The Incentives Keep on Coming
By: Franchise Update
Published: August 31st, 2009
Franchisors seeking to maintain growth in 2009 are offering candidates deals in the form incentives, stimuli, reduced fees, breaks on royalties, and more. FUSR will continue to track this trend to keep you informed on what "the other guys" are doing to attract prospects and turn them into franchisees.
No Financing? No Franchise Fee!
- ColorTyme and RimTyme will refund the franchise fee of any approved franchisee who is unable to procure financing - another example of a franchisor seeking to make it easier for candidates to take that final step. ColorTyme franchisees operate 205 rent-to-own stores in 33 states, and RimTyme, the company's custom wheels and tires brand, operates 25 stores in 11 states. Both are part of Rent-A-Center.
Buy One, Get One Free
- Emerald City Smoothie has implemented a program offering a "buy one, get one free" deal for potential franchisees. Those who buy a standard Emerald City Smoothie location will receive a kiosk for free - essentially establishing them as a multi-unit franchisee from the start.
Conversions Drive Growth
- Fastsigns is offering a conversion initiative to independent sign and graphics shops, encouraging them to take advantage of the company's experience in strategizing their success and long-term goals. For a limited time, the brand is also offering reduced royalties and franchise fees. Fastsigns, with 560 centers nationwide, is looking for conversions to help it add 20 new centers.
Looking for a Few Good Vets
- 7-Eleven launched a new discount program in July for retired or separated veterans who have been honorably discharged. Qualified veterans who become first-time 7-Eleven franchisees will receive a 10 percent discount on the initial franchise fee for the first store they franchise. Savings can range from $1,000 to about $35,000, depending on the store. This is the first time 7-Eleven has offered a reduction like this in its franchise fees, said President and CEO Joe DePinto, who graduated from the Military Academy at West Point, served five years as an officer in the U.S. Army.
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