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These days, social media is one of the key ways brands nurture relationships with their loyal customer bases. In a lot of ways, a brand's social media presence serves as an overall indicator of the health and strength of a brand. For a brand like Denny's, which has nearly 97 percent brand awareness and a 57-year history, most franchise candidates come to us with some experience with and affinity for the brand.
  • Franchise Update
  • 5,652 Reads 206 Shares
Last time we looked at how unit economics offers a progressive strategy for tracking and managing costs and revenue at franchise locations. It's a tool that has become a necessity to many savvy franchisees, and it's a tool that should be in place from day one.
  • Kerry Pipes
  • 17,687 Reads 2 Shares
Cary Albert is sold on the value in unit economics. The Dallas, Texas-area multi-unit franchisee operates Schlotzsky's and Cinnabon locations and says there's no question his operation benefits from keeping an eye on unit performance numbers.
  • Kerry Pipes
  • 9,385 Reads 1 Shares
As a franchisee, you may have found it quite easy to secure a lease with a commercial landlord; however, you may face many roadblocks if, or when, you need to terminate your lease.
  • Dale Willerton
  • 39,482 Reads 3 Shares
Pizza franchising is a tough market. The competition is stiff and the recent economic recession really put the squeeze on many franchise operators. But despite pizza price wars and price-sensitive consumers, operators like Glenn Ajmo have discovered a few silver linings that are helping him sustain growth.
  • Kerry Pipes
  • 7,239 Reads 1,023 Shares
Dave Melton has learned more than a few lessons during his 28 years as a multi-unit franchisee. The Domino's Pizza operator has ruled the New York DMA, and in 2009, his units took over the number one slot for sales in any Domino's market. All this while his stores generated annual revenue of $6 million.
  • Kerry Pipes
  • 4,112 Reads 28 Shares
Bashir Shams spent 28 years with one of franchising's giants. He built a successful company and a prosperous career with his multi-unit Burger King operation in Mississippi. So why would he walk away from that to team up with a relative newcomer to franchising? That's just what we asked him about his latest plans to ultimately open two dozen locations of ZIPS Dry Cleaners on the East Coast.
  • Kerry Pipes
  • 4,587 Reads 107 Shares
7-Eleven is going to the chickens--or at least whatever animals are on FarmVille, the popular Facebook game. It's all part of the company's new ad campaign designed to drive Facebookers to visit their convenience store franchisees. And it's working.
  • Lisa Wehr
  • 6,683 Reads 16 Shares
As I write this piece, it is a nostalgic moment for me: 37 years of practicing law, and all with the same firm. In today's environment, inertia in law firm employment is a rare thing. If I knew then what I know today, would I have gone into private practice?
  • Rupert M. Barkoff
  • 4,098 Reads 1 Shares
Restaurant work was just supposed to help Aziz Hashim pay his way as he pursued his life's dream of becoming an electrical engineer. But by the time he landed the "big job" at Rockwell, he discovered that he had been living the dream all along.
  • John Carroll
  • 6,776 Reads 162 Shares
Social media platforms are now emerging as franchise recruitment tools. Granted, it's still early in the adoption process and only time will tell how successful these new channels are in generating leads and franchise sales.
  • Kerry Pipes
  • 13,727 Reads 1 Shares
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Those pondering a future in franchising face many important decisions. Beyond nuts-and-bolts basics such as raising capital, identifying a brand that fits, and completing the paperwork, are other – just as important – factors to consider. One such topic is what's known as unit economics. Anyone who has ever cracked open a business school textbook understands that the bottom line of the monthly financial statement of any company should reflect profitability – if the company is to survive. When the numbers are in the black the business is generating more than it's spending. It's simplistic but effective. But there can and should be a more sophisticated approach to operating a franchise in a fiscally responsible way.
  • Kerry Pipes
  • 17,910 Reads 1 Shares
Sales intelligence gives you the competitive edge. Growth companies know that if you're not guarding your front and backside, you'll fall behind in the race. They keep smart and savvy by gathering data, insights, and profiling information from their franchisees, sales people, and competitors. Periodic feedback sets you atop of and in tune with the highly competitive recruitment environment. You can reap the rewards and gain the inside track on building a better, more attractive franchise program for franchisees.
  • Steve Olson
  • 4,050 Reads 7 Shares
Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced the Multi-Unit Franchisee Conference Advisory Board will meet August 5-6 in Atlanta to plan the 2011 conference agenda. The 2010 event attracted multi-unit operators from food, retail, and service businesses that represented $2 billion in annual revenues.
