http://www.franchise-update.com/?ref=rss Franchise Update provides franchisors with news and informational guides. en-us benjaminf@franchiseupdatemedia.com (Franchise Update) Tue, 06 Jan 2009 20:44:20 PST Copyright 2009 Franchise Update Media Group. All rights reserved. http://www.franchise-update.com/images/at_rsslogo.gif http://www.franchise-update.com/?ref=rss 150 60 http://www.franchise-update.com/article/664/ In his earlier life as a CPA for a pharmaceutical company, Gary Vega traveled the world extensively. Spending so much time on the company's dime allowed him to stash away his own income until the right opportunity arrived to start his own restaurant business. http://www.franchise-update.com/article/664/ Mon, 05 Jan 2009 08:00:00 PST http://www.franchise-update.com/article/663/ What does one of the most successful Subway multi-unit operators, and now multi-unit operator and area developer for LA Sunset Tan, do for his next trick? Make a horror movie, of course. http://www.franchise-update.com/article/663/ Mon, 29 Dec 2008 08:00:00 PST http://www.franchise-update.com/article/662/ Customer loyalty is never more important than in turbulent times. High levels of customer satisfaction are a must to win customer loyalty. That's one reason measuring customer satisfaction is a great idea--if the numbers are real! Unfortunately, many customer satisfaction scores are unreliable. http://www.franchise-update.com/article/662/ Mon, 22 Dec 2008 08:00:00 PST http://www.franchise-update.com/article/661/ In these tight economic times, many multi-unit franchisees and area developers are focusing less on continuing the remarkable unit growth they've enjoyed for the past five years, and more on improving performance at their existing units. As consumer spending drops, savvy franchisees see increased royalty streams as a more attractive prospect than spending long hours with struggling franchisees, or worse, shuttering failing ones as the U.S. economy continues to sputter. http://www.franchise-update.com/article/661/ Mon, 15 Dec 2008 08:00:00 PST http://www.franchise-update.com/article/660/ You have several units--maybe even several brands--and you do a pretty good job of controlling your area. In fact, other franchisees in the chain often look to you for answers. And when the franchisor introduces a new product or advertising campaign your voice mail and e-mail overflow with peer requests for advice. You're a hot property for the suppliers, the franchisor, and your franchisee association or advisory council. Your franchisor spends more time with other franchisees because they see you don't need their help. You have dozens, even hundreds of employees and your share of GandA expenses. Your banker and the institutional lenders love you (for the time being), and you have more opportunities than you can evaluate. http://www.franchise-update.com/article/660/ Mon, 08 Dec 2008 08:00:00 PST http://www.franchise-update.com/article/659/ As a potential seller seeking a liquidity event, will the current credit markets prevent me from finding a buyer/investor at an acceptable valuation multiple? Are potential buyers/investors unwilling to pursue transactions in the present financing and economic environment? http://www.franchise-update.com/article/659/ Wed, 03 Dec 2008 10:00:00 PST http://www.franchise-update.com/article/658/ In our previous column, we covered the first two elements of security and loss prevention when setting up a new business: site selection and employee screening. This issue we look at alarm systems. http://www.franchise-update.com/article/658/ Wed, 03 Dec 2008 09:00:00 PST http://www.franchise-update.com/article/657/ Anil Yadav knows what it's like to work his way to the top of the food chain. In 1984, he was a fry cook at a California Jack in the Box, a part-time job intended to help pay his expenses while attending college. Within 18 months he was manager, and after five years had bought his own restaurant. He never quite finished that engineering degree, but today he owns and operates 78 Jack in the Box locations, along with 16 Denny's restaurants. http://www.franchise-update.com/article/657/ Wed, 03 Dec 2008 08:00:00 PST http://www.franchise-update.com/article/473/ More and more multiunit operators are recognizing that customer experience management delivers the organic growth that drives: http://www.franchise-update.com/article/473/ Tue, 11 Nov 2008 08:00:00 PST http://www.franchise-update.com/article/472/ Too often, franchise owners lack the cash flow needed to act fast enough to capitalize on an opportunity. As a result, franchisees are forced to sit back and watch others take advantage of the situation. http://www.franchise-update.com/article/472/ Mon, 03 Nov 2008 08:00:00 PST http://www.franchise-update.com/article/471/ David Ostrowe is a man on a mission--or 20. First, he says he's really working hard to be a great dad. "It's important to me to be the 'Jolly Green Giant' to my daughter, so I'm really working at it," he says. http://www.franchise-update.com/article/471/ Mon, 27 Oct 2008 08:00:00 PDT http://www.franchise-update.com/article/470/ Salt Lake City businessman Paul Hitzelberger was one of the owners of Del Taco for about 16 years. He'd also been a senior officer with General Mills and other large companies before retiring from Del Taco corporate in 2001. http://www.franchise-update.com/article/470/ Mon, 20 Oct 2008 08:00:00 PDT http://www.franchise-update.com/article/468/ While there are many good reasons to implement an automated employee scheduling system (two of the more obvious being to control labor costs and improve customer service), few employers realize that there are two additional important