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Gaining access to and securing capital is more important for franchisees today than ever. Every week we talk with multi-unit franchisees about how they are growing and the kind of financing it takes for them to achieve their goals and objectives. It's an important topic and sometimes we get some very candid responses.
  • Multi-Unit Franchisee
  • 6,425 Reads
Brian Castro's help desk department serves more than 1,000 computer users at his company's corporate center. Among the 23 employees in his multi-generational staff are several Millennials (born 1980-1999) who he hired last year, fresh out of college. Like the rest of Brian's help desk staff, his Millennials are excellent at solving difficult computer problems, usually under a critical deadline. Overall Brian, a Baby Boomer, is pleased with his new hires and tells them just how much he values them.
  • Dr. Joanne G. Sujansky, CSP and Jan Ferri-Reed, Ph.D
  • 3,714 Reads 15 Shares
Stephen Reitz was in his late 30s when he entered the world of franchising. He'd already learned quite a bit about the world of business in the years preceding his career switch. "I had a number of positions before I got into franchising," says Reitz, who spent 20 years at Ford Motor Company in sales and marketing. One highlight at Ford was a week he spent with W. Edwards Deming, the legendary management and quality guru who helped the Japanese create some of the world's leading manufacturers--and who spurred Reitz to become passionate about process improvement.
  • John Carroll
  • 5,095 Reads 35 Shares
Why would both a franchise capital finance company and the CEO of a retail franchise brand sign on as franchisees of a new concept? That's what Siegel Financial Group and Gabriel Bottazzi, CEO and founder of Bijoux Terner, have done. They are among the six franchisees who have signed on with RetroTax. Part of the reason, both say, is that it's a great concept. RetroTax, as the name implies, finds tax credits for both franchisors and franchisees--and gets paid as a percentage of what they find.
  • Eddy Goldberg
  • 4,265 Reads 15 Shares
Featuring Steve Olson, Publisher of Franchise Update Media Group and Author of "Grow to Greatness".
  • Inside Franchising Podcast
  • 9,911 Reads 1,023 Shares
You've worked hard to build your multi-unit franchise business, and now it's time to step back--not only from the day-to-day operations, but perhaps from the business itself. Is it time to let go? Can you? Will the business continue without you?
  • Eddy Goldberg
  • 6,587 Reads 1,021 Shares
Franchising is the most popular system for growing a business in the United States today. According to every government survey, franchising has experienced explosive growth since the mid-70s and is expected to be the leading method of doing business in the new century. In the United States, there are over 2,500 franchise systems. These systems have in excess of 534,000 franchise units, which represent 3.2% of the total businesses. This 3.2% of all businesses controls over 35% of all retail and service revenue in the U.S. economy.
  • Bob Gappa
  • 18,806 Reads 8 Shares
In reality you are taking your assets, which you own, and investing them in someone elses' brand and operating system. You will always own your assets. You will always own your corporation. But you will "do business as" (dba) a licensee of the franchisor.
  • By: Bob Gappa
  • 18,297 Reads 3 Shares
Perhaps you're familiar with Pinkberry. It's the frozen yogurt concept that launched amid a flurry of long lines, celebrity praise, and customers driving hours just to get a taste of the tangy yogurt at its original Los Angeles location when it opened in 2005. Since then, the brand has continued to grow--as has an exploding slate of competitors--and now comes news of a fresh injection of capital and some ambitious expansion plans.
  • Kerry Pipes
  • 4,769 Reads 1 Shares
It's time to open your first franchise store. It's an exciting event but one that can also be filled with anxiety. But you can alleviate much of that anxiety with some proper planning and by relying on advice and support from the franchisor.
  • Kerry Pipes
  • 28,332 Reads 9 Shares
Social media, social networking, social marketing, social recruiting. Whatever you call these new connectivity platforms, they're sweeping the business world in 2009--much as the Internet and World Wide Web did circa 1995. Everybody wants in on the action, but no one is quite sure how. Okay, maybe some people know. We asked a few--and went online (of course) to find out more. We also pulled a few thoughts from "The Long Tail," a book by [i]Wired[/i] magazine Editor Chris Anderson on how Web 2.0 and social media have transformed marketing and sales.
