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As we all hope for the best in 2010 and realize we have weathered the biggest part of the economic storm, we need to look at the franchise development world differently--in this case, under partly cloudy skies.
  • Marc Kiekenapp
  • 4,653 Reads 5 Shares
Before signing on as a multi-unit franchisee, Rob Parsons already had an insider's view of franchising, having spent time at Denny's and Popeyes working with franchisees on the real estate side. At Popeyes, Parsons worked with Jim Lyons, an industry veteran who is now chief development officer for Del Taco and Captain D's. Lyons played a key role in mentoring the young Parsons. During a five-year stretch at Popeyes, Parsons played a key role in pushing the brand's New York market from 58 to 101 locations.
  • John Carroll
  • 4,088 Reads 3 Shares
Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced that 300 CEOs, presidents and franchisor executives representing more than 200 brands are expected to attend the 12th annual Franchise Leadership and Development Conference, which will be held at the Ritz Carlton Buckhead in Atlanta, Sept. 22-24, 2010.
  • PRESS RELEASE
  • 5,755 Reads
1. Should I make a financial performance representation (FPR)? Yes! Any type of representation, oral, written, or visual, that suggests or implies a specific level or range of actual or potential sales, income, gross or net profits qualifies as an FPR. You can't make an FPR unless it is in your franchise disclosure document (FDD). Between 20 and 30 percent of all franchisors make an FPR, which means some of your competitors share their numbers with your prospects. What impression do you leave if you don't share yours? If you have solid numbers, consider making an historical-based FPR. If you do, the law allows you to make specific written representations outside the FDD about a particular location or highlighting specific variables (e.g., a kiosk variation to a traditional retail format). Without an FPR, you may not make financial representations on your website (the first place prospects check in investigating a concept) or anywhere else.
  • Rochelle Spandorf
  • 7,114 Reads 195 Shares
With all the emphasis on providing customers with "value," I asked about 100 attendees at the IFA Convention in February to describe what value meant. The top five answers on the board:
  • Jack Mackey
  • 4,984 Reads 1,014 Shares
There are many different ways to approach the day-to-day operations of a franchise unit. Some people prefer to have operational partners and divvy up responsibilities. This might make sense when you have two or three people who each possess different skill sets. Perhaps one is better with organization and accounting, another more adept at marketing and customer relations, and so forth. It can be a good management tool but it's not for everyone. Remember it means profits are divided among the partners. Besides, some entrepreneurs like to have their hands on all aspects of operations and maintain a more centralized control.
  • Kerry Pipes
  • 13,250 Reads 1 Shares
"Explain your development strategy as it relates to recruiting single-unit versus multi-unit franchisees. Do you look for both? Why or why not?" During the past five years, most franchisors have changed their concept of the ideal franchise candidate. Today larger franchisors are focused more exclusively on recruiting multi-unit/multi-brand players, rather than the single-unit operators most systems were built on. As an established, nearly 40-year-old brand, Popeyes Louisiana Kitchen markets franchising opportunities toward the top-tier multi-unit/multi-brand category franchisees, while simultaneously considering single-unit candidates. We currently have more than 1,900 locations in 44 states, the District of Columbia, Puerto Rico, Guam, and 27 foreign countries.
  • Franchise Update
  • 6,549 Reads
By now everyone knows what social media marketing is. In fact, many of us are sick to death of hearing about how great Twitter, Facebook, and iPhones are. What smart franchise brand managers want to know is how to make social media and mobile marketing convert to business, driving bodies through doors and positively adding to the bottom line--and if that's even possible.
  • Lisa Wehr
  • 3,258 Reads 1 Shares
Businesses spend an average of $28.87 per hour for each employee, according to recent figures from the U.S. Department of Labor's Bureau of Labor Statistics. This figure includes salary plus benefits such as health insurance, vacation time, and workers' compensation. Overall, 69.7 percent ($20.13) goes toward salary and 30.3 percent ($8.74) to benefits, with 1.6 percent ($0.47) of that benefit percentage going to workers' comp.
  • Kerry Pipes
  • 7,238 Reads 253 Shares
About two years ago, at the behest of a friend, Nick Vojnovic, president of Beef 'O' Brady's, made his first foray into a nontraditional franchise location, opening a restaurant at the TradeWinds, a resort in St. Petersburg, Fla., with 1 million annual visitors. It wasn't exactly on his radar, but Vojnovic decided to give it a go.
  • Eddy Goldberg
  • 4,366 Reads 1 Shares
Going into business for yourself can be a risky and yet ultimately rewarding experience. As with any new business, a franchise unit is going to require upfront capital. And in most cases it takes a significant amount of financing to get started. For those individuals who choose to join the franchising world, there are two distinct ways to finance entry into the business - on your own or with partners. In this section we will take a look at the strategy of getting into franchising on your own and without a financial partner. First, let's consider the cold, hard facts of the financial side of franchising.
  • Kerry Pipes
  • 15,526 Reads 1 Shares
Jersey Mike's Subs
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Jim Sullivan is the CEO and founder of Sullivision.com, a company that designs and delivers operations and leadership training programs for companies and franchisees worldwide. Clients include The Walt Disney Company, McDonald's, Panera Bread, Regis Corp., Jiffy Lube, Wal-Mart, American Express, Applebee's, Domino's, Dunkin' Brands, and Coca-Cola. Three years ago Sullivan's company began researching the best practices of high-performing multi-unit leaders.
  • Kerry Pipes
  • 13,957 Reads 2 Shares
Rob Parsons knew all about franchising. He had worked on the inside at Popeyes and Denny's assisting franchisees with real estate. He had learned the ropes.
  • John Carroll
  • 5,489 Reads 194 Shares
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)
  • 3,595 Reads 116 Shares
So often, franchise tenants come to me stating that they are not profiting because their rent is too high. While this can be true, frequently the tenant has simply leased too many square feet.
  • Dale Willerton
  • 4,269 Reads 1,015 Shares
Dave Melton oversees a half dozen Domino's Pizza locations in the Big Apple. The New York City market is one of the toughest in the country and yet Melton has flourished since beginning his life as a franchisee 20 years ago. But he hasn't just built a successful business in Manhattan, last year he made the New York DMA the most successful market in the Domino's organization. Now that's power.
  • Multi-Unit Franchisee
  • 6,112 Reads
"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
  • 9,885 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
  • 7,405 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
  • 3,743 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
  • 3,549 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
  • 4,011 Reads 25 Shares
Tropical Smoothie Cafe
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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
  • 1,947 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
  • 4,180 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
  • 6,026 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
  • 6,178 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
  • 2,955 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
  • 12,017 Reads 1 Shares
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
  • 3,162 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
  • 4,558 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
  • 3,658 Reads 24 Shares
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