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Unfortunately, few multiple-unit franchisees or managers fully understand working capital, how important it is for every business, how it is measured, or how to obtain needed working capital.
  • Mark E. Battersby
  • 5,412 Reads 2 Shares
There’s probably not a bigger franchise opportunity in America...literally. Weight loss franchises not only help individuals change their lives, live longer, and more healthfully, but also offer high earning potential for franchisees who are interested in a piece of the $46 billion weight loss franchise industry.
  • Kerry Pipes
  • 2,171 Reads 3 Shares
Last Saturday, mom and dad packed the kids into the minivan and headed out to the fitness center (Curves for her and Athletic Republic for him). First they dropped the kids off (one at Huntington Learning Centers, the other at Abrakadoodle). Before they left, they'd made sure the woman from Bathfitters knew exactly what they wanted done with their new shower, and reminded the man from Spring-Green to cut the back lawn extra short this week.
  • Eddy Goldberg
  • 4,544 Reads 1 Shares
Troy Medley has had two major life-changing experiences. The first came when he was just a 19-year-old college student in Missouri.
  • Kerry Pipes
  • 6,030 Reads 1 Shares
Even experienced area developers can get emotional about locations, says Jeremy Behar, president and CEO of Cirrus Tenant Services, a Toronto-based company specializing in real estate negotiations for various businesses, including franchises. As a consequence, he says, "They will do what it takes to sign the deal and get it done."
  • Ripley Hotch
  • 3,359 Reads 3 Shares
Sit-down restaurants, also known as casual restaurants, have re-established themselves in the world of franchising - a world more often associated with such fast-food standards as McDonald's, Burger King, Wendy's, KFC, Taco Bell, and Subway, for example.
  • Eddy Goldberg
  • 2,761 Reads 49 Shares
To those readers who are interested in legal affairs in the franchising context and are not subscribers to the American Bar Association's Forum on Franchising's listserv, you are missing one of the greatest shows in town. Listservs, chat rooms, blogs, and whatever else, are means to dialogue on the Internet and can turn into today's electronic equivalent of a lynch mob, as demonstrated by two recent exchanges on the forum's listserv on the subject of arbitration.
  • Rupert M. Barkoff
  • 3,643 Reads 16 Shares
Sure, you're measuring your advertising spending and marketing budget. But are you measuring the numbers that matter? Savvy franchisors who do are reaping bigger rewards at significantly lower costs.
  • Steve Olson
  • 8,667 Reads 1,023 Shares
A number of franchises now reaching a middle stage of life are facing issues they never anticipated when they first started selling franchises.
  • Ripley Hotch
  • 3,118 Reads 13 Shares
1987 was a good year for franchising. Up to then, franchising was young, brash, and not always professional. Franchises weren’t much concerned with history. They were built mostly by young entrepreneurs who saw an opportunity and grabbed it, looking forward, not backward. The first 30 years of modern business format franchising had the feeling of the Wild West (like the Internet of the last 10 years).
  • Eddy Goldberg & Ripley Hotch
  • 3,603 Reads 9 Shares
As the "franchise world" turns toward technology that allows us to respond automatically through emails, send links to articles, and educate customers through "mass information" emails, we may be looking past a simple premise of selling such as "building a relationship."
  • Marc Kiekenapp
  • 3,500 Reads 6 Shares
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When was the last time you made an honest assessment of who you have in the most important "chairs" of your operation? Your front-line staff single-handedly sets the tone of your customer service and "packages" your performance day to day. Is your packaging attracting or distracting? Does it gather customers, or chase them away?
  • Gloria Plaisted
  • 3,238 Reads 5 Shares
In the chronicles of franchising history, some names come immediately to mind - Ray Kroc, S. Truett Cathy, Dave Thomas. The names conjure up images of independent-minded entrepreneurs with the savvy, know-how, and vision to create successful business models replicable anywhere. As part of the celebration of Franchise UPDATE's 20th anniversary, we look back at some of these colorful, inspiring, and sometimes controversial characters.
  • Kerry Pipes
  • 4,950 Reads 15 Shares
Today's business environment is filled with incentives to move toward a paperless office, especially considering the ease and low cost involved in storing and sharing electronic data when compared with paper.
  • Dawn Newton
  • 2,990 Reads 8 Shares
We all know to expect death and taxes, but tenants can add one more thing to that list: lease renewals. A lease begins to expire the day it's signed. Yet, how often have you found yourself scrambling to negotiate a renewal in the last couple of months or weeks before the last day? If you're waiting until the last minute to make the critical decision about renewing, and on what terms, you're clearly not dealing from a position of strength.
