March 11, 2010
Topics:Industries:
|
Your Franchise News SourceFranchise News Watch brings you the latest in franchising news from around the web. As a news aggregator for the franchise industry, Franchise News Watch streams the latest ground breaking franchise articles, features, guides, blogs, news and more directly to your desktop.  Franchise NewsHonest-1 Auto Care Extends Commitment to Environment To Raise Grand Total of Planted Trees to 100,000Honest-1 Auto Care, the only national full-service auto repair and maintenance franchise that is 100 percent ESA™ Certified Eco-Friendly, announced today that it will fund the planting of an additional 60,000 trees during the coming year, adding to Stepping Up!Merely two years after launching its franchise program, Flip Flop Shops is continuing to expose its toes and "flip-ping out" about the signing of its 50th franchise agreement. At Maggiano's - it's Double the Flavor, not Double the PriceMamma Mia! Maggiano's Little Italy(R) introduces their "Menu For Two" - a fixed-price, chef-inspired, three-course menu all for just $40. Available now at participating nationwide locations, Maggiano's invites guests to select from a list of signature... Domino's Pizza Opens 9,000th StoreDomino's Pizza (NYSE: DPZ), the recognized world leader in pizza delivery, added to that distinction today by opening its 9,000th store. To celebrate, the company conducted symbolic opening events at two stores, a world apart: the first in... Games2U Entertainment Reaches 100th Franchise MilestoneNational party franchise Games2U Entertainment announced this week the signing of their 100th franchise in Naples, FL. Bruegger' s Launches New Sandwich Combinations and "Baker's Choice" PairingsBruegger's Bagels has always served wholesome, authentic and freshly baked breads and bagels. With spring on its way, the bakery chain will add even more freshness to its menu. El Pollo Loco Debuts Grilled Carne Asada Steak Tostada SaladJust two months after announcing its m-o-o-v-e to add citrus-marinated, flame-grilled Sirloin steak to its menu, El Pollo Loco is expanding its steak line-up with a tasty, new limited time addition-- the Grilled Carne Asada Steak Tostada Salad.
Beef 'O' Brady's Doubles Hospitality by Checking Into Hotel LocationsWhen Beef 'O' Brady's held their annual convention at the TradeWinds Island Grand in 2008, President Nick Vojnovic had an incredible idea; Beef 'O' Brady's locations in hotels.
Jiffy 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...
Burger King Holdings, Inc. to Present at the Morgan Stanley Retail Field TripBurger King Holdings, Inc. (NYSE:BKC) announced today that the company will participate in the Morgan Stanley Retail Field Trip on Tuesday, March 16, 2010, at the Four Seasons Dallas at Las Colinas, 4150 North MacArthur Boulevard, Irving, TX beginning... Cartridge World Achieves Growth Milestones for 2009As most retailers were feeling the strain of the recession in 2009, Cartridge World, the world's largest dedicated retailer of refilled ink and toner printer cartridges, has experienced record-setting growth announcing incredible same store sales...
On the Menu in Washington -- Jobs, Immigration, Employee Choice and Health CareOn most days franchise owners of IHOP Restaurants and Applebee's Bar & Grill can be found in restaurants across the nation taking care of guests. On Wednesday they will gather, along with employees of DineEquity, Inc., the brands' parent company, in.. Wyndham Vacation Ownership Executes First Fee-For-Service Timeshare Sales Model at Myrtle Beach, SC PropertyWyndham Vacation Ownership, a member of the Wyndham Worldwide family of companies (NYSE:WYN), today announced it has entered into an exclusive sales and marketing agreement with Towers on the Grove, LLC. Under this agreement, Wyndham Vacation Ownership... Saladworks Names Newest Seasonal Salads After Its FansSaladworks, the nation's first and largest fresh-tossed salad franchise concept, announces today the winners of its "Create-Your-Own Powerhouse Salad" Contest. The contest asked Saladworks fans to submit their own Powerhouse Salad creation based on... Jackson Hewitt(R) Offers 25% Savings on Company's New Online Tax Preparation ServiceJackson Hewitt Tax Service(R) announces a 25% discount* off the cost of its new online tax preparation product, Jackson Hewitt(R) Online. The discount offer begins today and runs through April 15, 2010. The 25% discount applies to...