  • PRESS RELEASE
  • 5,168 Reads 20 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
  • 10,269 Reads 93 Shares
As we work our way out of the current recession, we are already starting to see early signs of life in the merger and acquisition market.
  • Dean Zuccarello
  • 4,489 Reads 69 Shares
Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced that it is seeking an additional Business Development Executive, who will report to Steve Olson, publisher and chief development officer for FUMG.
  • PRESS RELEASE
  • 2,648 Reads 1 Shares
Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced that registration for the 12th Annual 2010 Franchise Leadership and Development Conference is on track to setting new attendance records. More than 200 franchisor executives representing more than 150 brands will meet at the premier industry sales and development event, which will be held September 22 - 24, 2010 at the Ritz Carlton Buckhead, Atlanta.
  • PRESS RELEASE
  • 3,007 Reads 11 Shares
New Jersey native and veteran franchisee Frank Bonanno says he learned early in life that he wanted to do something "easier" than mixing cement and carrying bricks and blocks like his contractor father
  • Debbie Selinsky
  • 11,518 Reads
Multi-unit franchisees have tremendous potential to increase their current revenue and future growth simply by reducing customer service breakdowns and improving service recovery. I call this "found money" because these dollars come from existing customers.
  • Jack Mackey
  • 4,608 Reads 1,023 Shares
It's likely that more than a few people researching franchising are doing so for a completely different reason than those who have been downsized or simply want to own their own business. The backbone of the American economy has always been the hard-working small business men and women who produce great products and services while providing jobs and offering employees a way to support their families. But what happens when a small independent businessperson is approached by – or discovers that - a franchisor is interested in converting their mom and pop business into one of its own franchise units? Well, it's a scenario that seems to be playing out more and more in recent years. Like many other topics we have covered, there is no simple or definitive answer.
  • Kerry Pipes
  • 19,691 Reads 5 Shares
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Have you recently stayed at a branded hotel, or eaten at a franchised restaurant where the property was tired-looking and in need of an update? Was the overall experience less than expected because of the worn-out facility? On your next trip did you make a point to book a room or eat a meal at a competing brand, where the facilities and amenities were up to date? Worse yet, was the property yours?
  • John Geenen
  • 5,434 Reads 23 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
  • 11,411 Reads 93 Shares
Franchisors that provide a strong support program to help struggling franchisees should seriously consider using this as a selling point to help make new franchise sales in uncertain times.
  • Eddy Goldberg
  • 4,094 Reads 12 Shares
So what do you do with franchisees that "aren't making it happen?" The ones who don't fit your formula and, realistically, will never turn things around? How do you make the best of a bad situation? The solution is logical.
  • Steve Olson
  • 4,283 Reads
Franchise Update Media Group recently conducted a survey of social media usage by franchisors who are actively recruiting franchisees. The questions dealt not only with social media in consumer-oriented marketing, but more important for franchise development teams, its use in franchise recruitment.
  • Kerry Pipes
  • 9,624 Reads
Your franchise plan should include a well-rounded checklist Joining the world of franchising can be an exhilarating - and often frightening - process. It requires a tremendous amount of research mixed with a bit of intuition and gut feel. To do it properly requires the careful development of a plan of action. One of the best ways to plan for something significant is to create a checklist and make sure that you cover and review each step.
  • Kerry Pipes
  • 14,496 Reads 1 Shares
There was a sports theme in the air as legendary NFL player and Super Bowl-winning coach Mike Ditka addressed the crowd at the recent Multi-Unit Franchising Conference in Las Vegas. Coach Ditka talked about the importance of having great players. And finding and developing great franchise players was on the minds of the numerous franchise sales and development executives attending the event. All agree that finding great franchisees is critical to building a successful franchise system.
  • Kerry Pipes
  • 3,541 Reads 3 Shares
Ken Greene has a secret. When he gets ready to open a new Honest-1 Auto Care franchise unit in New York (34 now and counting), he knows how to save up to 60 percent on the cost of his equipment.
  • Kerry Pipes
  • 9,854 Reads 1 Shares
Aziz Hashim turned his back on what would have been a lucrative career in electrical engineering following college, to return to his passion for the franchise business - where he first worked during his high school years. He loved the social interactions he experienced in the food business and was drawn back to it. His very first franchise location was a KFC he opened in downtown Atlanta in 1996.
  • Multi-Unit Franchisee
  • 6,631 Reads 9 Shares
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