March 11, 2010
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Your Franchise Business Expansion News SourceFranchise News Watch brings you the latest in franchising business expansion 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 Business Expansion NewsStepping 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. 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.
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. The First 1-800-GOT-MOLD? Franchisee Sees a Real Opportunity to Earn an Excellent Income While Helping People Heal Their HomesJeremy Sparks joined his father in the construction business right after high school, later forming his own company. After years of success in the business, in 2009 he began to feel the economic slowdown. It was harder to find new customers, and the... NexCen Brands Announces Development Agreement to Further Expand Its Franchised Brands in the Middle EastNexCen Brands, Inc. (PINK SHEETS: NEXC.PK) today announced that the Company has signed an agreement with existing master developer, DRH Group Inc. BVI, for the development of four Marble Slab Creamery stores in Egypt, a new market for NexCen's... Better Homes and Gardens Real Estate Expands Reach to South Florida with Addition of Florida 1stBetter Homes and Gardens Real Estate LLC today announced the addition of Florida 1st, a leading Ft. Lauderdale-based real estate brokerage, to its growing national franchise network. Florida 1st will now operate as Better Homes and Gardens Real Estate...
The Herman Group Joins ERA Real Estate NetworkERA Franchise Systems LLC, a global franchising leader in the residential real estate industry, today announced it has entered the Denver market and continued its domestic franchise growth in Colorado and Florida. The Herman Group, a leading real... Seattle Real Estate Firm Joins Sotheby's International Realty NetworkSotheby's International Realty Affiliates LLC today announced that Realogics Brokerage, LLC, in Seattle is the newest member of its luxury real estate network. Former Manhattan CEO Signs with Elevation BurgerElevation Burger, a Northern Virginia based chain known for its tasty Organic burgers and patented fresh cut fries cooked in olive oil has added another multi-unit franchising deal to New York and also the first franchisee for Connecticut with... Salsarita's Fresh Cantina Launches North Carolina Expansion PlanSalsarita's Fresh Cantina, one of the nation's fastest growing, fast-casual Mexican restaurant chains, is continuing to expand its national footprint with today's announcement it is launching an aggressive expansion plan in North Carolina and the... Nationally Recognized Restaurant Naples Tomato Awards First Franchise License, in Stamford/Greenwich, ConnecticutNaples Tomato Franchising, LLC today announced that it has awarded its first restaurant franchise license to EWINE, LLC of Southington, Connecticut, for the Stamford/Greenwich, Connecticut area. Naples Tomato is an award-winning restaurant concept that... 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. Sotheby's International Realty Brand Expands Network Presence in the CaribbeanSotheby's International Realty Affiliates LLC today announced that British Virgin Islands Sotheby's International Realty in Tortola, British Virgin Islands, has joined its luxury real estate network. Freshii Coming To San FranciscoWhen Wendy Kanno-Hendryx and her husband Mark sold their Chicago company to a Fortune 500 firm and decided to retire to in Marin County to be near Wendy's family, she knew she still had the entrepreneurial itch. Her love of fitness and the outdoors... Houston's Massage Heights Opens Its 12th Location in WeslayanWeslayan Massage Heights in Houston opens its doors in time for the most romantic day of the year -- Valentine's Day. Massage Heights Houston opened its 12th Houston massage spa location on Friday, February 5th, 2010 in the Weslayan area of Houston. La Salsa Touches Down in HoustonLa Salsa Fresh Mexican Grill, the fast-casual fresh Mexican chain, is excited to announce the opening of its 1st Houston restaurant, located inside Terminal C South, at the George Bush International Airport. Designed with an exciting multicolored... Home of the Original Hamburger Escapes to ParadiseVacationers and locals of Cancun can now enjoy Johnny Rockets' all-American hamburgers, shakes and American Fries at the city's premier shopping center, Malecon Americas. Johnny Rockets' newest Cancun location is the fourth restaurant opened in... Organic Burger Chain Signs First Overseas Franchise DealElevation Burger, the wildly successful Northern Virginia based chain known for its tasty organic burgers and patented fresh cut fries cooked in olive oil has signed a multi-unit franchising deal with investment banker, businessman, entrepreneur... NexCen Brands Announces Opening of First MaggieMoo's(R) Store in AsiaNexCen Brands, Inc. (PINK SHEETS: NEXC.PK) today announced the opening of the first MaggieMoo's® franchised store in Asia. The store opened at 313 Somerset Mall in Singapore under an existing master franchise agreement with Thirtythree Private Limited New Fantastic Sams Franchisees Are Seeing 20/20 in 2010!In this struggling economy and tight credit market, Fantastic Sams is making a radical change by offering some sizable incentives for new business owners located in the Rocky Mountain Region. For a limited time, new Fantastic Sams franchisees have the... Fort Myers Resident Opens College Hunks Hauling Junk FranchiseFort Myers resident Douglas Stewart just traded in more than two decades as a corporate executive with a coat-and-tie past for a much bigger business: hauling junk. And this time, Stewart gets to be his own boss. Great Clips Opens Hair Salon Franchise in Hazard, KYRob Goggins, vice president of franchise development for Great Clips, Inc., announced the Grand Opening of the company's newest salon business in the Hazard Village Shopping Center in Hazard, KY. 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.