Faegre & Benson Successfully Defends Jury Verdict for Seagate in Patent AppealFaegre & Benson LLP has successfully represented Seagate in a patent appeal, resolved yesterday when the U.S. Court of Appeals for the Federal Circuit affirmed a California jury's verdict that Siemens' patent asserted against Seagate's hard disc drive Zpizza Grabs Peta2 Awardzpizza, the fast casual pizza chain, has won the Libby Award for Most Vegan-Friendly Restaurant Chain from peta2, the world's largest youth animal rights organization. The fourth annual Libby Awards... Century 21 Real Estate LLC Selects New Marketing AgenciesCentury 21 Real Estate LLC, the franchisor of the world's largest residential real estate sales organization, is pleased to announce MRM Worldwide as the lead agency for national advertising and Mullen as the lead agency for the brand's... Countrywide Acquires UK Franchise for Sotheby's International Realty BrandSotheby's International Realty Affiliates LLC today announced the signing of an exclusive 25-year licensing agreement for the United Kingdom with Countrywide, the U.K.'s largest estate agency and property services group. Red Lion Hotels Appoints Richard Carlson Head of Lodging DevelopmentRed Lion Hotels Corporation (NYSE: RLH) announced the appointment of Richard P. Carlson as Vice President – Lodging Development. The newly created position is central to the company's plan for franchise growth in 2010 and beyond. Carlson will lead.. Keller Williams Realty Welcomes Top Producing Southern Arizona Real Estate Brokerage to its RanksKeller Williams(R) Realty Inc. announced today the launch of Keller Williams Southern Arizona. The new operation, formerly with Realty Executives(R), includes seven offices, with more than 375 top-producing real estate agents and staff. Play N Trade Franchisees Continue to See Sales Increases Into 2010Play N Trade Franchise, Inc., the fastest growing video game franchise worldwide, today announced that for the month of February, 2010 their same store sales were up 1% compared to February, 2009. While average store revenue was up 12%, driven by the... Sonic to Present at the Bank of America Merrill Lynch 2010 Consumer ConferenceSonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that the company will be participating in and presenting at the Bank of America Merrill Lynch 2010 Consumer Conference, which takes place in New York City. The 2010 BK(R) NEXT BEST MOVE(SM) National Tour Hits Columbia on March 20Burger King Corp. (NYSE: BKC) brings its first-ever BK(R) NEXT BEST MOVE(SM) national mobile tour to the Columbia area on March 20, 2010, to find "game-changers" both on the basketball court and in the community. Local ballers can show off their best... Gap Inc. Chairman And Ceo Glenn Murphy To Present At Investor Conference On March 11Gap Inc. (NYSE: GPS) today announced that Glenn Murphy, chairman and chief executive officer of the company, will give a presentation to investors at the Bank of America Conference in New York City on March 11. Mr. Murphy will provide an overview of... Nestlé launches Jenny Craig's weight management programme in FranceNestlé today announced the launch of its Jenny Craig weight management programme in France. Jenny Craig, the personalised programme for weight loss and long-term weight maintenance, combines its ready-made meals with individual consultation. CareersUSA(R) Princeton's Melissa Tenzer Named Vice Chair of the Princeton Regional Chamber of CommerceThe Princeton Regional Chamnber of Commerce has recognized CareersUSA Princeton's Melissa Tenzer, who is approaching her ninth year in business as the owner of her temporary and permanent staffing agency, as a key chamber member.
