New Jersey Feature Articles

New Jersey Feature Articles

Looking for a franchise opportunity in New Jersey? Whether you're a first-time business owner or a seasoned entrepreneur, New Jersey offers exciting potential for franchise success. From food and beverage to retail and services, the diverse economic landscape in New Jersey is ripe for franchise opportunities. Explore the best franchise options today and take the next step toward business ownership in New Jersey.

Informative articles to support business buyers, franchisees, and franchisors in New Jersey.

The Human Genome project, a rapidly developing area of genetics, is the subject of much conversation today. In classical genetics, the genome of an organism is a complete genetic sequence on one set of chromosomes. The ability to understand these building blocks of life will lead to medical breakthroughs that will transform our lives in the future. Metaphorically speaking, a "Franchise Genome" could be viewed as a manifestation of how a franchisor's DNA can be sequenced, understood, and passed along to franchisees.
  • Marvin Storm
  • 4,467 Reads 1,023 Shares
Each year at Franchise Update we survey franchisees across the U.S., toting up their brands, units, and locations, and ranking them by size for our annual "Mega 99" list. And, since not all franchises are created equal in terms of initial investment and ongoing support, we also compiled a second list, ranking the largest franchisees by industry. Numbers are important, of course, but they don't tell the story of the struggles, false starts, and failed endeavors each successful multi-unit operator has overcome in building their organization. Many have spent decades building their companies, brand after brand, unit after unit.
  • Multi-Unit Franchisee
  • 9,600 Reads 11 Shares
First Watch Restaurants Inc., a daytime-only restaurant group based in Bradenton, Fla., has begun franchising. Founded in 1983, the chain has about 80 restaurants open with expectations for 110 by 2012. The restaurants are open 7 a.m. to 2:30 p.m., and store sales average about $1.2 million. Same-store sales were expected to be up 3 to 5 percent in 2009 and total sales up about $2 million to $85 million (the company reports 25 consecutive years of same-store growth). First Watch is looking for franchisees to develop areas near its existing markets, including Kansas City, St. Louis, Cincinnati-Dayton, and Orlando-Tampa.
  • Franchise Update
  • 3,727 Reads 13 Shares
Will local marketers continue to spend money on "traditional media" (print, radio, TV) in 2010, or turn increasingly to online channels including social media? Will "old-fashioned" direct mail make a comeback, or will local marketers turn to mobile advertising using smart phone technology?
  • Franchise Update
  • 3,126 Reads 5 Shares
Tracking unit economic performance effectively can take some doing. Generally, it involves 1) defining what constitutes comparable data across individual units, and 2) finding the right technology for recording and reporting it. Making it work requires not only strategizing and goal-setting at corporate, but also involvement and buy-in from franchisees - all in the name of improving system-wide profitability, one unit at a time.
  • Franchise Update
  • 6,886 Reads 1 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.
  • Franchise Update
  • 6,159 Reads 93 Shares
Bret Hooppaw, Luihn Food Systems' director of operations, had an "Aha!" moment when his 19-year-old daughter said she'd applied online for a summer job. When he asked, "Why don't you just go over there and apply in person?" her response was, "Nobody does it that way anymore, Dad." That's when Hooppaw, who helps oversee 90 KFC and Taco Bell locations, realized instant communication technologies are second nature to the Millennial generation--those who make up most of today's frontline employees--who will be his managers 5 years from now and who will be the organization's leaders in the next 5 to 10 years. "I knew I had to find a way to meet them on their ground," he said.
  • Mel Kleiman
  • 4,165 Reads 8 Shares
The importance of the "Mission Possible" theme was not lost on attendees at the 2009 Franchise Update Leadership & Development Conference this past September 23-25 at the Drake Hotel in Chicago. Many had been at this same location, just one year before, when the simmering financial crisis came to a head and the federal government rushed in with billions in bailout funds.
  • Kerry Pipes and Eddy Goldberg
  • 6,666 Reads
Glen Helton's lifelong career in franchising began as a teen with his first job at a Burger King in Fayetteville, N.C. Today the Texas native is president and COO of Strategic Restaurants Acquisition Corp. (SRAC), which operates 271 Burger Kings and 17 T.G.I. Friday's across 9 states. Helton, along with SRAC's CEO, Jerry Comstock (former Bennigan's CEO), have become known for turning underperforming restaurants into profit generators. They did it for the 226 Burger Kings they acquired out of bankruptcy 5 years ago, and they also have added 45 new ones. Today they're applying their turnaround skills to the 16 T.G.I. Friday's in New York and Florida that they bought out of bankruptcy in August 2008.
  • Debbie Selinsky
