference checks typically require 2 to 3 business days. Type of Check Average Time Factors Affecting Time Employment Verification 1 to 3 business days Responsiveness of former employers Criminal Background 1 to 2 business days Local vs. federal checks Education Verification Few days to over a week School responsiveness Understanding these timelines can help you know how long does an employment background check take. How Long Does An Employment Background Check Take? Ever wonder how long an employment background check might take? Typically, how long do employment background checks take can vary considerably based on several factors. Usually, the process ranges from a few minutes to five business days. Employment verification, which checks your work history, typically takes one to three business days. This timeline is heavily influenced by how quickly your former employers respond. Education verification can likewise take two to three business days, but delays may occur if schools are on break or unresponsive. Furthermore, if your candidate information is incomplete or if there are additional checks required, this can extend the overall duration of the background check. As a result, it’s important to confirm all your information is accurate and accessible to expedite the process. By comprehending these timelines, you can better manage your expectations during your job application expedition. How Long Does A Criminal Background Check Take? When considering the timeline for a criminal background check, you might wonder what factors affect its duration. Typically, in the U.S., how long does a criminal background check take? For state searches, it usually requires 1 to 2 business days, whereas federal checks can often be completed within a day. Nonetheless, if additional verification or multi-jurisdictional checks are necessary, the process can extend to a few days or even weeks. In the UK, DBS checks take between 2 to 7 days, depending on the required clearance level. International checks can last from 1 week to 4 weeks, influenced by local data privacy laws. Be aware that delays may occur because of incomplete candidate information, slow responses from courts or law enforcement agencies, and the need for manual verification in non-digitized records. Comprehending these factors helps set realistic expectations for your background check timeline. How Long Does An MVR Check Take? When you request an MVR check, you can usually expect it to take just a few minutes, especially with most states offering immediate online access to driving records. Nevertheless, if a manual request is needed, it might stretch to several days, depending on the state’s processing efficiency and demand. Keep in mind that factors like the complexity of a candidate’s driving history can likewise impact how quickly you receive the results. Typical Completion Time Typically, a Motor Vehicle Record (MVR) check can be completed within minutes, thanks to the efficient digital databases maintained by various states. Nevertheless, if manual requests for records are necessary, the turnaround time can extend to a few days. The speed of these checks varies by state; some jurisdictions provide immediate online access, whereas others may require additional processing time. When employers conduct MVR checks, they’re verifying your driving history, which includes license status, violations, and accidents. To help speed up the MVR check process, make certain your identifying information—like your driver’s license number and state of issuance—is accurate and readily available. Factors Affecting Duration Several factors influence how long an MVR check takes to complete. Typically, an MVR check can be finished within minutes, thanks to digital state databases. Nevertheless, if your request requires manual processing, the time frame can extend considerably. The state you’re in also plays an essential role; some states have more digitized records than others, affecting the speed of retrieval. Accessibility to required records is critical—if they’re easy to access, you’ll get faster results. Furthermore, if your check involves multiple states or requires extra information, expect delays. How Long Does Employment Verification Take? How long does employment verification actually take? Typically, it ranges from 1 to 3 business days, but this can vary based on how quickly your previous employers respond. If you have an extensive job history or are verifying international work, expect longer delays. Utilizing services like The Work Number can greatly speed up the process by providing instant employment reports. To give you a clearer idea, check out the table below: Factors Timeframe Notes Responsive Employers 1-3 Business Days Quick replies help expedite. Extensive Job History 3-7 Business Days More details require more time. International Verification 1 week or more Additional checks increase duration. Using Verification Services Instant Services can provide quick results. Keep in mind that preparing your documentation ahead of time can help streamline the process. How Long Does Education Verification Take? When you’re undergoing a background check, the education verification process can vary in duration. It usually takes a few days to over a week, influenced by factors like the responsiveness of the school and whether it’s during a holiday. Providing accurate details about your educational institution can help streamline the process, reducing delays and ensuring quicker results. Duration Variability Factors Though the duration of education verification can vary greatly, it usually takes anywhere from a few days to over a week. Factors influencing this timeline include school responsiveness, holidays, and the verification method used. For instance, automated systems can yield results quickly, whereas manual methods may introduce delays. Factor Impact on Duration School Holidays Can extend wait times Verification Method Automated is faster Third-party Reliance May slow down the process Candidate’s Details More details speed up checks Institutional Policies Varies by school Verification Process Steps Comprehending the verification process steps for education can help you anticipate how long it might take to complete. Education verification typically takes anywhere from a few days to over a week, largely depending on how responsive the institutions are. If the school uses third-party verification services, or if you provide detailed information about your academic history, the process can be expedited. Precise details, such as the institution’s name and graduation dates, minimize back-and-forth communication, speeding things up. Nevertheless, keep in mind that delays can occur during school vacations when staff may be unavailable. For international education verifications, expect longer durations because of different processes and potential translation needs, which eventually affects how long does a work background check take. Impact of School Holidays School holidays can greatly impact the timeline of education verification. When you’re asking how long does it take to receive a background check, keep in mind that educational institutions may have reduced staff or be closed during these breaks. This can lead to delays, as verifying degrees and attendance dates often requires reaching out to schools directly. Normally, education verifications take 2 to 3 business days, but during peak times like summer vacations or holidays, this duration can extend considerably. To help speed up the process, providing precise details about your school, such as attendance dates and degree information, can minimize back-and-forth communication and ultimately reduce delays in your background check. How Long Does A State Background Check Take? When you’re curious about how long a state background check takes, it’s important to recognize that the timeframe can vary greatly based on several factors. Typically, a state background check can take one to two business days. Nevertheless, the specific state and record accessibility play vital roles. Factor Timeframe Online Searchable States Within 1 business day Manual Requests 2+ business days Non-Digitized Records Longer than average If a state has an extensive database and streamlined processes, you’ll likely see faster results. On the other hand, states with less digital infrastructure may take longer. Remember, if there are discrepancies or additional information needed, it could delay how long the background check takes. Grasping these factors can help manage your expectations effectively. What Can Cause Delays In The Background Check Process? Several factors can lead to delays in the background check process, impacting how quickly you receive results. If you provide incomplete or inaccurate information, such as the wrong Social Security number or outdated addresses, it can considerably slow things down. Furthermore, delays from former employers or educational institutions when verifying your history can extend the overall timeline by several days. In jurisdictions with non-digitized records, accessing necessary documents may require in-person visits, which likewise introduces delays. If your check involves multiple jurisdictions or international searches, varying regulations can prolong processing times. Finally, using aliases or nicknames can complicate searches, requiring extra time to confirm that all relevant records are accurately identified and verified. As a result, comprehending these potential setbacks is vital when considering how long a background check can take. Speed Up Your Background Check Process With GoodHire To streamline your hiring process, GoodHire offers a fast and efficient background check solution that can help you get results in just a few minutes. By leveraging digital databases and advanced technology, GoodHire guarantees that you understand how long a pre-employment background check takes, minimizing delays and inaccuracies. Here’s how GoodHire improves your experience: Feature Benefits Impact on Time Digital databases Quick access to information Reduces search time Candidate portals Fast consent gathering Speeds up verification Low dispute rate Accurate initial results Minimizes rechecks Streamlined processes Efficient data collection Shortens overall timeline With GoodHire, you can expect a smooth candidate experience and maintain a qualified hiring pipeline without unnecessary delays. Goodhire’S Platform Is Built to Optimize Turnaround Times GoodHire’s platform is designed with a primary focus on optimizing turnaround times for background checks, ensuring that employers receive timely results without sacrificing accuracy. Typically, you’ll find that how long it takes a background check to come back can be just a few minutes, thanks to GoodHire’s use of advanced technology and digital databases. This approach streamlines the hiring process, allowing you to make faster decisions. The platform additionally boasts a low dispute rate, reflecting the high accuracy of the results, which helps maintain a qualified hiring pipeline and minimizes candidate drop-off. Compliance with FCRA regulations is another critical feature, as GoodHire provides educational insights for employers on necessary steps if adverse action is taken. By emphasizing quick results and transparency, GoodHire not only improves the efficiency of the background check process but also elevates the overall candidate experience, making it smoother and more straightforward for everyone involved. Frequently Asked Questions How Long Do Most Pre-Employment Background Checks Take? Most pre-employment background checks take between 2 to 4 business days to complete. Local criminal checks usually wrap up in about 1 to 2 days, whereas federal checks can extend to a week or more. Employment verification typically requires 1 to 3 business days, but delays can arise if former employers are slow to respond. Education verifications might take a few days to over a week, depending on the institution’s responsiveness. What Is a Red Flag in a Background Check? A red flag in a background check indicates discrepancies or concerning information about a candidate. This can include undisclosed criminal records, inconsistent employment history, or unexplained gaps in employment. Furthermore, inaccuracies like misspelled names or incorrect dates can raise concerns. Although a red flag doesn’t automatically disqualify you, it often prompts employers to seek clarification. Comprehending the context behind these issues is vital for informed hiring decisions. What’s the Fastest a Background Check Can Be Done? The fastest a background check can be completed is often within minutes, especially for Motor Vehicle Record checks, which access digital state databases. Criminal checks may take just one day for federal searches. Employment verification can as well be expedited via services like The Work Number. Education verifications are quick too, particularly with resources like the National Student Clearinghouse, even if they might take longer during school breaks. How Do I Know if I Will Pass a Background Check? To know if you’ll pass a background check, start by reviewing your criminal history for any issues. Make certain your employment and education details are accurate, as verification can reveal discrepancies. Consider any aliases that might complicate searches. In addition, outstanding legal matters can impact your results. Finally, keep in mind that you must give consent for the check, and submitting your documents without delay can help avoid setbacks in the process. Conclusion In conclusion, the duration of a background check can vary based on the type and complexity of the verification needed. Employment checks typically take 1 to 3 days, whereas criminal checks may extend from a few hours to several days, depending on the jurisdiction. Delays can arise from incomplete information or unresponsive sources. By comprehending these timelines and potential issues, you can better navigate the background check process and guarantee a smoother experience. Image via Google Gemini and ArtSmart This article, "How Long Does a Background Check Take?" was first published on Small Business Trends View the full article

