March 11, 2010
Topics:Industries:
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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 NewsCentury 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...
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...
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.
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... Franchisee Turned Franchisor Reinvents Mama Fu'sBusiness has been 'sizzling' at Mama Fu's since Murphy Adams Restaurant Group purchased the Pan-Asian concept from Raving Brands nearly two years ago. Complete with a new prototype, retooled menu and an innovative "flex-casual" service model, Mama Fu's...
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... 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. Holiday Inn in the Walt Disney World Resort OpensHoliday Inn, the most widely recognized and family-friendly hotel brand in the world, will open on Disney property today. The 14-story, 323-room hotel, located on Orlando's Hotel Plaza Boulevard, is the latest property as part of the $1 billion... 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.
Batteries Plus Educates Facilities Managers, Increases Battery Buying PowerBatteries Plus, the nation's largest retail battery franchise serving both retail and business customers, has developed a B2B partnership program to assist facilities management operators with its battery buying power, battery education, and battery... 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... 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. Jackson Hewitt(R) Four Corner Office Asks: Want a Tax Refund Fast?The Four Corners office of Jackson Hewitt Tax Service(R), encourages tax payers to file early this tax season, especially if they are expecting an income tax refund. On January 15, 2010 the IRS had its season launch of IRS e-file, allowing tax... 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. Games2U Entertainment Reaches 100th Franchise MilestoneNational party franchise Games2U Entertainment announced this week the signing of their 100th franchise in Naples, FL. Sotheby's International Realty Brand Honored by Franchise Business ReviewSotheby's International Realty Affiliates LLC today announced it won Franchise Business Review's Best in Category for Real Estate Franchisee Satisfaction award for the third year in a row. 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...
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... $5 Footlong Subs Now At SUBWAY(R) Restaurants Across AmericaAll Day, Every Day - Any Regular Footlong Sub Sandwich for Only $5.00! That outstanding $5.00 value has arrived at participating U.S. SUBWAY® restaurants as the focus of a nationwide limited-time promotion. 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... 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. 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.
Rick Davidson Appointed President and CEO of Century 21 Real EstateCentury 21 Real Estate LLC, the franchisor of the world's largest residential real estate sales organization, today announced that Realogy veteran Rick Davidson has been appointed as president and CEO of Century 21 Real Estate. Davidson replaces...
Edible Arrangements Launches First National Television Campaign Targeting MenEdible Arrangements, the pioneer and leader in hand-sculpted, fresh-fruit arrangements, announced today the launch of its 2010 national advertising campaign on January 27, 2010 on ESPN and ESPN2. The campaign marks the first time Edible Arrangements... 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. 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..
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. 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... T.G.I. Friday's(R) Restaurants to Host Coast-to-Coast Mardi Gras PartyT.G.I. Friday's restaurants today announced it will feature half-price appetizers and new drinks tomorrow for its Mardi Gras Party at participating restaurants in the U.S. Coldwell Banker Commercial Affiliates Named to Prestigious 2010 Bersin & Associates Learning Leaders ProgramColdwell Banker Commercial Affiliates LLC today was one of 25 organizations named to the fourth annual Bersin & Associates' 2010 Learning Leaders Program. The Coldwell Banker Commercial® learning team was honored for its Emerging Broker Training ( 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... New PuroClean CEO Sets Out on Ambitious 100-Day Tour of Franchise SystemIn an effort to rally the system behind his vision for the future of the nation's fastest growing property emergency services franchise, new PuroClean CEO Lauren John Reid is embarking on an international tour to build relationships with the men and ... Weichert Expands Its Corporate Housing Operations with Addition of Premier Relocation SolutionsWeichert Corporate Housing recently strengthened and expanded its corporate housing offerings with the acquisition of Premier Relocation Solutions. With the acquisition, Weichert Corporate Housing enhances its inventory of furnished apartments in New... |
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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