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Against a background of greater economic uncertainty in 2008, will franchise development become more difficult? In a word, yes. To be clear, the franchise business model is alive, well, and growing. This decade's accelerating growth in units and expansion of companies embracing the franchise business model are testament to that. However, it appears that more challenging times are awaiting us in 2008. Here are some of the reasons—and suggestions for what franchisors can do.
  • Darrell Johnson
  • 3,801 Reads 3 Shares
As we have highlighted throughout 2007, the change in the economy we anticipated is finally upon us.
  • Dean Zuccarello
  • 4,306 Reads 1,021 Shares
An industry analyst digging into reams of franchise industry data would find that about half of all franchisees across the country are busy operating more than one unit -- and often, more than one brand. It's a phenomenon that has changed the face of the franchise industry over the last decade. And though there hasn't been much significant change in percentages so far in 2008, it's likely to remain a strong and growing trend.
  • Kerry Pipes
  • 5,555 Reads 1,023 Shares
Customer loyalty cannot be bought. Loyalty is created by great experiences. And loyalty is lost by poor experiences--or loyalty is lost to a competitor who takes care of customers better than you do.
  • Jack Mackey
  • 3,221 Reads 3 Shares
"How's risk management in the big bank world?" he asked the banker. "I wish it were that," the banker replied. "It's more about risk elimination. We won't make a loan to anybody unless they don't need the money."
  • Eddy Goldberg
  • 3,904 Reads 7 Shares
The news is depressing, the economy is sinking, financing is hard to get, the market is down, gas prices are up, and competition is fierce. So why are all these multiunit franchisees smiling?
  • Bill Hall
  • 3,536 Reads 1 Shares
If you were fortunate enough to attend the annual Area Developer Multi-Unit Franchising Conference this April in Scottsdale, you know that the weather was terrific, the facility outstanding, educational sessions abundant, and that franchise networking opportunities flourished late into the cool desert night.
  • Bill Hall
  • 3,268 Reads 1 Shares
As vice president of concept development at HMSHost, Novack has his plate full, and seems to relish every bite.
  • Eddy Goldberg
  • 6,751 Reads 1,023 Shares
During the past 20 years, we have witnessed a generation of multiunit franchise operators grow up. Today there are more than 40,000 of them.
  • Darrell Johnson
  • 6,293 Reads 1 Shares
Franchise Update Media Group, the leading industry resource for franchise development, today announced publication of the 2008 Annual Franchise Development Report (AFDR), the most comprehensive research guide in the industry. Entitled "Measuring Up," the report identifies sales benchmarks and marketing intelligence that help franchisors accelerate their expansion and improve recruitment practices.
  • Press Release
  • 2,856 Reads 1 Shares
In June 2008, heavy rains caused flooding that filled the basement and rose two feet high on the first floor of Columbus Regional Hospital in Columbus, Indiana. The flooding closed the hospital, forcing the evacuation of 157 patients and causing an estimated $125 million in damages. Paul Davis National (PDN) was soon on the scene, part of the team brought in to mitigate the damage and allow the regional health care facility to reopen as quickly as possible.
  • Eddy Goldberg
  • 3,558 Reads 1,021 Shares
Vocelli Pizza
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Vocelli Pizza
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Vocelli Pizza
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The Government of Afghanistan is currently reviewing a bill that would reform and modernize the country's contract law. Afghanistan is a civil code jurisdiction and, currently, contracts are governed by sections of the country's Civil Code (dating from 1976) and Commercial Code (dating from 1955). Both the 1976 Civil Code and the 1955 Commercial Code are based on the laws of Egypt, which in turn are based on French civil law. During the period following the Soviet invasion, and the subsequent civil war in Afghanistan, little attention was paid to updating or modernizing these Afghanistan statutes.
  • Herbert S. Wolfson
  • 11,562 Reads 3 Shares
Korea's first franchise law, the Fair Franchise Transactions Act (the "FFTA") was adopted May 2002, effective Nov. 2002. Its Presidential Enforcement Decree - setting forth detailed information to be provided in the franchise information disclosure statement and a description of concrete types of unfair transactions broadly prohibited under FFTA - was promulgated Nov. 2002 (last amended June 2003). In the Korean system, Enforcement Decrees provide detailed instructions for statutory compliance; therefore, it is to be expected that 2004's changes to applicable law will be found in future amendments to the Enforcement Decree.
