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Informative articles to support business buyers, franchisees, and franchisors in New Jersey.
Among the many costs associated with running a successful franchise are staff wages, marketing campaigns, and product costs (with regard to ordering and maintaining an inventory). One of the biggest expenses, without question, has to be your commercial rent. Higher income from rent-paying tenants, like you, will make a landlord happier. However, this remains as money out of your pocket. By decreasing your monthly rent, your profits will increase. Doing this is not impossible. Know that the amount of rent that you agreed to pay at the beginning of your lease term is not necessarily the amount of rent you will pay on your renewal. I have been quite successful in negotiating midterm rent breaks and lease renewal rent reductions for many clients - both independent business owners and franchisees.
- Dale Willerton
- 38,270 Reads 20 Shares
In part one of this three-part series, I discussed self-assessment and how to take inventory of the leadership shadow that you cast. Nothing can be more fundamental to business success than acquiring the necessary skills that are critical to leading others in a multi-unit franchise operation.
- Tom Welter
- 10,457 Reads 1 Shares
For the past few years you have heard me note that the majority of franchised units in the U.S. are owned by multi-unit operators. With more than 400,000 franchised units in the country, multi-unit operators control about 53 percent of those units. That's impressive, and the percentage controlled by multi-unit operators is rising. This growth is a consequence of many brands focusing their development models on multi-unit development packages over single-unit programs.
- Darrell Johnson
- 9,340 Reads 324 Shares
As a franchisor, what are some things you are doing (or considering doing) to help give your franchise development people enriched selling opportunities in today's economy?
- Franchise Update
- 6,393 Reads
As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to 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.
- Eddy Goldberg
- 10,059 Reads 93 Shares
To some people, trade shows are a necessary evil, while others believe by ignoring them it will make them go away. The reality is that trade shows are not going away. Just the opposite is occurring right in front of our eyes: They are becoming more important.
- Ray Titus
- 3,673 Reads 44 Shares
The process of recruiting franchisees can be grueling. Half the battle is deciding where and when to reach your audience. What if there were a recruitment strategy that eliminated the need to search high and low for franchisees, and instead turned them right to you
- Lisa Wehr
- 3,854 Reads 122 Shares
When Anil Yadav hears people talk about the United States as the land of opportunity, he takes pride in the fact that his life since emigrating from India has been a testament to the promise implicit in that phrase.
- John Carroll
- 23,670 Reads 6 Shares
When Hurricane Katrina slammed into New Orleans five years ago, Glenn Mueller already was a grizzled veteran of the Gulf Coast hurricane season. Being a franchisee carries some special challenges for anyone who operates in the region, and Katrina put all of his considerable skills as one of the country's top Domino's franchisees to the test.
- John Carroll
- 7,762 Reads 393 Shares
For more than a decade now, Franchise Update has deployed teams of mystery shoppers to evaluate the performance of sales teams, specifically their responses to phone and online queries from qualified prospects. The companies surveyed each year are franchisors registered to attend the annual Leadership & Development Conference who ask to be mystery shopped. This year, our telephone mystery shoppers phoned 155 franchisors and submitted forms on 132 recruitment websites; and a separate team evaluated the websites themselves.
- Eddy Goldberg
- 5,754 Reads
A great franchise in a poor location will become a poor business. When it comes to site selection, one difference between an independent tenant and a franchisee is that, presumably, the franchisee will be getting real estate help and support from the franchisor.
- Dale Willerton
- 74,638 Reads 11 Shares
"Mystery shopper": two words that strike fear in the hearts of franchisors with poorly managed sales departments and weak sales processes. But for those on top of their development game, who always have a finger on the pulse of their sales team, it's simply a validation of what they already know.
- Kerry Pipes
- 5,978 Reads
As we continue to mine Dave Melton's book, <i>Hire the American Dream</i>, I thought it would be interesting to highlight a case study that demonstrates just how successful smart hiring can be. Here Melton describes his experience hiring an immigrant.
- Kerry Pipes
- 4,143 Reads 88 Shares
In my 20-year journey of understanding leadership fundamentals, I have found change to be constant and adaptability to that change as the number one indicator of personal success.
- Tom Welter
- 6,002 Reads 143 Shares
Should a franchisor sign the head lease and sublease the space to a franchisee or allow the franchisee to enter into his or her own lease agreement with the landlord? Both options are viable, but which is more practical and better for you?