benefits to be realized. http://www.franchise-update.com/article/468/ Mon, 06 Oct 2008 08:00:00 PDT http://www.franchise-update.com/article/459/ When Steve Foltz graduated from Eastern Oregon University in 1985 he thought he might be interested in city or government work. To bide his time and help pay bills while he was interviewing for jobs during the day, he took a night job at Rax Restaurant in Portland. http://www.franchise-update.com/article/459/ Wed, 01 Oct 2008 08:00:00 PDT http://www.franchise-update.com/article/467/ In 1993, Grant Simon had his heart and mind set on identifying a franchise he could commit to. He found it while getting a haircut. http://www.franchise-update.com/article/467/ Mon, 29 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/458/ Everywhere you look jobs are being replaced by new technologies and automated systems. We book our own airline tickets online. We fill our own gas tanks and pay at the pump. Touch screens at the neighborhood deli allow us to punch in our sandwich and beverage order. We can pick up a rental car and check into and out of a hotel without ever interacting with any of the providing business concern's employees. And don't even get me started on automated voice call-directing systems. http://www.franchise-update.com/article/458/ Sat, 27 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/399/ Franchise Update Media Group, the leading industry resource for franchise development, today announced that Area Developer Magazine has a new name: Multi-Unit Franchisee Magazine, effective with the Issue III 2008 edition, which will be published at the end of the month. http://www.franchise-update.com/article/399/ Mon, 22 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/460/ Amid the arid, bronze landscape of the Arizona desert, things heated up for Area Developer's 2008 Multi-Unit Franchising Conference on April 23andndash;25 at the Hyatt Gainey Ranch Resort and Spa in Scottsdale. The annual three-day meeting of the minds, which once again set new attendance records, was packed with seminars, sessions, and speakers who provided multiple opportunities for personal and professional growth for multiunit franchise operators of all size and scope. http://www.franchise-update.com/article/460/ Mon, 22 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/457/ When Pat Williamson was a sophomore at the University of Georgia in 1969, he was home from school one weekend and heard about a summer job opportunity. A Frito-Lay route man stocking the shelves in Williamson's father's retail store had asked if there were any kids looking for a summer job. Williamson's grandfather overheard the request and passed along the info to young Pat. http://www.franchise-update.com/article/457/ Wed, 17 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/466/ One year ago, the debt markets were flush with cash, the merger and acquisition marketplace was lively with new deal announcements, and operating companies were aggressively pursuing new unit development opportunities. Today, we have a very different story, although an historically recurring one. http://www.franchise-update.com/article/466/ Mon, 15 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/456/ The franchising continues to grow, not only in size, but complexityandmdash;and in recent years, a huge part of that is attributable to multiunit, multi-concept franchising. Today one of every two franchise operators has more than one location. And really, why not? If the cookie-cutter approach works in one location it will most likely work in another, and another. In fact it really boils down to a simple numbers game: the more sales and revenue generated, the more profit potential there is. http://www.franchise-update.com/article/456/ Wed, 10 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/465/ We are a nation of worriers. And lately, when it comes to fretting about the capital markets and the economy, it seems we have elevated worrying to an art form. Just the other day, I heard a national news announcer proclaim that investors had become "trepidatious" in response to recent market volatility. Huh? http://www.franchise-update.com/article/465/ Mon, 08 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/455/ Florida-based businessman Peter Economys and New York entrepreneur Rob Tobias have a very special talent important to area developers: they're champion multi-taskers. But the concentration and mental agility necessary for the success of any area developer is doubly important for them--because each oversees multiple concepts. http://www.franchise-update.com/article/455/ Wed, 03 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/464/ Heather Spell and her husband Gentry spent the last decade as ticket brokers, finding their customers the best seats for sports and entertainment events in the Sacramento area. http://www.franchise-update.com/article/464/ Tue, 02 Sep 2008 08:00:00 PDT http://www.franchise-update.com/article/454/ Of course, not all events are worth the same price, but many executives often respond as if they are. Stressed executives can exhibit the same heart rate increase, elevated blood pressure, and hormonal release when running late for a meeting as if confronted by a thug with a knife. The human toll is the equivalent of paying $1,500 for a $50 sweater. Do that too frequently and your resources will be spent. Take similar exhaustion across the organization and the tally becomes astronomical. Many distressed companies not only fail to realize how distressed they are, but also how much that distress costs them in productivity and profit. http://www.franchise-update.com/article/454/ Wed, 27 Aug 2008 08:00:00 PDT