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Non-traditional retail business locations such as airports, hospitals, and universities have become popular (and successful) business opportunities for some franchise brands that are actively on the grow. These types of locations usually offer plenty of customers and often only a few choices for food, beverage, and beyond. It's a perfect combination. Now add Bruegger's Bagels, Fazoli's Restaurants, Friendly's Ice Cream, Smokey Bones Bar & Fire Grill, and Timothy's Coffees of the World Inc., to that list of progressive franchise operators looking for new opportunities.</p>
  • Multi-Unit Franchisee
  • 3,711 Reads 7 Shares
2009 was a difficult year for most franchisors, but 2010 is a new year and many franchisors are again looking to grow their businesses. Developing and implementing a "non-traditional" franchise program is one of several key growth vehicles that we will explore in our three part series.
  • Robert A. Lauer, Haynes and Boone, LLP
  • 5,420 Reads 1,014 Shares
"In light of the current job market, how do you attract and retain top talent in your corporate office/sales development department?" As the leader of a franchise company, attracting, retaining, and motivating our team are among my very top priorities. After all, franchisors are service organizations and service organizations are only as good as their people.
  • Kerry Pipes
  • 6,300 Reads
Just as you were getting comfortable with web analytics, here comes Social Media!, presenting a new set of opportunities and a new set of confusion. The overriding goal still is to integrate Facebook, Twitter, YouTube, and any other social media tools into your marketing mix. However, following last year's overwhelm of social media as the latest and greatest, companies are now taking a more sober look at its ROI. That means finding ways to measure it, a new search for meaningful metrics.
  • Franchise Update
  • 4,073 Reads 4 Shares
As savvy franchise companies continue to flourish in this challenging economy, FUSR will 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. economy struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities - and this month, we report on an overseas franchisor set to open its first U.S. location, as well as several new entrants to franchising.
  • Franchise Update
  • 7,035 Reads 93 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, introduces "Multi-Unit Leadership-in-a-Box," an off-the-shelf, interactive, and multimedia franchisee training resource, developed in partnership with Sullivision.com. This program is based on three years of research that details the best practices and leadership insight of over 1,000 high-performing franchisees and multi-unit leaders. Customizable for any brand, Multi-Unit Leadership-in-a-Box is a complete leadership class that's instantly ready to teach and guaranteed to boost sales at least 1% in each market.
  • PRESS RELEASE
  • 4,525 Reads 14 Shares
As franchisors prepare for the upcoming renewal season, increased efficiency is likely a top priority for your franchise system. Our franchise team at Faegre & Benson has identified 12 tips to help you save time and money in preparing for a successful 2010 renewal season.
  • Brian Schnell
  • 3,153 Reads 2 Shares
Every sales professional knows the power of face-to-face contact. Franchise shows and similar forums are the opportunity to shake hands and personally connect with business buyers. But as show veterans realize, the show venue requires a different sales process than working Internet, broker, or print leads.
  • Steve Olson
  • 3,193 Reads 17 Shares
A major problem for many franchise sales people is how to say [i]"No"[/i] to unqualified prospects early in the process (especially in today's highly competitive recruitment market).
  • Steve Olson
  • 2,466 Reads 4 Shares
After graduating from the University of Pennsylvania and Loyola Law School in Los Angeles, Danny Sonenshine quickly found himself working as a litigator and transactional attorney at major firms in Orange County. It didn't take long for the Laguna Beach native to realize a few things about himself--realities that led him to leave the practice of law after six years for the very different field of franchising and restaurants.
  • Debbie Selinsky
  • 14,299 Reads 2 Shares
Years ago, the Mayor of New York City became famous for asking the city's residents, "How'm I doing?" Your franchisees' comments and their feedback are some of the best measurements of how your system is doing. There are several third-party businesses that are skilled in interviewing your franchisees to determine their satisfaction level; and I do believe this exercise is helpful. In addition to this service, commit to a steady diet of keeping your ear to the ground, so to speak, by staying tuned in to what your franchisees are saying to candidates during validation. There are times when candidates will not share what they hear, but often they will.