  • Hyun-Sang Youn & Brendon Carr
  • 5,405 Reads 31 Shares
Take control at the outset of your selling process and you'll accelerate your recruiting success. It sets the stage for your entire relationship. Sales pros agree your first session with qualified prospects who have sent their applications is the ideal opportunity to begin closing. It can make the difference between celebrating another franchise sale - or losing another candidate who drifts from your reach.
  • 2,492 Reads 1 Shares
Try out a few of these selling tips to sharpen your process and accelerate your inquiry to close cycles. These techniques are bringing deals faster for franchisors. See what makes sense for your development approach and you can enjoy more closes in less time.
  • Steve Olson
  • 3,515 Reads
Ask any small business owner in the country how important customer retention and loyalty are and they'll tell you they rank right up top of the list of business priorities. It's no different in franchising.
  • Kerry Pipes
  • 3,557 Reads 76 Shares
Franchise Update Media Group, the leading industry resource for franchise development, today announced that Area Developer Magazine has a new name: Multi-Unit Franchisee Magazine, effective with the Issue III 2008 edition, which will be published at the end of the month.
  • Press Release
  • 5,149 Reads
Beyond the unmistakable impact of the Internet and World Wide Web, advances in technologies used every day by franchisees are continuing to change the face of franchising -- and the way franchisees do business.
  • Eddy Goldberg
  • 3,843 Reads 1,014 Shares
Franchise Update Media Group, the leading industry resource for franchise development, announces that registration is now open for the 10th Annual Franchise Leadership & Development Conference, which will be held at The Drake Hotel in Chicago, Sept. 24-26, 2008. The theme for this year is "Driving Performance in Tough Times."
  • Press Release
  • 3,292 Reads 3 Shares
Say you're purchasing some delicious tropical fruits from a street vendor, only to discover that you have no small bills. You probably will receive a smile and a "mai pen rai" along with your snack and a sizable wad of 20 baht notes. An employee arrives at an important meeting 45 minutes late. If the other attendees notice the straggler's tardiness at all, they are likely to dismiss it with "mai pen rai" and continue their discussion.
  • Brian Clark
  • 6,448 Reads
Think of it as hoses-to-go. A broken hose can spell disaster for many businesses. A machine breakdown at a job site or factory can cause work to grind to a halt. And sometimes it can take days or weeks until the proper replacement hose can be obtained and the machines repaired. In purely economic terms, a $20 broken hose can bring a $3 million crane to a standstill - not to mention the paid employees who are idly standing by.
  • Kerry Pipes
  • 5,662 Reads 1,014 Shares
Wienerschnitzel
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Wienerschnitzel
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In our last article we explained how to perform a country ranking analysis. In a recently completed engagement, management indicated that a number of revolutionary learnings occurred as a result of our analysis and that those learnings have radically impacted the company's expansion plans.
  • Todd Anders
  • 4,133 Reads
Franchisees aren't the only ones with more than one brand these days. Increasingly, franchisors are getting into the act as they see the value in selling multiple brands from under one corporate roof.
  • Eddy Goldberg
  • 4,399 Reads 1 Shares
As "newbie" franchise companies decide on strategies to grow their systems, they have three choices:
  • Marvin Storm
  • 4,993 Reads 1 Shares
When you see Dunkin' Donuts, Choice Hotels, and Supercuts landing the big deals, the question is, "Why can't I?" How can you attract these mega franchisees? How do they shop for additional concepts? What turns them on? What scares them off?
  • Steve Olson
  • 3,804 Reads 5 Shares
Over the last year or so, the folks at Franchise Update have started to spot some curious trends around young people entering the franchise community.
  • Jennifer Kushell
  • 6,068 Reads
Every year thousands of franchise companies pour money and other precious resources into lead generation and sales with varying degrees of success. But few rise to the top.
  • Kerry Pipes
  • 4,424 Reads 34 Shares
In taking various licensed concepts to some 70 countries, we have seen numerous approaches to how licensors evaluate new countries. These approaches can be classified into three basic categories: the reactive approach, the shotgun approach and the predictive approach. In general, these three approaches can be described as follows...
  • Kevin Ainsworth and Todd Anders
  • 4,013 Reads 9 Shares
In franchising, no one has to be reminded of the importance of making deals and signing fabulous new franchisees. But unless you actually open new units, inking the deal is only part of the story. This important distinction--between units sold and units opened--led us to examine six franchises that grew by more than 100 units between 2005 and 2006 and ask them how they did it.
  • Debbie Selinsky
  • 4,408 Reads 25 Shares
For over a quarter of a century, I have been a critic of the United States' franchise sales regulation system.
  • Rupert Barkoff
  • 3,780 Reads 3 Shares
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