When you’re waiting for a background check, comprehension of the timeline can help you manage your expectations. Typically, these checks take between 2 to 4 business days, depending on various factors. Employment verifications usually take 1 to 3 days, whereas criminal checks may vary considerably based on jurisdiction. Nonetheless, there are several reasons why delays might occur. Curious about what can slow down the process or how to expedite it? Key Takeaways Standard background checks typically take between 2 to 4 business days to complete. Employment verification usually requires 1 to 3 business days, depending on employer responsiveness. Criminal background checks can take 1 to 5 business days, influenced by local or federal searches. Education verifications may range from a few days to over a week, based on institutional responsiveness. Delays can occur due to incomplete information or unresponsive former employers and educational institutions. Understanding Background Check Timelines When you’re managing the hiring process, comprehending background check timelines is vital, as it can greatly affect both you and your potential employer. Typically, how long does a background check take in the U.S.? Expect it to span between 2 to 4 business days for standard checks, whereas international verifications might take 10 to 15 days because of varying data privacy laws. Employment verification usually requires 1 to 3 business days, but delays can happen if past employers are slow to respond. Criminal checks can take from a few hours to several days, depending on the jurisdiction and court efficiency. Education verifications often take several days to over a week, especially during school vacations. Be mindful that incomplete candidate information or slow responses from references can further prolong the process. Comprehending these timelines is vital for a smoother hiring experience. Types of Background Checks When you’re undergoing a background check, it’s important to know the various types involved. Common checks include criminal, employment, education, and motor vehicle records, each with different timing for the verification process. Comprehending these types can help you anticipate how long your background check might take and prepare accordingly. Common Check Types Background checks are essential tools used by employers, landlords, and other organizations to assess an individual’s history and qualifications. Common check types include criminal background checks, which usually take between 1 to 5 business days, depending on the jurisdiction. Employment verifications often take 1 to 3 business days, but delays can happen if former employers are slow to respond. Education verifications can range from a few days to over a week, influenced by institutional responsiveness. Motor vehicle record (MVR) checks typically complete within minutes, thanks to digital databases. Additional checks, like credit history or professional license verifications, may take several days to weeks, depending on the complexity and third-party responsiveness. Verification Process Timing How quickly does the verification process for background checks unfold? The timing varies based on the type of check being conducted. For employment verification, expect 1 to 3 business days. Criminal checks can wrap up within 1 to 2 days for local searches, but federal checks might take up to a week. Education verification timing ranges from a few days to over a week, depending on school responsiveness. Reference checks typically require 2 to 3 business days. Type of Check Average Time Factors Affecting Time Employment Verification 1 to 3 business days Responsiveness of former employers Criminal Background 1 to 2 business days Local vs. federal checks Education Verification Few days to over a week School responsiveness Understanding these timelines can help you know how long does an employment background check take. How Long Does An Employment Background Check Take? Ever wonder how long an employment background check might take? Typically, how long do employment background checks take can vary considerably based on several factors. Usually, the process ranges from a few minutes to five business days. Employment verification, which checks your work history, typically takes one to three business days. This timeline is heavily influenced by how quickly your former employers respond. Education verification can likewise take two to three business days, but delays may occur if schools are on break or unresponsive. Furthermore, if your candidate information is incomplete or if there are additional checks required, this can extend the overall duration of the background check. As a result, it’s important to confirm all your information is accurate and accessible to expedite the process. By comprehending these timelines, you can better manage your expectations during your job application expedition. How Long Does A Criminal Background Check Take? When considering the timeline for a criminal background check, you might wonder what factors affect its duration. Typically, in the U.S., how long does a criminal background check take? For state searches, it usually requires 1 to 2 business days, whereas federal checks can often be completed within a day. Nonetheless, if additional verification or multi-jurisdictional checks are necessary, the process can extend to a few days or even weeks. In the UK, DBS checks take between 2 to 7 days, depending on the required clearance level. International checks can last from 1 week to 4 weeks, influenced by local data privacy laws. Be aware that delays may occur because of incomplete candidate information, slow responses from courts or law enforcement agencies, and the need for manual verification in non-digitized records. Comprehending these factors helps set realistic expectations for your background check timeline. How Long Does An MVR Check Take? When you request an MVR check, you can usually expect it to take just a few minutes, especially with most states offering immediate online access to driving records. Nevertheless, if a manual request is needed, it might stretch to several days, depending on the state’s processing efficiency and demand. Keep in mind that factors like the complexity of a candidate’s driving history can likewise impact how quickly you receive the results. Typical Completion Time Typically, a Motor Vehicle Record (MVR) check can be completed within minutes, thanks to the efficient digital databases maintained by various states. Nevertheless, if manual requests for records are necessary, the turnaround time can extend to a few days. The speed of these checks varies by state; some jurisdictions provide immediate online access, whereas others may require additional processing time. When employers conduct MVR checks, they’re verifying your driving history, which includes license status, violations, and accidents. To help speed up the MVR check process, make certain your identifying information—like your driver’s license number and state of issuance—is accurate and readily available. Factors Affecting Duration Several factors influence how long an MVR check takes to complete. Typically, an MVR check can be finished within minutes, thanks to digital state databases. Nevertheless, if your request requires manual processing, the time frame can extend considerably. The state you’re in also plays an essential role; some states have more digitized records than others, affecting the speed of retrieval. Accessibility to required records is critical—if they’re easy to access, you’ll get faster results. Furthermore, if your check involves multiple states or requires extra information, expect delays. How Long Does Employment Verification Take? How long does employment verification actually take? Typically, it ranges from 1 to 3 business days, but this can vary based on how quickly your previous employers respond. If you have an extensive job history or are verifying international work, expect longer delays. Utilizing services like The Work Number can greatly speed up the process by providing instant employment reports. To give you a clearer idea, check out the table below: Factors Timeframe Notes Responsive Employers 1-3 Business Days Quick replies help expedite. Extensive Job History 3-7 Business Days More details require more time. International Verification 1 week or more Additional checks increase duration. Using Verification Services Instant Services can provide quick results. Keep in mind that preparing your documentation ahead of time can help streamline the process. How Long Does Education Verification Take? When you’re undergoing a background check, the education verification process can vary in duration. It usually takes a few days to over a week, influenced by factors like the responsiveness of the school and whether it’s during a holiday. Providing accurate details about your educational institution can help streamline the process, reducing delays and ensuring quicker results. Duration Variability Factors Though the duration of education verification can vary greatly, it usually takes anywhere from a few days to over a week. Factors influencing this timeline include school responsiveness, holidays, and the verification method used. For instance, automated systems can yield results quickly, whereas manual methods may introduce delays. Factor Impact on Duration School Holidays Can extend wait times Verification Method Automated is faster Third-party Reliance May slow down the process Candidate’s Details More details speed up checks Institutional Policies Varies by school Verification Process Steps Comprehending the verification process steps for education can help you anticipate how long it might take to complete. Education verification typically takes anywhere from a few days to over a week, largely depending on how responsive the institutions are. If the school uses third-party verification services, or if you provide detailed information about your academic history, the process can be expedited. Precise details, such as the institution’s name and graduation dates, minimize back-and-forth communication, speeding things up. Nevertheless, keep in mind that delays can occur during school vacations when staff may be unavailable. For international education verifications, expect longer durations because of different processes and potential translation needs, which eventually affects how long does a work background check take. Impact of School Holidays School holidays can greatly impact the timeline of education verification. When you’re asking how long does it take to receive a background check, keep in mind that educational institutions may have reduced staff or be closed during these breaks. This can lead to delays, as verifying degrees and attendance dates often requires reaching out to schools directly. Normally, education verifications take 2 to 3 business days, but during peak times like summer vacations or holidays, this duration can extend considerably. To help speed up the process, providing precise details about your school, such as attendance dates and degree information, can minimize back-and-forth communication and ultimately reduce delays in your background check. How Long Does A State Background Check Take? When you’re curious about how long a state background check takes, it’s important to recognize that the timeframe can vary greatly based on several factors. Typically, a state background check can take one to two business days. Nevertheless, the specific state and record accessibility play vital roles. Factor Timeframe Online Searchable States Within 1 business day Manual Requests 2+ business days Non-Digitized Records Longer than average If a state has an extensive database and streamlined processes, you’ll likely see faster results. On the other hand, states with less digital infrastructure may take longer. Remember, if there are discrepancies or additional information needed, it could delay how long the background check takes. Grasping these factors can help manage your expectations effectively. What Can Cause Delays In The Background Check Process? Several factors can lead to delays in the background check process, impacting how quickly you receive results. If you provide incomplete or inaccurate information, such as the wrong Social Security number or outdated addresses, it can considerably slow things down. Furthermore, delays from former employers or educational institutions when verifying your history can extend the overall timeline by several days. In jurisdictions with non-digitized records, accessing necessary documents may require in-person visits, which likewise introduces delays. If your check involves multiple jurisdictions or international searches, varying regulations can prolong processing times. Finally, using aliases or nicknames can complicate searches, requiring extra time to confirm that all relevant records are accurately identified and verified. As a result, comprehending these potential setbacks is vital when considering how long a background check can take. Speed Up Your Background Check Process With GoodHire To streamline your hiring process, GoodHire offers a fast and efficient background check solution that can help you get results in just a few minutes. By leveraging digital databases and advanced technology, GoodHire guarantees that you understand how long a pre-employment background check takes, minimizing delays and inaccuracies. Here’s how GoodHire improves your experience: Feature Benefits Impact on Time Digital databases Quick access to information Reduces search time Candidate portals Fast consent gathering Speeds up verification Low dispute rate Accurate initial results Minimizes rechecks Streamlined processes Efficient data collection Shortens overall timeline With GoodHire, you can expect a smooth candidate experience and maintain a qualified hiring pipeline without unnecessary delays. Goodhire’S Platform Is Built to Optimize Turnaround Times GoodHire’s platform is designed with a primary focus on optimizing turnaround times for background checks, ensuring that employers receive timely results without sacrificing accuracy. Typically, you’ll find that how long it takes a background check to come back can be just a few minutes, thanks to GoodHire’s use of advanced technology and digital databases. This approach streamlines the hiring process, allowing you to make faster decisions. The platform additionally boasts a low dispute rate, reflecting the high accuracy of the results, which helps maintain a qualified hiring pipeline and minimizes candidate drop-off. Compliance with FCRA regulations is another critical feature, as GoodHire provides educational insights for employers on necessary steps if adverse action is taken. By emphasizing quick results and transparency, GoodHire not only improves the efficiency of the background check process but also elevates the overall candidate experience, making it smoother and more straightforward for everyone involved. Frequently Asked Questions How Long Do Most Pre-Employment Background Checks Take? Most pre-employment background checks take between 2 to 4 business days to complete. Local criminal checks usually wrap up in about 1 to 2 days, whereas federal checks can extend to a week or more. Employment verification typically requires 1 to 3 business days, but delays can arise if former employers are slow to respond. Education verifications might take a few days to over a week, depending on the institution’s responsiveness. What Is a Red Flag in a Background Check? A red flag in a background check indicates discrepancies or concerning information about a candidate. This can include undisclosed criminal records, inconsistent employment history, or unexplained gaps in employment. Furthermore, inaccuracies like misspelled names or incorrect dates can raise concerns. Although a red flag doesn’t automatically disqualify you, it often prompts employers to seek clarification. Comprehending the context behind these issues is vital for informed hiring decisions. What’s the Fastest a Background Check Can Be Done? The fastest a background check can be completed is often within minutes, especially for Motor Vehicle Record checks, which access digital state databases. Criminal checks may take just one day for federal searches. Employment verification can as well be expedited via services like The Work Number. Education verifications are quick too, particularly with resources like the National Student Clearinghouse, even if they might take longer during school breaks. How Do I Know if I Will Pass a Background Check? To know if you’ll pass a background check, start by reviewing your criminal history for any issues. Make certain your employment and education details are accurate, as verification can reveal discrepancies. Consider any aliases that might complicate searches. In addition, outstanding legal matters can impact your results. Finally, keep in mind that you must give consent for the check, and submitting your documents without delay can help avoid setbacks in the process. Conclusion In conclusion, the duration of a background check can vary based on the type and complexity of the verification needed. Employment checks typically take 1 to 3 days, whereas criminal checks may extend from a few hours to several days, depending on the jurisdiction. Delays can arise from incomplete information or unresponsive sources. By comprehending these timelines and potential issues, you can better navigate the background check process and guarantee a smoother experience. Image via Google Gemini and ArtSmart This article, "How Long Does a Background Check Take?" was first published on Small Business Trends View the full article

