March 11, 2010
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Your Retail Franchise News SourceFranchise News Watch brings you the latest in retail franchising news from around the web. As a news aggregator for the retail franchise industry, Franchise News Watch streams the latest ground breaking franchise articles, features, guides, blogs, news and more directly to your desktop.  Retail Franchise 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. Games2U Entertainment Reaches 100th Franchise MilestoneNational party franchise Games2U Entertainment announced this week the signing of their 100th franchise in Naples, FL.
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...
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... 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... 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... 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... Hollywood Crowns Award Winning MoviesAmong the flashing lights, the glitz and the glamour, Hollywood paid homage to the "best of the best" movies for 2009. Movie fans looking to be among the first to watch last night's winners can check out the multitude of media offerings from... 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... 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... Cotton Incorporated Partners With Gap For Nationwide "cotton. From Blue To Green." Denim DriveCotton Incorporated announced today that it will be working with Gap to launch the COTTON. FROM BLUE TO GREEN.(R) denim drive in about 1,000 Gap stores across North America and Puerto Rico. Beginning March 5 through March 14, consumers across...
Decor&You Offers an Affordable Way to Put Your Passion for Decorating to WorkDecor&You, the market leader and second largest interior design franchise in the country, is offering an exciting, low investment opportunity for people passionate about decorating. This unique and affordable entry into the growth industry of interior Gap Inc. Reports February SalesGap Inc. (NYSE:GPS) today reported net sales of $838 million for the four-week period ended February 27, 2010, which represents a 5 percent increase compared with net sales of $795 million for the four-week period ended February 28, 2009. Franchise manager finds innovative way to motivate staffWith the recent economic turndown leaving employee satisfaction at a record low, finding a cost-effective way to motivate the workforce can be a challenge. Fortunately, Jim Aldridge, manager of ColorTyme in Gaffney, S.C., discovered a creative approach... Gap Inc. named #1 Retailer in 100 Best Corporate Citizens ListGap Inc. today was named as the top retailer in Corporate Responsibility Magazine's 100 Best Corporate Citizen List, placing 9th overall in the most recent ranking of major U.S. companies by CRO Magazine which serves as a national indicator of best... Interstate Batteries Sets All-Time Sales Record - Interstate All Battery Center Division Also Posts Double Digit GrowthInterstate Batteries, North America's top battery replacement brand, set its all-time one-month sales record in January with more than 1.5 million automotive batteries sold, nearly 11 percent over its previous record in October 2009. The 58-year-old...
Aaron's, Inc. Dream Machine to Honor Mitsubishi Digital Electronics America at Atlanta Motor SpeedwayAaron's, Inc. (NYSE: AAN) named Mitsubishi Digital Electronics America, Inc. its Vendor Partner of the Year for 2009 and will race a Mitsubishi-themed No. 00 Aaron's Dream Machine in the company's honor.
ColorTyme named AllStar Franchise for 2010ColorTyme, the nation's oldest rent-to-own franchisor, was chosen from more than 800 companies as a top business opportunity in the 2010 AllBusiness Allstar Franchises ranking.
Caribou Coffee Leaps Toward the Future With a New LookCaribou Coffee(R) customers in all stores nationwide will notice a new coffee-centric caribou on their cups as they reach for their beverages today. As part of the company's strategy to enhance its brand position and create new opportunities to engage... Why Do my Feet Hurt? Foot Solutions Offers Free Foot Assessments Through Their 'Step In to Health' Program!Just as a house needs a strong foundation, your feet are your foundation and the key to help keep your body in alignment and alleviate knee, hip and back pain. To get everyone started on the path towards healthier and pain free feet, Foot Solutions...
Snap-on Tools Named Top Tool Franchise for Franchisee SatisfactionSnap-on Franchise has been named the top tool franchise and one of the top 30 franchises for franchisee satisfaction in Franchise Business Review's (FBR) 2010 rankings. This fifth annual study of franchisee satisfaction identifies top franchise... Toys"R"Us, U.S. Launches Fundraising Campaign to Help Autism Speaks Solve the Autism PuzzleToys"R"Us, U.S. today announced that its fundraising campaign to benefit Autism Speaks will begin Sunday, February 28 and continue through Friday, April 30. Throughout the campaign, monetary donations will be collected at all Toys"R"Us and Babies"R"Us...
