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Not surprisingly, winning in professional sports has a lot in common with winning in the franchise business. If there's to be any chance of victory, individuals must work together, follow a strategic plan, and remain devoted to a collective cause. Seen in this light, it makes perfect sense that a number of former professional athletes--most of whom have competed in sports since they were tots--turn to franchising when their time on the field runs out. They understand hard work and dedication, and they know how to follow a system where each individual has a role that benefits the greater good of the team.
  • Kerry Pipes
  • 12,320 Reads 1 Shares
The franchising community thinks of the FTC as the "top dog" in regulation. The FTC's Franchise Rule sets the standard for disclosure to prospective franchisees and is the basis of state regulation as well. While small by federal standards, the FTC has powerful tools at its disposal.
  • David W. Koch
  • 2,198 Reads 10 Shares
Even though a purchasing cooperative can produce significant savings for many product-based franchise systems, many franchisors remain skeptical of purchasing cooperatives because of their historical association with strife between a franchisor and its franchisees. But, as is apparent from the recent trend of franchisors participating in and supporting the formation of purchasing cooperatives, a franchisor's input can positively influence a purchasing cooperative and result in greater supply chain efficiency, savings, and quality improvement.
  • Suzie Loonam Trigg
  • 8,257 Reads 3 Shares
In the previous issue of Franchise Law News, Terrence Dunn and Michael Einbinder authored an article on how to strengthen your franchise agreement. This article expands on that theme, focusing on the role of the franchise agreement in the franchise system.
  • Brian Schnell
  • 8,954 Reads 10 Shares
Controlling the franchisee's right to transfer a franchise is a common goal of franchisors. Franchisors often want as much control over the transfer process as is possible. To maintain control, franchisors should ensure that the franchise agreement explicitly reserves to them the right to approve or disapprove transfers in their unlimited and sole discretion.
  • Terrence Dunn and Julianne Lusthaus
  • 4,492 Reads 1,014 Shares
Like it or not, litigation comes to virtually all franchise systems. Take a moment to see how savvy you are on franchise litigation issues based on real-world cases
  • Jonathan Solish
  • 7,568 Reads 317 Shares
There are tweets and pokes, posts and check-ins, mayors, fans, friends, and likes. It seems as though every social media network has its own language and users--yet all of them are grouped together as the "shining light" of marketing for the year to come. Well, here's the truth. While social media is now a cornerstone for branding, sales growth, and PR, for multi-unit franchisees to successfully use social media to drive business into stores, you need to get the facts.
  • Lisa Wehr
  • 8,031 Reads 33 Shares
Gina Puente learned about hard work, tenacity, and the power of cash at the knees of her father, "working" in his office equipment business from the age of eight... when she wasn't busy with commercials and pageants.
  • Debbie Selinsky
  • 5,748 Reads 1 Shares
Spread across the following pages of our annual Dominators issue are the rough-hewn tales of seven multi-unit franchisees who have worked smart and played hardball to create large, successful franchise organizations. These operators are not afraid to take risks if the payoff means a bigger slice of the market pie. We interviewed these seven savvy operators and asked them to share their strategies, philosophies, and personal approaches to running their organizations.
  • Kerry Pipes and Eddy Goldberg
  • 7,538 Reads 1 Shares
Often when I speak at franchise shows and conventions a tenant will ask me, "What is the best lease length?" The term, or length, of your commercial lease is an important part of your franchise business plan and ensuing lease negotiations. However, most franchise tenants do not take enough time to consider that one day they will eventually want to sell the franchise. Alternatively, they may want to expand/downsize, relocate, or close and so do not give the term of the lease the attention and consideration it truly deserves.
  • Dale Willerton
  • 12,106 Reads 717 Shares
In the previous issue of the Franchise Update Sales Report, we defined concepts such as culture and mood, and discussed the importance of a strong corporate culture and its relationship to franchise development. In this issue, we'll show you how to create a great culture - and how that will help you sell franchises.
  • Evan Hackel
  • 3,206 Reads 32 Shares
Angry Crab Shack
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Top-performing employees exhibit a number of key characteristics critical to Dave Melton's franchise operations strategy. For example, as he has previously explained, they are not only happy and productive, but they also make fabulous team recruiters. But it doesn't stop there. He believes his top team members should even be involved in the interviewing process for new hires.
  • Kerry Pipes
  • 3,101 Reads 1,023 Shares
All franchisors are considering how to maintain or increase market share in the new normal. Nobody can deny that the Great Recession has created more and better real estate opportunities for those who can afford to exploit them, as well as a surplus of qualified operators, composed increasingly of women and minorities, without assets to operate. The number of opportunities appears to grossly overshadow any one franchisor's resources in terms of cash, personnel, and credit.
  • Lane Fisher and F. Joseph Dunn
  • 7,213 Reads 134 Shares
Greg Hamer, Sr., worked in the oilfield service industry for two decades before dipping his toe into franchising. He knows about hard work and about managing assets. Today, he is the largest Taco Bell franchisee in the state of Louisiana. Hamer has operated B&G Food Enterprises out of Morgan City, La., since opening that first Taco Bell unit in 1982. In the 1990's, the company added KFC and Pizza Hut units to the portfolio and most recently, Teriyaki Experience.
