Real Estate - Franchising.com

Real Estate

Finding the best real estate for your franchise is challenging and competitive, whether building anew or remodelling an existing location. Site selection is complicated and “A” locations are both hard to come by and expensive. Using a real estate broker to help find the optimal sites and negotiate the best contract is common practice. Seek legal advice to ensure you’re receiving the optimum tenant improvements and landlord benefits.

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When Lino DeFeo bought a Sign-A-Rama franchise in West Palm Beach, Fla., he didn't know much about signs. That was about 15 years ago. DeFeo had sold his trucking business in Manhattan and moved to Florida with his wife Maria and their two young children to join a family business. But that didn't work out exactly as planned. "I got out before we totally killed each other," he says with a laugh.
  • Eddy Goldberg
  • 9,308 Reads 1,014 Shares
Bill Dalton owned eight Grease Monkey franchises in the Seattle metro area. Today he owns one--a five-month-old, state-of-the-art facility in his home of Montgomery, Texas.
  • Eddy Goldberg
  • 5,493 Reads 1,014 Shares
Season's Greetings! As we all wind down the old year and ring in the new, franchising.com has a New Year's resolution of our own for 2008: to be your premier franchising resource. Not only for the analysis and profiles we've brought you over the years, but also for the timely news and events you need to keep informed of the most current, up-to-the-minute developments in the world of franchising.
  • Eddy Goldberg
  • 2,044 Reads 2 Shares
Even experienced area developers can get emotional about locations, says Jeremy Behar, president and CEO of Cirrus Tenant Services, a Toronto-based company specializing in real estate negotiations for various businesses, including franchises. As a consequence, he says, "They will do what it takes to sign the deal and get it done."
  • Ripley Hotch
  • 3,366 Reads 3 Shares
1987 was a good year for franchising. Up to then, franchising was young, brash, and not always professional. Franchises weren’t much concerned with history. They were built mostly by young entrepreneurs who saw an opportunity and grabbed it, looking forward, not backward. The first 30 years of modern business format franchising had the feeling of the Wild West (like the Internet of the last 10 years).
  • Eddy Goldberg & Ripley Hotch
  • 3,605 Reads 9 Shares
We all know to expect death and taxes, but tenants can add one more thing to that list: lease renewals. A lease begins to expire the day it's signed. Yet, how often have you found yourself scrambling to negotiate a renewal in the last couple of months or weeks before the last day? If you're waiting until the last minute to make the critical decision about renewing, and on what terms, you're clearly not dealing from a position of strength.
  • Jeremy Behar
  • 5,498 Reads 259 Shares
When native San Franciscan Ellen Hui left a career in banking in 1989 to take on her first Popeyes Chicken and Biscuits restaurant, she experienced a big culture shock.
  • Debbie Selinsky
  • 4,603 Reads 2 Shares
Ed Doherty has been pushing the envelope on growing a business packed with different franchises - lots of them. To date, they include Applebee's (51), Panera Breads (15), Chevys Fresh Mex (3), and an original concept, the Shannon Rose Irish Pub (1), in New Jersey. And ahead on the menu are the 20 El Pollo Loco locations he's developing in New Jersey.
  • John Carroll
  • 5,649 Reads 1 Shares
The incredible surge in outsourcing prospect generation to franchise brokers has - literally - reshaped the sales programs of many franchise systems.
  • Steve Olson
  • 3,278 Reads 5 Shares
In 2005, Mike Scruggs, Sr., was senior vice president of global operations at Little Caesar Enterprises, Inc. in Detroit. A year later, he was a Little Caesars franchisee operating two stores with his wife, Deb, and his son, Mike II, in Colorado Springs. By April 2007, he'd opened his fifth restaurant. Today he has plans for more, lots more!
  • Eddy Goldberg
  • 7,298 Reads 1,014 Shares
The Little Caesars Pizza story is… well, quite a story. Founded by Mike and Marian Ilitch, first-generation Americans of Macedonian descent, the company is approaching its 50th anniversary. Still family owned and operated, Little Caesar Enterprises, Inc. has grown prodigiously since its first store opening in 1959 in Garden City, Mich.
  • Eddy Goldberg
  • 16,102 Reads
Bojangles
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Franchising...it's not a business, but rather, a way of doing business. It's a unique, and usually highly effective, method of distribution for all kinds of products, goods, and services. It's also an industry that generates $1.5 trillion dollars in annual sales.
  • Kerry Pipes
  • 3,329 Reads 25 Shares
Training: the second leg of the hiring, training, and retaining triathlon so many multi-unit operators struggle to complete every day. Area Developer asked training experts at three brands - Regis Corp., Little Caesars, and PuroSystems - about their training programs - and how an emphasis on a high-quality training program, incorporating innovation and technology, remains a cornerstone of their growth strategy.
  • Eddy Goldberg
  • 5,394 Reads
Vaughn Hayes, the Virginia area developer for Salad Creations, had an early exposure to franchising - and it was a missed opportunity.
  • Ripley Hotch and Debbie Selinsky
  • 3,507 Reads 4 Shares
Conventional wisdom has it that young franchises are jumping on the area developer bandwagon to grow quickly and establish their presence in the most efficient way.
