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Economic Stimulators: Buy One, Get One FreeRetailers have never been shy about enticing customers to buy through all kinds of incentives. Now a franchisor has followed suit. During the last quarter of 2008, Seattle-based Emerald City Smoothie was offering a "buy one, get one free" franchise promotion. Seriously. Registration Now Open for Franchise Update Media Group's 11th Annual Franchise Leadership & Development ConferenceFranchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced that registration is now open for the 11th Annual Franchise Leadership & Development Conference, Sept. 23-25, 2009 at the Drake Hotel in Chicago, where the "who's who" of franchise development will be gathered to network, connect with peers and share their strategies of success. Call for Multi-Unit Franchisees to Participate In Nationwide "Top 99" Rankings By Franchise Update Media GroupFranchise Update Media Group (FUMG), the leading industry resource for franchise development, today announced that submissions for the 2010 Multi-Unit Franchisee "Top 99" lists are being accepted through Friday, Nov. 13, 2009. It's in the STARS: Annual STAR Awards Recognize Recruiting LeadersAll franchisors place a high priority on gaining new recruits and responding to contacts from prospective franchisees. But who's setting the pace on performance? Once again, Franchise UPDATE's mystery shoppers hit the phones--and the websites--checking out franchisors from coast to coast to see which were doing the very best work. The best and the brightest were recognized in the 10th annual STAR (Speaking To And Responding) Awards--from the three top national performers to the companies that excelled at fielding telephone contacts or quickly getting back to website leads. City Beautiful?: The New ROI: Return on InclusionMany franchisors have reached their limit on expanding into suburbia, but the imperative to grow remains strong. In response, an increasing number are training their sights on America's cities.The move to the suburbs has been a decades-long trend in the United States, and franchisors have followed suit. But more than half of the U.S. population live in the country's top 25 metropolitan areas, and nearly 80 percent live in the top 100 metro areas.Cities are complex, crowded places, running the gamut from blighted ghettos to luxury high-rises. Suburban commuters flood into them by the millions each day to work and shop, creating a vibrant marketplace. And the under-served inner cities are hungry for retail goods and services, jobs, and entrepreneurial opportunity, making them fertile ground for franchisors who take the time to learn, understand, and develop relationships with the people who live there.The Initiative for a Competitive Inner City (ICIC), founded in 1994 by Harvard Business School Professor Michael Porter, studies inner cities with a focus on economic development. According to ICIC, "[T]he inner city retail market offers significant profit potential for retail companies now operating in the highly competitive, over-saturated suburban markets." According to an ICIC study, the country's inner cities contain: Romania - a New Player on the MarketThe past decade saw an acceptance by the Romanian market of the Western concepts of doing business, a new perception of the value of brands and the creation of an entirely new market - the one for franchisers. Seven years have passed since Romania enacted a franchise law. During this period, the market has evolved, and the pioneering period in franchising during which major companies entered the market only for market testing - first performing distribution operations (Coca Cola) or establishing a subsidiary (McDonald's) and only afterwards developing their franchise concepts - has come to an end. Indeed, 60 of the 107 franchises currently operating in Romania have been established during the last two years. Eco-Pizza Pioneers:Pizza Fusion, a growing chain of organic pizza restaurants, was born from three passions shared by co-founders Vaughan Lazar and Michael Gordon: food, healthy eating, and the environment. Speed Kills (The Competition)In franchising, no one has to be reminded of the importance of making deals and signing fabulous new franchisees. But unless you actually open new units, inking the deal is only part of the story. This important distinction--between units sold and units opened--led us to examine six franchises that grew by more than 100 units between 2005 and 2006 and ask them how they did it. State of the States ReportIn a new column starting next month, Brian Schnell, co-chair of Faegre & Benson's Franchise Practice, will alert readers to any state regulatory developments affecting franchisors. For example, he will identify any state-specific nuances franchisors may encounter from state regulators during the franchise registration process. He also will provide best practice tips to help franchisors comply with individual state registration and disclosure requirements. "Pressing" Your Case: Using Public Relations To Sell More FranchisesEarly in my career I first witnessed the magic of great PR. Dan Dorfman, a renowned investment advisor and syndicated columnist, labeled our business-to-business franchise one of the "top ten best franchises in America." His story generated 11 new franchisees for us. At no cost! |
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