Before investing in a franchise, it’s essential to gather specific information from the franchisor. You need to understand the total investment required, any ongoing fees, and the type of training and support offered. Furthermore, evaluating the franchisor’s experience and marketing strategy can provide insights into their reliability and potential for success. Knowing these details helps you make a more informed decision about your investment. So, what questions should you prioritize? Key Takeaways Request a detailed breakdown of the total investment required, including initial fees and ongoing costs to avoid unexpected expenses. Inquire about the training and support provided by the franchisor, including initial training duration and access to ongoing resources. Assess the franchisor’s track record by reviewing their business history, franchise failure rates, and financial performance representations in the FDD. Analyze the local market potential and competitive environment to ensure there is demand for the franchise’s products or services. Clarify the terms of the franchise agreement, including sourcing restrictions, renewal options, and responsibilities to understand long-term implications. What Is the Total Investment Required? When considering a franchise opportunity, you might wonder, what exactly does the total investment entail? The total investment required goes beyond the initial franchise fee; it includes real estate, equipment, supplies, and working capital, which can vary considerably by brand and location. To avoid unexpected expenses, you should ask the franchisor for a detailed breakdown of all costs involved. This is one of the vital franchise questions to ask franchisors. Comprehending your complete financial commitment is critical for evaluating whether the franchise aligns with your budget and financial goals. Furthermore, inquire about any financing options or support available to help you manage the total investment required effectively, ensuring you’re well-prepared before signing any agreements. What Are the Ongoing Fees? When considering a franchise, it’s essential to understand the ongoing fees that come with it. Royalty fees typically range from 4% to 8% of your gross sales, whereas marketing fees may add another 1% to 4%, depending on the franchise agreement. Furthermore, be prepared for other operational costs like supply chain expenses and insurance that won’t always be outlined in the Franchise Disclosure Document. Royalty Fees Overview Royalty fees are a crucial aspect of the franchise model, typically ranging from 4% to 8% of your gross sales. These ongoing fees, paid monthly, fund the franchisor’s support services, marketing initiatives, and brand development. In addition to royalty fees, you may need to contribute to a national or regional marketing fund, which can add another 1% to 4% of your sales. It’s important to clarify whether these fees are calculated before or after deductions like taxes and discounts, as this can affect your profitability. When discussing royalty fees, be sure to ask franchise questions that cover the frequency and method of payment, ensuring you fully understand your financial obligations before committing to a franchise agreement. Additional Costs Considerations Comprehending ongoing fees is crucial to evaluating the overall financial commitment of a franchise. Ongoing fees typically include royalty fees, which range from 4% to 10% of your gross sales, and marketing fees that can add another 1% to 5%. It’s important to clarify how often these payments are made, as they can be weekly or monthly, affecting your cash flow. You should also take into account additional operational costs like technology fees and contributions to national advertising funds. Don’t overlook potential minimum purchase requirements from approved suppliers, which could create unexpected expenses. When reviewing franchise agreements, ask the right questions to ask when franchising, including those from the 50 questions to ask a franchisor and insights from franchise owners. What Kind of Training and Support Is Provided? How well a franchisor equips you with training and support can profoundly impact your success. Start by inquiring about the initial training program‘s duration and content, which should cover operational procedures, customer service, and sales techniques. This guarantees you have a solid foundation before opening. Ask if ongoing training opportunities, like workshops or webinars, are available to keep you updated on industry trends and improvements. Confirm access to support materials, such as manuals and training videos, that can aid you and your staff in daily operations. Evaluate the level of field support, including visits from franchise consultants, and understand the franchisor’s marketing support approach, including local strategies and national campaigns, to drive customer engagement effectively. What Are the Franchisor’S Expectations of Franchisees? When considering a franchise, it’s vital to understand what the franchisor expects from you as a franchisee. You’ll need to commit a specific number of hours to manage the business effectively, follow operational standards to guarantee brand consistency, and engage in ongoing training. Moreover, clear communication with the franchisor is critical for maintaining a successful partnership and meeting their operational goals. Desired Skill Set What skills do franchisors expect from their franchisees to secure a successful partnership? To thrive in this relationship, you’ll need to demonstrate certain key abilities: Leadership Skills: You must effectively manage staff and operations during upholding brand standards. Financial Acumen: It’s vital to manage budgets, analyze financial performance, and guarantee profitability to keep the business thriving. Communication Skills: Strong communication is fundamental for liaising with the franchisor, staff, and customers, making sure everyone is aligned with franchise goals. Moreover, a hands-on approach is often required, as you’ll be actively involved in daily operations and customer interactions. Being adaptable and open to ongoing training will likewise help you maximize the support offered by the franchisor. 2. Operational Commitment Required Franchisors have specific expectations regarding the operational commitment required from franchisees, which is essential for a successful partnership. You should clarify the daily operational duties expected, including management responsibilities and employee oversight, to guarantee alignment with your personal commitment level. Comprehending the time commitment is critical; some franchises may require full-time involvement, whereas others could allow for part-time engagement. Franchise agreements often outline specific performance metrics and operational standards, such as sales targets and customer service protocols. It’s important to assess whether the franchisor expects your hands-on involvement in daily operations or if you can hire staff to manage tasks on your behalf. Moreover, inquire about ongoing training and support to help you meet these operational expectations effectively. 3. Communication Expectations How can effective communication between you and your franchisor influence your business’s success? Clear communication is key to meeting expectations, maintaining brand standards, and ultimately accomplishing your financial goals. Here are three critical expectations franchisors often have for franchisees: Time Commitment: You’re expected to dedicate a specific number of hours each week to manage daily operations, including staff oversight and customer service. Performance Reporting: Regular submission of sales reports and adherence to operational metrics is required to gauge your franchise’s success. Engagement in Training: Participation in scheduled meetings and training sessions is necessary to align with brand goals and guarantee consistency. Understanding these expectations can help you cultivate a productive relationship with your franchisor, leading to a more successful business. What Is the Franchisor’S Track Record? When evaluating a franchisor’s track record, it’s critical to explore their history and performance metrics. Start by examining how long they’ve been in business and the number of franchises currently operating under their brand. Next, assess the franchise’s failure rate by reviewing the Franchise Disclosure Document (FDD), particularly Item 20, which details closed or terminated franchises in recent years. Moreover, look at financial performance representations in Item 19 of the FDD to grasp average sales and profitability of existing units. Analyze trends in franchise growth, including year-over-year expansion rates, to determine market stability. Finally, seek feedback from current franchisees about their success and satisfaction levels, as this can reveal the franchisor’s support and operational effectiveness. What Is the Franchise’S Market Potential? What factors contribute to a franchise’s market potential? Comprehending these elements is vital before making an investment decision. Here are three key aspects to take into account: Local Market Demand: Analyze the demand for the franchise’s products or services. Look at demographic trends and consumer preferences to guarantee they align with your target audience. Competitive Environment: Evaluate local competitors and their market positioning. This helps identify potential challenges and opportunities for growth. Franchisor’s Research: Inquire if the franchisor has conducted market research highlighting growth projections and consumer demand trends in the industry. What Is the Franchisor’S Marketing Strategy? When evaluating a franchisor’s marketing strategy, you should explore the marketing channels they utilize, as these greatly impact brand visibility. It’s likewise crucial to understand any brand awareness initiatives they implement and how they support local marketing efforts for franchisees. Marketing Channels Utilized How effectively does the franchisor utilize various marketing channels to promote the brand? Comprehending their strategy is vital for your investment decision. You’ll want to ask about: National Campaigns: Does the franchisor run effective nationwide marketing initiatives that improve brand visibility? Digital Advertising: How do they leverage online platforms to reach potential customers and engage with them? Local Marketing Support: What resources do they provide for franchisees to guarantee successful community outreach? Additionally, inquire about how marketing fees are allocated and whether local marketing responsibilities fall on you or the franchisor. Finally, ask for metrics or case studies showing the success of their marketing efforts, as this will help assess their effectiveness in driving franchise growth. Brand Awareness Initiatives Brand awareness initiatives play a pivotal role in the overall marketing strategy of a franchisor, influencing how potential customers perceive the brand in the marketplace. It’s crucial to ask about the franchisor’s national marketing efforts, including how much they allocate to advertising campaigns and brand promotion. Comprehending the effectiveness of past marketing campaigns can provide insight into measurable outcomes like increased foot traffic or sales growth. You’ll want to clarify if franchisees are responsible for their local marketing initiatives and what support the franchisor offers for training or guidance. Furthermore, inquire about ongoing marketing fees and how these funds are utilized for both national and local marketing efforts to guarantee transparency in financial matters related to brand awareness. Local Marketing Support What specific local marketing support can you expect from the franchisor? Comprehending how the franchisor aids local marketing efforts is essential. Here are three key areas to explore: Marketing Budget: Ask about the budget for national campaigns and how it benefits your local market. Local Initiative Guidance: Clarify whether you’ll create local marketing initiatives or if the franchisor provides resources and templates. Utilization of Fees: Inquire how marketing fees are allocated, ensuring some funds support your local campaigns. Additionally, consider the effectiveness of the franchisor’s marketing tools, like social media templates or print materials. Look for success stories from current franchisees to gauge the support’s impact on attracting and retaining customers. Are There Any Restrictions on Sourcing Products or Services? When considering a franchise opportunity, it’s crucial to grasp if there are any restrictions on sourcing products or services. Many franchises require you to purchase exclusively from approved vendors, which can limit your supply chain flexibility and affect pricing. These restrictions may hinder your ability to negotiate better rates or explore alternative suppliers, in the end impacting your profitability. Comprehending the specific vendors and products mandated by the franchisor helps you assess compatibility with your operational preferences and local market conditions. Furthermore, inquire about any penalties for sourcing outside the approved vendor list, as this could lead to legal or financial repercussions. Finally, evaluate the quality of approved vendors, as their reliability directly influences your ability to meet customer expectations. What Are the Terms of the Franchise Agreement? Grasping the terms of the franchise agreement is crucial for your long-term success as a franchisee. Comprehending these terms helps you navigate your responsibilities and rights effectively. Here are three key aspects to reflect on: Duration and Renewal: The agreement typically lasts between 5 to 20 years, with renewal options based on your performance and adherence to the terms. Territory Rights: Verify the agreement specifies your exclusive territory to protect against competition from other franchisees. Termination Conditions: Familiarize yourself with the grounds for termination and the procedures for exiting the business to avoid unexpected complications. Can I Speak With Current Franchisees? Have you considered the value of speaking with current franchisees before committing to a franchise? Engaging with them can offer essential insights into the franchisor’s support, operational challenges, and satisfaction with the business model. Franchisees often share their experiences regarding profitability timelines, helping you determine if financial projections match reality. By talking to multiple franchisees, you gain a broader comprehension of the franchise’s culture, communication practices, and how responsive the franchisor is to concerns. It’s wise to ask about the average duration current franchisees have been in operation to assess stability. Finally, gather feedback on initial training and ongoing support to evaluate the adequacy of resources provided by the franchisor. This information is critical for your investment decision. Frequently Asked Questions What Questions Should I Ask a Franchisor? When considering a franchisor, ask about the total investment, including initial fees, real estate, and ongoing costs like royalties. Inquire about the training and support provided, as it’s essential for your success. Clarify their expectations regarding your time commitment and operational involvement to guarantee it aligns with your lifestyle. Research their track record by reviewing the number of franchises, success rates, and seek feedback from current franchisees about their experiences. What to Know Before Investing in a Franchise? Before investing in a franchise, you need to understand the Franchise Disclosure Document (FDD), which provides essential financial information and the franchisor’s legal history. Assess the total financial commitment, including initial fees and ongoing royalties. Talk to current and former franchisees to learn about their experiences and support from the franchisor. Conduct market research to evaluate demand for the franchise in your area, and consider seeking advice from professionals like franchise attorneys and financial consultants. What Are the 4 P’s of Franchising? The 4 P’s of franchising are Product, Price, Place, and Promotion. Product refers to the unique offerings that set the franchise apart and fulfill consumer needs. Price involves the franchise fees and royalties, influencing profitability. Place highlights the locations where the franchise operates, essential for expansion and market reach. Finally, Promotion covers the marketing strategies used to attract customers, including national campaigns and local support for franchisees, ensuring brand visibility and competitiveness. What Is the 7 Day Rule for Franchise? The 7 Day Rule requires franchisors to provide you with a Franchise Disclosure Document (FDD) at least seven days before you sign any agreement or make a payment. This rule guarantees you have enough time to carefully review the FDD, which outlines crucial details about fees, obligations, and financial performance. Conclusion In summary, asking the right questions before investing in a franchise is essential for making an informed decision. By comprehending the total investment, ongoing fees, and the support provided, you can better assess the opportunity. Evaluating the franchisor’s experience, marketing strategy, and franchise agreement terms will help clarify your expectations. Furthermore, speaking with current franchisees gives you valuable insights into the business. Thorough research and communication are key to securing a successful franchise investment. Image via Google Gemini and ArtSmart This article, "10 Essential Questions to Ask a Franchisor Before Investing" was first published on Small Business Trends View the full article