  • Linda Burzynski
  • 3,785 Reads 13 Shares
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"The world of franchise development has changed during the last year and will never be the same again," says Art Coley, vice president of global development for AlphaGraphics. "You can't just put up an ad, throw money at the portals, and sit back and wait for the leads to come in anymore." That's exactly why he has spent most of the last three years at AlphaGraphics assembling, training, inspiring, and leading his new sales development team toward system growth.
  • Kerry Pipes
  • 8,574 Reads
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced that registration is now open for the 2010 Multi-Unit Franchising Conference, where keynote speaker and former Super Bowl winning coach Mike Ditka will share his "Playbook for Success." The conference will be held March 24-26 at the Mandalay Bay in Las Vegas.
  • PRESS RELEASE
  • 3,797 Reads 7 Shares
Mergers and acquisitions (M&A) have been an instrumental component in franchising over the past two decades, particularly as a growth vehicle for expanding companies. Historically, most transactions in franchising have concentrated more on the "A" than on the "M." Some of the primary drivers for this have been cultural and business trends deeply entrenched within franchising. However, the current global financial crisis and franchising's own changing dynamics may alter this.
  • Dean Zuccarello
  • 5,923 Reads 1,014 Shares
What a difference a year makes! This year's Franchise Update Leadership & Development Conference was a welcome breath of fresh air. After all, it was just one September before that the financial and economic walls came tumbling down amid financial institution shakeouts, government bailouts, and an unending barrage of negative economic news chronicling this country's worst recession in decades. If you had been listening in or observing at this year's conference you wouldn't have known any of those catastrophic events had even happened. Optimism was in the air.
  • Kerry Pipes
  • 5,605 Reads
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced that registration is now open for the 2010 Multi-Unit Franchising Conference, where keynote speaker and former Super Bowl winning coach Mike Ditka will share his "Playbook for Success." The conference will be held March 24-26 at the Mandalay Bay in Las Vegas.
  • PRESS RELEASE
  • 3,216 Reads 1 Shares
It sounds cliched, but leadership really does begin at the top. It's the attitudes and behavior of the CEOs, VPs, and other executives who set the tone for how well the franchise brand operates and grows. What's modeled at the top trickles down to all other areas of the brand. Optimism, integrity, teamwork, and recognition are all characteristics of strong leadership. Amazingly, leadership and a culture of healthy productivity are not that difficult to create. As you review franchise brands - talking to both franchise executives and franchisees - keep an eye out for the following signs.
  • Kerry Pipes
  • 19,622 Reads 2 Shares
When people chat with Dustin Winkle about the economy's effect on their business, he doesn't say much. He doesn't want to make anybody feel bad. Because the truth is that the economic downturn has been very good for his 11 dry cleaners in the Boise, Idaho, area. "Dry cleaning is pretty recession-proof, so we're doing fine money-wise," Winkle says. "When I bought the company two years ago, the economy was already starting to slide down. Things have been a little slower, but not a lot."
  • Debbie Selinsky
  • 6,636 Reads 132 Shares
Ready for 2010? Who isn't? The recession, lack of available funding, and shaky consumer confidence hit hard around the globe this year--and franchising was no exception. You don't need me to point out that is has been a tough year, but enough of that.
  • Linda Burzynski
  • 3,344 Reads
Whenever I speak at a franchise convention, I inevitably meet many struggling franchisees leasing commercial or retail space. These tenants desperately need a rent reduction ... right now. The recession is taking its toll on all industries including franchising; sales are down, business expenses are rising, and the high cost of leasing space is closing in on tenants. Your monthly rental payment to the landlord can be one of your biggest monthly expenses. Therefore, reducing this monthly lease payment is imperative for businesses like yours to stay viable.
  • Dale Willerton
  • 9,407 Reads 747 Shares
Last issue we began the discussion of how buying assets out of bankruptcy court is time-consuming but usually easy - when done properly. But if you try to pick and choose, it can become more difficult. It's hard to determine a fair value for such assets. If you're not careful you could find yourself back in court fighting angry creditors who think you've cheated them.
