March 11, 2010
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Your Small Business Franchise News SourceFranchise News Watch brings you the latest in small business franchising news from around the web. As a news aggregator for the small business franchise industry, Franchise News Watch streams the latest ground breaking franchise articles, features, guides, blogs, news and more directly to your desktop.  Small Business Franchise NewsGames2U 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... 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. 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... GNC Adds Dream Water(R) to New York City LocationsSarpes Beverages today announced the availability of its innovative, first-of-its-kind sleep and relaxation water at New York City locations of GNC. GNC, a leading global specialty retailer of nutritional products, will carry the 2.5 oz.-size bottle of...
Handyman Matters of Chicagoland West Suburbs Earns Coveted Angie's List Super Service AwardHandyman Matters of Chicagoland West Suburbs has been awarded the prestigious 2009 Angie's List Super Service Award. This is the third time winning this award for Handyman Matters franchise owner, Diane Sheppard. Handyman Matters in Clermont Participates in Charitable Initiative for the Community of Faith United Methodist ChurchHandyman Matters in Clermont is participating in a local charitable initiative by donating time along with others to construct a Cross and memorial garden in honor of Dave Grudowski, active member of the church that past away last November. Handyman Matters Chicago Wins Multiple Awards at 2010 National Franchise Convention and Earns Coveted Angie's List Super Service AwardHandyman Matters Chicago was recently awarded multiple awards at the national franchise convention held in Jacksonville, Florida. The awards include Market Penetration Award, K.P.I (key performance indicators) award and Award of Excellence for Top Sales. GNC Sponsors the 21st Annual Arnold Sports Festival in Columbus, OhioAs the main sponsor of the 21st annual Arnold Sports Festival, the largest multi-sport event in the nation, the 170,000 sports and fitness fans expected at the four-day extravaganza will have a chance to see a lot of GNC -- from the GNC Pro Performance... Handyman Matters of Gulf Coast Wins Multiple Awards at 2010 National Franchise ConventionHandyman Matters of Gulf Coast was recently awarded multiple awards at the national franchise convention held in Jacksonville, Florida. The awards include President's Award of Excellence, K.P.I (key performance indicators) award and 4th place in Total... Handyman Matters Awards Oleg Malamura with Craftsman of the Year for 2009Handyman Matters awarded Oleg Malamura with Craftsman of the Year for 2009 at national franchise convention held in Jacksonville, FL. The Craftsman of the Year is chosen as the nation's best based upon their skills in the trade and customer service.
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 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...
Maid Brigade Announces National Franchise Expansion OpportunitiesMaid Brigade(R), the nation's first and leading green-cleaning franchise, announced today the launch of an aggressive growth plan to increase its presence throughout the US. The first markets targeted for development include Chicago, Baltimore... Maid Brigade Announces National Franchise Expansion OpportunitiesMaid Brigade(R), the nation's first and leading green-cleaning franchise, announced today the launch of an aggressive growth plan to increase its presence throughout the US. The first markets targeted for development include Chicago, Baltimore... Mars Venus Success Coaching Opens Germany; Now Represented in 17 CountriesMars Venus Coaching continues to expand throughout the world, now opening the first office in Germany, the largest economy in Europe and 4th largest GDP in the world with a population over 82 million. "We believe 2010 will be a pivotal year for Mars...
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. NiteLites of Jacksonville Outdoor Lights Teams Up with Florida Backyard Creations for Outdoor Living AreasNiteLites of Jacksonville will embark on a new business collaboration beginning March 2010, partnering with six top Jacksonville exterior home improvement companies to create Florida Backyard Creations. This collective effort will take outdoor living... GNC Says 'Thank You' to Customers and Employees for Their $1.4 Million in Donations to the Sixth Annual St. Jude Children's Research Hospital(R) ThankGNC sells products to help health-conscious consumers Live Well, but its customers and employees have once again put their money on the table to help a very special group of consumers: children battling cancer and other catastrophic diseases at St. Jude C Sears Helps Minnesota Residents Access Up to $200 In Rebates On ENERGY STAR(R)-Qualified AppliancesThe Sears Blue Appliance Crew(TM) is helping Minnesota residents access the $5,009,000 in rebates available for ENERGY STAR?-qualified appliances as part of the "Cash for Appliances" rebate program. As the 2010 ENERGY STAR? Retail Partner of the Year... 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.
Labor Finders Produces a New Video on Black Market Labor & Its Effect on the EconomyLabor Finders International wants the American public to know about the effect of undocumented laborers working in the United States. Black market workers do not pay taxes nor do they carry workers compensation insurance. In addition, Labor Finders... Bakery-Cafes Kick Off Student Essay Contest to Celebrate Teacher AppreciationBreads of the World, the local franchisee for Panera Bread in central and southwest Ohio, is pleased to announce the fifth annual Rising Above student essay contest, which will run from March 1 – March 31, 2010. To participate, students must submit Papa Bello Enterprises Launches New Corporate WebsitePapa Bello Enterprises (Pink Sheets: PAPA) announced today that the company has launched a new, "one stop" corporate website. This website is a comprehensive resource for investors or entrepreneurs seeking to research Papa Bello's four (4)...
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... |
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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