http://www.franchisenewswatch.com/?ref=rss Franchise News Watch is a news aggregator for the franchise industry. Listing articles, news, features, whitepapers, and more from around the web. en-us benjaminf@franchiseupdatemedia.com (Franchise Update) Thu, 11 Mar 2010 12:12:29 PST Copyright 2010 Franchise Update Media Group. All rights reserved. http://www.franchisenewswatch.com/images/rss_logo.gif http://www.franchisenewswatch.com/?ref=rss 186 40 http://www.mufranchisee.com/article/1035/ 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. http://www.mufranchisee.com/article/1035/ Thu, 11 Mar 2010 12:00:00 PST http://www.mufranchisee.com/article/1034/ Considering the wide-ranging abilities of today's smartphones, simple text messaging may seem passandeacute;, 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. http://www.mufranchisee.com/article/1034/ Thu, 11 Mar 2010 10:00:00 PST http://www.mufranchisee.com/article/1033/ Darrell 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. http://www.mufranchisee.com/article/1033/ Thu, 11 Mar 2010 08:00:00 PST http://www.mufranchisee.com/article/1032/ Dustin 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. http://www.mufranchisee.com/article/1032/ Thu, 11 Mar 2010 06:00:00 PST http://www.franchising.com/articles/1031/ Twenty 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. http://www.franchising.com/articles/1031/ Wed, 10 Mar 2010 09:30:00 PST http://www.franchising.com/articles/1020/ Franchising 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. http://www.franchising.com/articles/1020/ Mon, 08 Mar 2010 11:00:00 PST http://www.mufranchisee.com/article/952/ The 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. http://www.mufranchisee.com/article/952/ Mon, 08 Mar 2010 08:00:00 PST http://www.franchising.com/articles/1009/ Last 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. http://www.franchising.com/articles/1009/ Wed, 03 Mar 2010 10:00:00 PST http://www.mufranchisee.com/article/950/ In 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. http://www.mufranchisee.com/article/950/ Mon, 01 Mar 2010 08:00:00 PST http://www.franchising.com/articles/1008/ When 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. http://www.franchising.com/articles/1008/ Thu, 25 Feb 2010 11:30:00 PST http://www.franchise-update.com/article/1007/ The south-of-the-border spirit of great Mexican food and authentic art could soon spread throughout New England and beyond, thanks to a new franchising and area development agreement rolled out by Margaritas Mexican Restaurant. http://www.franchise-update.com/article/1007/ Wed, 24 Feb 2010 12:00:00 PST http://www.franchise-update.com/article/1006/ 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. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities. http://www.franchise-update.com/article/1006/ Wed, 24 Feb 2010 10:00:00 PST http://www.franchise-update.com/article/1005/ This last installment of a three-part series provides quick tips for greater success at the show, and the final ingredient for making the most of your trade show spend: what to do after you get back to the office to increase your franchise sales. http://www.franchise-update.com/article/1005/ Wed, 24 Feb 2010 08:00:00 PST http://www.franchise-update.com/article/1004/ There are three essential areas of focus in a successful business: operations, sales, and financials. For the purpose of this discussion, let's assume you have a well-run operation and are doing as good a job as possible to maintain or increase sales. For most businesses, the easiest and most fun parts of the business are running it and having lots of happy and repeat customers. http://www.franchise-update.com/article/1004/ Wed, 24 Feb 2010 06:00:00 PST http://www.franchising.com/articles/1003/ Franchising is a business model that combines the best aspects of sole proprietorship and Corporate America. http://www.franchising.com/articles/1003/ Mon, 22 Feb 2010 14:00:00 PST http://www.mufranchisee.com/article/948/ The difficult consumer business environment has made the economics of new unit expansion more challenging. This makes "getting to yes" with bankers more difficult because the economics do not have as healthy a margin for error as they did in more robust times. As a consequence, capital access will continue to be the most constraining factor as we look at the next few years. Financing new units is relatively more challenging in general, and in this economy that is particularly true. http://www.mufranchisee.com/article/948/ Mon, 22 Feb 2010 08:00:00 PST http://www.franchising.com/articles/1002/ As we examined last time, home-based franchising can be a great business model, but it's not for everyone. Working from home takes an organized self-starter who can get the job done despite what's going on around them. But for those who are self-motivated, can multi-task, and can balance working and living in their home, the benefits of a home-based franchise can add up to big success. The choices for