  • Eddy Goldberg
  • 4,064 Reads 4 Shares
Potbelly Sandwich Works
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Potbelly Sandwich Works
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Potbelly Sandwich Works
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Why did lenders go from using fog-the-mirror underwriting to 100 percent cash collateral requirements in less than a 36-month period? Why did the banking watchdogs not bark? From a franchise growth perspective, the answer is simple: It doesn't matter. What does matter is confronting the new lending reality.
  • Darrell Johnson
  • 4,207 Reads 7 Shares
Most of the headlines in 2009 have carried a common theme with respect to business and retailers in particular: a struggling economy and record high unemployment. Although most employees, customers, and vendors are as honest as the day is long, others simply cannot resist the temptation to steal what they cannot afford--especially in difficult times.
  • Rollie Trayte and Gary Widman
  • 5,142 Reads 1,021 Shares
Sean Falk's "secret weapon" for achieving success in business may lie in his Ironman triathlon creds. This three-time triathlon winner (a race that combines a 2.4-mile swim, a 112-mile bike ride, and a 26.2-mile run) harnesses his drive and energy to ride herd on 10 retail units (four brands) and one restaurant in three states. Or maybe it's experience in the U.S. Marine Corps., where he attained the rank of captain.
  • Debbie Selinsky
  • 7,461 Reads 1 Shares
To be the best at what you do. To be the best in your market, your industry, your niche. To take your passion and build a business that excels in every way. To build teams, train managers, and win the loyalty of customers. To gain recognition and win awards from your franchisors. And to provide for your family and build a life--and a business you can pass on to your children. All these goals and more are what drive multi-unit franchisees to dominate. In our annual "Dominators" issue, we feature six operators what drives them. Here's a "sneak preview."
  • Eddy Goldberg
  • 5,581 Reads 9 Shares
Franchise Update Media Group, the leading industry resource for franchise development, announces the winners of its 11th annual STAR (Speaking To And Responding) Awards, which included two new categories this year - SEO and Social Media. The awards recognize excellence in lead generation, recruitment, and industry-wide best practices in franchising.
  • Press Release
  • 4,975 Reads
Franchise Update Media Group, the leading industry resource for franchise development, announces the winners of its 11th annual STAR (Speaking To And Responding) Awards, which included two new categories this year - SEO and Social Media. The awards recognize excellence in lead generation, recruitment, and industry-wide best practices in franchising.
  • PRESS RELEASE
  • 7,181 Reads
Cleveland-based USA Insulation has added new franchise locations in Indianapolis, Chicago, Omaha, Portland, Me., and central New Jersey. Company President Patrick J. Pitrone attributes the company's growth to forecasts of a cold winter, unpredictable energy prices, and the Federal Energy Tax Credit of 30 percent (up to $1,500) for homeowners who add insulation by year-end.
  • Franchise Update
  • 4,277 Reads 24 Shares
The constant theme of this column is Do It Effectively, Do It Legally, Make a Difference. How a franchisor addresses its sales promotional materials fits this theme. That is, a franchisor's sales promotional materials must effectively capture a candidate's attention and also must comply with the rules.
  • Brian Schnell
  • 6,552 Reads 1,021 Shares
Last month we discussed the first of the three key selling skills involved in effectively selling new franchises--and how they apply in good economies and bad.
  • Steve Olson
  • 5,233 Reads
Build-A-Bear Workshop, in partnership with WiredSafety.org, is promoting October as "Stop Cyberbullying Month" at its stores and in its online virtual world, buildabearville.com. Cyberbullying, a growing problem among children, tweens, and teens, made national headlines in 2006 when a 13-year-old girl committed suicide after being bullied online by a group that included the mother of one of her former friends. The franchisor is focusing on online safety education and how to help prevent cyberbullying through several programs, by providing activities and materials to promote safe online 
play for kids, and by participating in a Stop Cyberbullying Coalition event on Capitol Hill on October 13.
