In a time when many business executives are looking at what to cut because of rising payroll and healthcare costs, Michael Kulp, president and CEO of KBP Foods, a $250 million restaurant company with units in nine states, is taking an "inverse" approach.
Who is responsible for innovation? For many franchise concepts, innovation is the sole domain of the franchisor as it safeguards the brand's equity: "Do only things that I say, and do them exactly as the operations manual specifies."
When we profiled David Griffin in 2010, he had just purchased 25 Jiffy Lube stores in Colorado. The stores were underperforming, some were dilapidated, and the U.S. economy still at one of its all-time lows.
Ted Kergan's path to success as Louisiana's largest Sonic Drive-In franchisee has been marked by hard knocks.
After 34 years of negotiating leases for 150 hair salons in California and the New York Metro area, Gary Grace appreciates the advantages of being part of a franchise system with a well-known name.
Investing wisely does not come naturally to most of us. Many of the skills that support ultimate financial management success run counter to how our natural wiring prompts us to behave.
Grant Simon is a textbook example of a multi-unit franchisee who can't sit still. When we profiled Simon in 2008 (Q3), he was operating 18 Great Clips salons in the Atlanta area.
In earlier articles, I have discussed your two key yardsticks of financial performance: the balance sheet and the income statement. Taken together, they represent as complete a financial picture of your company as it's possible to get.
Do you know there is "free" money out there for your business, and that it is easier than ever to claim it?
When a customer ordered a sandwich at one of Mike Knobelock's restaurants in North Carolina, it came with pickles on it. "They didn't like pickles," says JJ Villafranca, COO at Knobelock's company.
Whether the mergers and acquisitions market is in a hot upswing or in a down cycle, one valuation measure remains the primary focus in nearly all transactions: the multiple of EBITDA (or cash flow).
At the 2013 Multi-Unit Foodservice Operators conference, Chick-fil-A President Dan Cathy explained how the company plans to grow in the future.
When he was a young man fresh off the farm in Dalhart, Texas, Mike Treadwell wanted to stretch his entrepreneurial wings by opening a restaurant. First, he opened an Alfie's Fish 'n Chips in Amarillo, then a Mike's Fried Chicken & Fish.