New Brunswick Feature Articles
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Informative articles to support business buyers, franchisees, and franchisors in New Brunswick.
The most fundamental business strategy calls for black numbers on the bottom line. In simplest terms, it's proof the business is generating more cash than it is spending. All too often, though, entrepreneurs get involved in businesses without employing a proper system to help them keep a watchful eye on what they're earning and what they're spending. Managing day-to-day operations can be so time-consuming that it leaves little room for financial analysis. Or perhaps key individuals lack a basic understanding of how to read and interpret financial statements. Combine these factors with the down economy, and you'll likely wind up with a troubled business.
- Kerry Pipes
- 8,112 Reads 518 Shares
Access to capital is the number-one issue facing franchising in 2010. This isn't just an issue for new unit development--it is every bit as much of an issue for transfers. In both situations, franchisors have a large vested interest in ensuring that capital is there when a franchisee needs it.
- Darrell Johnson
- 3,673 Reads 1 Shares
In the few minutes it takes you to read this article, 40 businesses across the nation will fail--and that statistic was [i]before[/i] the economic downturn of the last 24 months. Tragic? Yes. Remarkable? Not at all. The road to business success is littered with the skeletons of companies whose owners--mostly brilliant and skilled individuals--failed to "take care of business" in the financial management of their enterprise.
- Steve LeFever
- 4,436 Reads 1 Shares
The south-of-the-border spirit of great Mexican food and authentic art could soon spread throughout New England and beyond, thanks to a new franchising and area development agreement rolled out by Margaritas Mexican Restaurant.
- Kerry Pipes
- 4,729 Reads 8 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
- 6,684 Reads 93 Shares
The difficult consumer business environment has made the economics of new unit expansion more challenging. This makes "getting to yes" with bankers more difficult because the economics do not have as healthy a margin for error as they did in more robust times. As a consequence, capital access will continue to be the most constraining factor as we look at the next few years. Financing new units is relatively more challenging in general, and in this economy that is particularly true.
- Darrell Johnson
- 3,667 Reads 3 Shares
What is the definition of success? When it comes to franchise development, most of us would say that accomplishing our goals is success--especially after a very tough 2009. For 2010, setting realistic development and growth goals is key. Your sales goals (and associated budget) will be determined by several factors. Some of the important questions we should be asking ourselves and our executive team this year include: [ol] [li] How does our concept work in the current economy
- Marc Kiekenapp
- 2,650 Reads
As we examined last time, home-based franchising can be a great business model, but it's not for everyone. Working from home takes an organized self-starter who can get the job done despite what's going on around them. But for those who are self-motivated, can multi-task, and can balance working and living in their home, the benefits of a home-based franchise can add up to big success.
The choices for home-based franchising are varied and wide - and seemingly growing more by the week. These days there are all kinds of home-based franchise opportunities. Just a few examples include home decorating, home repair, home cleaning, healthcare, as well as a number of pet services. Most of these home-based franchises typically require a lower investment and often offer a more specialized service than their retail and commercial kin.
- Kerry Pipes
- 13,659 Reads 1 Shares
Kevin Archer has spent 18 years as a multi-unit franchisee with Bojangles' Restaurants in North Carolina. The Charlotte native knows how much Southerners love their chicken and biscuits. So does he: his favorite menu item is the Cajun fillet biscuit. Archer also believes "You are what you eat and drink." As a proponent of a healthy diet and lots of exercise, he sees no conflict between his philosophy and his business. Even in today's increasingly health-conscious culture, he still sees Bojangles' as relevant and popular.
- Debbie Selinsky
- 14,664 Reads 5 Shares
"The one with the most money wins the battle in recruiting new franchisees" is an axiom that means more now than ever. Emerging franchise companies have a difficult time getting the attention of serious franchise candidates in today's challenging economic environment. This is because new advertising and marketing channels are emerging, and more franchisors are chasing a limited number of qualified franchisee candidates.