  • 10,819 Reads 1,189 Shares
It's not difficult to see the opportunities offered by co-branding. Teaming related concepts together in one central location can certainly offer benefits in many situations. But even if you don't co-brand in the same location, there's a related twist some franchisees have used effectively by turning to complementary brands. Portland, Oregon multi-unit operator Steve Foltz knows all about the technique. Foltz got into the franchising business almost by accident following college in the mid-1980s. He was working as an assistant manager at a restaurant while job searching when he realized the restaurant business might offer a future of its own. A friend of his was in franchising and looking for a partner. Within a year the new partners had opened three Cinnabon's in the Portland area.
  • Kerry Pipes
  • 24,088 Reads 3 Shares
Jason Shifflett learned early in life that Domino's Pizza could offer him the keys to a successful life--and that he plans you make in your youth don't always come to pass. "I started with Domino's at age 14 and worked my way up in high school," says Shifflett. In college, he was a biology student and planned to attend medical school. He continued to work at Domino's as a general manager--and learned a few things there too.
  • John Carroll
  • 4,242 Reads 71 Shares
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One of the most helpful services franchisors can provide to their franchisees is accounting direction and services. I am often astonished at how little guidance so many franchisors provide in this area. How will franchisees know if they are truly making money and operating effectively if they don't keep good books and receive information to help them run their businesses more effectively?
  • Rupert M. Barkoff
  • 27,135 Reads 4 Shares
Today's struggle for more qualified franchise candidates has ignited greater emphasis for companies to produce franchise leads within their systems. Last year, 38 percent of franchisors surveyed "incentivated" franchisees who referred prospects that bought their franchise. This year a whopping 65 percent do, according to the latest Annual Franchise Development Report (AFDR). The study also reveals that referral sales continue to produce the highest closing ratios and continue as the number-two sales producer after Internet portals. These powerful stats are cause for more aggressive referral selling.
  • Steve Olson
  • 4,366 Reads 19 Shares
Ben presented us with a situation common to many business owners who find out too late they are not in a position to exit on their terms. Ben had founded and built a very successful business supply business. He had customers across the country and was consistently earning solid profits under his management. He had decided he was ready to retire in the near term.
  • Nicholas K. Niemann and Andrew Horowitz
  • 5,715 Reads
Looking to open a new franchise location? You might want to consider using Facebook. That's what multi-unit franchisees like Adam Saxton are doing - and they're getting results. When the Saxton Pierce Restaurant Corp. was looking to open a new McAlister's Deli location in Texas last spring, the company called on Facebook.
  • Multi-Unit Franchisee
  • 6,443 Reads 279 Shares
Buying assets out of bankruptcy court is time-consuming but usually easy. But if your target is a franchisee and you get choosy - meaning, for example, that you want to buy only 10 outlets in a bankrupt 20-outlet franchise restaurant chain - things get dicey. Why? Because it's hard to determine a fair value for such assets, and if you fail to do so, you could find yourself back in court fighting angry creditors who think you've cheated them.
  • Barry Kurtz and Nevin Sanli
  • 4,597 Reads 57 Shares
Franchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced the 2010 Annual Franchise Development Report (AFDR), the only sales and lead generation benchmark report available in the industry. One of the key findings from the in-depth report that features results from more than 140 franchise organizations that are successfully expanding their systems, is that over half of them have reduced start-up costs in the past 12 months.
  • Press Release
  • 3,094 Reads 2 Shares
This month I complete the discussion of Selling Skill #3. These three skills, essential for making new franchise sales, are part of my book, "Grow to Greatness: How to build a world-class franchise system faster" - and are appropriate for both new and emerging franchisors, as well as experienced sales pros seeking to brush up on their skills and/or improve the performance of their sales staff.
  • Steve Olson
  • 3,948 Reads 49 Shares
We asked two franchisors if they're seeing signs of economic recovery - and how what they see is affecting their plans for recruiting new franchisees in 2010. One is in the rapidly growing healthcare services field, the other in the highly competitive pizza sector. See if any of their perceptions or programs can help your plans for growth in the coming year!
  • Franchise Update
  • 3,644 Reads 3 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 through master franchise deals.
  • Franchise Update
  • 6,725 Reads 93 Shares
