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When it comes to evaluating a potential area developer, don't marry for money, say franchisors. With money as a given, look for that indefinable "fit" and you're golden for the long haul.
  • Eddy Goldberg
  • 5,225 Reads 187 Shares
Julia Stewart is a very persuasive woman. As president, CEO, COO and director of IHOP Corp., she is, she says, using all her skills as a communicator, persuader, and collaborator, to revitalize one of the oldest and best-known foodservice brands.
  • 7,385 Reads 507 Shares
Finding innovative financing strategies can be worthwhile, especially if they lead to multi-unit franchise ownership. One method you may want to look into involves the use of retirement funds to invest in some of the nation's most attractive franchises.
  • Joan Szabo
  • 2,853 Reads 6 Shares
That's only one of the secrets to Jim Gendreau's success Don't let his 'aw, shucks' attitude fool you: Jim Gendreau is one heck of a salesman. Here's a guy who cheerfully tells you he graduated second in his class of 98 ('second from the bottom!'), talks about his learning disabilities, and wonders at his great good luck.
  • 3,724 Reads 1,014 Shares
Start spreading the news, you may just want to be a part of New York, New York. The Big Apple heads up the list of the top 20 cities in the U.S. for franchising, according to a new study by Franchise Update and FRANdata. This past summer, executives from Franchise Update commissioned researchers at FRANdata, an organization that collects extensive franchise industry information, to tabulate the rankings. FRANdata analysts drew upon more than 250,000 records of franchise locations out of its proprietary database to calculate the results. "We analyzed Direct Market Areas (DMAs) as outlined by Nielsen. We matched zip codes to DMAs and calculated the number of franchises within those DMAs," explained FRANdata data research analyst Brad Morick, who was responsible for the project. The use of the DMAs helped standardize the analysis and interpretation of the rankings. "To my knowledge, no one else has ever done a study like ours," continued Morick. "Since we collect UFOCs from franchises across the country, we know all of their locations and could easily do a cross match. "
  • Kerry Pipes
  • 2,660 Reads 7 Shares
Historically, a business plan is mostly a financial plan and analysis, specifically focusing on: "Why I need your money, what I will do with your money, how and when you will get your money back, and what a great guy I am and what a great business this is; or, why you should give me the money." It is usually a highly stylized presentation with numerous spreadsheets and exhibits.
  • William Ginalski
  • 41,840 Reads 28 Shares
Current data continues to validate that multi-unit and multi-brand franchising is evolving at lightning speed in all industry segments. In fact, FRANdata, a Washington-based information company specializing in franchise research based on UFOCs, recently released the following statistics to Franchise UPDATE, Inc.:
  • 2,101 Reads 2 Shares
If there is such a thing as perfect training to become a franchisor, Great Wraps Chairman Mark Kaplan got it. And he's applying that training to a franchise he and his partners are building from the ground up.
  • 3,259 Reads 94 Shares
Mack Wilbourn has a problem: What to do with the cartoon figures of Popeye, Olive Oyl and the rest that decorate his jet black Hummer. That was great when Popeye's Chicken and Biscuits had the license for the characters, but now that the chain is rebranding, the characters have to go.
  • 16,258 Reads 7 Shares
Franchisors in search of new concepts have discovered a rich market in small businesses that could benefit from the perks that larger companies enjoy, but cannot justify or afford them. Having access to these professional services can have a profound impact on the success of small businesses.
  • Julie Riffle
  • 4,549 Reads 42 Shares
There is a very positive climate in relation to franchising in New Zealand where over 300 systems exist. Franchising has been growing at about 20% per annum during the past 5 years and although there is no mandatory legislation, there is a Code of Practice which is mandatory for members of the Franchise Association of New Zealand.
  • Stewart Germann
  • 4,140 Reads 16 Shares
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When interacting and working with Swedes, it is important to understand the meaning of the word lagom. It does not have an exact equivalent in English but translates approximately to "just right" or "everything in moderation." It implies an ideal place of moderation and balance. You can see its influence in everything from the decision-making process and the need for consensus, to how much food to put on your plate. The lagom "point" varies from individual to individual, but falls somewhere along the middle of a continuum. It can be difficult for non-Swedes to really understand, however a good rule of thumb is to think in terms being moderate, modest, and to tone things down. It is also important to remember that Lagom does not imply lack of ambition or self-confidence. Swedes are very quality conscious and believe in doing their personal best.
  • Christina Johansson Robinowitz
  • 4,313 Reads 22 Shares
Franchise companies do change hands; sometimes often. New ownership is not always sympathetic to the goals of franchisees, and that can cost a system badly. Some franchisees are taking a more aggressive approach to that situation-or the threat of it. They've become owners themselves. And there are good reasons why that strategy might work.
  • Kerry Pipes
  • 2,405 Reads 1 Shares
When interacting with Singaporeans, it is vital to know their network of stakeholders. Imagine a chessboard and the strategy involved in maneuvering through multiple players in shifting positions: Which player has the most power? What influence might another have? How might other players perceive my move? Almost like calculating chess players, Singaporeans continually mentally assess the total formula in their surroundings; this assessment drives communication and other required protocol that facilitate their aims and interactions.
  • Kathleen A. Curran
  • 4,430 Reads 1,023 Shares
Multi-unit, multi-brand, co-branding, area development--you've seen these defined, and they are distinct entities. Most multi-unit franchisees start with a few, and quickly grow one brand, then add another, and often enter into an area franchise agreement.
  • Ripley Hotch
  • 2,681 Reads 11 Shares
The draft Franchise Regulations ("Draft Regulations") anticipated to replace the 1997 Measures concerning administrative of commercial franchising (the "1997 version") were expected to be out by end of this year. However, reliable sources at the China Chain Store Franchise Association reveal that the draft is pending further amendment at the Ministry of Commerce. To-date, no one knows when the new law will be promulgated.
  • Edward Lehman and Janet Yong
  • 5,849 Reads 51 Shares
Franchisors in search of new concepts have discovered a rich market in small businesses that could benefit from the perks that larger companies enjoy, but cannot justify or afford them. Having access to these professional services can have a profound impact on the success of small businesses.
  • Julie Riffle
  • 4,522 Reads 40 Shares
Rich Kissane's son was a good athlete, but "kind of clumsy," says the 25-year franchising veteran. The family was living near Atlanta, and friends told him about Velocity Sports Performance, a small company that offered the same kind of sports training that large professional sports organizations provided their players. Kissane enrolled his son, and "The next year, he was defensive player of the year for his football team."
  • 2,972 Reads 39 Shares
During a weakening economy, franchise growth is notable for its sheer size The overall number of domestic franchise units in the 18 key sectors analyzed for this report has grown 12.6% over the three-year period between 1999 and 2001.
  • 2,701 Reads 28 Shares
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