March 11, 2010
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Your Automotive Franchise News SourceFranchise News Watch brings you the latest in automotive franchising news from around the web. As a news aggregator for the automotive franchise industry, Franchise News Watch streams the latest ground breaking franchise articles, features, guides, blogs, news and more directly to your desktop.  Automotive Franchise NewsJiffy Lube(R) Exceeds $1 Million Fundraising Goal with Time Still Remaining in Maintenance Partners for Life CampaignJiffy Lube(R) reached its $1 million national fundraising goal for the 2010 Maintenance Partners for Life campaign that benefits the American Heart Association's Go Red For Women movement, with four days still remaining in the campaign. More than 1,700... Midas Reports Fourth Quarter and Full Year 2009 ResultsMidas, Inc. (NYSE: MDS) reported a net loss of $(0.2) million--or $(0.02) per diluted share--for the fourth quarter ended Jan. 2, 2010, compared to net income of $2.7 million--or $0.20 per diluted share--in the prior year. RNR Custom Wheels And Tires Treads "cultural Change Path"Larry Sutton, owner and founder of RNR Custom Wheels and Tires is featured in the February issue of the Tampa Bay Business Journal, entitled "A Rent-To-Own Keeps It's Growth Rolling." The article follows Sutton's career, from his first company... Snap-on Tools Named Top Tool Franchise for Franchisee SatisfactionSnap-on Franchise has been named the top tool franchise and one of the top 30 franchises for franchisee satisfaction in Franchise Business Review's (FBR) 2010 rankings. This fifth annual study of franchisee satisfaction identifies top franchise... Dollar Thrifty Automotive Group Extends Vehicle Supply Agreement With Ford Motor CompanyDollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that it has extended its vehicle supply agreement with Ford Motor Company (Ford) for an additional year. The agreement will allow the Company to source a portion of its annual vehicle... Jiffy Lube(R) Well On Its Way to Raising Another $1 Million to Fight Heart DiseaseJiffy Lube(R) announces it has already reached more than 65 percent of its $1 million national fundraising goal for the 2010 Maintenance Partners for Life campaign. Through the generous support of its customers, Jiffy Lube has already raised $658,655... RNR Re-designs Website To Include Social Networking: Reaches 1,200 Members In Less Than 30 DaysDuring the 2010 RNR Custom Wheel and Tire Franchise Meeting held January 18 – 21, in Tampa, FL, RNR, one of the largest custom wheel and tire stores in the world, launched its newly re-designed website. The site provides improved functionality and. Dollar Thrifty Automotive Group Reports Record Fourth Quarter ProfitDollar Thrifty Automotive Group, Inc. (NYSE: DTG) today reported results for the fourth quarter and year ended December 31, 2009. Net income for the 2009 fourth quarter was $11.5 million, or $0.42 per diluted share, compared to a net loss of... Martin Ellen to Become CFO of Dr Pepper Snapple Group; Aldo Pagliari Named Successor as Snap-on CFOSnap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users, today announced that Martin M. Ellen, senior vice president - finance and... Geelong Joins Expanding JAXQuickfit Tyres NetworkGeelong's just-opened JAXQuickfit Tyres store in Moorabool Street is the latest to join the tyre retailer's rapidly expanding Victorian network.
