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Construction

Completing the construction and build-out of a new franchise location requires careful advance planning and dealing with landlords, local regulations, contractors and more, as does reimaging an existing location. Franchisors have specifications for each type of venue and footprint, from end-cap to malls to nontraditional sites such as airports or colleges. The permitting process can be lengthy but using a local expert can help.

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Capital fuels growth, and multi-unit operators know how important growth is to their success. One finance company making growth happen for many area developers is GE Commercial Finance, Franchise Finance (GEFF). With more than $12 billion in served assets, GEFF has more than 6,000 customers and 21,000 property locations, mainly in the restaurant, hospitality, branded beverage, storage, and automotive industries.
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But with a father who was a barber-turned-businessman and franchise owner, and a mother who was a stylist herself, they knew something about the hair business.
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Who ever forgets those early embarrassments? The careless and overheard remark in high school that gets repeated for months, the ticket for running a stoplight the day after you got your license-everyone knows those.
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John D. Prince is a franchise owner on the grow. His current flags include Applebee's, Aaron's, Famous Dave's, and Hooters. His holdings are concentrated mainly in Utah, where, owing to the state's unique liquor laws, he also owns and operates three private sports bars. He got involved in Applebee's by necessity, when his Ponderosa Steakhouses were tanking in the early 1990s, and has steadily added new sites-and new concepts-ever since.
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Franchised businesses generate jobs for more than 18 million Americans and account for 9.5 percent of the private-sector economic output, a study released today by International Franchise Association Educational Foundation reported.
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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.
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