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"If there's one thing the recent economy has taught, it's that it's more important than ever to pay attention to costs during tough times," says Neal Faulkner, a Boston-area Dunkin' Donuts franchisee with 17 locations open and two more on the way. "I say if you're still operating today the same way you were three years ago, you're either out of business or on your way there."
  • Multi-Unit Franchisee
  • 9,839 Reads
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.
  • Franchise Update
  • 7,366 Reads 2 Shares
Despite the surging growth in franchisors using multi-unit development strategies over the past 20 years -- especially the past decade -- this approach is not always a sure bet for successful franchise growth, and certainly not for every franchisor. For example, the multi-unit model may make a great development tool for an established retail-oriented brand seeking heavy market penetration in a given territory, but it may not be right for a newer service-based brand testing a smaller market.
  • Kerry Pipes
  • 3,717 Reads 15 Shares
Today, savvy franchisors with good validation are jumping their referral sales 25 percent and more by developing aggressive, well-planned referral programs. Yet many franchise systems don't capitalize on the full recruitment potential within their networks. They appreciate the leads they receive, but don't actively promote what is the most valuable lead source in franchising. Referred prospects are as precious as gold, just waiting to be discovered in your own backyard!
  • Franchise Update
  • 3,526 Reads 1,014 Shares
Nontraditional locations, typically seen as a vehicle for spreading a franchise brand into new places to reach a captive audience, also can serve as an additional lead generation tool, part of your overall development strategy. Let's consider a few instructional examples.
  • Eddy Goldberg
  • 3,985 Reads 25 Shares
Anti-bribery legislation known as the Bribery Act 2010 was passed by the House of Commons on April 8, 2010. It was passed into law the same day upon receiving Royal Assent. In addition to laying out penalties, the Bribery Act defines bribery, being bribed, and the offense of bribing a foreign public official. In section 7 it introduces a strict liability corporate offense of commercial organizations failing to prevent bribery.
  • By: Paul Finlan & Oren Gross
  • 1,917 Reads 4 Shares
Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced the launch of Franchise Law News, providing franchisors with a consistent source of quality legal information about the franchise industry. The print edition and eNewsletter are distributed quarterly, and online access is available anytime at www.FranchiseLawNews.com.
  • PRESS RELEASE
  • 4,152 Reads 16 Shares
Mike Pietrzyk's 37 years in the food business began auspiciously in 1972, when, as a newly promoted manager of a Burger Chef in Virginia, he was put in a store scheduled to close in 7 months. "The restaurant wasn't doing well, and they'd decided to close it," he recalls. "They just asked me to keep it together for a few more months." Pietrzyk worked seven days a week and did his own marketing, passing out local coupons and getting acquainted with the community.
  • Debbie Selinsky
  • 5,981 Reads 81 Shares
A couple of weeks before any speaking engagement, I distribute a 10-question survey to the meeting participants so I am well prepared to cover their most pressing concerns. One of the questions I ask is: "What is your best source for new employees?" Some of the possible answers are: "billboards, internal promotion, the Internet, job fairs, newspapers, referrals, schools, signage, and walk-ins."
  • Mel Kleiman
  • 6,142 Reads 261 Shares
If the standing-room-only educational sessions weren't enough to inspire the multi-unit franchisees, the spirited address from NFL Hall of Famer Mike Ditka certainly was. It was all part of the 2010 Multi-Unit Franchising Conference held this past March in Las Vegas at the Mandalay Bay.
  • Kerry Pipes
  • 2,933 Reads 6 Shares
You've done your research. You've narrowed the list or perhaps even selected the franchise brand that you'd like to team up with. You're comfortable with the brand's market presence and name recognition; you believe it matches your skill level, that it's well-suited for your lifestyle, and that it complements your personal business goals. Now it's time to map out your entrance strategy.
  • Kerry Pipes
  • 11,945 Reads 1 Shares
Jersey Mike's Subs
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Brian Klaubert spent 19 years as an engineer before entering the franchising world. Not surprisingly, he had very little financial background for running a business. That's where his franchisor, Christian Brothers Automotive, stepped in.
  • Multi-Unit Franchisee
  • 3,134 Reads 29 Shares
One of the most effective strategies to conducting site selection is not by looking for the proverbial needle in a haystack, but instead, by using the process of elimination.
  • Dale Willerton
  • 4,531 Reads 116 Shares
Some years after David Griffin set out in the late '70s to build an auto detailing business, he found himself with a large, scattered operation that had many of the same attributes as a franchise. He ended up opening five separate locations in Utah, including one big central complex, along with an independent chemical business and distribution center that provided the materials he needed to clean vehicles for local residents, car dealers, and a large wholesale auto auction operation
  • John Carroll
  • 3,629 Reads 24 Shares
The 9th Annual Multi-Unit Franchising Conference, sponsored by Multi-Unit Franchisee Magazine achieved its greatest success ever. Despite a down economy, conference attendance was up 30 percent over last year, featured more than 100 sponsors, and a sold-out exhibit hall. The conference was held at the Mandalay Bay in Las Vegas, March 24-26, where Mike Ditka, former Super Bowl-winning coach, was the keynote speaker.
