Multi-Unit Franchising Articles

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Timing CAPEX to Valuation: Plan Capital Expenditures to Maximize ROI

JUN. 01, 2010 08:00:00 AM | BY DEAN ZUCCARELLO

Historically, franchising has accepted EBITDA as the benchmark for establishing valuation. However, as seen over the past several years, valuations can vary widely across franchisors, franchisees, and company-owned concepts. Franchising has seen transaction multiples ranging from the low single digits up to lofty double digits. So what is the justification for this wide range in transaction multiples? What makes a buyer willing to pay 8x for one deal, but only 4x for another?

Demographics in the New Century

MAY. 27, 2010 02:00:00 PM | MULTI-UNIT FRANCHISEE

If you haven't already done so, it's time to face the facts. Your customers are online and they're using social media. Here's what many of them are doing - connecting with their friends on Facebook, chatting up brands on Twitter, and spending quality time with companies through videos on YouTube. They are writing and reading blogs, listening to and participating in podcasts, and connecting on LinkedIn. Want to reach them? You can if you're at the right places.

More Is More: Experienced multi-unit franchisees takes on a 170-unit area Rep Deal

MAY. 27, 2010 12:00:00 PM | MULTI-UNIT FRANCHISEE

Anil Yadav likes to think big. The multi-unit, multi-brand franchisee in Northern California owns 155 Jack in the Boxes and 26 Denny's restaurants in California and Texas. In fact, he's Jack in the Box's largest franchisee and he owns one of the largest privately held franchise companies in the country - which just happens to employ more than 4,000 people. Apparently, all that's not enough.

Hiring the American Dream Team

MAY. 27, 2010 10:00:00 AM | MULTI-UNIT FRANCHISEE

In his book, <i>Hire the American Dream</i>, Domino's Pizza multi-unit franchisee Dave Melton outlines much of his own personal journey and roadmap to discovering how to hire the best and most productive employees, and create a culture that leads to success for everyone in the company. It's a task that all franchisees encounter and Melton's tried and true methods can be applied to almost any situation.

Whose Side Are You On?

MAY. 27, 2010 08:00:00 AM | BY DALE WILLERTON

As "The Lease Coach," I am a magnet for leasing questions. In fact, I receive hundreds of questions from independent and franchisee tenants each year; I am approached after my seminars, e-mailed, and called. One telephone call that I received was from a woman who had recently purchased a franchise. She started by telling me that her franchisor had offered to do her site selection and real estate work for an extra $3,500. Not knowing much about commercial real estate, she had thought that was a great deal and had accepted the franchisor's proposal for help. According to the franchisee, she was to meet and spend the day with a local real estate agent looking at sites, which she did.

Both Sides Now: Greg Jones Measures Unit Profitability as a Franchisor and Franchisee

MAY. 27, 2010 06:00:00 AM | MULTI-UNIT FRANCHISEE

Over the past few issues of the Multi-Unit Franchising Report we have highlighted a handful of franchisees and their efforts to keep better tabs on the income and expenses of their units. Such unit economics strategies have become central to many franchisee operations. As the old adage states, you can't manage what you don't measure.

Partner Power: Making the Move from Corporate to Operator

MAY. 24, 2010 08:00:00 AM | BY JOHN CARROLL

Before signing on as a multi-unit franchisee, Rob Parsons already had an insider's view of franchising, having spent time at Denny's and Popeyes working with franchisees on the real estate side. At Popeyes, Parsons worked with Jim Lyons, an industry veteran who is now chief development officer for Del Taco and Captain D's. Lyons played a key role in mentoring the young Parsons. During a five-year stretch at Popeyes, Parsons played a key role in pushing the brand's New York market from 58 to 101 locations.

Defining Value in 2010: Keeping Current with Changes in Consumer Mindsets

MAY. 17, 2010 08:00:00 AM | BY JACK MACKEY

With all the emphasis on providing customers with "value," I asked about 100 attendees at the IFA Convention in February to describe what value meant. The top five answers on the board:

Resource Management: Four Case Studies: Putting the Lid on Rising Employee Costs

MAY. 10, 2010 08:00:00 AM | BY KERRY PIPES

Businesses spend an average of $28.87 per hour for each employee, according to recent figures from the U.S. Department of Labor's Bureau of Labor Statistics. This figure includes salary plus benefits such as health insurance, vacation time, and workers' compensation. Overall, 69.7 percent ($20.13) goes toward salary and 30.3 percent ($8.74) to benefits, with 1.6 percent ($0.47) of that benefit percentage going to workers' comp.

Multi-Unit Leadership: A Conversation with Jim Sullivan on Multi-Unit Leadership for the 21st Century

MAY. 03, 2010 08:00:00 AM | BY KERRY PIPES

Jim Sullivan is the CEO and founder of Sullivision.com, a company that designs and delivers operations and leadership training programs for companies and franchisees worldwide. Clients include The Walt Disney Company, McDonald's, Panera Bread, Regis Corp., Jiffy Lube, Wal-Mart, American Express, Applebee's, Domino's, Dunkin' Brands, and Coca-Cola. Three years ago Sullivan's company began researching the best practices of high-performing multi-unit leaders.

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