Liberty Tax Urges Taxpayers to Act Now to File 2006 Tax Returns and Claim Refunds DueAre you one of approximately 1.4 million people to whom the IRS owes refund money from tax year 2006? There's more than $1.3 billion outstanding, with the median amount owed averaging about $600. Liberty Tax Service urges taxpayers who can claim... Fire Safety Tips for Dog OwnersYour pets are treasured family members and need protection as much as your own family in the event of fire. Sadly, some 500,000 pets are affected by fires each year, and over 40,000 of them die. Most fire victims die from smoke asphyxiation. A fire... General Nutrition Centers, Inc. to Present at the Goldman Sachs Consumer/Retail High Yield ConferenceGeneral Nutrition Centers, Inc. ("GNC" or the "Company"), a leading global specialty retailer of nutritional products, today announced that Joe Fortunato, the Company's Chief Executive Officer and Mike Nuzzo, the Company's Chief Financial Officer, will... Sears Helps Washington Residents Access up to $100 in Rebates on ENERGY STAR(R)-Qualified AppliancesThe Sears Blue Appliance Crew(TM) is helping Washington State residents access the $6,284,000 in rebates available for ENERGY STAR?-qualified appliances starting on March 15, as part of the state's "Cash for Appliances" mail-in rebate program. Crave It, Click It, Come In and Get It From Chili'sWhether planning for hectic family schedules, middle of the day meetings or simply not wanting to cook dinner, finding a simple and quick solution to meal planning just got easier. From your fingertips straight to Chili's(R) Grill & Bar kitchens, gues Choice Hotels International Announces New Cambria Suites Hotel in Fort LauderdaleChoice Hotels International, Inc. (NYSE: CHH) today announced that the Cambria Suites hotel in Fort Lauderdale/Dania Beach, Fla. has opened. Cambria Suites hotels are designed for guests who want to take their lifestyle with them when traveling, and... Ruby Tuesday, Inc. Reports Continued Sales ImprovementRuby Tuesday, Inc. (NYSE: RT) today announced that same-restaurant sales for Company-owned restaurants were -0.8% to -1.0% in the third quarter ended March 2, 2010, compared to the same quarter of the prior year. Severe weather during the quarter is... Beef 'O' Brady's Bowl St. Petersburg Debuts New LogoThe Beef 'O' Brady's Bowl St. Petersburg and ESPN Regional Television introduced a bright new logo today, incorporating a recently updated Beef 'O' Brady's logo in the bowl game's new look. Beef 'O' Brady's was named the St. Petersburg Bowl presenting... Domino's(R) Partners with the National Fire Protection Association to Deliver Fire Safety MessageSpring is right around the corner and Domino's Pizza(R) (NYSE: DPZ), the recognized world leader in pizza delivery, announced today its spring fire safety campaign to encourage customers to focus on safety in the home -- especially in the kitchen. Fatburger Launches Second Location In Dubai, Delivering Its Signature American Fare To Locals And Visitors AlikeFog Cutter Capital Group Inc.'s (OTCBB: FCCG) Fatburger restaurant unit this week announced its latest Middle East launch scheduled for mid-March in Dubai, marking the popular American restaurant chain's second location in the cosmopolitan city. First Gamer Doc(R) Video Games Store in Delaware Celebrates First AnniversaryGamer Doc(R), the retail video game store franchise that delivers a new and interactive customer experience, announces the one-year anniversary of its first store in Delaware, located at 1132 Pulaski Highway in Bear. Store owner and manager Steve... New Card Connection Franchisee Brings Retail Experience to the Dorset & Bournemouth RegionLeading greeting card publisher and franchisor, Card Connection, has today announced that it has recruited a new franchisee for the Bournemouth and Dorset area. Andy Burchell takes over around 130 retail accounts and will now deliver and merchandise... The 2010 BK(R) NEXT BEST MOVE(SM) National Tour Hits Charleston on March 17Burger King Corp. (NYSE: BKC) brings its first-ever BK(R) NEXT BEST MOVE(SM) national mobile tour to the Charleston area on March 17, 2010, to find "game-changers" both on the basketball court and in the community. Local ballers can show off their... |
Features & Special ReportsMeasuring Performance: Multi-unit Franchisees Utilize Unit Economics to Help Run a Tighter ShipMulti-unit franchisee Todd Pulley knows all about measuring unit performance and profitability - even though he had no prior financial background before becoming a franchisee. Over the last 15 years though, he has developed and refined his own system for measuring his unit economics at his four PuroClean locations in New Jersey and Delaware. The effort is paying off. Is 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.
|