Rob Ponnwitz Opens Portland Regional Office for Vanguard Cleaning Systems, Inc.Vanguard Cleaning Systems, Inc., a leading commercial cleaning franchisor, continues to expand its growth in the United States by awarding the rights of the Portland, Oregon Master Franchise to Rob Ponnwitz. Rob Ponnwitz joins Vanguard after an... Coldwell Banker Commercial Gains Presence in Manhattan; Adds Hunter Phoenix as Newest Member of its International OrganizationColdwell Banker Commercial Affiliates, a leading commercial real estate franchise organization, today announced that Manhattan-based commercial brokerage firm The Hunter Realty Organization, LLC and Phoenix Asset Management have formed an alliance... California Pizza Kitchen Opens at Stony Brook UniversityCalifornia Pizza Kitchen, Inc. (CPK) (NASDAQ:CPKI), home to the Original BBQ Chicken Pizza and other innovative hearth-baked pizzas, made-to-order pastas, creative salads, appetizers, soups, sandwiches and desserts, opened on the campus of Stony Brook...
Cold Stone Creamery and Great Steak Sail into Naval Station NorfolkKahala, parent company of Cold Stone Creamery and Great Steak, today announced the grand opening of their restaurants at Naval Station Norfolk, the world's largest naval base. The latest restaurant openings are a continuation of a long-standing... Yoshinoya Expands U.S. Restaurant Chain, Opening 99th Location in EscondidoYoshinoya, a leading global quick-service restaurant chain, announced today it will open its 99th U.S.-based restaurant on January 23rd, 2010 in Escondido, Calif. The Escondido site joins Yoshinoya restaurants in Kearny Mesa and Chula Vista as the... Five Star Painting Expands Into Columbia, South Carolina with a New FranchiseFive Star Painting, the world's fastest-growing painting franchise company, is happy to announce a new member of their team, Tony Casey. He recently purchased a new franchise in Columbia, South Carolina. Casey, who lives in the Columbia area, is... Newest WHOPPER(TM) Bar Restaurant Opens Its Doors in the Heart of Miami's South BeachBurger King Corp. (NYSE:BKC) today announced the opening of the WHOPPER(TM) Bar in the heart of Miami's South Beach, marking the next stage of the WHOPPER(TM) Bar's premium, customizable restaurant experience. The new location will open its doors next... First BURGER KING(R) Restaurant Opens in RussiaBurger King Corp. (NYSE:BKC) today announced a new market entry with the opening of the first BURGER KING(R) restaurant in Moscow, Russia. This restaurant opening is part of the company's expansion strategy in the Europe, Middle East and Africa (EMEA)... Great Clips Opens Hair Salon Franchise in Sarasota, FloridaRob Goggins, vice president of franchise development for Great Clips, Inc., announced the Grand Opening of the company's newest salon business in the Centergate Plaza Shopping Center in Sarasota, Florida. Einstein Bros.(R) Bagels Licensing Has Record 2009 and Plans Another Banner Year in 2010The autumn harvest months of the fourth quarter turned up a rich crop of newly opened licensed locations for Einstein Bros. Bagels as it continues to nourish consumers and food service groups alike with the three elements that distinguish the brand as... Doubletree by Hilton Arrives in TurkeyHilton Worldwide today announced the signing of two franchise agreements for Doubletree by Hilton hotels in Turkey. One of the new hotels will be located in Istanbul and a second in Cappadocia and are anticipated to open in mid 2010. Freshii Signs Master Franchise Deal For Orange County, CaBusiness professional Souhel Stephan Tarakji has signed a master franchise deal to open over 30 Freshii restaurants in Orange County, California over the next six years. The fast casual Freshii is known for its modern, hip vibe and convenient, healthy...
Farmer Boys Invite the Community to its Grand Opening in Riverbank!The local Riverbank area communities now have another family-friendly, farm fresh choice in their neighborhood. Farmer Boys Restaurants are inviting the community to come and celebrate the Grand Opening of their newest location at... First Wyndham Brand Hotel In The Netherlands Opens In AmsterdamWyndham Hotel Group, the world's largest hotel company with more than 7,000 hotels and 11 brands, today announced that the Apollo Hotel Amsterdam, an iconic, 223-room hotel with a 50-year history of serving visitors, has joined the upscale Wyndham Hotels
Johnny Rockets Sports Lounge Touches Down In ManhattanJohnny Rockets, Home of the Original Hamburger, announces the launch of its newest concept, Johnny Rockets Sports Lounge, adding a definitive American sports bar to their classic restaurant theme. The new, two-story prototype is located on the... Great Clips Franchise Records 92 New Owners In 2009Great Clips, Inc., North America's largest single-brand hair salon franchise, welcomed 92 new franchise owners into its franchise system for 2009. California Pizza Kitchen Expands Middle East Franchise DealCalifornia Pizza Kitchen, Inc. (Nasdaq:CPKI) (CPK), home of the Original BBQ Chicken Pizza and other innovative hearth-baked pizzas, made-to-order pastas, creative salads, appetizers, soups, sandwiches and desserts, today announced the expansion of... Crowne Plaza Hotel Opens in Jacksonville, FloridaIHG (InterContinental Hotels Group) [LON: IHG, NYSE:IHG (ADRs)], the world's largest hotel group by number of rooms, today announced that the Crowne Plaza Jacksonville Airport has opened after undergoing a recent renovation. The 317-room property is... Crowne Plaza Hotel Opens in Jacksonville, FloridaIHG (InterContinental Hotels Group) [LON: IHG, NYSE:IHG (ADRs)], the world's largest hotel group by number of rooms, today announced that the Crowne Plaza Jacksonville Airport has opened after undergoing a recent renovation. The 317-room property is... |
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.
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