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The rules and methods for franchise sales are changing daily with the general public's increasing awareness of the economy, deficits, lending, the housing market, and more. As some of us "graybeards" can remember, this isn't the first time the rules have changed--and it won't be the last.
  • Marc Kiekenapp
  • 3,585 Reads 3 Shares
Just like any business, the franchising business is one that I have seen evolve tremendously over the past 30 years. While many of the cornerstones and crucial elements - product, simplicity, control, and support - remain the same, so much is changing.
  • Larry Feldman
  • 4,005 Reads 1 Shares
As we continue to mine Dave Melton's book, Hire the American Dream, I thought it would be interesting to highlight a case study that demonstrates just how successful smart hiring can be. Here Melton describes his experience hiring an immigrant.
  • Kerry Pipes
  • 4,552 Reads
Whether you purchase or lease commercial space is one question. Whether you can find good commercial space to purchase is another matter unto itself. Although commercial property purchasing options exist across the country, they are less abundant than leasing opportunities. It is my opinion that, the better the location you need for your own business, the less likely you will be able to find a suitable space for purchase.
  • Dale Willerton
  • 47,006 Reads 4 Shares
Growth. It's everyone's goal, from the large publicly-traded franchise company whose value depends on its growth rate to the new single-unit franchisee excited about replicating his success. Growth is a universal desire. It creates a challenge, which in turn, keeps our lives interesting and vibrant.
  • Michael Pearce
  • 6,129 Reads 363 Shares
When Columbus, Ohio, native Jeff Rigsby was a 16-year-old frying chicken for KFC, he couldn't have foreseen that one day he'd own 21 Bojangles' restaurants.
  • Debbie Selinsky
  • 11,292 Reads 1 Shares
Most franchise concepts are built around the personality of the founder. Entrepreneurial lore is filled with stories of founders who open a business, incubate it for years, and after much trial and error, create a successful business.
  • Marvin Storm
  • 3,729 Reads 5 Shares
When 19-year-old Atour Eyvazian fled from his native Iran in the early 1980s to escape persecution for being a Christian, he embarked on an odyssey that led through Turkey all the way to Los Angeles.
  • John Carroll
  • 4,676 Reads 23 Shares
These days, social media is one of the key ways brands nurture relationships with their loyal customer bases. In a lot of ways, a brand's social media presence serves as an overall indicator of the health and strength of a brand. For a brand like Denny's, which has nearly 97 percent brand awareness and a 57-year history, most franchise candidates come to us with some experience with and affinity for the brand.
  • Franchise Update
  • 5,652 Reads 206 Shares
Last time we looked at how unit economics offers a progressive strategy for tracking and managing costs and revenue at franchise locations. It's a tool that has become a necessity to many savvy franchisees, and it's a tool that should be in place from day one.
  • Kerry Pipes
  • 17,691 Reads 2 Shares
Cary Albert is sold on the value in unit economics. The Dallas, Texas-area multi-unit franchisee operates Schlotzsky's and Cinnabon locations and says there's no question his operation benefits from keeping an eye on unit performance numbers.
  • Kerry Pipes
  • 9,387 Reads 1 Shares
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As a franchisee, you may have found it quite easy to secure a lease with a commercial landlord; however, you may face many roadblocks if, or when, you need to terminate your lease.
  • Dale Willerton
  • 39,484 Reads 3 Shares
Pizza franchising is a tough market. The competition is stiff and the recent economic recession really put the squeeze on many franchise operators. But despite pizza price wars and price-sensitive consumers, operators like Glenn Ajmo have discovered a few silver linings that are helping him sustain growth.
  • Kerry Pipes
  • 7,241 Reads 1,023 Shares
Dave Melton has learned more than a few lessons during his 28 years as a multi-unit franchisee. The Domino's Pizza operator has ruled the New York DMA, and in 2009, his units took over the number one slot for sales in any Domino's market. All this while his stores generated annual revenue of $6 million.
  • Kerry Pipes
  • 4,120 Reads 28 Shares
Bashir Shams spent 28 years with one of franchising's giants. He built a successful company and a prosperous career with his multi-unit Burger King operation in Mississippi. So why would he walk away from that to team up with a relative newcomer to franchising? That's just what we asked him about his latest plans to ultimately open two dozen locations of ZIPS Dry Cleaners on the East Coast.
  • Kerry Pipes
  • 4,592 Reads 107 Shares
7-Eleven is going to the chickens--or at least whatever animals are on FarmVille, the popular Facebook game. It's all part of the company's new ad campaign designed to drive Facebookers to visit their convenience store franchisees. And it's working.
