Q1 | 2009

The Upside of Down

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COVER STORY

Selling in Tough Times: For These Franchisors, This Is The Perfect Time To Grow

It's Tune-Up Time!: Seven Steps For Keeping Sales (And Spirits) Up In 2009

Basic Training: Military Service Prepares Vets For Successful Lives In Franchising

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Count on Him: Army Experience Provides The Skills To Build A Franchise

John Smythe says he was a typical 21-year-old when he was drafted into the U.S. Army in 1965. "I was just kind of rolling through life and not really giving it that much thought," says the 62-year-old veteran today. The Army was a good experience for him, and where he learned the skills and philosophies he's using today as a CMIT Solutions franchisee in Everett, Wash.

Kerry Pipes

Borrow Locally, Grow Nationally: Learning To Think Like A Local Banker

Franchising depends on access to borrowed capital for new units, updating existing units, working capital, and the transfer of units between owners. Where is that capital going to come from?

Darrell Johnson

Crafting a Strategy for the Times: Area Representation Delivers The Resources For Continued Growth

Reading newspapers, listening to the radio, or watching TV today is like drinking from a fire hydrant. Here are some recent headlines:

Marvin Storm

Challenge The Pros: Inside Info From Those In The Know

"How has the capital market for franchise financing changed in the last 3 to 6 months, and what are you doing differently in franchise sales in the next 3 to 6 months?"

Franchise Update Magazine

Market Locally, Grow Globally: Improving Lead Generation In Today's Economy

As with anything valuable, lead supply is sometimes short. Yet lead demand, the lifeblood of the sales force, keeps demanding. The tectonic shifts in our financial, business, and cultural bases naturally have affected franchise lead flow, an effect that shows up differently for each franchisor. Many, however, are experiencing some sort of shortfall in the quality and/or quantity of leads, and today, more than ever, customary lead generation methods are being challenged.

Philip St. Jacques

Watch Your Words: Text Ads Remain An Effective Online Advertising Spend

Despite all the buzz about "rich media," the simple text ad is still one of the most effective ways of bringing prospective franchisees to your website, according to a report from market research firm iPerceptions. The study is especially intriguing, given its substantial number of participants: 14,000 people were surveyed about their ad preferences after they visited leading media websites.

Joe Dysart

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Get It in Writing!: Protect Yourself From Lawsuits By Documenting Your Sales Process

Let's play Jeopardy. The answer: "Document!" The question: "What is the most effective way to minimize risk in the franchise sales process?" To be honest, my answer is a form of shorthand, but it succinctly makes my point.

Rupert M. Barkoff

From the Grab Bag: Survival Tips And Tactics For Tough Times

One of the great things about being an editor at [i]Franchise UPDATE[/i] is the constant stream of press releases we receive. (Okay, I admit, it also can resemble a state of siege). The mailbox always includes some great suggestions on how to improve your business, as well as success stories of franchises continuing to grow, despite the economy. Here are a few items to stimulate your thinking, from top to bottom line.

Eddy Goldberg

City Beautiful?: The New ROI: Return on Inclusion

Many franchisors have reached their limit on expanding into suburbia, but the imperative to grow remains strong. In response, an increasing number are training their sights on America's cities.The move to the suburbs has been a decades-long trend in the United States, and franchisors have followed suit. But more than half of the U.S. population live in the country's top 25 metropolitan areas, and nearly 80 percent live in the top 100 metro areas.Cities are complex, crowded places, running the gamut from blighted ghettos to luxury high-rises. Suburban commuters flood into them by the millions each day to work and shop, creating a vibrant marketplace. And the under-served inner cities are hungry for retail goods and services, jobs, and entrepreneurial opportunity, making them fertile ground for franchisors who take the time to learn, understand, and develop relationships with the people who live there.The Initiative for a Competitive Inner City (ICIC), founded in 1994 by Harvard Business School Professor Michael Porter, studies inner cities with a focus on economic development. According to ICIC, "[T]he inner city retail market offers significant profit potential for retail companies now operating in the highly competitive, over-saturated suburban markets." According to an ICIC study, the country's inner cities contain:

Eddy Goldberg