  • Franchise Update
  • 4,022 Reads 3 Shares
Tropical Smoothie Cafe
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Tropical Smoothie Cafe
SPONSORED CONTENT
Tropical Smoothie Cafe
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The economy hasn't been the only problem wreaking havoc across the nation. Most cities are also reporting a disturbing trend of crime increases that experts tie to rising unemployment and a pattern of thefts called organized retail crime (a.k.a. organized retail theft). Beyond the convenience store "beer runs" and juvenile candy grabs, prosecutors and retailers alike are feeling the impact of retail theft groups targeting specific merchandise--not for personal use, but for resale through household sales, community swap meets, flea markets, or most commonly, over the Internet through one of the large online auction sites or community resale forums.
  • Rollie Trayte and Gary Widman
  • 5,813 Reads
The big multi-unit rollers who convened in Vegas this April represented more than $1.6 billion in annual revenues, and they were playing to win. It was all part of the 2009 Multi-Unit Franchising conference, sponsored by Franchise Update Media Group this past April 15-17 at the Bellagio hotel. The annual event, which attracted a record 500-plus multi-unit franchisees, franchisors, and vendors from across the country, was a sure bet for attendees.
  • Kerry Pipes and Eddy Goldberg
  • 4,784 Reads 85 Shares
Social media has exploded onto the franchising - and business - scene with a fury not seen since the early days of the World Wide Web back in the mid-90s. As more and more franchisors and franchisees begin experimenting and utilizing tools like Facebook, Twitter, and Youtube, we've decided to report on some unique, progressive, and innovative ways in which they've embraced this technology.
  • Multi-Unit Franchisee
  • 3,680 Reads 12 Shares
Gaining access to and securing capital is more important for franchisees today than ever. Every week we talk with multi-unit franchisees about how they are growing and the kind of financing it takes for them to achieve their goals and objectives. It's an important topic and sometimes we get some very candid responses.
  • Multi-Unit Franchisee
  • 6,547 Reads
Airport concessions may, at first glance, seem like a risky endeavor. Traffic has been steadily declining for a year - down nearly 12 percent in February 2009 when the FAA released its last traffic statistics - and the barrier to entry remains high. But consider the upside. The largest U.S airports host an average of 60 million passengers each year. Not one U.S. air carrier offers their coach passengers breakfast, lunch, or dinner service on domestic flights. Locations offering healthy, fresh, portable options are limited, yet travelers often have hours to wait for delayed flights, missed connections, or - in the best case scenario - a shorter than average security wait time.
  • Chris Cheek
  • 7,488 Reads 334 Shares
Jake was visibly upset when he came to see us. He had been planning to retire in 3 years by age 55, based on the combined value of his personal investments and his company. This was now on hold for an indefinite period of time. Like many, he had suffered a significant hit in the 2008 through 2009 stock market declines. He wanted to visit about the benefits of a comprehensive wealth plan - something he hadn't taken the time to explore in the past.
  • Nicholas K. Niemann and Andrew Horowitz
  • 6,459 Reads 1,014 Shares
It seems there really is a silver lining in every cloud. And the recent economic downturn has deposited a little of that silver at the feet of some multi-unit franchisees who can tolerate risk and don't mind a little "remodeling" work. Today, opportunities abound to buy distressed franchise units from other troubled or bankrupt franchisees--often for pennies on the dollar. If they have the stomach, these "rescuers" can snatch up these units, turn them around, and watch the dollars flow in.
  • Kerry Pipes
  • 7,900 Reads 2 Shares
Franchise training. It's likely one of the fundamental reasons you've selected a franchise business opportunity. It's all there - product and service information, operations details, marketing, accounting procedures - everything you need to know to operate a business is typically covered in some degree of detail by the franchisor. That's because the franchisor knows how the system works, they've refined it and they can offer that valuable knowledge to you as a new operator.
  • Kerry Pipes
  • 27,197 Reads 10 Shares
Back in 1989, I had an experience that remains vividly clear even now. I was driving through the small town of Monroe, La. Even though my windows were rolled up, there was an awful stench seeping into my rental car.
  • Jack Mackey
  • 6,106 Reads 1,023 Shares
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