Multi-Unit Franchising Articles

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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.

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.

Seven Steps to Fiscal Fitness: A "Fiscal Physical" Will Help Your Business Survive, Grow, and Prosper

MAR. 01, 2010 08:00:00 AM | BY STEVE LEFEVER

In 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.

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.

Leaving the Law Behind: A Career Change To Franchising "Seemed Logical"

FEB. 01, 2010 08:00:00 AM | BY DEBBIE SELINSKY

After graduating from the University of Pennsylvania and Loyola Law School in Los Angeles, Danny Sonenshine quickly found himself working as a litigator and transactional attorney at major firms in Orange County. It didn't take long for the Laguna Beach native to realize a few things about himself--realities that led him to leave the practice of law after six years for the very different field of franchising and restaurants.

Wired for Growth: America's Mega 99 Franchisees 2010

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

Each year at Franchise Update we survey franchisees across the U.S., toting up their brands, units, and locations, and ranking them by size for our annual "Mega 99" list. And, since not all franchises are created equal in terms of initial investment and ongoing support, we also compiled a second list, ranking the largest franchisees by industry. Numbers are important, of course, but they don't tell the story of the struggles, false starts, and failed endeavors each successful multi-unit operator has overcome in building their organization. Many have spent decades building their companies, brand after brand, unit after unit.

Growing Up Fast (Food!): At 36, Anand Gala has Spent 28 Years in the Family Business

JAN. 11, 2010 10:00:00 AM | BY JOHN CARROLL

Anand Gala never planned on getting into the family business of operating franchised fast food restaurants. What he had planned on was medical school. But as he was working his way through his med school interviews, it dawned on him that he just wasn't all that interested in medicine. He's never looked back.

Transfers of Power: Under-Performing Units Present Opportunities in 2010

FEB. 22, 2010 08:00:00 AM | BY DARRELL JOHNSON

The difficult consumer business environment has made the economics of new unit expansion more challenging. This makes "getting to yes" with bankers more difficult because the economics do not have as healthy a margin for error as they did in more robust times. As a consequence, capital access will continue to be the most constraining factor as we look at the next few years. Financing new units is relatively more challenging in general, and in this economy that is particularly true.

Rented Space: The Art of Negotiating a Mid-Term Rent Reduction for Your Commercial Lease

JAN. 12, 2010 02:00:00 PM | BY DALE WILLERTON

Whenever I speak at a franchise convention, I inevitably meet many struggling franchisees leasing commercial or retail space. These tenants desperately need a rent reduction ... right now. The recession is taking its toll on all industries including franchising; sales are down, business expenses are rising, and the high cost of leasing space is closing in on tenants. Your monthly rental payment to the landlord can be one of your biggest monthly expenses. Therefore, reducing this monthly lease payment is imperative for businesses like yours to stay viable.

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