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In the previous issue, I presented observations about defects I perceived in the U.S.'s system of franchise sales regulation. The essence of my position was that having duplicative regulation at the federal and state levels adds significant costs to the regulatory system--with little improvement in the regulatory environment.
  • Rupert M. Barkoff
  • 7,334 Reads 5 Shares
On many occasions during the past year, I've seen and heard the past 10 years dubbed as "The Lost Decade." From a stock market perspective--with prices essentially flat between 2000 and 2010--it's not hard to understand why. Upon writing this article, the annualized return on the S&P 500 over the past 10 years was -0.68 percent, versus the average return of 6.28 percent since 1929 (according to FactSet Data Systems). Interestingly, over a similar time frame, aggregate corporate profits have doubled while total household net worth is about 50 percent higher.
  • Carol Clark
  • 5,007 Reads 14 Shares
The economy continues to show signs of improvement and the executives at Multi-Unit Franchisee Magazine's Multi-Unit Franchising Conference have factored this new business reality into the planning of their annual event. This year the Multi-Unit Franchising Conference will take place April 27-29 at The Venetian in Las Vegas. The theme is "What's Next. Plan Tomorrow Today."
  • Multi-Unit Franchisee
  • 10,720 Reads 554 Shares
As savvy franchise companies continue to flourish in a challenging economy, FUSR continues 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. And, as the U.S. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities.
  • Eddy Goldberg
  • 9,540 Reads 93 Shares
Multi-unit franchisee owners should be fully aware of the specific considerations relevant to small commercial site development prior to committing to a lease or property purchase. The challenge of fitting many required components onto a small parcel can be daunting, especially when considered in conjunction with evolving local ordinances and state regulations, which are on the rise. The best method of ensuring that the proposed site will work, and do so in the most efficient manner possible, is to apply rigorous due diligence in the development design process.
  • Bob Ziegenfuss, P.E.
  • 9,106 Reads 3 Shares
In last month's Franchise Update Sales Report, I provided an introduction to working with brokers to increase your franchise sales, and highlighted some of the advantages of using brokers as part of your development strategy. This month I examine some of the risks and downsides, as well as how sign up with a broker that works for you.
  • Steve Olson
  • 5,031 Reads 245 Shares
Online behavior is maturing more rapidly than ever before. Social networking advancements from all the market leaders have, and will forever, change how we collaborate, communicate, share, and engage with any relationship online--whether it's the closeness of a family member or a first encounter with a franchise sales representative. Trust and transparency are the new operating rules, and engagement is determined by the initiator.
  • Tom Hochstatter
  • 4,106 Reads 10 Shares
Charles Smithgall is the incoming Chair of Franchise Update Media Group's 10th Annual Multi-Unit Franchising Conference, April 27-29, 2011 at The Venetian hotel in Las Vegas. This is the only national conference focused exclusively on multi-unit franchisees. The theme this year is "Plan Tomorrow Today."
  • Charles Smithgall
  • 4,405 Reads 40 Shares
Many years ago (I won't say exactly how many) as a small boy, I would fish off a wooden pier on the banks of Mobile Bay near the Gulf Coast. To this day, my younger brother talks about the "Monster Fish."
  • Larry Carnell
  • 4,614 Reads 1,023 Shares
When Indianapolis native Greg Willman and his friend Phil Salsbery talked years ago about forming a small investment company or owning and operating franchise concepts, they consciously omitted the restaurants category. "Neither of us knew anything about the food industry or had any experience in it," recalls Willman, who had worked in marketing and product development at large pharmaceutical, chemical, and medical device corporations
  • Debbie Selinsky
  • 4,912 Reads 61 Shares
Now, more than ever, is the time for every franchisor to look at opportunities to expand its system outside the United States. A bold statement, especially coming from a lawyer who, for the past 27 years, has cautioned clients and employers against moving too quickly outside the U.S. when the brand hasn't yet been fully exploited within the U.S.
  • Michael Daigle
  • 5,821 Reads 3 Shares
The Human Bean
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Truly great franchise sales and development teams are hard to find... and can be even harder to create. For franchise sales executives, attracting the right mix of people, passion, and experience, along with creating a positive culture and providing the right mix of recognition and reward, it's a delicate balance. Achieving that balance means the difference between a marginal brand and a great one
  • Kerry Pipes
  • 4,529 Reads 68 Shares
Family and entrepreneur-run businesses face many unique and complex challenges, including succession planning. Generally, family businesses are more than just a place of work; there is emotional as well as financial capital tied up in the business, and passing on the family legacy can be stressful and fraught with difficulty.
  • Dean Zuccarello
  • 7,036 Reads 107 Shares
Happy New Year to all! The parties and holidays are all now behind us and it's time to get back to assisting people who are searching for the business of their dreams. We all know making a decision to start a business during uncertain times takes a special individual who possesses a vision and drive for success. Over the years some of the strongest and most successful businesses have started, and even thrived, during all sorts of economic conditions.
  • Marc Kiekenapp
  • 2,904 Reads 1 Shares
Now that we are freshly off the annual rite of late fall--the annual budget process--it might be a good time to consider how it could be done differently next time around. Conceptually, the budgeting process for franchise companies is pretty simple: pick some revenue numbers that build off the previous year's performance and do the same for expenses.
  • Darrell Johnson
  • 3,088 Reads 1 Shares
One of the most challenging problems in franchise recruitment is keeping prospects and candidates engaged throughout the sales process. That's what recruitment technology is for: not only to keep track of candidates in your pipeline, but to keep them moving forward through your sales process, even when the office is closed.