  • PRESS RELEASE
  • 2,630 Reads 1 Shares
When Cheryl Robinson took over the bookkeeping responsibilities at a Supercuts location in 1980, she had little idea that she would one day own and operate her own Supercuts. Today, she and husband Joe, oversee an empire of 31 Supercuts throughout southern California. She's learned a lot about the salon business and franchising over the past three decades. One thing she fully understands is that hard work and customer service at a business are more important than ever during tough economic times.
  • Multi-Unit Franchisee
  • 7,122 Reads
One of the emerging benefits of the social media phenomenon is the technology's ability to put franchisees right in the middle of fresh customer feedback
  • Multi-Unit Franchisee
  • 3,000 Reads 20 Shares
In the late 1970s, David Griffin set out to build an auto detailing business. Some years later, he found himself at the helm of a large, scattered operation. He'd opened five separate locations in Utah, including a large central complex, along with an independent chemical business and distribution center that provided the materials he needed to clean vehicles for local retail consumers, car dealers, and the large, national Manheim auto auction company.
  • John Carroll
  • 8,099 Reads
The beauty of the franchise business model is that it allows individuals to start their own businesses without the sweat equity and headaches associated with starting a business from scratch. No reinventing the wheel here. Hundreds and hundreds of franchise systems have already perfected the products, services, and delivery mechanisms into a proven and successful formula. That's a distinct advantage. But as a first-time franchise prospect how can you ensure that you choose the right system? Are some systems more suited for you than others? What will be your strategy for choosing the right franchise opportunity? These are all important questions that we'll try to answer in this section.
  • Kerry Pipes
  • 18,539 Reads 1 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. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities.
  • Franchise Update
  • 6,184 Reads 2 Shares
Business buyers evaluating a prospective purchase want answers to key opportunity factors. If you don't provide these answers, their relatives, CPA, attorney, or armchair advisors will! During my career I've had the enviable position of gaining insight into these major decision-making criteria, which could make or break the attractiveness of a franchisor's concept with discerning buyers. I've listened to, learned from, and consulted with hundreds of print and Internet advertisers seeking ways to accelerate their response rates. This included providing in-house creative services to increase lead generation performance. What we discovered were the critical factors that attract prospective franchisees--whether you're a $50,000 cleaning franchise or a $1 million restaurant concept.
  • Steve Olson
  • 3,426 Reads
Dogtopia
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I keep hearing Baby Boomers moan, complain, and quite frankly, just whine about Gen Y. I am sick of it. If you are whining, then you are not a leader. If you are a leader, you will look at this situation and say, "Okay, we have 70 million super-sharp young men and women coming into the workforce, and we are going to get them ready for early leadership positions..." instead of sitting around saying, "They are so entitled, they are so into their own thing, they are always on Facebook, blah, blah." If you are saying this, then maybe you are the one who is entitled. As I always say, "If you spot it, you got it!"
  • Bea Fields (adapted with permission from her blog)
  • 3,810 Reads
Are you spending too much time educating franchise prospects about the basics of franchising? You're not alone. Many franchisors are frustrated by candidates who meet their financial requirements and have relevant industry experience, but then don't seem to know the first thing about franchising.
  • Eddy Goldberg
  • 3,869 Reads 4 Shares
When the pizza giant asked consumers to tell the truth, it ended up back at the proverbial drawing board. (Or should that be cutting board?) There's a lesson in this story for all of us--and here are some insights on the art of really listening to customers.
  • Dan Adams
  • 2,595 Reads
In the previous issue, I outlined a seven-step process guaranteed to improve performance. We call this process Profit Mastery. My goal going forward is to give you more detail on each of the steps, a specific action plan for how to apply each to your own business, and how to incorporate the results into your strategic thinking
  • Steve LeFever
  • 29,078 Reads 9 Shares
Everyone knows what the McDonald's logo looks like and what the "Golden Arches" represent. No matter where you go in the world, if you set foot inside a McDonald's you can order a Big Mac or Quarter Pounder and know exactly what it's going to taste like. Established brand awareness, reliability, and uniformity are part of the power of franchising.
  • Franchising.com
  • 10,011 Reads 11 Shares
Most families have their favorite holiday traditions, with special rituals, decorations, clothes, songs, and foods that make the holidays unique, memorable, and fun.
  • Jack Mackey
  • 4,060 Reads 29 Shares
You've cut back on as many napkins and ketchup packets as you can, reduced your maintenance costs, renegotiated with suppliers, and maximized employee efficiency (see page 68)--and margins are still razor-thin. Interested in a way to add some zeroes (000's) to those savings, without spending a dime up front? It's time to take a new look at wage-based tax credits.
  • Eddy Goldberg
  • 5,172 Reads 1,021 Shares
There's a good reason the United States is called the Land of Opportunity. The spirit of independence is one of the cornerstones in the nation's founding. That spirit persists today in the world of business, where independent-minded entrepreneurs take the risks and reap the rewards of running their own business.
  • Franchising.com
  • 9,279 Reads
In the mid-1990s, when the stock market was on fire and Darrell Lamb spent most of his days on the phone in an unending quest for new investors, he had a chance to invest in an Express Oil Change franchise. Lamb had some great advisers to rely on. His uncle was president of the company and his dad, an Alabama optometrist with a keen interest in growing ventures, was an investor.
  • John Carroll
  • 8,682 Reads 1 Shares
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