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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
  • 3,323 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
  • 3,402 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
  • 5,009 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
  • 3,676 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
  • 3,172 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
  • 6,260 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
  • 5,530 Reads 1,014 Shares
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
  • 3,961 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
  • 4,233 Reads 1 Shares
As "newbie" franchise companies decide on strategies to grow their systems, they have three choices:
  • Marvin Storm
  • 4,790 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
  • 3,629 Reads 5 Shares
Hungry Howie's Pizza
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Hungry Howie's Pizza
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Hungry Howie's Pizza
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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
  • 5,869 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
  • 4,292 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
  • 3,832 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
  • 4,208 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
  • 3,573 Reads 3 Shares
Let's hope we're already well into a recession. Historically, that's been a good time for franchise sales. But before you start shopping for that new boat, the pain will continue for many brands. But not all.
  • Eddy Goldberg
  • 3,985 Reads 5 Shares
We are no longer doubting whether we are in a downturn. (As an economist, I'll refrain from calling it a recession until the economy's performance meets the technical definition.) Now the issue is how long, and how deep, a downturn we are in. Let's take the conservative approach to economic forecasting and assume that it could be longer and deeper than the past few downturns. What does that mean for unit development?
  • Darrell Johnson
  • 4,849 Reads 5 Shares
Last issue we discussed how to benchmark your marketing and lead generation process. This time let's explore key metrics for monitoring your sales process.
  • Steve Olson
  • 3,647 Reads 14 Shares
Kahala Corp. moves fast. When we first spoke with Chris Prasifka in late March, he was executive vice president to the CEO. Two weeks later he was president of Kahala Franchise Corp.--and charged with leading the franchisor and its 13 brands from 4,600 units to 10,000 units by the end of 2010 (an average of 170 units every month for 32 months).
  • Eddy Goldberg
  • 5,333 Reads 133 Shares
What a great time to be in the franchise development business! We have the advantage of an election year, talk of recession, high interest rates, poor housing starts, and rising unemployment rates.
  • Marc Kiekenapp
  • 3,232 Reads 31 Shares
Movita Juice Bar
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Movita Juice Bar
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Movita Juice Bar
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At PuroSystems, the vice president of franchise development has an advantage his peers would envy--if they knew it existed: he can listen in live on a franchise sales call, privately offering advice and feedback to his salesperson as the discussion unfolds.
  • John Carroll
  • 3,416 Reads 37 Shares
Running a racquet and health club is a time-consuming business and one that Bruce Forsythe knew quite a bit about. He'd been running one with his partners in Long Island, N.Y. for about 14 years when the team decided to turn one of their former tennis court areas into a second -- and different -- business endeavor.
  • Kerry Pipes
  • 2,575 Reads 58 Shares
For America's Top Franchisors, Search Delivers Exponential Growth Opportunities. Are the Top Contenders Capitalizing?
  • Oneupweb®
  • 8,207 Reads
The past decade saw an acceptance by the Romanian market of the Western concepts of doing business, a new perception of the value of brands and the creation of an entirely new market - the one for franchisers. Seven years have passed since Romania enacted a franchise law. During this period, the market has evolved, and the pioneering period in franchising during which major companies entered the market only for market testing - first performing distribution operations (Coca Cola) or establishing a subsidiary (McDonald's) and only afterwards developing their franchise concepts - has come to an end. Indeed, 60 of the 107 franchises currently operating in Romania have been established during the last two years.
  • Roxana Negutu
  • 6,138 Reads 1 Shares
When Lino DeFeo bought a Sign-A-Rama franchise in West Palm Beach, Fla., he didn't know much about signs. That was about 15 years ago. DeFeo had sold his trucking business in Manhattan and moved to Florida with his wife Maria and their two young children to join a family business. But that didn't work out exactly as planned. "I got out before we totally killed each other," he says with a laugh.
  • Eddy Goldberg
  • 9,276 Reads 1,014 Shares
Motherhood is one of the toughest jobs in the world - just ask any mom. It's often thankless, seems endless, and certainly lacks much worldly prestige. Life for mom can be even more challenging if she desires to work outside the home to boot. There are, after all, limited choices beyond the full-time job and requisite daycare for the kids. In a month where we stop for a day (May 11) to recognize all that mom does, it's interesting to note that more and more moms are finding a place at home and in franchising. Moms like Liz Norwood in Denver, Colo.
  • Kerry Pipes
  • 3,204 Reads
Elaine Stroman was making great money. She had spent the better part of two decades working as a mortgage banking consultant helping people buy and renovate brownstones in old New York City neighborhoods such as Harlem. She worked on 100 percent commission and was completely in charge of every penny she earned.
  • Kerry Pipes
  • 2,041 Reads 5 Shares
Mike Ghaida lives in a million-dollar house in a quiet suburb in New Jersey with his wife and three sons, and $300,000 worth of cars in his driveway. It wasn't always this way for the 41-year-old Ghaida, who came to the U.S. from Lebanon at 17 to study English and architecture at LSU.
  • Eddy Goldberg
  • 22,806 Reads 355 Shares
According to the U.S. Administration on Aging, by 2030 the number of Americans aged 65 and older will more than double to 71 million, that's roughly 20 percent of the U.S. population. In some states, as much as a quarter of the population will be aged 65 and older.
  • Kerry Pipes
  • 4,092 Reads 1,014 Shares
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