- Marvin Storm
- 3,219 Reads 16 Shares
2009 continued to be a year in which courts found that by providing earnings information in an Item 19 franchisors were able to prevail in cases in which the franchisee asserted claims for fraud surrounding alleged misleading earnings claims. Due to the length of time it takes a case to arise and percolate through the court system, each of these cases involves franchisees who received disclosure under the prior UFOC Guidelines. However, as the cases all relate to a franchisee's ability to rely on the earnings information there is no reason to believe the result would differ under the FDD format.
- By: Lane Fisher and Joseph Dunn
- 7,779 Reads 1,023 Shares
Gaining access to and securing capital is more important for franchisees today than ever. Every week we talk with multi-unit franchisees about how they are growing and the kind of financing it takes for them to achieve their goals and objectives. It's an important topic and sometimes we get some very candid responses.
- Multi-Unit Franchisee
- 7,370 Reads
After graduating from the University of Pennsylvania and Loyola Law School in Los Angeles, Danny Sonenshine quickly found himself working as a litigator and transactional attorney at major firms in Orange County.
- Multi-Unit Franchisee
- 7,948 Reads
While some franchisees receive real estate assistance from their franchisors on their new locations, very few franchisees receive help from their franchisors on their lease renewals. Since 1993, I have been coaching franchise tenants and speaking at franchise shows regarding commercial leases and lease renewals.
- Dale Willerton
- 7,756 Reads 1,023 Shares
Non-traditional retail business locations such as airports, hospitals, and universities have become popular (and successful) business opportunities for some franchise brands that are actively on the grow. These types of locations usually offer plenty of customers and often only a few choices for food, beverage, and beyond. It's a perfect combination. Now add Bruegger's Bagels, Fazoli's Restaurants, Friendly's Ice Cream, Smokey Bones Bar & Fire Grill, and Timothy's Coffees of the World Inc., to that list of progressive franchise operators looking for new opportunities.</p>
- Multi-Unit Franchisee
- 3,757 Reads 7 Shares
2009 was a difficult year for most franchisors, but 2010 is a new year and many franchisors are again looking to grow their businesses. Developing and implementing a "non-traditional" franchise program is one of several key growth vehicles that we will explore in our three part series.
- Robert A. Lauer, Haynes and Boone, LLP
- 5,461 Reads 1,014 Shares
Just as you were getting comfortable with web analytics, here comes Social Media!, presenting a new set of opportunities and a new set of confusion. The overriding goal still is to integrate Facebook, Twitter, YouTube, and any other social media tools into your marketing mix. However, following last year's overwhelm of social media as the latest and greatest, companies are now taking a more sober look at its ROI. That means finding ways to measure it, a new search for meaningful metrics.
- Franchise Update
- 4,117 Reads 4 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. economy struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities - and this month, we report on an overseas franchisor set to open its first U.S. location, as well as several new entrants to franchising.
- Franchise Update
- 7,100 Reads 93 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, introduces "Multi-Unit Leadership-in-a-Box," an off-the-shelf, interactive, and multimedia franchisee training resource, developed in partnership with Sullivision.com. This program is based on three years of research that details the best practices and leadership insight of over 1,000 high-performing franchisees and multi-unit leaders. Customizable for any brand, Multi-Unit Leadership-in-a-Box is a complete leadership class that's instantly ready to teach and guaranteed to boost sales at least 1% in each market.
- PRESS RELEASE
- 4,565 Reads 14 Shares
As franchisors prepare for the upcoming renewal season, increased efficiency is likely a top priority for your franchise system. Our franchise team at Faegre & Benson has identified 12 tips to help you save time and money in preparing for a successful 2010 renewal season.
- Brian Schnell
- 3,185 Reads 2 Shares
Every sales professional knows the power of face-to-face contact. Franchise shows and similar forums are the opportunity to shake hands and personally connect with business buyers. But as show veterans realize, the show venue requires a different sales process than working Internet, broker, or print leads.