  • Jeremy Behar
  • 5,491 Reads 259 Shares
In the chronicles of franchising history, some names come immediately to mind - Ray Kroc, S. Truett Cathy, Dave Thomas. The names conjure up images of independent-minded entrepreneurs with the savvy, know-how, and vision to create successful business models replicable anywhere. As part of the celebration of Franchise UPDATE's 20th anniversary, we look back at some of these colorful, inspiring, and sometimes controversial characters.
  • Kerry Pipes
  • 5,095 Reads
The year's fourth quarter marks the anniversary of my start in the investment management business many, many years ago. It also happens to coincide with the time of year my three kids go back to school.
  • Carol Clark
  • 2,943 Reads 1 Shares
How Do I Know? Multiunit franchising offers benefits - and risks - but it's a method of franchising that can be fruitful
  • Kerry Pipes
  • 2,621 Reads 4 Shares
Looking back at how technology has evolved in franchising, by far the most significant changes have taken place in the area of lead management. Some industry experts trace the first concerns over franchise lead management back to right around the invention of fire, while others maintain the issues arose later on in evolution, shortly after Nixon resigned. No matter. Franchise lead management and the use of technology for other mission-critical functions in franchising have come a long way in the past 20 years.
  • Dan Martin
  • 4,297 Reads 12 Shares
When native San Franciscan Ellen Hui left a career in banking in 1989 to take on her first Popeyes Chicken and Biscuits restaurant, she experienced a big culture shock.
  • Debbie Selinsky
  • 4,599 Reads 2 Shares
The franchise community landscape was dramatically different for executive search 20 years ago. When we began servicing the hiring needs of franchisors in 1983, the franchisor population was in the hundreds, with almost all franchisees, owners of individual locations. A very small number of U.S. franchisors had any international presence.
  • Doug Kushell
  • 3,371 Reads 5 Shares
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Until he hit 40, Rick Guerra ran hotels and restaurants "making a lot of money for other people," he says.
  • Debbie Selinsky
  • 3,524 Reads 15 Shares
Business. Opportunity. Two words that go together beautifully: Business Opportunity. For entrepreneurs, it's the stuff that dreams are made of.
  • Eddy Goldberg
  • 2,272 Reads 1 Shares
This issue marks the 20th anniversary of Franchise UPDATE, the company and the publication.
  • Ripley Hotch
  • 3,738 Reads 30 Shares
Subway continues to sizzle as one of the hottest franchises going. For the 15th time in the last 20 years, Entrepreneur magazine's annual Franchise 500 rankings have listed Subway as the number-one franchise opportunity. For perspective, when the chain was first named to the list in 1988, it had about 4,000 locations. Today, the chain operates 27,732 shops in 86 countries (as of June 2007).
  • Kerry Pipes
  • 4,088 Reads 40 Shares
Originally published in Area Developer Issue III, 2007, The AD 50 highlights the largest multi-unit franchise companies who support multi-unit franchising.
  • Area Developer Magazine
  • 6,128 Reads 1 Shares
Ed Doherty has been pushing the envelope on growing a business packed with different franchises - lots of them. To date, they include Applebee's (51), Panera Breads (15), Chevys Fresh Mex (3), and an original concept, the Shannon Rose Irish Pub (1), in New Jersey. And ahead on the menu are the 20 El Pollo Loco locations he's developing in New Jersey.
  • John Carroll
  • 5,646 Reads 1 Shares
The incredible surge in outsourcing prospect generation to franchise brokers has - literally - reshaped the sales programs of many franchise systems.
  • Steve Olson
  • 3,275 Reads 5 Shares
I remember the first budget I ever did for a business - for a newsroom where the previous year’s budget had been about $3 million (and 30 years ago, that was some real money). The boss just handed the spreadsheets to me and said, “We need this in a couple of days.”
  • Ripley Hotch
  • 3,343 Reads 1 Shares
So Franchise UPDATE is now 20 years old! When Ripley Hotch asked me to reflect upon developments in franchise law over the last two decades, I was honored. After all, I was there - the whole time and much before! I have been fortunate enough during my career to have served as a member of, a contributor to, or observer for, many of the groups that have influenced the direction of franchise law, and I have read hundreds of precedents that have made franchise law what it is today.
  • Rupert M. Barkoff
  • 3,392 Reads 1,014 Shares
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