March 11, 2010
Topics:Industries:
|
Your Fitness Franchise Personnel News SourceFranchise News Watch brings you the latest in fitness franchising personnel news from around the web. As a news aggregator for the fitness franchise industry, Franchise News Watch streams the latest ground breaking franchise articles, features, guides, blogs, news and more directly to your desktop.  Fitness Franchise Personnel NewsGold's Gym Announces a Pair of Promotions in Franchise Development DepartmentGold's Gym announced today the promotion of Chris Finch to Senior Director of International Franchising and Paul Summers to Senior Director of U.S. Franchising for Gold's Gym. The promotions are reflective of their high performance and business... GNC Names Robert M. Kral as Senior Vice President of MerchandisingGeneral Nutrition Centers, Inc. today announced the appointment of Robert M. Kral as Senior Vice President of Merchandising. In that position, he will report directly to Beth Kaplan, President and Chief Merchandising and Marketing Officer. Retrofitness Strengthens Executive Team with Leaders from the Business IndustryRetrofitness, a unique 1980's-themed gym chain, is pumping up its executive team as Eric Casaburi, founder and CEO, announced today the hire of two key executives, Robert Sprechman and Richard Roser. Both have been brought on to lead the company's... Personal Fitness Training & Nutrition Franchise: Cracking the Codes on Fitness & FranchisingPersonal Training Institute (PTI), a unique fitness concept that provides personal fitness training and nutrition consultation to every client has moved slowly into franchising since its inception in 2000. GNC Names Michael M. Nuzzo as Executive Vice President and Chief Financial OfficerGeneral Nutrition Centers, Inc., the largest global specialty retailer of nutritional supplements, today announced that it has named Michael M. Nuzzo, as Executive Vice President and Chief Financial Officer. In that role, he will report directly to Joe... Fitness Together Announces Executive PromotionsFitness Together Holdings, Inc. (FTHI), the world's largest wellness organization, recently announced the following promotions and organizational changes to better support the expanding franchise network. Gold'S Gym Strengthens International Expansion Efforts With New Director Of Franchise Development For Asia-Pacific RegionGold's Gym, the most recognized name in fitness, announced today that Marc R. Eisman has joined the company as Director of Franchise Development and Support, Asia-Pacific. Pump It Up Expands Management Team Following Merger with BounceUPump It Up, the nation's largest franchise of interactive, indoor inflatable playgrounds for private parties, announced today that it has added two highly experienced franchising executives to its management team, including a Vice President of... i9 Sports Adds Key Positions To Support Franchise GrowthAt a time when corporate downsizing is the trend, i9 Sports(R) announces the addition of several members to its staff to support the rapid growth in the number of franchises nationwide... Max Muscle Sports Nutrition Names Mick Riddiough Senior Vice President of Worldwide DevelopmentMax Muscle Sports Nutrition, the nation's premier franchise in sports nutrition, weight loss and fitness, announces the appointment of Mick Riddiough as Senior Vice President of Worldwide Development.
Athletic Republic performance sports training names Tanya Porter Vice-PresidentAthletic Republic Chief Science and Technology Officer Steve Swanson announced today the appointment of Tanya Porter as Vice-President of Training and Technology. Athletic Republic Names Tad O'Had Vice-President of HockeyAthletic Republic CEO Charlie Graves today announced the appointment of Tad O'Had as Vice-President of Hockey. Gold's Gym International Names Mike Feinman Chief Operating OfficerGold's Gym International (GGI), the largest co-ed gym chain in the world and most recognized name in fitness, announced today that it has hired Mike Feinman to serve as Chief Operating Officer. Athletic Republic Builds All-Star Management TeamAthletic Republic CEO Charlie Graves has been busy building his management team, making the following recent appointments: Kevin Barker, Vice President of Sales; Tricia Kobos, Vice President of Operations; Trajan King, Vice President of Finance... The Little Gym International Names Dickison VP of Marketing and Brand ManagementPaul Dickison, an Orange Park, Fla.-based franchisee of The Little Gym International (TLGI), has been appointed Vice President of Marketing and Brand Management for the international chain of gyms, reporting to Senior Vice President of Franchise... JumpBunch Hires New Chief Operating OfficerJumpBunch, Inc., a provider of sports and fitness programs for young children, has hired Heather Wheelock as Chief Operating Officer, effective January 2, 2008. Fitness Together Names New Corporate PresidentFitness Together Franchise Corp. (FTFC), the world leader in wellness, who recently sold their 500th personal training franchise, has named Kevin Betts as its new president. New CEO at Contours Express Sees Tremendous Growth Potential for Fitness BusinessContours Express, a women's circuit training gym franchise second only to Curves International, welcome's their new CEO, Jose I. Perez, Jr. Mr. Perez enters his new position with plans to educate consumers on the difference between weight-bearing... |
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.
|