Before investing in a franchise, it’s essential to gather specific information from the franchisor. You need to understand the total investment required, any ongoing fees, and the type of training and support offered. Furthermore, evaluating the franchisor’s experience and marketing strategy can provide insights into their reliability and potential for success. Knowing these details helps you make a more informed decision about your investment. So, what questions should you prioritize? Key Takeaways Request a detailed breakdown of the total investment required, including initial fees and ongoing costs to avoid unexpected expenses. Inquire about the training and support provided by the franchisor, including initial training duration and access to ongoing resources. Assess the franchisor’s track record by reviewing their business history, franchise failure rates, and financial performance representations in the FDD. Analyze the local market potential and competitive environment to ensure there is demand for the franchise’s products or services. Clarify the terms of the franchise agreement, including sourcing restrictions, renewal options, and responsibilities to understand long-term implications. What Is the Total Investment Required? When considering a franchise opportunity, you might wonder, what exactly does the total investment entail? The total investment required goes beyond the initial franchise fee; it includes real estate, equipment, supplies, and working capital, which can vary considerably by brand and location. To avoid unexpected expenses, you should ask the franchisor for a detailed breakdown of all costs involved. This is one of the vital franchise questions to ask franchisors. Comprehending your complete financial commitment is critical for evaluating whether the franchise aligns with your budget and financial goals. Furthermore, inquire about any financing options or support available to help you manage the total investment required effectively, ensuring you’re well-prepared before signing any agreements. What Are the Ongoing Fees? When considering a franchise, it’s essential to understand the ongoing fees that come with it. Royalty fees typically range from 4% to 8% of your gross sales, whereas marketing fees may add another 1% to 4%, depending on the franchise agreement. Furthermore, be prepared for other operational costs like supply chain expenses and insurance that won’t always be outlined in the Franchise Disclosure Document. Royalty Fees Overview Royalty fees are a crucial aspect of the franchise model, typically ranging from 4% to 8% of your gross sales. These ongoing fees, paid monthly, fund the franchisor’s support services, marketing initiatives, and brand development. In addition to royalty fees, you may need to contribute to a national or regional marketing fund, which can add another 1% to 4% of your sales. It’s important to clarify whether these fees are calculated before or after deductions like taxes and discounts, as this can affect your profitability. When discussing royalty fees, be sure to ask franchise questions that cover the frequency and method of payment, ensuring you fully understand your financial obligations before committing to a franchise agreement. Additional Costs Considerations Comprehending ongoing fees is crucial to evaluating the overall financial commitment of a franchise. Ongoing fees typically include royalty fees, which range from 4% to 10% of your gross sales, and marketing fees that can add another 1% to 5%. It’s important to clarify how often these payments are made, as they can be weekly or monthly, affecting your cash flow. You should also take into account additional operational costs like technology fees and contributions to national advertising funds. Don’t overlook potential minimum purchase requirements from approved suppliers, which could create unexpected expenses. When reviewing franchise agreements, ask the right questions to ask when franchising, including those from the 50 questions to ask a franchisor and insights from franchise owners. What Kind of Training and Support Is Provided? How well a franchisor equips you with training and support can profoundly impact your success. Start by inquiring about the initial training program‘s duration and content, which should cover operational procedures, customer service, and sales techniques. This guarantees you have a solid foundation before opening. Ask if ongoing training opportunities, like workshops or webinars, are available to keep you updated on industry trends and improvements. Confirm access to support materials, such as manuals and training videos, that can aid you and your staff in daily operations. Evaluate the level of field support, including visits from franchise consultants, and understand the franchisor’s marketing support approach, including local strategies and national campaigns, to drive customer engagement effectively. What Are the Franchisor’S Expectations of Franchisees? When considering a franchise, it’s vital to understand what the franchisor expects from you as a franchisee. You’ll need to commit a specific number of hours to manage the business effectively, follow operational standards to guarantee brand consistency, and engage in ongoing training. Moreover, clear communication with the franchisor is critical for maintaining a successful partnership and meeting their operational goals. Desired Skill Set What skills do franchisors expect from their franchisees to secure a successful partnership? To thrive in this relationship, you’ll need to demonstrate certain key abilities: Leadership Skills: You must effectively manage staff and operations during upholding brand standards. Financial Acumen: It’s vital to manage budgets, analyze financial performance, and guarantee profitability to keep the business thriving. Communication Skills: Strong communication is fundamental for liaising with the franchisor, staff, and customers, making sure everyone is aligned with franchise goals. Moreover, a hands-on approach is often required, as you’ll be actively involved in daily operations and customer interactions. Being adaptable and open to ongoing training will likewise help you maximize the support offered by the franchisor. 2. Operational Commitment Required Franchisors have specific expectations regarding the operational commitment required from franchisees, which is essential for a successful partnership. You should clarify the daily operational duties expected, including management responsibilities and employee oversight, to guarantee alignment with your personal commitment level. Comprehending the time commitment is critical; some franchises may require full-time involvement, whereas others could allow for part-time engagement. Franchise agreements often outline specific performance metrics and operational standards, such as sales targets and customer service protocols. It’s important to assess whether the franchisor expects your hands-on involvement in daily operations or if you can hire staff to manage tasks on your behalf. Moreover, inquire about ongoing training and support to help you meet these operational expectations effectively. 3. Communication Expectations How can effective communication between you and your franchisor influence your business’s success? Clear communication is key to meeting expectations, maintaining brand standards, and ultimately accomplishing your financial goals. Here are three critical expectations franchisors often have for franchisees: Time Commitment: You’re expected to dedicate a specific number of hours each week to manage daily operations, including staff oversight and customer service. Performance Reporting: Regular submission of sales reports and adherence to operational metrics is required to gauge your franchise’s success. Engagement in Training: Participation in scheduled meetings and training sessions is necessary to align with brand goals and guarantee consistency. Understanding these expectations can help you cultivate a productive relationship with your franchisor, leading to a more successful business. What Is the Franchisor’S Track Record? When evaluating a franchisor’s track record, it’s critical to explore their history and performance metrics. Start by examining how long they’ve been in business and the number of franchises currently operating under their brand. Next, assess the franchise’s failure rate by reviewing the Franchise Disclosure Document (FDD), particularly Item 20, which details closed or terminated franchises in recent years. Moreover, look at financial performance representations in Item 19 of the FDD to grasp average sales and profitability of existing units. Analyze trends in franchise growth, including year-over-year expansion rates, to determine market stability. Finally, seek feedback from current franchisees about their success and satisfaction levels, as this can reveal the franchisor’s support and operational effectiveness. What Is the Franchise’S Market Potential? What factors contribute to a franchise’s market potential? Comprehending these elements is vital before making an investment decision. Here are three key aspects to take into account: Local Market Demand: Analyze the demand for the franchise’s products or services. Look at demographic trends and consumer preferences to guarantee they align with your target audience. Competitive Environment: Evaluate local competitors and their market positioning. This helps identify potential challenges and opportunities for growth. Franchisor’s Research: Inquire if the franchisor has conducted market research highlighting growth projections and consumer demand trends in the industry. What Is the Franchisor’S Marketing Strategy? When evaluating a franchisor’s marketing strategy, you should explore the marketing channels they utilize, as these greatly impact brand visibility. It’s likewise crucial to understand any brand awareness initiatives they implement and how they support local marketing efforts for franchisees. Marketing Channels Utilized How effectively does the franchisor utilize various marketing channels to promote the brand? Comprehending their strategy is vital for your investment decision. You’ll want to ask about: National Campaigns: Does the franchisor run effective nationwide marketing initiatives that improve brand visibility? Digital Advertising: How do they leverage online platforms to reach potential customers and engage with them? Local Marketing Support: What resources do they provide for franchisees to guarantee successful community outreach? Additionally, inquire about how marketing fees are allocated and whether local marketing responsibilities fall on you or the franchisor. Finally, ask for metrics or case studies showing the success of their marketing efforts, as this will help assess their effectiveness in driving franchise growth. Brand Awareness Initiatives Brand awareness initiatives play a pivotal role in the overall marketing strategy of a franchisor, influencing how potential customers perceive the brand in the marketplace. It’s crucial to ask about the franchisor’s national marketing efforts, including how much they allocate to advertising campaigns and brand promotion. Comprehending the effectiveness of past marketing campaigns can provide insight into measurable outcomes like increased foot traffic or sales growth. You’ll want to clarify if franchisees are responsible for their local marketing initiatives and what support the franchisor offers for training or guidance. Furthermore, inquire about ongoing marketing fees and how these funds are utilized for both national and local marketing efforts to guarantee transparency in financial matters related to brand awareness. Local Marketing Support What specific local marketing support can you expect from the franchisor? Comprehending how the franchisor aids local marketing efforts is essential. Here are three key areas to explore: Marketing Budget: Ask about the budget for national campaigns and how it benefits your local market. Local Initiative Guidance: Clarify whether you’ll create local marketing initiatives or if the franchisor provides resources and templates. Utilization of Fees: Inquire how marketing fees are allocated, ensuring some funds support your local campaigns. Additionally, consider the effectiveness of the franchisor’s marketing tools, like social media templates or print materials. Look for success stories from current franchisees to gauge the support’s impact on attracting and retaining customers. Are There Any Restrictions on Sourcing Products or Services? When considering a franchise opportunity, it’s crucial to grasp if there are any restrictions on sourcing products or services. Many franchises require you to purchase exclusively from approved vendors, which can limit your supply chain flexibility and affect pricing. These restrictions may hinder your ability to negotiate better rates or explore alternative suppliers, in the end impacting your profitability. Comprehending the specific vendors and products mandated by the franchisor helps you assess compatibility with your operational preferences and local market conditions. Furthermore, inquire about any penalties for sourcing outside the approved vendor list, as this could lead to legal or financial repercussions. Finally, evaluate the quality of approved vendors, as their reliability directly influences your ability to meet customer expectations. What Are the Terms of the Franchise Agreement? Grasping the terms of the franchise agreement is crucial for your long-term success as a franchisee. Comprehending these terms helps you navigate your responsibilities and rights effectively. Here are three key aspects to reflect on: Duration and Renewal: The agreement typically lasts between 5 to 20 years, with renewal options based on your performance and adherence to the terms. Territory Rights: Verify the agreement specifies your exclusive territory to protect against competition from other franchisees. Termination Conditions: Familiarize yourself with the grounds for termination and the procedures for exiting the business to avoid unexpected complications. Can I Speak With Current Franchisees? Have you considered the value of speaking with current franchisees before committing to a franchise? Engaging with them can offer essential insights into the franchisor’s support, operational challenges, and satisfaction with the business model. Franchisees often share their experiences regarding profitability timelines, helping you determine if financial projections match reality. By talking to multiple franchisees, you gain a broader comprehension of the franchise’s culture, communication practices, and how responsive the franchisor is to concerns. It’s wise to ask about the average duration current franchisees have been in operation to assess stability. Finally, gather feedback on initial training and ongoing support to evaluate the adequacy of resources provided by the franchisor. This information is critical for your investment decision. Frequently Asked Questions What Questions Should I Ask a Franchisor? When considering a franchisor, ask about the total investment, including initial fees, real estate, and ongoing costs like royalties. Inquire about the training and support provided, as it’s essential for your success. Clarify their expectations regarding your time commitment and operational involvement to guarantee it aligns with your lifestyle. Research their track record by reviewing the number of franchises, success rates, and seek feedback from current franchisees about their experiences. What to Know Before Investing in a Franchise? Before investing in a franchise, you need to understand the Franchise Disclosure Document (FDD), which provides essential financial information and the franchisor’s legal history. Assess the total financial commitment, including initial fees and ongoing royalties. Talk to current and former franchisees to learn about their experiences and support from the franchisor. Conduct market research to evaluate demand for the franchise in your area, and consider seeking advice from professionals like franchise attorneys and financial consultants. What Are the 4 P’s of Franchising? The 4 P’s of franchising are Product, Price, Place, and Promotion. Product refers to the unique offerings that set the franchise apart and fulfill consumer needs. Price involves the franchise fees and royalties, influencing profitability. Place highlights the locations where the franchise operates, essential for expansion and market reach. Finally, Promotion covers the marketing strategies used to attract customers, including national campaigns and local support for franchisees, ensuring brand visibility and competitiveness. What Is the 7 Day Rule for Franchise? The 7 Day Rule requires franchisors to provide you with a Franchise Disclosure Document (FDD) at least seven days before you sign any agreement or make a payment. This rule guarantees you have enough time to carefully review the FDD, which outlines crucial details about fees, obligations, and financial performance. Conclusion In summary, asking the right questions before investing in a franchise is essential for making an informed decision. By comprehending the total investment, ongoing fees, and the support provided, you can better assess the opportunity. Evaluating the franchisor’s experience, marketing strategy, and franchise agreement terms will help clarify your expectations. Furthermore, speaking with current franchisees gives you valuable insights into the business. Thorough research and communication are key to securing a successful franchise investment. Image via Google Gemini and ArtSmart This article, "10 Essential Questions to Ask a Franchisor Before Investing" was first published on Small Business Trends View the full article