  • Multi-Unit Franchisee
  • 4,678 Reads 21 Shares
Innovative franchisors seeking to expand their offerings and attract a new pool of franchisees are breaking with tradition and instituting new ideas. Here are a few ideas that have proven effective for the systems that have used them to achieve specific goals as they developed
  • Steve Olson
  • 3,644 Reads 9 Shares
Growth, it's everyone's goal: the premise for my first article regarding growing from one unit to two. Now that you are a multi-unit franchisee, you must either commit to staying where you are or make a substantial commitment to further grow your business.
  • Michael Pearce
  • 10,238 Reads 1 Shares
I am a big fan of sales processes. However, I am a bigger fan of buying processes. And when a company's sales process is inconsistent with their customer's buying process, breakdowns occur. Many of the tactics and techniques franchisors counted on in the past appear to be producing diminishing returns in the present.
  • Joe Matthews
  • 4,915 Reads 1,023 Shares
First impressions are lasting. Front-line hourly employees are not. Before they've been on the job just six months, more than 50 percent are gone. Some were probably not a good fit for the job in the first place, but some productive, dependable, hard-to-replace employees bolt, too.
  • Mel Kleiman
  • 6,451 Reads 17 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced the industry's first major consumer conference, to be held June 14-15, 2011 at The Omni Hotel in San Francisco. In addition, FUMG will also release the first annual Franchise Buyer's Guide to Consumer Marketing and Franchise Consumer Marketing Newsletter.
  • PRESS RELEASE
  • 2,781 Reads 4 Shares
As noted in the last issue, investing is not for the faint of heart. It takes time and an ability to integrate an expansive range of information--as well as a steady head and a strong stomach. This combination often means that seeking outside help makes the most sense. But how do you go about finding an investment manager that's the right "fit" for you?
  • Carol Clark
  • 9,666 Reads 169 Shares
Shortly after the economic downturn descended upon us in 2008, we started seeing a few franchise brands begin to offer incentives to get units open. At the time, they were generally viewed as outliers. After all, the economy was at single-digit unemployment levels, and most business people were in denial of a long or deep recession.
  • Darrell Johnson
  • 4,888 Reads 139 Shares
Jeff's Bagel Run
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For many businesses, growth often means a physical expansion of an existing store or the opening of additional stores. Is it worth the cost? There are two parts to the answer: finance and marketing. The financial analysis answers the question, "What do we need?" The marketing analysis answers the question, "What will we get?" To get our arms around the analysis requires an extension of my "break-even" discussion in the previous issue.
  • Steve LeFever
  • 29,424 Reads 2 Shares
Have you ever been gripped by buyer hesitation, fears, or remorse? Certainly for franchise candidates, the American Dream of owning a franchise is a huge commitment, especially in today's uncertain economy. We all witness this when Discovery Day transforms to "D-Day" for some very qualified candidates, who freeze realizing the ticking timer to sign contracts is just around the corner. Their check and signature will rearrange the lives of their spouse, kids, pets--not to mention their daily routines and social activities.
  • Steve Olson
  • 3,441 Reads 3 Shares
Franchising has flourished over the past two decades, adding tens of thousands of units and rising on a compound basis faster than most of the industries it operates in. Much of this growth was achieved by franchisee operators who began when they were in their thirties and forties. Today many of them are in their fifties and sixties and looking toward retirement.
  • Darrell Johnson
  • 4,324 Reads 4 Shares
Two people have figured prominently in Jerry Heath's career. The first is his father, who helped bankroll him when he started out in franchising. The second is Steve Jackson, the president of Hungry Howie's Pizza, who began mentoring Heath at an impressionable age (12).
  • John Carroll
  • 8,690 Reads 2 Shares
Two years of tight credit and reduced consumer spending not only have left many franchisees reeling, they've also put a serious crimp in their franchisors' royalty streams. We asked workout professionals and bankruptcy attorneys experienced in franchising what franchisors can do to help turn around their distressed franchisees--without spending precious funds or getting themselves into legal hot water.
  • Eddy Goldberg
  • 20,648 Reads 7 Shares
It can be difficult enough to get a franchise up and running on your own, or with other operational and investing partners, but it can be downright arduous if family members are involved in the deal. But that's the route some franchisees take and when done properly this management model can provide years of personal and professional harmony. But there are some secrets to making it work. Go in unprepared and you could break up a business and a family.
  • Kerry Pipes
  • 15,600 Reads 1 Shares
As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to 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. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities.
  • Eddy Goldberg
  • 10,466 Reads 93 Shares
Aggressive growth companies measure the performance of their sales personnel just as they do their advertising. With high recruitment expenses you can't afford mediocre selling performance, which costs dearly in lost franchise deals. A policyholder survey by Prudential Insurance revealed that the greatest influencing factor in the buying process is the sales person.
  • Steve Olson
  • 3,384 Reads 7 Shares
Two years of tight credit and reduced consumer spending have left many franchisees reeling and put a serious crimp in franchisors' royalty streams. Workout professionals and bankruptcy attorneys experienced in franchising discuss what franchisors can do to help turn around distressed units - without spending scarce funds or getting themselves into legal hot water.
  • Eddy Goldberg
  • 7,166 Reads
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