Open New Units
True growth of a franchise brand comes from opening new units. A plan for smart and sustainable growth that will open new locations prepared for long-term success begins with recruiting the best franchisees, hiring the best employees, and opening new units in the locations and markets most likely to expand economically.
RECENT HEADLINES
October 25th, 2018
We are finally entering a cycle of higher inflation expectations. Is that good for franchising? That's not a trivial question as it can significantly affect unit performance and expansion decisions.
- Darrell Johnson
- 3,974
Many young entrepreneurs are discovering that franchising can jump-start them on the road to business success.
- Eddy Goldberg
- 14,938
Family-run franchise operations can offer a blessing, or a curse. An example of the blessing would be the close relationships and high degree of trust that exists in many families.
- Kerry Pipes
- 17,858
One of the greatest motivators for entrepreneurs is to be their own boss, make their own decisions, and control their destiny.
- Eddy Goldberg
- 14,370
When considering an exit strategy there are four basic ways to leave (or transfer) a business: 1) to heirs or family; 2) to a key employee or team; 3) to an outsider; 4) to no one, by shutting it down.
- Eddy Goldberg
- 17,597
It's always a great time to get into franchising. Yet for entrepreneurs seeking to start and build their own business, some times are better than others to consider franchising as the vehicle for attaining their personal and business goals.
- Eddy Goldberg
- 18,090
We ended our previous discussion of service concepts with the point that many of these businesses are based on customers making the choice to trade money (surplus) for time (deficit). The example we used was maid services, where time-starved customers spend money to buy time they can spend with their family and friends.
- Eddy Goldberg
- 20,315
One of the best ways for a new franchisee to get in on the action in franchising is by choosing a nontraditional location. Why? For starters, try reduced franchise fees, lower overall startup costs, smaller real estate fees (none for kiosks!), fewer employees, and for some, the option of beginning part-time.
- Eddy Goldberg
- 35,826
Five Guys Burgers and Fries Multi-Unit Operator Signs Agreement to Open 18 Melt Shop Locations Throughout Pennsylvania, New Jersey, and Delaware.
- Multi-Unit Franchisee
- 26,971
When it comes to franchise sales, should you do it yourself or team up with third parties?
- Art Coley
- 22,341
A series of highlights from the 2018 Annual Franchise Development Report (AFDR) begins with a look at recruitment budgets.
- Eddy Goldberg
- 4,692
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SPONSORED Open a Eat The Frog Fitness FranchiseAs an Eat The Frog Fitness Franchisee you will own a business with great potential in the growing $35 billion dollar fitness industry. |
12 ways to deepen franchisee involvement and grow your system
- Keith Gerson
- 3,912
Finding the best site for your new franchise unit (assuming your brand is not mobile or home-based) is a critical decision, one that should be based on the cold, hard facts: the numbers.
- Eddy Goldberg
- 28,378
After years of easy money for financing a franchise (or anything else for that matter), capital available for starting and growing a business shrank considerably as the U.S. and global economies began to feel the first stirrings of the subprime lending meltdown and ensuing economic recession.
- Eddy Goldberg
- 37,825
Better data means better candidates and better system growth
- Ed Teixeira
- 2,242
Chipotle was soaring along, the envy of many for its rapid growth, committed fan base, and growing reputation as the next big thing.
- Eddy Goldberg
- 2,171
"Real estate development is one of the hardest things for a franchise," says Philip Schram, chief development officer and chair of Buffalo Wings & Rings.
- Sara Wykes
- 2,962
Great company culture leads to great customer service, which then leads to happy customers.
- Marc Collopy
- 5,040
Improve your site selection with data and analytics
- Jeff Sturgis
- 2,330
You've decided that franchising is right for you. You've done the research, you've narrowed down the categories and sectors that you think would best match your skill set; perhaps you've even picked a brand you'd like to join.
- Kerry Pipes
- 31,463
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SPONSORED Open a Blaze Pizza FranchiseBlaze Pizza, the recognized world leader in fast, artisanal pizza, is looking to add to our team of top-tier franchise partners. |
How well is your sales team keeping franchise candidates engaged?
- Eddy Goldberg
- 3,082
Franchising has matured since Ray Kroc opened his first McDonald's in 1955 in Des Plaines, Illinois. First-day sales at that restaurant were $316.12. In 2016, McDonald's annual sales topped $24.6 billion at nearly 37,000 restaurants in more than 120 countries -- with about 84 percent of those stores owned by franchisees. Daily sales per franchised store today? You do the math!
- Eddy Goldberg
- 48,965
Home-based franchise businesses appeal to entrepreneurs for many good reasons. For some, it provides a relief from the daily commute. For others it represents a break from the corporate rat race. For still others it means a chance to follow their passion and do what they love. But for all, it's a chance to take control of their financial future and build a business of their own.
- By: Eddy Goldberg
- 13,112
A well-managed supply chain is a boon for your franchise development team
- Eddy Goldberg
- 5,918
So many good things are happening so quickly in franchising these days, it's hard to keep up (even for us!). So welcome to "Good News!" - our monthly roundup of franchise growth, finance, international expansion, milestones, and other positive news from franchisors large, medium, and emerging.
- Eddy Goldberg
- 2,571
Using data and tech to recruit franchisees at Capriotti's
- David Bloom
- 4,534
Going into business for yourself is a major life decision. One path is to start your own business or buy an existing one. Another is to choose the franchising model and buy into a proven system with a known brand name. Each path has its own promise, as well as its perils. Once the choice is made, the question becomes what type of business to choose.
- Eddy Goldberg
- 150,970
Type "franchise" into Google and you’ll get nearly 200 million hits (June 2017) -- a number that keeps growing every year. So what are the best sources? Which can you can trust to provide you with the information you want? Which ones should you avoid?
- Eddy Goldberg
- 26,138
So many good things are happening so quickly in franchising these days, it's hard to keep up (even for us!). So welcome to "Good News!" - our monthly roundup of franchise growth, finance, international expansion, milestones, and other positive news from franchisors large, medium, and emerging.
- Eddy Goldberg
- 1,884
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