We may earn a commission from links on this page. From humble beginnings, Taylor Sheridan's Yellowstone has grown into TV's one inescapable franchise. The Kevin Costner-led original ended its run after a relatively compact five seasons, but that doesn't reckon with the three official spin-offs, the three others in development, nor with the Sheridan shows (Landman, The Madison, Bass Reeves) that feel like they could extensions of the Yellowstone universe, even if they technically aren't. But given that success only feeds our appetite for more, here are 15 other shows that play with the themes and tones that have made Yellowstone such a phenomenon. The Madison (2026 – ) I don't want to make this a list nothing but Taylor Sheridan shows, but they're definitely a vibe. It's early days yet for the latest, but it's already been renewed for a second season, a testament to the power of its creator and the inspired casting of Michelle Pfeiffer in the lead. She plays Stacy Clyburn, the matriarch of a rich New York family who decides to pick up stakes following a tragedy, reconnecting with what she's lost by visiting her late husband's isolated piece of land in Montana for a break from the show's horror-movie version of NYC. In the process she learns lessons about love, grief, and fishing in the folksy great outdoors. Stream The Madison on Paramount+. The Madison (2026 – ) at Paramount+ Learn More Learn More at Paramount+ Queen Sugar (2016 – 2022) Another intense family business drama with a dash of a succession crisis. In Queen Sugar, three estranged siblings in distant cities are brought together by the death of their father, who has left them each an equal share in an 800-acre sugarcane farm in rural Louisiana. The Ava DuVernay-produced (and sometimes directed) series offers plenty of scandal and soapy drama, but ultimately, it’s a show about a family coming back together to preserve its legacy. Stream Queen Sugar on Hulu. Queen Sugar (2016 – 2022) at Hulu Learn More Learn More at Hulu Landman (2024 – ) Thornton plays Billy Norris, a crackerjack consultant, fixer, and general hired gun for a major oil conglomerate in present-day West Texas. Beyond the complicated economics and politics of the oil industry, the poor guy's also dealing with extremely complicated family drama, debt, criminal ties, and substance-abuse issues. Call it Dallas for a new generation. Stream Landman on Paramount+. Landman (2024 – ) at Paramount+ Learn More Learn More at Paramount+ Dallas (1978 – 1991, 2012 – 2014) Speaking of, you can draw a pretty straight line between the Duttons of Yellowstone and the Ewings of Dallas, even if they're separated by time and state lines. (Also, the Texas-based Ewings specialize in Big Oil, with only a sideline in cattle ranching.) Led by Larry Hagman's implacable J.R., the primetime soap finds the family caught up in more than a decade's worth of shady business deals and personal trials, often overlapping (as when Ewing heir Bobby elopes with Pam, from the rival Barnes family). The revival series, a direct continuation, is also pretty fun: Patrick Duffy, Linda Gray and Larry Hagman return, joined by a new generation of greedy, horny oil tycoon types, led by Josh Henderson, Jesse Metcalf, and Jordana Brewster. Buy Dallas from Prime Video, same for the revival. Dallas (1978 – 1991) at Prime Video Learn More Learn More at Prime Video Mayor of Kingstown (2021 – ) Another Taylor Sheridan creation, this one stars Jeremy Renner as Mike McLusky, head of a family that’s been keeping the peace, more or less, in the title's company town for decades. The "business" of the corrupt burg just happens to be incarceration, and the McLuskys thrive when business is up, even if Mike himself has different ideas about how to run things. The show deals, at least broadly, with systemic racism and inequality in the prison system, but mostly it's a modern day western about bringing justice to a corrupt town. Stream Mayor of Kingstown on Paramount+. Mayor of Kingstown (2021 – ) at Paramount+ Learn More Learn More at Paramount+ 1923 (2022– 2025) Hard to ignore the casting here: There’s certainly some TV work on the CVs of both Helen Mirren and Harrison Ford, but getting these two legends together for a spin-off series certainly represents a coup (especially when you throw in Timothy Dalton as the baddie). In this mid-quel, set between Yellowstone prime and the more western-themed 1883, the show sees the Dutton family of the era take on Prohibition, with the Great Depression looming in the background. Stream 1923 on Paramount+. 1923 (2022– 2025) at Paramount+ Learn More Learn More at Paramount+ Joe Pickett (2021 – 2023) A vibe match that, while it doesn't replicate Yellowstone's family and business drama, still runs with the neo-western feel that defines a Taylor Sheridan show. Michael Dorman stars as Joe Pickett, a Wyoming game warden with a violent past and, well, a violent present too. Pickett is less of a tough action hero type, and more of a likable, everyday guy who just happens to be wrapped up in a murder via his day job. It’s not a comedy, but is definitely a bit weirder and more surreal than the more literal style of other modern neo-westerns, which generally lack flourishes like Pickett's memorable emu wrestling scene. Stream Joe Pickett on Paramount+. Joe Pickett at Paramount+ Learn More Learn More at Paramount+ The Son (2017 – 2019) The popularity of Taylor Sheridan-esque neo-westerns leads us, inevitably, to something closer to an actual western. In this series, adapting Philipp Meyer's 2013 Pulitzer Prize-nominated novel of the same name, Pierce Brosnan plays Eli McCullough, a ruthless cattle baron making moves to get in on the burgeoning oil industry in the Rio Grande Valley of 1915. A parallel narrative sees Eli as a young man, kidnapped and raised among a Nʉmʉnʉʉ family. While his backstory lends the character welcome complexity, in the present, he's as determined to build his empire as he is to prepare his son and grandson to take over when he's gone. Stream The Son on Prime Video. The Son (2017 – 2019) at Prime Video Learn More Learn More at Prime Video Reservation Dogs (2021 – 2023) While including several Indigenous actors and characters, Yellowstone gets...let's say mixed marks when it comes to representation. Though minus the big-business stakes of yellowstone, Reservation Dogs plays in a similar neo-western landscape, following a group of teens from the Muscogee Nation who resolve to honor the death of their friend by making a trip to California, experiencing a broader world for the first time. From producer/director/writer and Seminole citizen and Sterlin Harjo (alongside Taika Waititi), it's a dramedy that manages to bring both solid laughs and moments of heartbreak in dealing with issues and emotions common to rural teenagers who dream of going elsewhere, yet specific to these Oklahoma Rez teenagers. Stream Reservation Dogs on Hulu. Reservation Dogs (2021 – 2023) at Hulu Learn More Learn More at Hulu Empire (2015 – 2020) Terrence Howard leads an impressive cast (among them Taraji P. Henson, Gabourey Sidibe, and Vivica A. Fox) in this juicy, glossy, hip-hop infused soap opera. Howard plays Lucious Jackson (neé drug dealer Dwight Walker), who changed his own fortunes by building Empire Entertainment from the ground up. As the series begins, the music mogul is diagnosed with ALS and given a life expectancy of only a few more years. Refusing to watch his work die, he sets his three sons at odds to determine who’ll be the one to control things when he’s gone. His schemes are complicated by the release from prison of Cookie Lyon (Henson), the co-founder of the company and Jackson’s ex-wife. Drama! Stream Empire on Hulu and Tubi. Empire (2015 – 2020) at Hulu Learn More Learn More at Hulu The Waterfront (2025) Swapping Big Cattle for a family fishing business may seem like a big leap, but we've still got plenty of crime, shady dealings, and family angst in this Netflix series. Holt McCallany plays Harlan Buckley, returning to manage the family business, which is tied up with multiple dueling drug cartels, as well as unreliable family members—at least one on whom is looking to escape her legal problems by working with the FBI against her father and brother. Stream The Waterfront on Netflix. The Waterfront (2025) at Netflix Learn More Learn More at Netflix Dark Winds (2022 – ) Adapted from a series of books by Tony Hillerman, Dark Winds takes up back to the 1970s and the Four Corners region of the American Southwest (where Utah, Colorado, New Mexico, and Arizona meet). Zahn McClarnon, Kiowa Gordon, and Jessica Matten lead the largely Native American cast as three Navajo Tribal Police officers brought together when a bank robbery on the border of the Navajo nation becomes entangled with the deaths of two Native residents. The show blends hardboiled crime and police procedural elements, but stands out for its exploration of the fraught history and relationships between these neighboring, interwoven communities. Stream Dark Winds on Netflix. Dark Winds (2022 – ) at Netflix Learn More Learn More at Netflix Bloodline (2015 – 2017) Maybe you can't relate to the Big Cattle drama of Yellowstone. Fair! How about a seaside inn in the Florida Keys? It's all relative (pun intended), and big family drama can crop up anywhere. Starring Kyle Chandler, Ben Mendelsohn, Linda Cardellini, and Sissy Spacek, the show finds Mendelsohn's black sheep Danny returning home for the 45th anniversary of the family business, only to stir up a whole bunch of buried trauma that leads to his dad dying due to a series of strokes. That's before we learn of the drug-trafficking, cover-ups, and murders past and present. It all makes the Dutton dramas look a tad tame, honestly. Stream Bloodline on Netflix. Bloodline (2015 – 2017) at Netflix Learn More Learn More at Netflix Succession (2018 – 2023) White-collar coastal-elite types can have just as much fun with business and family drama as cattle ranchers. Succession is the darkly comic story of the Roy family, owners of media conglomerate Waystar RoyCo, and the chaos and backbiting that ensue when patriarch Logan (Brian Cox) suffers a stroke, prompting the family to begun fighting over who will take the reins after his inevitable demise. Prior to his medical incident, Logan has just given his third wife a say in his succession plans and elevated an estranged nephew to a position of power in the company, setting the stage for a (slightly less bloody) modern-day Game of Thrones scenario. Stream Succession on HBO Max. Succession (2018 – 2023) at HBO Max Learn More Learn More at HBO Max Heartland (2007 – ) It's a foreign show. From Canada! Based on a popular book series from authors Linda Chapman and Beth Chambers (who write under the name Lauren Brooke), this series follows the lives of a family of horse ranchers in western Canada led by sisters Amy and Lou (Amber Marshall and Michelle Morgan). This is more family drama than Yellowstone, with the stakes a bit closer to home, but it's very much got that western feel—even if we're talking about western Alberta. If you're not familiar with it, there's a lot to catch up on: It just completed its 19th season. Stream Heartland on Netflix. Heartland (2007 – ) at Netflix Learn More Learn More at Netflix View the full article

The pace of applications and closings on new construction fell from January, while the average loan size also declined, despite a period of lower rates. View the full article

Zendesk is taking a significant step toward transforming the customer service landscape with its proposed acquisition of Forethought, a move that positions the company as a leader in what executives are dubbing the “agentic service era.” According to Zendesk, by the end of 2026, artificial intelligence (AI) agents are expected to handle a majority of customer service interactions, surpassing human agents. This shift offers small business owners powerful new tools, but it also comes with inherent challenges they need to consider. Key Benefits for Small Businesses The integration of Forethought’s AI capabilities into Zendesk’s existing Resolution Platform enables businesses to leverage self-improving AI agents. This technology continuously learns from every interaction, which can vastly improve efficiency in customer support. Small businesses often operate with limited resources, making these improvements crucial. Tom Eggemeier, CEO of Zendesk, explained the vision behind this acquisition: “The era of simply managing conversations is over. The future of customer experience requires agentic capabilities built for definitive resolution.” This means small business owners can expect not only faster response times but also an overall enhancement in customer satisfaction. One of the standout features is the Resolution Learning Loop, which allows AI agents to enhance their own performance over time. By detecting gaps in workflows and autonomously generating new procedures, these AI agents can reduce the burden on human staff, enabling them to focus on more complex issues. This could be particularly advantageous for small teams that juggle multiple roles, freeing up time for strategic growth initiatives. Real-World Applications Small business owners can anticipate several practical applications when integrating Zendesk’s AI capabilities. For example, the introduction of specialized AI agents tailored for various business needs—whether B2B, B2C, or B2E—means that the technology can cater to diverse customer service environments. In industries like retail or hospitality, where customer interactions are frequent and varied, this could lead to a more streamlined and personalized customer experience. Another promising feature is native voice automation, which allows AI agents to handle high-volume interactions via voice communication. Considering that many consumers still prefer speaking with a representative, this capability can significantly enhance engagement while keeping operational costs in check. Forethought’s integration will also expand the reach of AI into existing enterprise systems, even without available APIs. This means small businesses can automate processes that previously required manual intervention, further elevating efficiency and allowing you to tackle previously unreachable workflows. Challenges Ahead Despite these myriad benefits, there are potential challenges small business owners must consider before fully committing to AI integration. A significant concern is the initial learning curve associated with implementing new technology. Small businesses may face hurdles in training staff and aligning AI systems with existing workflows. Moreover, as Eggemeier noted, technology is a means to an end. While AI can streamline customer interactions, maintaining a human touch in customer service is critical. Some customers may still prefer human interaction, especially for complex issues that require empathy and nuanced understanding. Balancing automation with personal touch will be essential for sustaining customer loyalty. Additionally, small business owners should weigh the financial implications. While the long-term benefits may justify the investment, initial costs for upgrading systems, training staff, and potentially hiring new talent to manage AI systems warrant careful consideration. The acquisition of Forethought is poised to accelerate Zendesk’s product roadmap, potentially delivering faster value to users. As small businesses look for partners that can help them navigate the evolving landscape of customer service, Zendesk is positioning itself as a frontrunner. With the transaction expected to close by the end of March, small business owners may soon have access to a robust platform that marries AI’s efficiencies with customer service needs. As Chuck Ganapathi, CEO of Gainsight, puts it, “The future of support is self-improving.” For small businesses aiming to enhance their customer experience, keeping an eye on these developments could pave the way for significant competitive advantages. For more information, visit the original press release at Zendesk. Image via Google Gemini This article, "Zendesk Set to Transform Customer Service with Proposed Forethought Acquisition" was first published on Small Business Trends View the full article

Zendesk is taking a significant step toward transforming the customer service landscape with its proposed acquisition of Forethought, a move that positions the company as a leader in what executives are dubbing the “agentic service era.” According to Zendesk, by the end of 2026, artificial intelligence (AI) agents are expected to handle a majority of customer service interactions, surpassing human agents. This shift offers small business owners powerful new tools, but it also comes with inherent challenges they need to consider. Key Benefits for Small Businesses The integration of Forethought’s AI capabilities into Zendesk’s existing Resolution Platform enables businesses to leverage self-improving AI agents. This technology continuously learns from every interaction, which can vastly improve efficiency in customer support. Small businesses often operate with limited resources, making these improvements crucial. Tom Eggemeier, CEO of Zendesk, explained the vision behind this acquisition: “The era of simply managing conversations is over. The future of customer experience requires agentic capabilities built for definitive resolution.” This means small business owners can expect not only faster response times but also an overall enhancement in customer satisfaction. One of the standout features is the Resolution Learning Loop, which allows AI agents to enhance their own performance over time. By detecting gaps in workflows and autonomously generating new procedures, these AI agents can reduce the burden on human staff, enabling them to focus on more complex issues. This could be particularly advantageous for small teams that juggle multiple roles, freeing up time for strategic growth initiatives. Real-World Applications Small business owners can anticipate several practical applications when integrating Zendesk’s AI capabilities. For example, the introduction of specialized AI agents tailored for various business needs—whether B2B, B2C, or B2E—means that the technology can cater to diverse customer service environments. In industries like retail or hospitality, where customer interactions are frequent and varied, this could lead to a more streamlined and personalized customer experience. Another promising feature is native voice automation, which allows AI agents to handle high-volume interactions via voice communication. Considering that many consumers still prefer speaking with a representative, this capability can significantly enhance engagement while keeping operational costs in check. Forethought’s integration will also expand the reach of AI into existing enterprise systems, even without available APIs. This means small businesses can automate processes that previously required manual intervention, further elevating efficiency and allowing you to tackle previously unreachable workflows. Challenges Ahead Despite these myriad benefits, there are potential challenges small business owners must consider before fully committing to AI integration. A significant concern is the initial learning curve associated with implementing new technology. Small businesses may face hurdles in training staff and aligning AI systems with existing workflows. Moreover, as Eggemeier noted, technology is a means to an end. While AI can streamline customer interactions, maintaining a human touch in customer service is critical. Some customers may still prefer human interaction, especially for complex issues that require empathy and nuanced understanding. Balancing automation with personal touch will be essential for sustaining customer loyalty. Additionally, small business owners should weigh the financial implications. While the long-term benefits may justify the investment, initial costs for upgrading systems, training staff, and potentially hiring new talent to manage AI systems warrant careful consideration. The acquisition of Forethought is poised to accelerate Zendesk’s product roadmap, potentially delivering faster value to users. As small businesses look for partners that can help them navigate the evolving landscape of customer service, Zendesk is positioning itself as a frontrunner. With the transaction expected to close by the end of March, small business owners may soon have access to a robust platform that marries AI’s efficiencies with customer service needs. As Chuck Ganapathi, CEO of Gainsight, puts it, “The future of support is self-improving.” For small businesses aiming to enhance their customer experience, keeping an eye on these developments could pave the way for significant competitive advantages. For more information, visit the original press release at Zendesk. Image via Google Gemini This article, "Zendesk Set to Transform Customer Service with Proposed Forethought Acquisition" was first published on Small Business Trends View the full article

AI's rapid growth also means that even the best crafted plans might need to be adjusted in a few years if not months, Anthropic and Google leaders said at ICE Experience 2026. View the full article

Danish soldiers sent to Arctic island in January were also given blood supplies in case of combatView the full article