I love Tivo. At least, I used to. But then I had to interact with live people. Now this is not the beginning of a rant about bad service. It's the beginning of a rant about bad service design. Because when employees are directed to follow processes that drive customers crazy, that failure of service design is management's responsibility.
  • Jack Mackey
  • 5,228 Reads 340 Shares
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Each year, as part of the Leadership & Development Conference, Franchise Update offers franchisor attendees the opportunity to have their sales operation mystery shopped. Our mystery shoppers pose as qualified prospects, phoning in to the franchise sales department, and submitting applications online. The results are presented at the conference in September, and made available in the Annual Franchise Development Report. Here's what we found.
  • Eddy Goldberg
  • 7,159 Reads
Since mid-2008, the economy, consumers, and the restaurant industry have been in the vice grip of the country's deepest and longest recession since the Great Depression. Finally, a light at the end of the tunnel is beginning to emerge. Most economists are now saying we have reached or passed the bottom. While the going is certainly still rough, business conditions are beginning to improve, unemployment is stabilizing, and consumers are dipping their toes back in the spending pool. Capital flow is increasing, with equity investors coming off the sidelines and lenders beginning to seriously pursue new debt facilities for borrowers.
  • Dean Zuccarello
  • 6,058 Reads 361 Shares
One of the highlights each year at Franchise Update's Leadership & Development Conference is the presentation of the new Annual Franchise Development Report (AFDR). The 2010 AFDR gathered responses from 116 of the franchisors who attended this year's conference. Participants represented 38,800 units (28,300 franchised, 4,600 company-owned, and 5,900 international), and they plan to add 5,360 more franchised units this year through 3,400 franchisees.
  • Eddy Goldberg
  • 5,982 Reads 1 Shares
When the economy turns downward it's harder for most franchisors and franchisees to increase revenues. The cost to achieve an incremental dollar of revenue is higher in a down economy, which means that less of each new dollar reaches the bottom line. Not surprisingly in this environment, companies turn to the expense side of their income statement, where every dollar of expense reduction falls almost fully to the bottom line. It's a simple business strategy: if you can't increase revenues, reduce expenses.
  • Darrell Johnson
  • 4,064 Reads 3 Shares
After graduating from the University of Maine, Michael Kern landed jobs at top advertising agencies including Young & Rubicam and McCann Erickson. He later held top marketing jobs for KFC and Long John Silver's, at one point serving as worldwide chief marketing officer for Long John Silver's.
  • Debbie Selinsky
  • 4,243 Reads 10 Shares
When it comes to generating leads and identifying prospects, it's important to act effectively and efficiently. It's a competitive market, with quality leads difficult to come by. Franchisors with aggressive recruiting strategies and practices are more likely to find the best candidates and turn them into successful franchisees. They're also more likely to be recognized as winners of Franchise Update Media Group's Annual STAR (Speaking To And Responding) Awards.
  • Kerry Pipes
  • 7,529 Reads 1 Shares
A Nov. 2 article in <i>The Boston Globe</i> puts numbers on what everyone in franchising and already knows: large national banks that received billions in bailout funds are not making SBA 7(a) loans to small businesses. Bank of America (more than $45 billion in bailout funds) reportedly made only eleven 7(a) loans in Massachusetts in the year (totaling $240,500) ending in September - down from 54 loans totaling $1.6 million the year before. While some smaller banks that received taxpayer funds were tarred with the same brush, the article also noted that "Some of the state's smallest - and most stable - banks have been filling part of the lending void."
  • Franchise Update
  • 4,555 Reads
Wingstop announced positive comps for the 25th consecutive quarter, dating back to July 2003. Wingstop ended its most recent quarter with a 1.6 percent increase and is up 3.8 percent for the year. The company predicts the positive trend to continue into the fourth quarter during the football and holiday seasons, when its sales are typically strongest. "This news is strong evidence that limited-service chains continue to deliver value during a difficult economic climate," said Darren Tristano, executive vice president of Technomic, Inc., an industry research firm. Wingstop, founded in 1994 and franchising since 1997, has 425 restaurants open in 34 states.
  • Franchise Update
  • 4,229 Reads
The franchise registration states require an updating of your FDD annually. This requirement necessitates the filing of a renewal application (including the revised FDD, current audited financial statements, and supplemental documents) with each registration state in which you plan to continue selling franchises.
  • Brian Schnell
  • 9,850 Reads 1,021 Shares

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