home-based franchising are varied and wide - and seemingly growing more by the week. These days there are all kinds of home-based franchise opportunities. Just a few examples include home decorating, home repair, home cleaning, healthcare, as well as a number of pet services. Most of these home-based franchises typically require a lower investment and often offer a more specialized service than their retail and commercial kin. http://www.franchising.com/articles/1002/ Wed, 17 Feb 2010 10:00:00 PST http://www.mufranchisee.com/article/947/ Kevin Archer has spent 18 years as a multi-unit franchisee with Bojangles' Restaurants in North Carolina. The Charlotte native knows how much Southerners love their chicken and biscuits. So does he: his favorite menu item is the Cajun fillet biscuit. Archer also believes "You are what you eat and drink." As a proponent of a healthy diet and lots of exercise, he sees no conflict between his philosophy and his business. Even in today's increasingly health-conscious culture, he still sees Bojangles' as relevant and popular. http://www.mufranchisee.com/article/947/ Tue, 16 Feb 2010 08:00:00 PST http://www.mufranchisee.com/article/992/ 2009 continued to be a year in which courts found that by providing earnings information in an Item 19 franchisors were able to prevail in cases in which the franchisee asserted claims for fraud surrounding alleged misleading earnings claims. Due to the length of time it takes a case to arise and percolate through the court system, each of these cases involves franchisees who received disclosure under the prior UFOC Guidelines. However, as the cases all relate to a franchisee's ability to rely on the earnings information there is no reason to believe the result would differ under the FDD format. http://www.mufranchisee.com/article/992/ Sun, 14 Feb 2010 08:00:00 PST http://www.mufranchisee.com/article/999/ Gaining access to and securing capital is more important for franchisees today than ever. Every week we talk with multi-unit franchisees about how they are growing and the kind of financing it takes for them to achieve their goals and objectives. It's an important topic and sometimes we get some very candid responses. http://www.mufranchisee.com/article/999/ Wed, 10 Feb 2010 11:00:00 PST http://www.mufranchisee.com/article/1001/ Multi-Unit Franchisee Magazine today announced the call for entries for the first annual Multi-Unit Franchisee MVP (Most Valuable Player) Awards to recognize exceptional multi-unit franchisees. The deadline for entry is Feb. 26th . Winners will be announced on March 25th at the Multi-Unit Franchising Conference in Las Vegas. Franchise Update Media Group (FUMG), the leading industry resource for franchise development, is the publisher of the magazine and the conference organizer. http://www.mufranchisee.com/article/1001/ Wed, 10 Feb 2010 10:25:00 PST http://www.mufranchisee.com/article/998/ After graduating from the University of Pennsylvania and Loyola Law School in Los Angeles, Danny Sonenshine quickly found himself working as a litigator and transactional attorney at major firms in Orange County. http://www.mufranchisee.com/article/998/ Wed, 10 Feb 2010 10:00:00 PST http://www.mufranchisee.com/article/997/ Social media has reached a fevered pitch in most places, but as a marketing tool it has many unique functional features and almost endless possibilities. http://www.mufranchisee.com/article/997/ Wed, 10 Feb 2010 09:00:00 PST http://www.franchising.com/articles/1000/ Working from home. It sounds like a great idea to many people. A home-based business removes the need for a long and often frustrating commute through daily rush hour traffic. It can offer flexibility in your schedule like never before. No corporate red tape or office politics to bother with. You can exercise and workout from your home because the "office" is just in the next room. The list of positive attributes could go on. What's more, today there are literally dozens of home-based franchising opportunities for you to explore - depending on your interests, skills, and abilities. As if all of that were not enough, the initial investment for a home-based franchise is usually significantly lower than, say, a retail franchise that requires leasing space and purchasing expensive equipment and supplies. http://www.franchising.com/articles/1000/ Wed, 10 Feb 2010 09:00:00 PST http://www.franchising.com/articles/993/ Consumers have an infinite number of ways and places to talk about your brand. Social media platforms such as Facebook, LinkedIn, Twitter, online blogs, podcasts and YouTube are fundamentally changing the way we work and interact with each other, with an increasing blurring of business, commercial, social and personal communications. As a result, these social media platforms can provide beneficial (and inexpensive) ways for franchisors and franchisees to market and promote their products and services. http://www.franchising.com/articles/993/ Wed, 10 Feb 2010 08:00:00 PST