  • Eddy Goldberg
  • 3,714 Reads 1 Shares
Contract negotiations are usually about the relative value of "things." Each party seeks the highest value for their "thing" while downplaying the value of the other's "thing." Negotiations around those "things" are particularly difficult in international franchise transactions where relationships can span generations, territories can include entire countries, and the franchisor's system is at the core of the franchisee's business. In other words, the franchisee will set out to build an empire on a foundation it only borrows from the franchisor. That fact critically shapes the parties' negotiations.
  • Michael Daigle
  • 5,661 Reads 36 Shares
Multi-Unit Franchisee Magazine today announced that nominations are now open for the annual MVP (Most Valuable Player) Awards, recognizing the industry's best in franchisee talent, performance and excellence. The deadline for entry is March 15, 2011, and the winners will be announced on April 28, 2011 at the Multi-Unit Franchising Conference in Las Vegas.
  • PRESS RELEASE
  • 3,334 Reads 8 Shares
The onset of social media may have taken some by surprise, and others may have written off its arrival anticipating an equally quick departure. Whichever it may be, social media is not a passing fad and should be recognized as an integral part of marketing.
  • Keith D. Klein
  • 3,496 Reads 7 Shares
Are you someone who would you like to know the calorie count of that scrumptious three-layer cake at your favorite restaurant? Even if you're not, menu labeling is now a fact for U.S. restaurant-goers and many restaurant operators alike under the new national health care law, the Patient Protection and Affordable Care Act. Section 4205 of the Act, signed into law March 23, 2010, sets new federal requirements for nutritional labeling of foods sold at "chain retail food establishments."
  • Regina Amolsch
  • 3,177 Reads 15 Shares
When Indianapolis native Greg Willman and his friend Phil Salsbery talked years ago about forming a small investment company or owning and operating franchise concepts, they consciously omitted the restaurants category. "Neither of us knew anything about the food industry or had any experience in it," recalls Willman, who had worked in marketing and product development at large pharmaceutical, chemical, and medical device corporations.
  • Debbie Selinsky
  • 9,139 Reads 1 Shares
Vocelli Pizza
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Many new franchisees discover that they love being a franchise operator but often quickly learn that they can't always be in the store overseeing operations at all times. This is especially true as single unit operators expand. Since hourly employees typically need oversight, guidance, and sometimes redirection, many franchisee operators often turn to unit managers to help them keep the unit operating at maximum efficiencies. It's this "point man" who often wields the knowledge and power that can significantly affect a franchisee's bottom line. Naturally, you want talented and motivated managers.
  • Kerry Pipes
  • 19,476 Reads 1 Shares
Refugees from corporate America seeking capital to open a franchise business are tapping into their retirement plans to fund their fledgling businesses. So are multi-unit franchisees seeking to expand.
  • Eddy Goldberg
  • 8,791 Reads 1,023 Shares
Jim Carroll loves to predict where the world is going. As such, he has become one of the world's leading international futurists, trends, and innovation experts. His analysis digs deep into topics such as technology, business model change, fast paced innovation, and global challenges and growth. He's been in demand with such clients as Northrop Grumman, Visa, Rockwell Collins, Lincoln Financial, and the Walt Disney organization. He was featured as an innovation expert on the global CNBC show, the Business of Innovation, and was named one of four leading sources for insight into innovation by Business Week magazine.
  • Kerry Pipes
  • 12,316 Reads 1,023 Shares
In today's tight market, negotiation strategy plays an important role in the sale of any franchise. Even if you execute every other aspect of your business sale perfectly, the lack of a good negotiation strategy can still derail the deal. A good business broker can help, but ultimately the business owner will need to be an integral part of negotiations.
  • Mike Handelsman
  • 9,114 Reads
Gary Hughes turned 50 and decided he'd had enough of the corporate executive life. Based in the Seattle area at the time, he also decided he'd seen enough big city congestion to last a lifetime. Hughes soon found a picturesque, midsized town to call home and moved to Clarkston, Wash., pop. 50,000. "I used to say that we're so far out into the boondocks it's 120 miles to the nearest freeway," says Hughes gleefully.
  • John Carroll
  • 4,261 Reads 31 Shares
Your hourly employees…they're the face of your franchise business. They greet and serve customers and are essentially the cornerstone of your customer service efforts. So it only makes sense that if you've gone to the effort to recruit right that you would want to make sure that you keep those top employees happy and motivated. You might be surprised how poorly some franchise operators actually are when it comes to motivating their hourly employees.
  • Kerry Pipes
  • 23,999 Reads 3 Shares
In 1980, Bob Chase was in his early 20s, with a small family and not much money. He was barely able to start his first franchise, a Dry-Chem carpet cleaning operation, from a then-fledgling franchisor. But Chase wasn't the kind of young man to let a few little things like that stop him from building his own business from the ground up.
  • John Carroll
  • 9,374 Reads 1,061 Shares
Shiny objects marketing is a simple principle, ancient in origin and easy to apply. From open-air markets in Nepal to the local mall, everyone tries to make their product or service stand out. Yet many savvy entrepreneurs fail to grasp the full meaning of this elementary skill and run into difficulties when trying to put it into practice.
  • Dave LaBonte
  • 4,285 Reads 72 Shares
In the first part of my three-part series on leadership, I discussed leadership fundamentals and items needed in your leader's toolkit. Part two of the series outlined the three C's: Capability, Competency and Capacity. In part three, I will discuss putting good leadership to work and how to stay on track.
  • Tom Welter
  • 3,571 Reads 21 Shares
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