Snap-on Announces Fourth Quarter and Full Year 2009 ResultsSnap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users, today announced 2009 financial results for the fourth quarter and full year. Dollar Thrifty Automotive Group To Announce Fourth Quarter And Full Year 2009 Financial ResultsDollar Thrifty Automotive Group, Inc. (NYSE: DTG) will announce fourth quarter and full year 2009 financial results before the market opens on Wednesday, February 17, 2010. ABRA Auto Body & Glass Adds Muscatine, IA FranchiseABRA Auto Body & Glass, a Minneapolis-based damaged vehicle repair company, announced today the opening of its ninety-eighth repair center. Located in Muscatine, Iowa, this is the second ABRA franchise awarded to brothers Tim and Jeff Weber. Snap-on Tops Mobile Tool Franchises in '2010 AllBusiness AllStars'The Snap-on Tools Franchise was selected the top tool sales franchise and 45th overall franchise by Dun & Bradstreet's (D&B) AllBusiness.com editors for its "2010 AllBusiness AllStars." Snap-on Franchise bettered its top 100 ranking last year, mov Jiffy Lube(R) Sets Goal to Raise $1 Million for Go Red For Women(TM) Movement for the Third Straight YearToday, Jiffy Lube International, Inc. announces the launch of year three of the Jiffy Lube Maintenance Partners for Life campaign to benefit the American Heart Association's Go Red For Women movement. The campaign, emphasizing the importance of... CAR-X Auto Service Offers Vehicle Safety Inspections in San Antonio, TXDoug Stine, Car-X Auto Service Store Manager in San Antonio, TX, was featured in an NBC News 4 WOAI story on Tuesday, January 26, 2010, about the Toyota recall involving sticking accelerator pedals. Midas Acquires 22 Northern California Midas Shops from FranchiseeMidas, Inc. (NYSE: MDS) has acquired 22 Midas automotive service shops in Northern California from franchisee Maurice I. Glad. The transition was completed this weekend, and the shops opened today under Midas' management. There was no interruption in... Fiesta Auto Insurance Opening Five Locations in Miami AreaFiesta Auto Insurance, the nation's only insurance and tax preparation business, today announced that it will be opening five locations in the Miami area within the next two months. Snap-on Incorporated to Webcast 2009 Fourth Quarter and Full Year Results Conference CallSnap-on Incorporated (NYSE:SNA) will release 2009 fourth-quarter and full year results prior to the market open on Thursday, February 4, 2010. A conference call to discuss the results will be held at 10:00am ET on that day. The conference call, with... Experience the Big Apple on a Motorcycle Rental From EagleRiderEagleRider, the world's largest motorcycle rental and tour company, is pleased to announce the opening of two new EagleRider motorcycle rental outlets in New York - Queens and Howard Beach. Snap-on Expands Relationship With NHRA Legend Cruz PedregonBuilding on a successful 18-year relationship, Snap-on Tools announced today that it will be expanding its partnership with NHRA legend Cruz Pedregon. In 2010, Snap-on will serve as the primary sponsor for Cruz's NHRA Funny Car team.
How to Start a Mobile Car Wash FranchiseDon't know what business to start this year? Here is an idea. The company Wash My Car The Mobile Car Wash Franchise is a turnkey business that future clients can begin immediately, with no previous automotive experience, with minimal investment...
JAXQuickfit Tyres Expansion Continues with New Rockhampton StoreUtilising local expertise to the maximum, JAXQuickfit Tyres has granted a new franchise in Rockhampton. JAXQuickfit Opens New Tweed Heads Tyre StoreLocal tyre man Nathan Brookes recently opened the newest addition to the national JAXQuickfit Tyres network, in Tweed Heads. Dollar Rent a Car Unveils New Travel Blog on UK SiteDollar Rent A Car, a subsidiary of Dollar Thrifty Automotive Group, Inc. (NYSE: DTG), announced today that it has launched a new travel blog on its UK website. The blog features fresh, first-person content from some of the web's hottest travel writers... Entrepreneur Ranks RNR Custom Wheels And Tires #1 In-categoryEntrepreneur Magazine's Franchise 500 ranks RNR Custom Wheels & Tires, one of the fastest-growing wheel and tire chains in America, #1 in the Miscellaneous Auto Products category. This ranking appears in the January 2010 issue. Dollar Thrifty Automotive Group Improves Fuel Efficiency of Fleet 40 percent of vehicles rated over 30 mpgDollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that it expects a significant improvement in the fuel efficiency of its fleet in 2010 based on its previously announced fleet diversification efforts. Over 40% of the Company's 2010... Midas Raises Ownership Limit for Certain Long-Term ShareholdersMidas, Inc. (NYSE: MDS) announced today that its board of directors has amended the company's existing rights agreement to allow certain long-term shareholders to increase their ownership of the company. IndustryWeek Magazine Names Snap-on Milwaukee Manufacturing Facility "Best Plant" FinalistIndustryWeek magazine has chosen Snap-on's Milwaukee hand tools manufacturing plant as one of the top 20 plants in North America. Dollar Thrifty Automotive Group Provides Fourth Quarter UpdateDollar Thrifty Automotive Group, Inc. (NYSE: DTG) today provided an update on its outlook for the fourth quarter and full year of 2009. The Company announced that it expects fourth quarter Corporate Adjusted EBITDA to be within a range of $10 million...
