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When Emir Lopez was ready to open his first Domino's Pizza store, he could have done it anywhere. But after working his way out of the James Weldon Johnson Project in East Harlem, New York, Emir decided the best place to open that store was right in the neighborhood he had come from.
  • Multi-Unit Franchise
  • 4,007 Reads 32 Shares
Among the many costs associated with running a successful franchise are staff wages, marketing campaigns, and product costs (with regard to ordering and maintaining an inventory). One of the biggest expenses, without question, has to be your commercial rent. Higher income from rent-paying tenants, like you, will make a landlord happier. However, this remains as money out of your pocket. By decreasing your monthly rent, your profits will increase. Doing this is not impossible. Know that the amount of rent that you agreed to pay at the beginning of your lease term is not necessarily the amount of rent you will pay on your renewal. I have been quite successful in negotiating midterm rent breaks and lease renewal rent reductions for many clients - both independent business owners and franchisees.
  • Dale Willerton
  • 38,196 Reads 20 Shares
In part one of this three-part series, I discussed self-assessment and how to take inventory of the leadership shadow that you cast. Nothing can be more fundamental to business success than acquiring the necessary skills that are critical to leading others in a multi-unit franchise operation.
  • Tom Welter
  • 10,418 Reads 1 Shares
For the past few years you have heard me note that the majority of franchised units in the U.S. are owned by multi-unit operators. With more than 400,000 franchised units in the country, multi-unit operators control about 53 percent of those units. That's impressive, and the percentage controlled by multi-unit operators is rising. This growth is a consequence of many brands focusing their development models on multi-unit development packages over single-unit programs.
  • Darrell Johnson
  • 9,299 Reads 324 Shares
As a franchisor, what are some things you are doing (or considering doing) to help give your franchise development people enriched selling opportunities in today's economy?
  • Franchise Update
  • 6,337 Reads
This is the last of three parts about how to maximize the effectiveness of your Discovery Day. Companies schedule Discovery Days in different ways: once a month, once a week, or anytime a candidate can make it! As your system grows, you'll be forced to schedule more frequent and specific dates so you don't overtax your home office resources. But sooner is better. Like a cold steak, your opportunity can lose its sizzle the longer the wait for Discovery Day.
  • Steve Olson
  • 9,808 Reads 13 Shares
As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to bring you good news each month, highlighting brands that are adding units, increasing comp store sales, striking deals with investors, and continuing to grow despite the economy - maybe even because of it. And, as the U.S. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities.
  • Eddy Goldberg
  • 9,914 Reads 93 Shares
To some people, trade shows are a necessary evil, while others believe by ignoring them it will make them go away. The reality is that trade shows are not going away. Just the opposite is occurring right in front of our eyes: They are becoming more important.
  • Ray Titus
  • 3,645 Reads 44 Shares
Each year, for more than a decade, Franchise Update Media Group has surveyed hundreds of franchisors about their sales and development practices and compiled the results in its Annual Franchise Development Report (AFDR).
  • Eddy Goldberg
  • 3,608 Reads 15 Shares
Seat-of-the-pants management styles may be fine themes for business magazine articles and their Hollywood adaptations, but responding to the symptoms of problems instead of preventing problems in the first place is like taking aspirin to cure pneumonia.
  • Steve LeFever
  • 19,182 Reads 510 Shares
The process of recruiting franchisees can be grueling. Half the battle is deciding where and when to reach your audience. What if there were a recruitment strategy that eliminated the need to search high and low for franchisees, and instead turned them right to you
  • Lisa Wehr
  • 3,783 Reads 122 Shares
MSA Worldwide
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When Anil Yadav hears people talk about the United States as the land of opportunity, he takes pride in the fact that his life since emigrating from India has been a testament to the promise implicit in that phrase.
  • John Carroll
  • 23,625 Reads 6 Shares
Will the 2011 economy provide a further drag on franchise development, or will it allow development to start to gain some speed? I believe the answer is that it will allow some gradual acceleration in most sectors. Let's look at what's been happening in development and the economic factors that will influence it in 2011, and some implications for development that will last beyond 2011.
  • Darrell Johnson
  • 3,376 Reads
Sean Tuohy, entrepreneur, NBA broadcaster, and subject of The Blind Side, J. Patrick Doyle, CEO of Domino's Pizza, futurist Jim Carroll, and John DiJulius, customer experience speaker, author and consultant, will be the four keynote speakers at the 2011 Multi-Unit Franchising Conference, April 27-29 at The Venetian in Las Vegas. The annual conference is organized by <i>Multi-Unit Franchisee Magazine,</i> and the 2011 theme is, "What's Next. Plan Tomorrow Today."
  • PRESS RELEASE
  • 5,367 Reads 1,021 Shares
Sean Tuohy, entrepreneur, NBA broadcaster, and subject of The Blind Side, J. Patrick Doyle, CEO of Domino's Pizza, futurist Jim Carroll, and John DiJulius, customer experience speaker, author and consultant, will be the four keynote speakers at the 2011 Multi-Unit Franchising Conference, April 27-29 at The Venetian in Las Vegas. The annual conference is organized by Multi-Unit Franchisee Magazine, and the 2011 theme is, "What's Next. Plan Tomorrow Today."
