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Franchisors say they are preparing for the inevitable economic downturn by cutting costs and reviewing spending, but argue they are better suited to survive than other small businesses.
  • SmartCompany.com.au
  • 2,322 Reads 10 Shares
As the credit crisis and the economic downturn begin to bite on Main Street America, restaurant row is in for a shake-up. For the first time in nearly two decades, the $550 billion restaurant industry has suffered stagnant sales this year, creating painful cash-flow problems for restaurateurs who can't get credit lines to cover investment and operating costs even as food and labor costs have risen sharply. That's made it harder for chains and independent eateries alike to upgrade equipment, hire new staff and renovate facilities. "The credit crisis is having a devastating effect on nearly every segment of the industry," says Aaron Allen, CEO of the Quantified Marketing Group, an international restaurant-consulting firm. "This is the death knell for a number of restaurant chains."
  • Time Magazine
  • 3,286 Reads 26 Shares
Franchise companies, facing what many say is the toughest economic environment they've seen, are offering two-for-one deals, reduced fees and financing help to woo new buyers. They are also paying existing franchisees to help spread the word.
  • THE WALL STREET JOURNAL
  • 3,099 Reads 3 Shares
As the economy slows, companies are being forced to make tough decisions such as cutting costs and even staff. These decisions can undermine your brand if you don't take steps to protect it.
  • SmartCompany.com.au
  • 2,304 Reads 1 Shares
While the federal government's Emergency Economic Stabilization Act of 2008--better known as the "bailout"--has drawn a lot of controversy, the National Restaurant Association (NRA) lauds at least one measure included in the law as a "major victory" for the industry.
  • QSR MAGAZINE
  • 2,420 Reads 5 Shares
Franchise Update Media Group, the leading industry resource for franchise development, today announced the availability of a new business book, entitled "Grow to Greatness - How to Build a World-Class Franchise System" that identifies the five success drivers for franchise development, and can save companies thousands of dollars in costly mistakes. The book's author is Steve Olson, publisher for Franchise Update Media Group.
  • Press Release
  • 5,026 Reads 7 Shares
Reciprocity Restaurant Group President Lyndon Johnson good-naturedly lets new acquaintances have a little fun with his name. That's because he's fine with his name. "I can think of a lot worse people to share a name with," he says.
  • Debbie Selinsky
  • 3,871 Reads 74 Shares
In June, FRANdata published an e-newsletter titled, "It's Time To Start Helping Franchisees To Get Loans." Darrell Johnson, the research firm's CEO, wrote: "Franchisors must increase their attention to helping franchisees obtain needed capital. Since lenders make decisions based on perceived estimates of risk, then you must help them assess your brand's franchisor and system risk."
  • Eddy Goldberg
  • 5,143 Reads 27 Shares
While there are many good reasons to implement an automated employee scheduling system (two of the more obvious being to control labor costs and improve customer service), few employers realize that there are two additional important benefits to be realized.
  • Mel Kleiman
  • 5,036 Reads 1 Shares
It is a quiet Saturday morning. If you are the average American, the downturn in the economy has started you to think about how it will impact your career and the opportunities for your children as they enter the workforce. Articles about Enron and Tyco and Global Crossing and other corporate scandals abound and some of the most respected brand names internationally are talking about layoffs and bankruptcy.
  • By: Michael H. Seid, founder and managing director of MSA - Michael H. Seid & Associates
  • 27,508 Reads 12 Shares
You are an executive who is being displaced or who is dissatisfied with the way you are being treated by your company. Recently you have been thinking about putting your resume on the street, but more often than not you have found yourself thinking about going into business for yourself.
  • By: Bob Gappa
  • 495,559 Reads 1 Shares
American Family Care
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When Steve Foltz graduated from Eastern Oregon University in 1985 he thought he might be interested in city or government work. To bide his time and help pay bills while he was interviewing for jobs during the day, he took a night job at Rax Restaurant in Portland.
  • Kerry Pipes
  • 7,956 Reads 2 Shares
Franchise companies, facing what many say is the toughest economic environment they've seen, are offering two-for-one deals, reduced fees and financing help to woo new buyers. They are also paying existing franchisees to help spread the word.
  • The Wall Street Journal
  • 3,116 Reads
In 1993, Grant Simon had his heart and mind set on identifying a franchise he could commit to. He found it while getting a haircut.
  • John Carroll
  • 5,483 Reads 12 Shares
Everywhere you look jobs are being replaced by new technologies and automated systems. We book our own airline tickets online. We fill our own gas tanks and pay at the pump. Touch screens at the neighborhood deli allow us to punch in our sandwich and beverage order. We can pick up a rental car and check into and out of a hotel without ever interacting with any of the providing business concern's employees. And don't even get me started on automated voice call-directing systems.
  • Mel Kleiman
  • 4,292 Reads 23 Shares
As the Amended FTC Rule on Franchising became a reality over the past 12 months, many franchisors have tried to understand the consequences, particularly as they relate to the law on earnings claims, now called Financial Performance Representations ("FPRs").