  • Barry Kurtz and Nevin Sanli
  • 5,351 Reads 169 Shares
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Gaining access to and securing capital is more important for franchisees today than ever. Every week we talk with multi-unit franchisees about how they are growing and the kind of financing it takes for them to achieve their goals and objectives. It's an important topic and sometimes we get some very candid responses.
  • Multi-Unit Franchisee
  • 6,301 Reads
Let's face it, if you are looking into franchising, there's a pretty good chance that one of the reasons is that you are in search of a "culture" or leadership style that is a better fit than your career has been providing you thus far. Maybe you're coming from a background of working for a heavy-handed boss or a system that rejected forward thinking. You're beginning to see that strong leadership and a good cultural fit are important for your personal and professional success. Many franchise brands can offer this. When you begin searching for a franchise that might be a good fit for you, you will definitely want a sense of the system's culture and its leadership style. For example, when you begin dealing with the sales person, take careful note of their attitude, tone, and overall personality dynamic. Do they seem to really believe in the brand? Do they seem truly interested in telling you about the brand and determining if you would be a good fit? Chances are these "gatekeepers" are a reflection of the entire system.
  • Kerry Pipes
  • 17,655 Reads 3 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced that it is now offering executive recruitment services. The company's first client is a major franchisor looking for a new president, in an exclusive, confidential search.
  • PRESS RELEASE
  • 3,629 Reads 7 Shares
Cell phones have become big business and the competition in the market can be fierce. Not surprisingly, social media tools are finding a niche in this industry, too. One example is three young entrepreneurs in the Northeast who have found a way to use Facebook and other social media tools to give them a competitive edge.
  • Multi-Unit Franchisee
  • 7,314 Reads 105 Shares
There's a year-end ritual I've always hated. No, it's not those standard resolutions to eat better, exercise more, and clean the piles off my desk. Worse. It's being asked to forecast where "X" will be in a year, "X" being the level of the Dow, the price of gold, the yield on short-term Treasuries, etc.
  • Carol Clark
  • 4,236 Reads 25 Shares
Anand Gala never planned on getting into the family business of operating franchised fast food restaurants. What he had planned on was medical school. But as he was working his way through his med school interviews, it dawned on him that he just wasn't all that interested in medicine. He's never looked back.
  • John Carroll
  • 11,281 Reads
The Human Genome project, a rapidly developing area of genetics, is the subject of much conversation today. In classical genetics, the genome of an organism is a complete genetic sequence on one set of chromosomes. The ability to understand these building blocks of life will lead to medical breakthroughs that will transform our lives in the future. Metaphorically speaking, a "Franchise Genome" could be viewed as a manifestation of how a franchisor's DNA can be sequenced, understood, and passed along to franchisees.
  • Marvin Storm
  • 4,404 Reads 1,023 Shares
Each year at Franchise Update we survey franchisees across the U.S., toting up their brands, units, and locations, and ranking them by size for our annual "Mega 99" list. And, since not all franchises are created equal in terms of initial investment and ongoing support, we also compiled a second list, ranking the largest franchisees by industry. Numbers are important, of course, but they don't tell the story of the struggles, false starts, and failed endeavors each successful multi-unit operator has overcome in building their organization. Many have spent decades building their companies, brand after brand, unit after unit.
  • Multi-Unit Franchisee
  • 9,520 Reads 11 Shares
First Watch Restaurants Inc., a daytime-only restaurant group based in Bradenton, Fla., has begun franchising. Founded in 1983, the chain has about 80 restaurants open with expectations for 110 by 2012. The restaurants are open 7 a.m. to 2:30 p.m., and store sales average about $1.2 million. Same-store sales were expected to be up 3 to 5 percent in 2009 and total sales up about $2 million to $85 million (the company reports 25 consecutive years of same-store growth). First Watch is looking for franchisees to develop areas near its existing markets, including Kansas City, St. Louis, Cincinnati-Dayton, and Orlando-Tampa.
  • Franchise Update
  • 3,680 Reads 13 Shares
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