- Steve Olson
- 3,223 Reads 17 Shares
After graduating from the University of Pennsylvania and Loyola Law School in Los Angeles, Danny Sonenshine quickly found himself working as a litigator and transactional attorney at major firms in Orange County. It didn't take long for the Laguna Beach native to realize a few things about himself--realities that led him to leave the practice of law after six years for the very different field of franchising and restaurants.
- Debbie Selinsky
- 14,353 Reads 2 Shares
Years ago, the Mayor of New York City became famous for asking the city's residents, "How'm I doing?" Your franchisees' comments and their feedback are some of the best measurements of how your system is doing. There are several third-party businesses that are skilled in interviewing your franchisees to determine their satisfaction level; and I do believe this exercise is helpful. In addition to this service, commit to a steady diet of keeping your ear to the ground, so to speak, by staying tuned in to what your franchisees are saying to candidates during validation. There are times when candidates will not share what they hear, but often they will.
- Linda Burzynski
- 3,829 Reads 1 Shares
"The world of franchise development has changed during the last year and will never be the same again," says Art Coley, vice president of global development for AlphaGraphics. "You can't just put up an ad, throw money at the portals, and sit back and wait for the leads to come in anymore." That's exactly why he has spent most of the last three years at AlphaGraphics assembling, training, inspiring, and leading his new sales development team toward system growth.
- Kerry Pipes
- 8,667 Reads
Mergers and acquisitions (M&A) have been an instrumental component in franchising over the past two decades, particularly as a growth vehicle for expanding companies. Historically, most transactions in franchising have concentrated more on the "A" than on the "M." Some of the primary drivers for this have been cultural and business trends deeply entrenched within franchising. However, the current global financial crisis and franchising's own changing dynamics may alter this.
- Dean Zuccarello
- 5,973 Reads 1,014 Shares
What a difference a year makes! This year's Franchise Update Leadership & Development Conference was a welcome breath of fresh air. After all, it was just one September before that the financial and economic walls came tumbling down amid financial institution shakeouts, government bailouts, and an unending barrage of negative economic news chronicling this country's worst recession in decades. If you had been listening in or observing at this year's conference you wouldn't have known any of those catastrophic events had even happened. Optimism was in the air.
- Kerry Pipes
- 5,652 Reads
It sounds cliched, but leadership really does begin at the top. It's the attitudes and behavior of the CEOs, VPs, and other executives who set the tone for how well the franchise brand operates and grows. What's modeled at the top trickles down to all other areas of the brand. Optimism, integrity, teamwork, and recognition are all characteristics of strong leadership.
Amazingly, leadership and a culture of healthy productivity are not that difficult to create. As you review franchise brands - talking to both franchise executives and franchisees - keep an eye out for the following signs.
- Kerry Pipes
- 19,812 Reads 3 Shares
When people chat with Dustin Winkle about the economy's effect on their business, he doesn't say much. He doesn't want to make anybody feel bad. Because the truth is that the economic downturn has been very good for his 11 dry cleaners in the Boise, Idaho, area. "Dry cleaning is pretty recession-proof, so we're doing fine money-wise," Winkle says. "When I bought the company two years ago, the economy was already starting to slide down. Things have been a little slower, but not a lot."
- Debbie Selinsky
- 6,677 Reads 1 Shares
Ready for 2010? Who isn't? The recession, lack of available funding, and shaky consumer confidence hit hard around the globe this year--and franchising was no exception. You don't need me to point out that is has been a tough year, but enough of that.
- Linda Burzynski
- 3,385 Reads
Whenever I speak at a franchise convention, I inevitably meet many struggling franchisees leasing commercial or retail space. These tenants desperately need a rent reduction ... right now. The recession is taking its toll on all industries including franchising; sales are down, business expenses are rising, and the high cost of leasing space is closing in on tenants. Your monthly rental payment to the landlord can be one of your biggest monthly expenses. Therefore, reducing this monthly lease payment is imperative for businesses like yours to stay viable.
- Dale Willerton
- 9,433 Reads 747 Shares
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