- Dale Willerton
- 10,234 Reads
Just like any business, the franchising business is one that I have seen evolve tremendously over the past 30 years. While many of the cornerstones and crucial elements - product, simplicity, control, and support - remain the same, so much is changing.
- Larry Feldman
- 4,175 Reads
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced its 2011 conference schedule. The Multi-Unit Franchising Conference is April 27-29 at The Venetian in Las Vegas; the new Franchise Consumer Marketing Conference is June 14-15 at the Omni in San Francisco; and the Franchise Leadership & Development Conference is October 12-14 at the Intercontinental, Buckhead Atlanta.
- Franchise Update Media
- 5,942 Reads 3 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced its 2011 conference schedule. The Multi-Unit Franchising Conference is April 27-29 at The Venetian in Las Vegas; the new Franchise Consumer Marketing Conference is June 14-15 at the Omni in San Francisco; and the Franchise Leadership & Development Conference is October 12-14 at the Intercontinental, Buckhead Atlanta.
- PRESS RELEASE
- 6,491 Reads 3 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced its 2011 conference schedule. The Multi-Unit Franchising Conference is April 27-29 at The Venetian in Las Vegas; the new Franchise Consumer Marketing Conference is June 14-15 at the Omni in San Francisco; and the Franchise Leadership & Development Conference is October 12-14 at the Intercontinental, Buckhead Atlanta.
- PRESS RELEASE
- 6,120 Reads 3 Shares
When a franchise unit or organization runs into trouble, what does your franchisor do to help? Unfortunately, according to several multi-unit operators we spoke with, not much, not enough, nothing at all--and sometimes worse, demanding future royalty payments for closed units, or refusing to allow franchisees to shut or relocate distressed units.
- Eddy Goldberg
- 6,806 Reads 1 Shares
U.S. franchisor interest in Asia seems to be at an all-time high, yet from a legal compliance standpoint it has never been more difficult to enter into many of the various Asian markets.
- Robert A. Lauer
- 9,100 Reads 966 Shares
Like it or not, litigation comes to virtually all franchise systems. Take a moment to see how savvy you are on franchise litigation issues based on real-world cases.
- Jonathan Solish
- 8,030 Reads 1,014 Shares
As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to 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
- 6,051 Reads 93 Shares
When your candidates arrive at Discovery Day, naturally you'll start with a warm welcome. Explain the purpose, process, and activities for the day to ensure everyone is "aligned" in the right direction. This provides further clarity for your Discovery Day guests and eliminates any potential confusion that may occur during the event.
- Steve Olson
- 6,887 Reads 6 Shares
There is an open debate among attorneys over the value of using social media (blogs, Facebook, LinkedIn, and Twitter predominantly) and even websites to generate business for themselves.
- Terrence M. Dunn
- 3,777 Reads 17 Shares
Each year, for more than a decade, Franchise Update Media Group has surveyed hundreds of franchisors about their sales and development practices and compiled the results in the Annual Franchise Development Report (AFDR).
- Eddy Goldberg
- 3,831 Reads 10 Shares
I begin this column by stating where I am going with this piece. I am going to put franchise sales legislation and regulation under the microscope, and ask the penetrating question of whether it is, or is not, necessary. (Similar questions should be asked about franchise relationship legislation, but I will leave that for a future column.)
- Rupert M. Barkoff
- 4,394 Reads 17 Shares
One of the most anticipated events at each year's Leadership & Development Conference is the presentation of results from the Annual Lead Generation Survey. This year's survey gathered data on sales and recruitment practices from 126 franchisor participants representing more than 42,000 units (38,563 franchised and 3,528 company-owned). Participants consist of franchisors who have registered for the conference and fill out the survey forms. The responses are sorted out and analyzed to provide an in-depth view into the recruitment and development practices, budgets, and strategies of a wide cross-section of franchisors--and provide the basis of our Annual Franchise Development Report (AFDR).
- Eddy Goldberg
- 5,881 Reads
Over the last several years, a number of jurisdictions have enacted legislation requiring chain restaurants to disclose caloric content and other information regarding their foods. Most commonly, caloric content must be placed on the menu board or menu near the corresponding food item
- Anthony Marks
- 2,025 Reads 3 Shares
Tulsa resident Bill Ramsey had worked hard in the international manufacturing business all his life, and was a bit disappointed when he learned that none of his five children were interested in following him into that industry. He didn't have a lot of family growing up, so he was determined to keep his close.
- Debbie Selinsky
- 7,755 Reads 17 Shares
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