If the cost of signing up for a Spartan Race or Tough Mudder has ever given you pause, good news: You can now use your Health Savings Account (HSA) or Flexible Spending Account (FSA) funds to cover race registration fees. Spartan has partnered with Flex, a platform that enables HSA/FSA payments across fitness and wellness brands, to make this possible. How using your FSA to pay for a race worksA quick refresher on how HSA and FSA accounts work: Both are funded with pre-tax dollars, meaning the money goes into them before the IRS takes its cut. When you spend those funds on a qualifying purchase, you're effectively getting a discount equal to your tax rate. For most people, that translates to 30 to 40 percent in savings compared to paying out of pocket. So a $150 race registration might only cost you $90 to $105. How to use your HSA/FSA to sign up for a raceThe process is straightforward: If you have an HSA debit card or FSA card, it works much like any other payment method, where you just need to select it at checkout. Register for a Spartan or Tough Mudder event and pay using your HSA or FSA card. Flex then handles the eligibility verification on the backend, so you don't have to jump through hoops to prove the expense qualifies. (If you don't have an FSA/HSA debit card or didn't use it when you registered, it's unclear if you'd be able to submit you claim after the fact under this partnership; I've reached out to Flex and Spartan for clarification.) The Flex partnership covers registration costs for Spartan's portfolio of events, which includes Tough Mudder races. And it may not stop there—Spartan and Flex are reportedly looking into more ways to extend HSA/FSA eligibility for things like training programs, recovery tools, and other athlete resources down the line. That would mean the full journey from training to finish line could eventually be (partially) funded with pre-tax health dollars. The bottom lineIn the big picture, a move like this is part of a growing shift in how fitness and wellness brands are thinking about access. Gym owner Equinox announced a similar partnership with Flex last month, allowing HSA/FSA funds to go toward select memberships, personal training, recovery services, and women's health programs. The underlying logic is the same: Physical fitness is an important part of preventative health, and your pre-tax health dollars should be able to work toward that. If you've been sitting on unused FSA funds, or building up an HSA balance you haven't fully put to work, race registration is an unexpected but worthy way to use those dollars. View the full article

For decades, in the name of workplace equality we’ve encouraged women to enter male-dominated professions because those jobs are better paid, more prestigious, and more powerful. Women engineers. Women in tech. Women in leadership. That agenda still matters but it is not enough. One of the great blind spots of our time is that we rarely ask the opposite question with equal seriousness: why are we doing so little to bring men into professions dominated by women? We do need many more men in care professions—nursing, teaching, social work, child care, elder care, and support services. The gender gap we should be talking about is not only women missing from AI jobs. It is men missing from care. The jobs of the future are already here Across advanced economies, the occupations facing the most severe labor shortages are often those dominated by women. Nursing, home care, child care, teaching, elder care, disability support and social work are under strain in most countries. Population aging will intensify this dramatically. As societies grow older, the demand for care rises structurally. Yet when people talk about “the jobs of the future,” the imagination still turns to technology, even as a rising neo-Luddite skepticism questions whether the tech sector will still provide jobs at all. In reality, the largest recruitment needs are far less futuristic. They are jobs we already know well: nurses, teachers, caregivers, therapists, home aides. Technology may assist them, but it will not replace the human attention, empathy, judgment, and reassurance these professions require. In other words, many of the most important jobs of tomorrow are those that have long been treated as secondary. And they happen to be overwhelmingly female. The great asymmetry Women have spent decades being encouraged to enter male-dominated fields. Governments, companies, and universities have promoted women in STEM, women in leadership, and women in politics. But the reverse movement has barely (if ever) occurred. Men have made very few incursions into what the scholar Richard Reeves calls the HEAL professions—health, education, administration and literacy. While women have increasingly entered STEM fields, men have not moved into HEAL. The result is a striking asymmetry. Gender equality has largely meant inviting women to enter male professions and adopt male-coded behaviors—assertiveness, competitiveness, authority. The reverse movement—encouraging men to enter female-dominated professions or embrace traditionally “feminine” skills like care and relational attention—has simply never happened. This reinforces an old hierarchy: that “productive” work—historically masculine and industrial—is more valuable than “reproductive” work, meaning care, education, and social support. Yet this hierarchy makes little sense. Without care, no society can function. Without teachers, nurses, and caregivers, no economy can sustain itself. These professions are not peripheral to prosperity. They are its very foundation. Why care work remains devalued Care professions remain underpaid, understaffed, and symbolically undervalued. Part of the reason is historical. Activities associated with nurturing, teaching, maintaining households, and caring for the vulnerable have long been coded as feminine—and therefore taken for granted. But there is also a labor market dynamic at work. Sociologists have observed that when a profession becomes feminized, its relative prestige and wages often decline. Teaching and clerical work are examples of occupations that lost status as women became the majority. The opposite sometimes happens as well: when men enter a profession in larger numbers, its status can rise. Men working in female-dominated professions often benefit from a glass escalator: they may be promoted faster, perceived as very competent, or steered toward leadership roles. While this dynamic is unjust, it also reveals something important: male presence can change how a profession is perceived. If more men entered care professions, these jobs might gain bargaining power, prestige, and better pay. The cultural cost of male absence from care The absence of men from care professions is first and foremost a cultural issue. Boys grow up with very few visible male role models in care. In nurseries, primary schools, hospitals, elder-care homes, and social services, they see women almost exclusively. The message is thus absorbed early: caring professions are not for you, young man. This matters beyond care work per se because care work fosters skills that modern societies desperately need—empathy, communication, patience, emotional intelligence, cooperation. Their absence in male socialization has lethal consequences. Discussions about a “crisis of masculinity” often focus on male loneliness, educational decline, online radicalization, or fascination with strongmen. But far less attention is paid to the structural distance many men have from relational work—the kinds of daily interactions that cultivate emotional literacy and social connection. They long for intimacy but lack the language to express it. Emotional expression had been trained out of them. Care as an antidote to the crisis of masculinity Across the Western world, public discourse has become increasingly brutal. The celebration of domination, the contempt for vulnerability, and the glorification of force have become visible features of contemporary politics—particularly in movements that frame masculinity in terms of aggression, and resentment. But it is not enough to criticize toxic masculinity. We also need positive models of masculinity rooted in responsibility, empathy, and service. Care professions offer precisely that. Male nurses, teachers, caregivers, and social workers embody a different form of male authority—one grounded in competence, patience, and protection. They provide boys with visible examples of men who listen, support and accompany others. And they remind us that masculinity does include care. How to attract more men into care professions If the absence of men from care is a structural problem, it requires structural solutions. 1. Create visible male role models Boys rarely see men working in early education, nursing, or social services. Recruitment campaigns and public narratives should highlight male caregivers, teachers, and nurses as respected professionals. 2. Challenge stereotypes early Career orientation in schools still reflects traditional gender norms. Encouraging boys to consider HEAL professions must begin early, before occupational choices solidify. 3. Improve pay and working conditions Low wages and difficult working conditions deter workers of all genders. Revaluing care economically is essential to attracting both men and women. 4. Use targeted recruitment campaigns Governments and training institutions actively recruit women into STEM. Similar initiatives could encourage men to enter nursing, teaching, and care work. 5. Normalize caring masculinities Media and cultural narratives matter. Representations of men as caregivers—fathers, teachers, nurses, mentors—help redefine what masculinity can look like. Gender equality should not mean inviting women to abandon care for prestige. It should mean recognizing care as central to society—and ensuring that both women and men participate in it. These jobs are essential. If the future of work is increasingly about sustaining human life—educating children, supporting the vulnerable, caring for the elderly—then the absence of men from these roles is a problem. View the full article

The delay in its shareholder meeting to approve the sale to UWM Holdings put Two Harbors back in play, and an undisclosed buyer has stepped up with a new offer. View the full article

Defining your sales strategy is essential for achieving success in today’s competitive market. It starts with creating an Ideal Customer Profile (ICP) that helps you pinpoint your target audience. Next, you’ll want to develop a Unique Selling Proposition (USP) that sets your product apart from competitors. From there, mapping out the lead conversion process will guide potential customers toward making a purchase. Nonetheless, there’s more to take into account, including ongoing training and collaboration between your sales and marketing teams. Discover the final steps needed for a robust strategy. Key Takeaways Identify your Ideal Customer Profile (ICP) to understand which companies benefit most from your offerings and their specific challenges. Develop a Unique Selling Proposition (USP) that highlights what sets your product apart in the market and addresses customer needs. Map out the lead conversion process to guide prospects through Awareness, Consideration, Decision, and Purchase stages effectively. Establish a coaching framework for continuous training and support for sales representatives, utilizing data-driven insights for improvement. Ensure collaboration between sales and marketing teams for consistent messaging and shared goals, enhancing overall campaign effectiveness. Create Your Ideal Customer Profile Creating your Ideal Customer Profile (ICP) is a crucial step in refining your sales strategy. By defining your ICP, you can identify the specific companies that will benefit most from your product or service. Key elements to take into account include demographics like company size, industry, and location, along with the challenges these potential customers face. Grasping their problems helps you tailor your offerings effectively. Including an ICP in your sales strategy is important, as it allows you to customize your messaging and outreach efforts, increasing engagement and conversion rates. Conducting thorough market research to analyze competitors’ strategies and identify gaps can improve your ICP, ensuring that your sales strategy remains aligned with evolving market dynamics and customer needs. Develop a Unique Selling Proposition A Unique Selling Proposition (USP) is essential for distinguishing your product in a crowded marketplace, as it defines why customers should choose you over competitors. To develop a strong USP, you need to understand customer needs and challenges, which can be achieved through market research and analyzing customer feedback. A well-defined USP highlights unique features or benefits that competitors don’t address, enhancing your product’s perceived value. Keep your USP concise and memorable, ensuring it resonates with your target audience. This clarity allows your sales representatives to communicate it effectively during interactions. Companies with a strong USP are more likely to build customer loyalty, cultivating trust and reinforcing the reasons for customers to choose your solutions over others. Map Out the Lead Conversion Process Once you’ve established a Unique Selling Proposition, it’s time to focus on mapping out your lead conversion process. This process is essential for guiding prospects from interest to purchase. Start by identifying business challenges and ideal customer profiles (ICPs). Each stage of the sales process should address customer pain points effectively. Here’s a simple table to help you visualize the stages: Stage Focus Area Awareness Generate Interest Consideration Validate Needs Decision Offer Solutions Purchase Close the Deal Incorporate emotional elements, as trust greatly impacts buying decisions. Regularly review and refine your map to adapt to changing buyer behaviors, ensuring improved effectiveness in closing deals. Establish a Coaching Framework Establishing a coaching framework for your sales team is crucial, as it guarantees that representatives receive ongoing training and upskilling to stay current with industry trends and best practices. Implementing data-driven, automated coaching programs personalizes training, offering feedback based on individual performance metrics. This approach improves sales effectiveness considerably. Here are some key benefits of a solid coaching framework: It identifies areas for improvement using tools like Salesken’s software, tailoring coaching for better results. Consistent support boosts team morale and reduces turnover, nurturing a culture of growth. A well-defined framework strengthens collaboration between sales and marketing, ensuring aligned messaging and building audience trust. Ensure Sales and Marketing Collaboration To guarantee that your sales and marketing teams work effectively together, it’s vital to focus on consistent communication and shared goals. Collaborative efforts secure consistent brand messaging, which builds audience trust and clarity in communication. When these teams align, companies can experience a 19% faster growth rate, as they share insights on customer behavior and preferences. Unified messaging improves campaign effectiveness, allowing for a more cohesive approach to reaching target customers. In addition, marketing teams create content that supports sales efforts by addressing customer pain points and objections. Regular communication and joint strategy sessions enhance lead quality, ensuring both teams target the same ideal customer profiles (ICPs), ultimately driving better results for your business. Frequently Asked Questions What Are the Five Steps to Building Your Sales Strategy? To build your sales strategy, start by evaluating your current sales performance and conducting a SWOT analysis, identifying your strengths, weaknesses, opportunities, and threats. Next, define your target audience by creating ideal customer profiles that detail their demographics and challenges. Then, set SMART goals to guide your team. After that, develop your sales tactics, choosing between inbound and outbound strategies. Finally, implement and monitor your strategy using CRM tools to track performance continuously. How to Define a Sales Strategy? To define a sales strategy, start by identifying your target customers and their needs. Segment these customers based on demographics or behavior to tailor your approach. Set SMART goals that guide your sales efforts, making certain they’re specific and measurable. Choose appropriate selling channels, like direct sales or digital marketing, that fit your audience’s preferences. Finally, regularly review and adapt your strategy based on performance data and market conditions to guarantee ongoing effectiveness. What Is Step 5 in the Sales Process? Step 5 in the sales process is Closing. Here, you encourage leads to finalize their purchasing decisions as you address any remaining objections or concerns. It’s essential to make prospects feel confident about their choices. You should be prepared with strong arguments and evidence to counter objections. Effective closing techniques include highlighting product benefits and offering post-sale support options. Tracking your conversion rate from opportunity to sale can help assess your success in this stage. What Are the 5 P’s of Sales? The 5 P’s of sales are crucial for comprehending and optimizing your approach. They include Product, which focuses on what you offer and how it meets customer needs. Price refers to setting a competitive rate based on value and market conditions. Place involves choosing the right distribution channels to reach your audience effectively. Finally, Promotion encompasses the methods you use to communicate your product’s value, such as advertising and public relations. Conclusion Defining your sales strategy is crucial for success. By identifying your Ideal Customer Profile, crafting a Unique Selling Proposition, mapping out the lead conversion process, establishing a coaching framework, and ensuring collaboration between sales and marketing, you create a structured approach. This method not just streamlines your efforts but additionally improves your ability to connect with the right prospects, in the end increasing conversions. Implement these five steps to build a robust sales strategy that drives results effectively. Image via Google Gemini and ArtSmart This article, "How to Define Your Sales Strategy in 5 Steps?" was first published on Small Business Trends View the full article

