Multi-Unit Franchisee

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Social Media Resource List

SEP. 19, 2009 08:00:00 AM | BY EDDY GOLDBERG

Keeping up on the rapidly evolving social media scene, and how platforms such as Facebook, Twitter, LinkedIn, and others can be used to help achieve your business goals is like trying to catch Jamaican sprinter Usain Bolt in the 100-yard dash.

Discovering Oil: Multi-unit Operator Strikes it Rich with Oil Change Franchises

MAR. 11, 2010 08:00:00 AM | MULTI-UNIT FRANCHISEE

Darrell 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.

2010 Multi-Unit Franchising Conference: Record-Breaking Attendance

MAR. 12, 2010 11:00:00 AM | PRESS RELEASE

Multi-Unit Franchisee Magazine, published by Franchise Update Media Group (FUMG), today announced that the 2010 Multi-Unit Franchising Conference has record-breaking attendance and is nearly sold out. This year's event is March 24-26 at Mandalay Bay in Las Vegas.

Is it Time for an Operating Cost Audit?: Franchise Tenants Unite!

MAR. 11, 2010 12:00:00 PM | BY DALE WILLERTON

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.

Measuring Performance: Multi-unit Franchisees Utilize Unit Economics to Help Run a Tighter Ship

MAR. 11, 2010 02:00:00 PM | MULTI-UNIT FRANCHISEE

Multi-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.

"Old School" Communication: Cell Phone Texting Builds Customer Traffic

MAR. 11, 2010 10:00:00 AM | MULTI-UNIT FRANCHISEE

Considering 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.

Capital Access

MAR. 11, 2010 06:00:00 AM | MULTI-UNIT FRANCHISEE

Dustin 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.

Measure for Measure: Unit Economics Plays a Leading Role on Today's Economic Stage

MAR. 08, 2010 08:00:00 AM | BY KERRY PIPES

The 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.

The Multi-Unit 50: 2009's "MU50" List of Leading Multi-Unit Brands

JUL. 08, 2009 06:00:00 AM | BY KERRY PIPES

Everybody loves lists. Whether it's a year-end "best of" list in the entertainment world or a list of business-performance rankings, we see them everywhere. Lists give us insight and a benchmark for all kinds of comparisons. Readers continue to tell us that the lists found in the pages of Multi-Unit Franchisee magazine each issue are informative--and sometimes provocative--and provide a perspective that often allows for self-assessment and operational adjustments.

Renewed to Restore: Commercial Lease Renewal Do's & Don'ts for Franchise Tenants

FEB. 10, 2010 08:00:00 AM | BY DALE WILLERTON

While some franchisees receive real estate assistance from their franchisors on their new locations, very few franchisees receive help from their franchisors on their lease renewals. Since 1993, I have been coaching franchise tenants and speaking at franchise shows regarding commercial leases and lease renewals.

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