  • Ripley Hotch and Debbie Selinsky
  • 3,500 Reads 137 Shares
In the early summer of 2007, retired Air Force Tech Sergeant Robert Flores was making his way across the country with a U-Haul from Texas to Indiana to open his first Little Caesars franchise. That may sound extreme -- but it's not -- nor, is this his first brush with running his own business.
  • Franchising.com
  • 2,063 Reads 35 Shares
On Wall Street, smart investors will tell you that diversification is a critical part of any portfolio. It's an approach that can shelter investors from significant losses by spreading the risk. It's also a good way to ensure consistent dividends. And diversification is a strategy that is being adopted and becoming more and more popular among multi-unit franchise operators.
  • Kerry Pipes
  • 7,281 Reads 2 Shares
In 2007, chances are there's a sign franchise near you--offering customers a wider array of choices than ever before, thanks to continuing technological advances, especially in communications and digital imaging.
  • Eddy Goldberg
  • 2,818 Reads 43 Shares
Many trace the origins of franchising as we know it today back to Europe in the 1800s, when German beer makers granted pubs and taverns the rights to sell and use their name. In fact, the word "franchise" is a French derivative meaning privilege or freedom.
  • Kerry Pipes
  • 4,008 Reads 102 Shares
As highlighted in last quarter's Investment Insights column, most of us are not particularly suited to be wise investors. In fact, neuroscientists are increasingly proving what veteran investors and asset managers alike have long suspected: Individuals make a lot of not-so-rational choices when it comes to dealing with their money, investments and financial affairs.
  • Carol Clark
  • 3,081 Reads 1 Shares
Financial experts agree it’s a good idea to help existing and future franchisees find the best financing methods to launch or expand a franchise. While you may not be able to offer franchisees a financing package, it makes good business sense to provide as much practical information as possible concerning where to apply for and successfully land business loans.
  • Joan Szabo
  • 3,737 Reads 24 Shares
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Mobile Attic is on top these days, literally and figuratively. The Elba, Ala.-based firm is the winner of this year's Franchise Update Store Redesign contest. This entitles the five-year-old company to a redesign by Total Resource Group of Lincolnwood, Ill. We'll show you the new design when it's done.
  • Ripley Hotch
  • 4,860 Reads 59 Shares
Franchising is founded on the concept of replicating success at the unit level. But Mary Rogers is taking that premise one better: she's replicating success at the franchisor level.
  • Eddy Goldberg
  • 4,789 Reads 22 Shares
Daren Patera and Brian Wernicke met in law school in Salem, Oregon, on their first day of orientation. "After about our second day, we knew we didn't want to be lawyers," says Patera, and they decided to go into business. "We wanted to be our own bossesâ€"not graduate and get a job working 80 hours a week for a law firm and hope to be a partner someday."
  • Eddy Goldberg and Kerry Pipes
  • 4,541 Reads 19 Shares
Pets and pet-related businesses are among today's hottest franchise opportunities--especially in the U.S., where pet owners are notorious for pampering their dogs, cats, birds (and even their rodents, reptiles, amphibians, and fish).
  • Eddy Goldberg
  • 3,177 Reads 17 Shares
Kelly Saxton thinks big. He's the largest McAlister's Deli multi-unit operator, with 30 units throughout Texas, Oklahoma, Mississippi, and Kansas. Prior to that, he was the largest Mazzio's Pizza multi-unit operator, with 50 units throughout Texas, Arkansas and Mississippi.
  • Eddy Goldberg and Kerry Pipes
  • 3,766 Reads 1 Shares
I have to confess that I truly admire the creativity of marketing folks. I have very little creativity, and I am impressed that on occasion their creativity has some semblance to reality. On the other hand, I read recently how a marketing consultant was hired to develop some new images for Atlanta's Metropolitan Area Rapid Transit Authority. The consultant's "suggestions" included replacing the typical bench seats we find in subway cars with overstuffed leather sofas. You can write the next sentence for yourself.
  • Rupert M. Barkoff
  • 3,897 Reads 9 Shares
Fish tales about the "big one that got away" are legendary. Franchise salespeople have their own stories of big ones that got away, too. But the good ones also tell tales of the near-misses they pulled from the fire-- and of how, at the eleventh hour, whether through fancy footwork or a simple stroke of luck, they landed the deal after all.
  • Debbie Selinsky
  • 5,204 Reads 3 Shares
Staffing accounts for well over 50 percent of a franchise company's expenses, says Charlie Simpson, executive vice president and chief operations officer at Great Clips. And at Great Clips, he says, that figure is probably over 60 percent. Lowering that number can help a company compete--on price, in the short term. But when hiring for success, there are more important considerations than money.
  • Eddy Goldberg
  • 3,400 Reads 1 Shares
2006 is a good year to be in the franchise recruitment business. That's because it's a good year for franchising. As franchising heats up, the demand to fill positions also intensifies----and so does competition for GOOD people to fill them.
  • Eddy Goldberg
  • 4,295 Reads 3 Shares
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