Defining your sales strategy is essential for achieving success in today’s competitive market. It starts with creating an Ideal Customer Profile (ICP) that helps you pinpoint your target audience. Next, you’ll want to develop a Unique Selling Proposition (USP) that sets your product apart from competitors. From there, mapping out the lead conversion process will guide potential customers toward making a purchase. Nonetheless, there’s more to take into account, including ongoing training and collaboration between your sales and marketing teams. Discover the final steps needed for a robust strategy. Key Takeaways Identify your Ideal Customer Profile (ICP) to understand which companies benefit most from your offerings and their specific challenges. Develop a Unique Selling Proposition (USP) that highlights what sets your product apart in the market and addresses customer needs. Map out the lead conversion process to guide prospects through Awareness, Consideration, Decision, and Purchase stages effectively. Establish a coaching framework for continuous training and support for sales representatives, utilizing data-driven insights for improvement. Ensure collaboration between sales and marketing teams for consistent messaging and shared goals, enhancing overall campaign effectiveness. Create Your Ideal Customer Profile Creating your Ideal Customer Profile (ICP) is a crucial step in refining your sales strategy. By defining your ICP, you can identify the specific companies that will benefit most from your product or service. Key elements to take into account include demographics like company size, industry, and location, along with the challenges these potential customers face. Grasping their problems helps you tailor your offerings effectively. Including an ICP in your sales strategy is important, as it allows you to customize your messaging and outreach efforts, increasing engagement and conversion rates. Conducting thorough market research to analyze competitors’ strategies and identify gaps can improve your ICP, ensuring that your sales strategy remains aligned with evolving market dynamics and customer needs. Develop a Unique Selling Proposition A Unique Selling Proposition (USP) is essential for distinguishing your product in a crowded marketplace, as it defines why customers should choose you over competitors. To develop a strong USP, you need to understand customer needs and challenges, which can be achieved through market research and analyzing customer feedback. A well-defined USP highlights unique features or benefits that competitors don’t address, enhancing your product’s perceived value. Keep your USP concise and memorable, ensuring it resonates with your target audience. This clarity allows your sales representatives to communicate it effectively during interactions. Companies with a strong USP are more likely to build customer loyalty, cultivating trust and reinforcing the reasons for customers to choose your solutions over others. Map Out the Lead Conversion Process Once you’ve established a Unique Selling Proposition, it’s time to focus on mapping out your lead conversion process. This process is essential for guiding prospects from interest to purchase. Start by identifying business challenges and ideal customer profiles (ICPs). Each stage of the sales process should address customer pain points effectively. Here’s a simple table to help you visualize the stages: Stage Focus Area Awareness Generate Interest Consideration Validate Needs Decision Offer Solutions Purchase Close the Deal Incorporate emotional elements, as trust greatly impacts buying decisions. Regularly review and refine your map to adapt to changing buyer behaviors, ensuring improved effectiveness in closing deals. Establish a Coaching Framework Establishing a coaching framework for your sales team is crucial, as it guarantees that representatives receive ongoing training and upskilling to stay current with industry trends and best practices. Implementing data-driven, automated coaching programs personalizes training, offering feedback based on individual performance metrics. This approach improves sales effectiveness considerably. Here are some key benefits of a solid coaching framework: It identifies areas for improvement using tools like Salesken’s software, tailoring coaching for better results. Consistent support boosts team morale and reduces turnover, nurturing a culture of growth. A well-defined framework strengthens collaboration between sales and marketing, ensuring aligned messaging and building audience trust. Ensure Sales and Marketing Collaboration To guarantee that your sales and marketing teams work effectively together, it’s vital to focus on consistent communication and shared goals. Collaborative efforts secure consistent brand messaging, which builds audience trust and clarity in communication. When these teams align, companies can experience a 19% faster growth rate, as they share insights on customer behavior and preferences. Unified messaging improves campaign effectiveness, allowing for a more cohesive approach to reaching target customers. In addition, marketing teams create content that supports sales efforts by addressing customer pain points and objections. Regular communication and joint strategy sessions enhance lead quality, ensuring both teams target the same ideal customer profiles (ICPs), ultimately driving better results for your business. Frequently Asked Questions What Are the Five Steps to Building Your Sales Strategy? To build your sales strategy, start by evaluating your current sales performance and conducting a SWOT analysis, identifying your strengths, weaknesses, opportunities, and threats. Next, define your target audience by creating ideal customer profiles that detail their demographics and challenges. Then, set SMART goals to guide your team. After that, develop your sales tactics, choosing between inbound and outbound strategies. Finally, implement and monitor your strategy using CRM tools to track performance continuously. How to Define a Sales Strategy? To define a sales strategy, start by identifying your target customers and their needs. Segment these customers based on demographics or behavior to tailor your approach. Set SMART goals that guide your sales efforts, making certain they’re specific and measurable. Choose appropriate selling channels, like direct sales or digital marketing, that fit your audience’s preferences. Finally, regularly review and adapt your strategy based on performance data and market conditions to guarantee ongoing effectiveness. What Is Step 5 in the Sales Process? Step 5 in the sales process is Closing. Here, you encourage leads to finalize their purchasing decisions as you address any remaining objections or concerns. It’s essential to make prospects feel confident about their choices. You should be prepared with strong arguments and evidence to counter objections. Effective closing techniques include highlighting product benefits and offering post-sale support options. Tracking your conversion rate from opportunity to sale can help assess your success in this stage. What Are the 5 P’s of Sales? The 5 P’s of sales are crucial for comprehending and optimizing your approach. They include Product, which focuses on what you offer and how it meets customer needs. Price refers to setting a competitive rate based on value and market conditions. Place involves choosing the right distribution channels to reach your audience effectively. Finally, Promotion encompasses the methods you use to communicate your product’s value, such as advertising and public relations. Conclusion Defining your sales strategy is crucial for success. By identifying your Ideal Customer Profile, crafting a Unique Selling Proposition, mapping out the lead conversion process, establishing a coaching framework, and ensuring collaboration between sales and marketing, you create a structured approach. This method not just streamlines your efforts but additionally improves your ability to connect with the right prospects, in the end increasing conversions. Implement these five steps to build a robust sales strategy that drives results effectively. Image via Google Gemini and ArtSmart This article, "How to Define Your Sales Strategy in 5 Steps?" was first published on Small Business Trends View the full article

Hotels in the UAE are placing staff on unpaid leave and shuttering buildings as occupancy levels plummetView the full article

The U.S. and Israel’s war with Iran has thrust the Strait of Hormuz once again into the crosshairs of a geopolitical conflict. Iran has ground to a halt nearly all traffic in the waterway that connects the Persian Gulf to the rest of the globe’s oceans, shutting down a critical path for the world’s flow of oil. Attacks on commercial ships and threats of further strikes have stopped nearly all tankers from carrying oil, gas and other goods through the passage. That’s also led to cuts from some of the world’s largest producers, because their crude has nowhere to go. This is hardly the first time the Strait of Hormuz has been weaponized. Ship seizures and past fighting in the region have raised alarm for commercial ships, at times severely disrupting their ability to sail through. Iran has also repeatedly threatened to close the strait in response to sanctions and other tensions over the years, but stopped short of cutting off traffic entirely. Even with the bulk of traffic halted amid the current war, dozens of vessels have still managed to cross the waterway, according to maritime and trade data platforms. While Iran and Oman both have territory in the Strait of Hormuz, its narrow shipping channels are viewed as international waters through which all ships can travel. Still, Tehran holds significant influence over the passage through its nearby military presence and control of key islands in the area. The latest clash, now in its third week after the U.S. and Israel launched strikes on Iran and killed its supreme leader, has resulted in major consequences for energy markets: Roughly a fifth of the world’s oil traveled through the Strait of Hormuz before the war, and strains on supply have sent fuel prices soaring. Here are some others instances when traffic in the Strait of Hormuz has been disrupted or threatened. 1980s: Iran-Iraq ‘Tanker War’ During a deadly, 8-year-long war between Iran and Iraq in the 1980s, both sides attacked tankers and other vessels in and nearby the Strait of Hormuz, using naval mines to shut down traffic at points. The U.S. also got involved in the so-called Tanker War — with the Navy even fighting a one-day battle against Iran in 1988, and later shooting down an Iranian commercial airliner that it mistook for a fighter jet, killing 290 people. The strait didn’t close completely. And during the war, U.S. ships also escorted Kuwaiti oil tankers to protect them against Iranian attacks. Still, the passageway became incredibly dangerous and shipping was disrupted. 2011–2012: Iran threatens closure during nuclear sanctions At the end of 2011 and into 2012, Iran threatened to close the Strait of Hormuz in response to new sanctions from the West over its nuclear development program. The European Union began enforcing a ban on purchases of Iranian oil — and the U.S. similarly targeted the country’s energy sector while also barring transactions with Iran’s central bank. That later prompted other countries to buy less Iranian oil. But Iran walked back some of those threats, and its government did not end up closing the Strait of Hormuz. Still, the turbulence and shifts in supply brought swings in oil prices. Brent crude — the international standard — was trading above $100 in December 2011 and for much 2012, peaking at more than $126 per barrel in March 2012, before cooling some later in the year. 2018: More closure threats after US withdraws from nuclear accord In May 2018, during his first term in office, U.S. President Donald The President withdrew from an Obama-era nuclear accord with Iran and began to restore sanctions. Despite some waivers, The President vowed to eventually cut off all Iranian oil exports. In response, then-Iranian President Hassan Rouhani repeated threats to close the Strait of Hormuz. But again, Iran did not end up closing the strait. And despite some volatility throughout the year, with particular production pressure on OPEC producers, Brent ended the year trading at nearly $54 a barrel, down from about $75 a barrel when The President declared the U.S. would be withdrawing in May 2018. 2019-2025: Ship seizures and attacks The U.S. Navy blamed Iran for a series of limpet mine attacks on vessels near the strait that damaged tankers in 2019, as well as for a fatal drone attack on an Israeli-linked oil tanker in 2021. Tehran denied involvement at the time. Regardless, such hostilities strained insurance rates and raised fears for shipping companies. Meanwhile, Iran seized a handful of vessels in the waterway, including several foreign oil tankers it alleged were carrying smuggled fuel at the end of just last year, per state media. The country also captured a Portuguese-flagged cargo ship in 2024 and took two Greek tankers and held them for months in 2022, among other seizures. The strait nonetheless remained open throughout. June 2025: 12-day war between Israel and Iran Fears about a possible Strait of Hormuz closure also piled up during last year’s 12-day war between Israel and Iran, particularly after the U.S. entered the conflict with bombings on three Iranian nuclear and military sites. But Iran did not close the strait, and oil didn’t see lasting price surges. Despite prices jumping some in the early days of the conflict, oil actually saw a notable sell-off as traders doubted the likelihood of attacks on crude shipments. By the war’s end, Brent was trading below $67 a barrel, a few dollars less than it was beforehand. —Wyatte Grantham-Philips, AP Business Writer View the full article

Measures for banks would weaken one of the main regulatory guardrails against a financial crisisView the full article

Despite bullish jobs data, yields surged post-FOMC, with three possible wave theory outcomes ahead, according to the head of correspondent business development at AD Mortgage. View the full article