Meineke Franchisee Becomes the 1,500th Veteran to Buy a Business Under the VetFran ProgramVeterans Day for U.S. Army veteran Brian Gadson will be even more special this year. He's just signed up for a different tour of duty, becoming the 1,500th veteran to buy a franchise small business using discounts offered by the International Franchise... Dollar Thrifty Automotive Group Announces Exercise of Option to Purchase Additional SharesDollar Thrifty Automotive Group, Inc. (NYSE: DTG) announced today that the underwriters have exercised in full their option to purchase an additional 862,500 shares of common stock at a public offering price of $19.25 per share. Fiesta Auto Insurance Navigates the Streets of Franchising and Finds SuccessFiesta Auto Insurance has the policy entrepreneurs need to insure their financial future: a dynamic franchise investment with multiple revenue streams that serve the needs of millions of consumers in America. Snap-on Incorporated Declares Quarterly DividendThe Snap-on Incorporated (NYSE: SNA) board of directors declared today a quarterly common stock dividend of $0.30 per share payable December 7, 2009 to shareholders of record on November 16, 2009. Snap-on has paid consecutive quarterly cash dividends... Snap-on Incorporated Declares Quarterly DividendThe Snap-on Incorporated (NYSE: SNA) board of directors declared today a quarterly common stock dividend of $0.30 per share payable December 7, 2009 to shareholders of record on November 16, 2009. Snap-on has paid consecutive quarterly cash dividends...
Dollar Thrifty Automotive Group Completes Public Offering of Common StockDollar Thrifty Automotive Group, Inc. (NYSE: DTG) announced today that it has completed its previously announced public offering of 5,750,000 shares of its common stock at a price to the public of $19.25 per share. In connection with the offering, the... Snap-on to Present at Baird Industrial ConferenceSnap-on Incorporated (NYSE: SNA) will present at the Robert W. Baird & Co. 2009 Industrial Conference on Tuesday, November 10, 2009. The presentation is scheduled to begin at approximately 12:15 p.m. Eastern time (11:15 a.m. Central time). Midas Will Present at Gabelli ConferenceMidas, Inc. (NYSE: MDS) will present at the Gabelli & Company Automotive Aftermarket Symposium this week in Las Vegas. Snap-on Announces Third Quarter 2009 ResultsSnap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users, today announced operating results for the third quarter of 2009. Midas Reports Third Quarter EarningsMidas, Inc. (NYSE: MDS) reported net earnings of $1.4 million—or $0.10 per diluted share—for the third quarter ended Oct. 3, 2009. The 2009 results compare to net earnings of $1.7 million—or $0.12 per diluted share—in 2008. Dollar Thrifty Automotive Group Prices Common Stock OfferingDollar Thrifty Automotive Group, Inc. (NYSE: DTG) announced today that it has priced a public offering of 5,750,000 shares of its common stock at a price to the public of $19.25 per share. The underwriters will have a 30-day option to purchase up to an... Dollar Thrifty Automotive Group Reports Third Quarter Results and 2010 OutlookDollar Thrifty Automotive Group, Inc. (NYSE: DTG) today reported results for the third quarter ended September 30, 2009. Net income for the 2009 third quarter was $30.1 million, or $1.29 per diluted share, compared to net income of $18.9 million, or... See the Great Lakes on the Back of Your Favorite Motorcycle!EagleRider, the world's largest motorcycle rental and tour company, is pleased to announce the opening of two new EagleRider motorcycle rental outlets in Michigan -- Cement City and Tecumseh.