Aaron's, Inc. Directors Declare DividendThe Board of Directors of Aaron's, Inc. (NYSE: AAN), the nation's leader in the sales and lease ownership and specialty retailing of residential and office furniture, consumer electronics and home appliances and accessories, has declared a quarterly... 'Law Abiding Citizen' Tops Weekly BLOCKBUSTER(R) Hit List of 'Top 10 Rented DVDs'Topping the BLOCKBUSTER(R) (NYSE: BBI, BBI.B) Hit List of "Top 10 Rented DVD Titles" for the week ending Feb. 21 is "Law Abiding Citizen." Law Abiding Citizen is a 2009 thriller film directed by F. Gary Gray from a screenplay written by Kurt Wimmer, and..
UNITS Mobile Storage Sees Upturn in Business as Nation DownsizesThe weak economy has helped one company grow stronger as businesses and individuals search for creative ways to save money using mobile storage. UNITS Mobile Storage, a technologically advanced mobile storage company with 40 franchises nationwide...
Click, Click; Batteries Plus Franchise Debuts New Website with Improved FeaturesBatteries Plus, the nation's first and largest all battery retailer, enjoyed the best year in company history in 2009. With the help of a new website and even more hard work, they intend on producing an even better year in 2010. Play N Trade Sales Rise Above Video Game Industry Sales to Kick Off New YearPlay N Trade Franchise, Inc., the fastest growing video game franchise worldwide, today announced that for the month of January, 2010 their same store sales were up 6.18% compared to January of 2009, while the rest of the video game industry was down...
Healthy Fast Food to Bring U-SWIRL Frozen Yogurt(R) Stores to U.S. East CoastU-SWIRL International, Inc., the owner and franchisor of U-SWIRL Frozen Yogurt(R) stores and wholly-owned subsidiary of Healthy Fast Food, Inc. (OTC Bulletin Board: HFFI), today announced that it has signed an Area Development Agreement... Last Call for Build-A-Bear Workshop Huggable Heroes SearchJust nine days are left to enter a young leader into the 2010 Build-A-Bear Workshop(R) Huggable Heroes(R) program. Ten young people, ages eight to 18, will ultimately be selected as Huggable Heroes and win a $7,500 educational scholarship and $2,500... Martin Ellen to Become CFO of Dr Pepper Snapple Group; Aldo Pagliari Named Successor as Snap-on CFOSnap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users, today announced that Martin M. Ellen, senior vice president - finance and... BLOCKBUSTER On Demand(R) to be Available on the Largest Touch-Screen Smartphone in the U.S.BLOCKBUSTER On Demand(R) will be the exclusive movie download experience embedded on the upcoming HTC HD2 smartphone in the U.S. Blockbuster Inc. (NYSE: BBI, BBI.B) and T-Mobile(R) USA, Inc. announced today that consumers can download and watch... Caribou Coffee Announces Fourth Quarter and Fiscal 2009 Earnings CallCaribou Coffee Company, Inc. (NASDAQ:CBOU), the second largest company-owned gourmet coffeehouse operator in the United States based on the number of coffeehouses, announced today that it will release financial results for its fourth quarter... Aaron's, Inc. Reports Fourth Quarter and Year End Results; Same Store Revenues Up 5.2%; Diluted EPS Up 18% to $.46 for Quarter; $2.06 for YearAaron's, Inc. (NYSE: AAN), the nation's leader in the sales and lease ownership and specialty retailing of residential and office furniture, consumer electronics, home appliances and accessories, today announced revenues and earnings for the three...
Tortured Love Affairs Define Favorite Movie Couples in Blockbuster Valentine's PollVoters chose Jack and Rose from "Titanic" in the Blockbuster Inc. (NYSE: BBI, BBI.B) new poll of favorite film couples. As Valentine's Day approaches, some of Hollywood's most tortured on-screen lovers are in the list. In second place are Ennis and... |
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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