Career disruption is accelerating across the economy—and few people have navigated it more boldly than Maryam Banikarim. The former CMO of Univision, Gannett, and Hyatt, and host of The Messy Parts podcast, Banikarim shares hard-won wisdom about C-suite politics, and what it means to ultimately bet on yourself. Growing up in Iran during the time of revolution, Banikarim offers a unique perspective on the current Middle East conflict—and her determined search for hope amid the chaos. This is an abridged transcript of an interview from Rapid Response, hosted by the former editor-in-chief of Fast Company Bob Safian. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with today’s top business leaders navigating real-time challenges. Subscribe to Rapid Response wherever you get your podcasts to ensure you never miss an episode. Let’s start with The Messy Parts, because first of all, I love that word, messy. I feel like creativity is messy, growth is messy. We have plans, but life is really what happens when your plan didn’t work out. Have you always been drawn to messy? I think I never knew anything but messy. I’m a kid who grew up in a revolution. My mom and dad went to college in Boston and left me behind with my grandmother in Iran when I was 3, which most people think is really traumatic, but what else did I know? I had a father who drowned windsurfing when I was a sophomore in college. I only know messy. But what I also learned as a result is how to pick myself back up pretty quickly. And I think the sooner you learn that, the easier it gets. Not that we want people to have complicated journeys, but I do think you develop this muscle memory that, while it may be hard, you learn that it’s going to be OK. And sometimes the mess is the opportunity, too. It’s finding the opportunity in the mess. A hundred percent. Bloomberg talks about having started Bloomberg as a result of being fired. When people step away or pause, whether by choice or by somebody else’s choice, what ends up happening is that you have to decompress and deal and find a pathway. I had a job that I took at Ammirati Puris Lintas. It’s not even on my résumé. I took that job, and a week in I knew, oh, things were not good here. And that was terrifying. But if I hadn’t walked away from that job, I wouldn’t have had a pivot in that moment that really became transformative for my career after that. It’s easy to see that in retrospect, but when it was happening and I was like, “Oh my effing God,” yeah, that didn’t feel so good. Yeah, but it’s hard to walk away from things, especially if you’re someone who’s like, “No, I’m a successful person. I get things done. I solve problems. Why can’t I solve this one?” I’m a professional problem solver. That’s generally what I say people in the world of business are. The hardest thing for me is sitting still. When that pause comes, it’s a real moment of identity shift, because I remember leaving Hyatt and taking a year and a half off, and literally, to a person, they would be like, “She’s the former global CMO of Hyatt,” as if somehow I had no value outside of that title. I had headhunters who called me who said, “Don’t wait too long because you’re not going to be able to go back in.” There’s so much anxiety that’s placed on you when you pause, again, whether it’s by choice or not. And I think for people who are successful enough to get to that level, yeah, your identity is completely intertwined because you had to make sacrifices in order to be able to get there. I know when I left Fast Company, where I had been for 11 years, it was a long time. And I did have this sense of, what is my relevance? Where do I go next? And you do feel a little lost. I’m still trying to figure out what I’m going to be when I grow up. I don’t know where this journey is going to take me, but each thing leads you to the next thing. And so I think that belief that it will work out, even though it seems easy to say, is actually pretty much true. I would say that is the throughline among all the people who’ve come on. Now, some of them will tell you, “Live your purpose.” Some of them tell you don’t live your purpose. There’s a lot of competing ideas. But the one thing I will say is grit, resilience—they work hard, and they learn over time that even though they have these bumps, which are inevitable, it somehow works itself out. You mentioned your upbringing in Iran. What do you make of it? Do you still have family there that you’re in touch with? Yes, I still have family there. My aunt and her husband are still there. I left when I was 11, in fifth grade, at the end of fifth grade. And for sure, that was, I think, the beginning of a feeling of non-belonging in a way, because you were extracted in the middle of your life from the world that you knew. I have felt numb pretty much since then in some ways. I remember when the Women, Life, Freedom movement broke out, there was this song called “Baraye,” which actually won a Grammy that year. When that song played for the first time, something in me broke and I cried. I don’t think I’d cried the entire time. For me, I was a kid as the revolution heated up. We had more and more kids who were being pulled out of school. We had teachers who left. We had martial law. My father was under house arrest, but as a kid, oddly, I found it exciting. And so I had an American teacher. She did current events, and I remember at the end of the year she said to my mom, “Your daughter is going to become a journalist.” And as they were killing all the journalists, my mom said to her, “That is a fate worse than death.” But I think it’s hard not to look on. Obviously, there are a lot of civilians being impacted, not just in Iran, but also in all the other places where bombs are being dropped. There’s no question that this has been a government that’s terrorized its own people. I think there’s a sense of, we’re going to burn it to the ground before we give up. So you worry about where the end is. I don’t think anybody who knows what’s happened in terms of the repression and really the aggression with which they’ve put down any kind of protest would be sad that things change, but I do think we’re going to experience a high cost in what you call unintended casualties. Out of all this, you have been a very creative person yourself, as a marketer and otherwise. I remember during the pandemic, you threw yourself into championing New York City at a time when the city seemed scary and at risk, and you rallied people in the arts and outdoor performances. And you put together The Longest Table, which was this sort of block-long dining table in Manhattan to fuel connection. Now you’ve started a community called The Interval for executives in transition. Is there something that you feel connects those things? The throughline is belonging. I think for me, as a kid who lost her sense of belonging, not only creating belonging for myself—which I really did by joining and doing, that’s how I found belonging. I was like, “I’m willing to help and get involved.” But also helping others find belonging for themselves. Nobody needs to repeat middle school, I say. I think we can all relate to that emotion. I think that matters. In the world of business, when you step away, again, by choice or not, there is this incredible moment of vulnerability. And I think what’s amazing about The Interval is that you find a group that is willing to support you without judgment. I remember when I left Hyatt, my son said to me, “Mom, you’re the busiest unemployed person I know.” And I think motion was my default. I think there are so many different ways to live your life. For me, The Longest Table, which is a nonprofit, has been a way to reinvent myself, to just give back in a different way. And honestly, I’m in a place to be able to do that now. View the full article

Federal regulators issued proposals Thursday to implement the final elements of the Basel III accords, adjust the Global Systemically Important Bank surcharge and implement standardized approaches for risk-weighted assets. The changes would reduce capital requirements for banks of all sizes affected by the rules. View the full article

Retail loyalty cards are programs designed to encourage customer loyalty by rewarding repeat purchases. When you sign up, you provide personal information and receive a unique identifier that tracks your purchases. With each transaction, you earn points that can be redeemed for discounts or exclusive offers customized to your shopping habits. This system not only improves your shopping experience but additionally provides retailers with insights into your buying behavior, raising questions about the broader impact of these programs. Key Takeaways Retail loyalty cards are programs that reward customers with points for repeat purchases, enhancing customer loyalty and encouraging sales. Customers enroll by providing personal information and receive a unique identifier to track their points and rewards. Points earned can be redeemed for discounts, free items, or exclusive offers tailored to individual shopping habits. Effective loyalty programs utilize multi-channel promotion and simplified enrollment to increase participation and engagement among consumers. Success is measured through key performance indicators (KPIs), such as enrollment and redemption rates, to optimize program effectiveness. What Are Retail Loyalty Cards? Retail loyalty cards are strategic tools used by businesses to cultivate customer loyalty and encourage repeat purchases. These cards, which include store rewards cards and store membership cards, are issued by retailers to provide customers with incentives and rewards based on their purchasing behavior. By using retail loyalty cards, you can accumulate points with each purchase, which can later be redeemed for various rewards once you reach a specific threshold. Popular examples include Starbucks Rewards, Sephora Beauty Insider, and Walgreens Balance Rewards, each customized to meet the unique preferences of their customers. Retail loyalty cards not only benefit you by offering rewards but in addition help retailers track customer habits, allowing them to refine their offerings. Ultimately, these programs play an essential role in enhancing brand loyalty, contributing to increased customer retention and overall sales revenue for businesses. How Do Retail Loyalty Cards Work? When you participate in a retail loyalty program, you typically start by enrolling and providing some personal information. After that, you receive a unique identifier, like a card or app ID, which tracks your purchases and points. Here’s how it works: Points Accumulation: You earn points for every purchase, which can be redeemed for rewards or discounts once a threshold is met. Customized Promotions: Retailers analyze your shopping behavior to offer personalized recommendations, enhancing your shopping experience. Multi-Channel Earning: You can earn and redeem points in-store, online, or via mobile apps, providing greater flexibility. Data Insights: Retailers utilize loyalty card data to understand purchasing habits, enabling targeted marketing strategies. Through these mechanisms, retail loyalty cards encourage deeper engagement and aim to increase your overall shopping satisfaction as well as benefiting the retailer’s sales strategies. Benefits of Retail Loyalty Cards for Customers Retail loyalty cards provide you with exclusive rewards and discounts that improve your shopping experience. By accumulating points with each purchase, you can redeem them for valuable offers customized to your preferences. Moreover, these programs often personalize promotions based on your shopping habits, making your experience more relevant and enjoyable. Exclusive Rewards and Discounts As you shop, loyalty cards can greatly improve your experience by offering exclusive rewards and discounts personalized to your preferences. These programs provide various benefits that enrich your shopping experience, including: Points for every purchase that can be redeemed for discounts or free items. Personalized discounts customized to your shopping habits, making you feel valued. Early access to sales and exclusive products, ensuring you don’t miss out on deals. Additional perks like birthday gifts and tiered rewards, encouraging repeat purchases. Participating in loyalty programs not only boosts your savings but furthermore deepens your relationship with your favorite brands, leading to a more engaging shopping experience. Enjoy the advantages that come with your loyalty! Personalized Shopping Experience Enhancing your shopping experience goes beyond just discounts and rewards; it lies in the personalized service that loyalty cards provide. When you join a loyalty program, you receive customized offers and discounts based on your purchasing behavior. Research shows that 91% of consumers prefer brands that offer personalized recommendations, which makes shopping more enjoyable. Loyalty card members often gain exclusive promotions, early access to sales, and rewards that align with their preferences, encouraging repeat purchases. Retailers analyze your shopping habits to create targeted marketing strategies, enhancing relevance. Many programs feature tiered rewards systems, offering increasingly valuable perks as your spending grows. Examples of Popular Retail Loyalty Card Programs Loyalty card programs have become a staple in the retail environment, offering consumers a way to earn rewards during shopping. Here are some popular programs that illustrate how they work: Starbucks Rewards: Earn stars for every purchase, redeemable for free items and personalized offers through their app, boosting engagement. Sephora’s Beauty Insider: A tiered points system allows members to earn rewards, including birthday gifts and exclusive access to products based on spending levels. Walgreens’ myWalgreens: This program offers cash rewards, personalized coupons, and health activity tracking, aiming to promote repeat business. Kroger Plus Card: Enjoy discounts on groceries, fuel points, and customized offers based on shopping history, making it valuable for grocery shoppers. These programs not only reward purchases but additionally encourage customer loyalty by providing customized benefits that improve the overall shopping experience. When Should Retailers Implement Loyalty Card Programs? Retailers should consider launching loyalty card programs during peak sales periods to capitalize on increased foot traffic and customer interest. Implementing these programs can likewise serve as a strategic response to market competition, helping you stand out in a crowded marketplace. Peak Sales Periods Implementing a loyalty card program during peak sales periods can greatly improve customer engagement and drive repeat purchases. Timing is essential, so consider these key moments: Holidays: Launch your program during festive seasons when shopping spikes. Major Shopping Events: Align your program with events like Black Friday or Cyber Monday to capture high traffic. New Product Releases: Use heightened interest in new offerings to encourage sign-ups and participation. Sales Promotions: Encourage customers to spend more by linking loyalty rewards to special promotions. Market Competition Response In today’s competitive environment, launching a loyalty card program can be a strategic move to set your business apart and retain customers. Retailers should consider implementing these programs when facing increasing competition or market saturation. Doing so helps differentiate your brand and keeps customers engaged. Timing is vital; launching during peak sales periods or major product launches can maximize customer interaction. Furthermore, loyalty programs allow you to build customer databases, important for effective customer relationship management (CRM). How Can Customers Sign up for a Retail Loyalty Card? Signing up for a retail loyalty card can be a straightforward process, whether you prefer to do it in-store, online, or through a mobile app. Here’s how you can typically get started: Choose Your Method: Decide if you want to sign up at the store, on the retailer’s website, or via their mobile app. Provide Basic Information: You’ll usually need to enter your name, email address, and phone number to create your account. Enroll at Checkout: Many retailers allow you to sign up during making a purchase, making it convenient to join on the spot. Enjoy Immediate Rewards: Some loyalty programs offer instant discounts, bonus points, or rewards for signing up, which can improve your shopping experience. Strategies for Retailers to Enhance Loyalty Card Effectiveness To improve the effectiveness of retail loyalty cards, retailers should focus on streamlining the enrollment process and promoting the program across various channels. Simplifying registration can boost participation, as 57% of consumers abandon loyalty programs because of complex sign-up procedures. Leveraging multiple platforms—like in-store displays, online ads, and social media—helps increase visibility and taps into the 92% of people who trust recommendations from friends. Additionally, personalizing offers using customer data can greatly improve satisfaction since 91% of consumers prefer customized experiences. Providing rewards that can be earned and redeemed across shopping channels, similar to Starbucks Rewards, encourages a seamless experience. Finally, measuring success through defined KPIs, like enrollment and redemption rates, can lead to a 25% revenue increase with data-driven strategies. Strategy Benefits Simplify enrollment process Increases participation Multi-channel promotion Improves visibility and trust Personalize offers Boosts customer satisfaction Track KPIs Enhances revenue and strategy Frequently Asked Questions How Does a Loyalty Card Work? A loyalty card works by allowing you to earn points for every purchase you make at participating retailers. When you shop, you present your card or app login, which tracks your purchases. As you accumulate points, you can redeem them for discounts or rewards once you reach a specific threshold. These programs often provide personalized offers and promotions based on your shopping habits, enhancing your overall shopping experience and encouraging repeat business. What Is the Main Purpose of a Store’s Loyalty Card? The main purpose of a store’s loyalty card is to encourage you to shop more frequently by offering rewards, discounts, or exclusive promotions. By using these cards, retailers can gather data on your buying habits, allowing them to tailor marketing efforts to your preferences. This strategy not only improves your shopping experience but likewise builds brand loyalty, making you more likely to return, thereby reducing customer churn and boosting sales for the business. What Are the Disadvantages of a Loyalty Card? Loyalty cards can have several disadvantages. You might find yourself overspending to reach rewards, which could negate any savings. Furthermore, many consumers abandon these programs because of their complexity. There are likewise concerns about data privacy, as sharing personal information can lead to distrust. Finally, if you don’t shop frequently, you may feel excluded from benefits, creating a perception of unfairness among occasional shoppers. Comprehending these downsides can influence your participation. What Is the Purpose of a Loyalty Program in Retail? A loyalty program in retail serves to improve customer retention by rewarding repeat purchases with incentives like discounts and special offers. You benefit by receiving rewards that encourage you to shop more frequently. These programs additionally help businesses gather valuable data on your preferences and spending habits, which they use to tailor marketing efforts. In the end, loyalty programs aim to increase your lifetime value as a customer as well as differentiating the brand from competitors. Conclusion In conclusion, retail loyalty cards are crucial tools for both customers and retailers. They encourage repeat business by allowing customers to earn points on purchases, which can be redeemed for rewards. Retailers gain valuable insights into shopping behaviors, enabling targeted marketing. By implementing effective loyalty programs, businesses can improve customer satisfaction at the same time driving sales. As a customer, signing up for a loyalty card can lead to significant savings and personalized offers customized to your shopping preferences. Image via Google Gemini This article, "What Are Retail Loyalty Cards and How Do They Work?" was first published on Small Business Trends View the full article