Snap-on Incorporated to Webcast 2009 Third Quarter Results Conference CallSnap-on Incorporated (NYSE:SNA) will release 2009 third-quarter results prior to the market open on Thursday, October 29, 2009. A conference call to discuss the results will be held at 10:00am ET on that day. The conference call, with accompanying... |
Features & Special ReportsIs it Time for an Operating Cost Audit?: Franchise Tenants Unite!When was the last time you challenged a landlord or property manager about the operating expenses or common area maintenance (CAM) charges? Probably not recently or never, right? To clarify, operating costs are the day-to-day management and maintenance expenses charged to the tenant; examples include asphalt repairs, snow removal, property insurance, and so on. Franchise tenants pay a proportionate share of these costs based on the space they occupy. Therefore, if a franchise tenant occupies 12 percent of a building, he or she will pay for 12 percent of the operating costs. Paying by this said ratio is the industry standard but, of course, there are deviations for special circumstances like free-standing buildings and so on. "Old School" Communication: Cell Phone Texting Builds Customer TrafficConsidering the wide-ranging abilities of today's smartphones, simple text messaging may seem passé, but it's a basic social media tool that's working wonders for Chris Kramolis' franchise operation. He's been using text messages to build business and compile a database of his customers--and he doesn't see any reason to deviate from something that's working. Discovering Oil: Multi-unit Operator Strikes it Rich with Oil Change FranchisesDarrell Lamb remembers toiling away in the heyday of the mid-90s stock market. He was always searching for new investors, and on the lookout for hot investments. One day some of his advisers told him about an opportunity - a chance to invest in the Express Oil Change franchise. He had reason to trust the advisers since they were his uncle, who was president of the company, and his dad, an Alabama optometrist who was always interested in investing in growing ventures. Capital AccessDustin Winkle was a victim of the dot-com crash a few years back. While pondering his next career move, he visited with family members who operated some dry cleaning stores. He liked what he heard and purchased his first Martinizing Dry Cleaners stores six hours away in Yakima, Wash. It was a long commute from his home in Boise, Idaho, but he loved the business. Three years later his family was ready to sell its dry cleaning stores and Winkle was more than happy to buy some units closer to home. Today he operates 10 Martinizing Dry Cleaning stores (and one non-Martinizing unit) in the Boise area. Multi-Tasking: What It Takes To Be A Successful Multi-Unit FranchiseeTwenty years ago, franchising meant buying the rights to and opening a single unit or business. But a changing trend has taken hold during the last two decades. Today, it's not uncommon for a single franchise operator to have 5, 6, or even dozens of units. FRANdata research notes the number of multi-unit operators now tops 34,000, and those operators control more than 155,000 franchised units in the U.S. It's a growth strategy that has proven effective but it should be approached with caution. Multi-unit operators are generally wired differently then their single-unit counterparts. Successful multi-unit operators are typically experienced, skilled, professional business executives who have chosen franchising as their business model. They possess the skills, training, capital, infrastructure, and vision to operate numerous units and have the ability to continue adding units to their portfolio--without stressing their organization or their stomach. Episode 006: The Benefits of a Franchise ModelFranchising provides benefits for both seller and buyer. For franchisors, the primary benefit is the ability to use other people's money to expand the brand more rapidly than they could either on their own or through investors or lenders. The initial franchise fee and ongoing royalties they collect allow franchisors to build their brand without sacrificing control to outsiders or the pressure of repaying lenders. Measure for Measure: Unit Economics Plays a Leading Role on Today's Economic StageThe most fundamental business strategy calls for black numbers on the bottom line. In simplest terms, it's proof the business is generating more cash than it is spending. All too often, though, entrepreneurs get involved in businesses without employing a proper system to help them keep a watchful eye on what they're earning and what they're spending. Managing day-to-day operations can be so time-consuming that it leaves little room for financial analysis. Or perhaps key individuals lack a basic understanding of how to read and interpret financial statements. Combine these factors with the down economy, and you'll likely wind up with a troubled business. Service Based Franchising: Where the Action IsLast week we ended our 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. Other examples of businesses built on services that customers could perform themselves but choose to pay someone else for include lawn and landscaping services, residential painting, oil change, and installation of home entertainment systems. Seven Steps to Fiscal Fitness: A "Fiscal Physical" Will Help Your Business Survive, Grow, and ProsperIn the few minutes it takes you to read this article, 40 businesses across the nation will fail--and that statistic was [i]before[/i] the economic downturn of the last 24 months. Tragic? Yes. Remarkable? Not at all. The road to business success is littered with the skeletons of companies whose owners--mostly brilliant and skilled individuals--failed to "take care of business" in the financial management of their enterprise. Service Based Franchising: What Franchisors WantWhen you first consider franchising as a business model, one of the choices that arises is which type of business, in which sector, suits you best. One basic choice is to make is goods or service; another is retail or home-based. In previous months, we've explored ways to find the sector, and the franchisor, most likely to give you the best chance of success. More recently, in the previous four weeks, we've discussed the attributes franchisors look for in franchise candidates in the retail sector and in the home-based sector. Here we apply the same lens to the services sector. Let's begin with the similarities. All franchisors want candidates who follow the system, pay royalties on time, possess marketing skills and savvy, know how to run a business, show leadership and growth potential, are good communicators, and are expansion-minded, community-oriented, and willing to give back to the system. Franchisors look for these skills whether you choose a service, retail, B2B, or other concept.
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