  • Lane Fisher
  • 6,333 Reads 2 Shares
Before I answer your question I think a bit of historical background is important. Our economy is where it is today because we chose not to learn from what we did in the past. I remember after the bubble broke following the dot-com meltdown we were faced with similar questions. And we moved through those troubled times to what became one of the best environments for the growth of small business and certainly franchising. It is a fact of life in our economic marketplace that business cycles happen. Business cycles in the United States have always produced a beneficial cleansing although living through the corrections is always painful in the short term.
  • Michael Seid
  • 5,453 Reads
In the world of franchising, expansion and growth is the name of the game; creating leads and identifying prospective franchisees is a pivotal part of the corporate operation. This means that franchise executives learn quickly to stay on top of the latest techniques for marketing, generating leads, and recruiting new franchisees.
  • Franchise Update Magazine
  • 9,220 Reads 10 Shares
"As a brand, people know Denny's," says Doug Wong, Denny's director of franchise development at the iconic, 56-year-old American breakfast franchise. "But they don't know who we are today." That goes for customers as well as potential Denny's franchisees.
  • Kerry Pipes
  • 6,420 Reads 25 Shares
This report compares ten systems in the beauty industry: five in the tanning centers sub-sector and five in the hair care sub-sector. FRANdata examines the initial investment, unit financial performance and the ongoing fees of the systems.
  • FranDATA
  • 10,284 Reads 22 Shares
Franchise Update Media Group, the leading industry resource for franchise development, today announced that Area Developer Magazine has a new name: Multi-Unit Franchisee Magazine, effective with the Issue III 2008 edition, which will be published at the end of the month.
  • Press Release
  • 6,822 Reads 1,021 Shares
Sonny’s BBQ
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Amid the arid, bronze landscape of the Arizona desert, things heated up for Area Developer's 2008 Multi-Unit Franchising Conference on April 23–25 at the Hyatt Gainey Ranch Resort & Spa in Scottsdale. The annual three-day meeting of the minds, which once again set new attendance records, was packed with seminars, sessions, and speakers who provided multiple opportunities for personal and professional growth for multiunit franchise operators of all size and scope.
  • Kerry Pipes
  • 4,060 Reads 31 Shares
The FTC's new Franchise Rule "permits a franchisor to provide information about the actual or potential financial performance of its franchise and/or franchisor-owned outlets." Does this mean it is game-on for providing financial performance representations (FPRs, formerly known as earnings claims)?
  • Darrell Johnson
  • 5,421 Reads 1,023 Shares
This report compares ten systems in the beauty industry: five in the tanning centers sub-sector and five in the hair care sub-sector. FRANdata examines the initial investment, unit financial performance and the ongoing fees of the systems.
  • FranDATA
  • 9,297 Reads 22 Shares
It started with a desperate phone call from a distraught daughter at her wit's end. Patricia Maisano was on the receiving end of that call. The woman on the other end of the phone was searching for assistance in caring for her elderly mother. At the time, Maisano was running a health care consulting business in Philadelphia. She was a registered nurse and well-versed in case management. And the phone call had a significant impact on her.
  • Kerry Pipes
  • 2,807 Reads 1,021 Shares
When Pat Williamson was a sophomore at the University of Georgia in 1969, he was home from school one weekend and heard about a summer job opportunity. A Frito-Lay route man stocking the shelves in Williamson's father's retail store had asked if there were any kids looking for a summer job. Williamson's grandfather overheard the request and passed along the info to young Pat.
  • Kerry Pipes
  • 13,761 Reads 4 Shares
One year ago, the debt markets were flush with cash, the merger and acquisition marketplace was lively with new deal announcements, and operating companies were aggressively pursuing new unit development opportunities. Today, we have a very different story, although an historically recurring one.
  • Dean Zuccarello
  • 3,991 Reads 1,023 Shares
With the Amended FTC Rule mandatory as of July 1, Franchise Update asked franchisors in different industries, and of varying size and maturity, for their thoughts on the pros and cons of using Item 19 of their FDD as a sales tool. Short answer: great idea, and a real competitive edge—as long as the brand is doing well and you keep it legal. The devil, as usual, is in the details.
  • Eddy Goldberg
  • 7,887 Reads 1,014 Shares
Originally printed in Area Developer Magazines Issue II 2008, the 2008 Top 100 Power Zees examines the top 100 most successful franchisees by the number of units they operate.
  • Area Developer Magazine
  • 9,519 Reads 1,023 Shares
The franchising continues to grow, not only in size, but complexity—and in recent years, a huge part of that is attributable to multiunit, multi-concept franchising. Today one of every two franchise operators has more than one location. And really, why not? If the cookie-cutter approach works in one location it will most likely work in another, and another. In fact it really boils down to a simple numbers game: the more sales and revenue generated, the more profit potential there is.
  • Kerry Pipes
  • 8,043 Reads 4 Shares
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