  • PRESS RELEASE
  • 5,764 Reads
When Hurricane Katrina slammed into New Orleans five years ago, Glenn Mueller already was a grizzled veteran of the Gulf Coast hurricane season. Being a franchisee carries some special challenges for anyone who operates in the region, and Katrina put all of his considerable skills as one of the country's top Domino's franchisees to the test.
  • John Carroll
  • 7,712 Reads 393 Shares
For more than a decade now, Franchise Update has deployed teams of mystery shoppers to evaluate the performance of sales teams, specifically their responses to phone and online queries from qualified prospects. The companies surveyed each year are franchisors registered to attend the annual Leadership & Development Conference who ask to be mystery shopped. This year, our telephone mystery shoppers phoned 155 franchisors and submitted forms on 132 recruitment websites; and a separate team evaluated the websites themselves.
  • Eddy Goldberg
  • 5,711 Reads
A great franchise in a poor location will become a poor business. When it comes to site selection, one difference between an independent tenant and a franchisee is that, presumably, the franchisee will be getting real estate help and support from the franchisor.
  • Dale Willerton
  • 74,567 Reads 11 Shares
"Mystery shopper": two words that strike fear in the hearts of franchisors with poorly managed sales departments and weak sales processes. But for those on top of their development game, who always have a finger on the pulse of their sales team, it's simply a validation of what they already know.
  • Kerry Pipes
  • 5,932 Reads
As we continue to mine Dave Melton's book, <i>Hire the American Dream</i>, I thought it would be interesting to highlight a case study that demonstrates just how successful smart hiring can be. Here Melton describes his experience hiring an immigrant.
  • Kerry Pipes
  • 4,098 Reads 88 Shares
In my 20-year journey of understanding leadership fundamentals, I have found change to be constant and adaptability to that change as the number one indicator of personal success.
  • Tom Welter
  • 5,951 Reads 143 Shares
The Human Bean
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In marketing, there are two basic ways to sell a potential customer. You can try to convince or argue them into buying your product (the classic salesman technique), or you can discover what it is that naturally appeals to them about your product or service, and use it to attract them, like a magnet. I call this latter approach, Shiny Objects Marketing. Everyone is attracted to shiny objects. We can't help it - it's in our DNA. The truly successful franchisee discovers the shiny object hidden in their product or service and puts it out in front of their customers, for all to see.
  • David LaBonte
  • 3,455 Reads 75 Shares
Should a franchisor sign the head lease and sublease the space to a franchisee or allow the franchisee to enter into his or her own lease agreement with the landlord? Both options are viable, but which is more practical and better for you?
  • Dale Willerton
  • 10,194 Reads
Just like any business, the franchising business is one that I have seen evolve tremendously over the past 30 years. While many of the cornerstones and crucial elements - product, simplicity, control, and support - remain the same, so much is changing.
  • Larry Feldman
  • 4,097 Reads
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced its 2011 conference schedule. The Multi-Unit Franchising Conference is April 27-29 at The Venetian in Las Vegas; the new Franchise Consumer Marketing Conference is June 14-15 at the Omni in San Francisco; and the Franchise Leadership & Development Conference is October 12-14 at the Intercontinental, Buckhead Atlanta.
  • Franchise Update Media
  • 5,895 Reads 3 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced its 2011 conference schedule. The Multi-Unit Franchising Conference is April 27-29 at The Venetian in Las Vegas; the new Franchise Consumer Marketing Conference is June 14-15 at the Omni in San Francisco; and the Franchise Leadership & Development Conference is October 12-14 at the Intercontinental, Buckhead Atlanta.
  • PRESS RELEASE
  • 6,444 Reads 3 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced its 2011 conference schedule. The Multi-Unit Franchising Conference is April 27-29 at The Venetian in Las Vegas; the new Franchise Consumer Marketing Conference is June 14-15 at the Omni in San Francisco; and the Franchise Leadership & Development Conference is October 12-14 at the Intercontinental, Buckhead Atlanta.
  • PRESS RELEASE
  • 6,073 Reads 3 Shares
When a franchise unit or organization runs into trouble, what does your franchisor do to help? Unfortunately, according to several multi-unit operators we spoke with, not much, not enough, nothing at all--and sometimes worse, demanding future royalty payments for closed units, or refusing to allow franchisees to shut or relocate distressed units.
  • Eddy Goldberg
  • 6,726 Reads 1 Shares
Recently, I had a discussion with a CEO of a franchise company, which I will call ABC Franchise Systems. The CEO was telling me about his company's area representative program, which was having problems. As I listened to the litany of issues he was facing, I began to reflect on my own experience as an area representative and how the same issues seem to exist in most area representatives programs. To understand how to solve these issues let's look at some of the mistakes franchise companies make when implementing area representative programs and explore solutions.
  • Marvin Storm
  • 3,455 Reads 1 Shares
Franchisors and franchisees who accept credit or debit cards as payment from consumers are familiar with--and likely disdainful of--the fees that card issuers and banks charge for those transactions. The largest component of these fees are called "interchange fees," which are fees that card-issuing banks charge to a merchant or retailer's bank in exchange for processing the transaction. Interchange fees (along with other small fees) are then passed along to the retailer or merchant. In this way, interchange fees affect the prices that many businesses charge to consumers for goods and services.
  • Michael Laidhold
  • 3,162 Reads 48 Shares
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