  • Lisa Wehr
  • 6,686 Reads 16 Shares
As I write this piece, it is a nostalgic moment for me: 37 years of practicing law, and all with the same firm. In today's environment, inertia in law firm employment is a rare thing. If I knew then what I know today, would I have gone into private practice?
  • Rupert M. Barkoff
  • 4,100 Reads 1 Shares
Restaurant work was just supposed to help Aziz Hashim pay his way as he pursued his life's dream of becoming an electrical engineer. But by the time he landed the "big job" at Rockwell, he discovered that he had been living the dream all along.
  • John Carroll
  • 6,778 Reads 162 Shares
Social media platforms are now emerging as franchise recruitment tools. Granted, it's still early in the adoption process and only time will tell how successful these new channels are in generating leads and franchise sales.
  • Kerry Pipes
  • 13,728 Reads 1 Shares
Those pondering a future in franchising face many important decisions. Beyond nuts-and-bolts basics such as raising capital, identifying a brand that fits, and completing the paperwork, are other – just as important – factors to consider. One such topic is what's known as unit economics. Anyone who has ever cracked open a business school textbook understands that the bottom line of the monthly financial statement of any company should reflect profitability – if the company is to survive. When the numbers are in the black the business is generating more than it's spending. It's simplistic but effective. But there can and should be a more sophisticated approach to operating a franchise in a fiscally responsible way.
  • Kerry Pipes
  • 17,917 Reads 1 Shares
Sales intelligence gives you the competitive edge. Growth companies know that if you're not guarding your front and backside, you'll fall behind in the race. They keep smart and savvy by gathering data, insights, and profiling information from their franchisees, sales people, and competitors. Periodic feedback sets you atop of and in tune with the highly competitive recruitment environment. You can reap the rewards and gain the inside track on building a better, more attractive franchise program for franchisees.
  • Steve Olson
  • 4,051 Reads 7 Shares
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Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced the Multi-Unit Franchisee Conference Advisory Board will meet August 5-6 in Atlanta to plan the 2011 conference agenda. The 2010 event attracted multi-unit operators from food, retail, and service businesses that represented $2 billion in annual revenues.
  • PRESS RELEASE
  • 5,173 Reads 20 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
  • 10,280 Reads 93 Shares
As we work our way out of the current recession, we are already starting to see early signs of life in the merger and acquisition market.
  • Dean Zuccarello
  • 4,491 Reads 69 Shares
Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced that it is seeking an additional Business Development Executive, who will report to Steve Olson, publisher and chief development officer for FUMG.
  • PRESS RELEASE
  • 2,651 Reads 1 Shares
Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced that registration for the 12th Annual 2010 Franchise Leadership and Development Conference is on track to setting new attendance records. More than 200 franchisor executives representing more than 150 brands will meet at the premier industry sales and development event, which will be held September 22 - 24, 2010 at the Ritz Carlton Buckhead, Atlanta.
  • PRESS RELEASE
  • 3,011 Reads 11 Shares
New Jersey native and veteran franchisee Frank Bonanno says he learned early in life that he wanted to do something "easier" than mixing cement and carrying bricks and blocks like his contractor father
  • Debbie Selinsky
  • 11,521 Reads
Multi-unit franchisees have tremendous potential to increase their current revenue and future growth simply by reducing customer service breakdowns and improving service recovery. I call this "found money" because these dollars come from existing customers.
  • Jack Mackey
  • 4,611 Reads 1,023 Shares
It's likely that more than a few people researching franchising are doing so for a completely different reason than those who have been downsized or simply want to own their own business. The backbone of the American economy has always been the hard-working small business men and women who produce great products and services while providing jobs and offering employees a way to support their families. But what happens when a small independent businessperson is approached by – or discovers that - a franchisor is interested in converting their mom and pop business into one of its own franchise units? Well, it's a scenario that seems to be playing out more and more in recent years. Like many other topics we have covered, there is no simple or definitive answer.
  • Kerry Pipes
  • 19,695 Reads 5 Shares
Have you recently stayed at a branded hotel, or eaten at a franchised restaurant where the property was tired-looking and in need of an update? Was the overall experience less than expected because of the worn-out facility? On your next trip did you make a point to book a room or eat a meal at a competing brand, where the facilities and amenities were up to date? Worse yet, was the property yours?
  • John Geenen
  • 5,434 Reads 23 Shares
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