AUG. 23, 2010 08:00:00 AM | BY MARVIN STORM
Most franchise concepts are built around the personality of the founder. Entrepreneurial lore is filled with stories of founders who open a business, incubate it for years, and after much trial and error, create a successful business.
JUN. 14, 2010 08:00:00 AM | BY MARVIN STORM
Market dominance is the measure of the strength of a brand, product, or service relative to the competition. Emerging franchise companies that are the first movers in their market niche need to be agile to establish their market presence before more aggressive or better capitalized companies move into their niche and overtake their first mover advantage.
FEB. 16, 2010 08:00:00 AM | BY MARVIN STORM
"The one with the most money wins the battle in recruiting new franchisees" is an axiom that means more now than ever. Emerging franchise companies have a difficult time getting the attention of serious franchise candidates in today's challenging economic environment. This is because new advertising and marketing channels are emerging, and more franchisors are chasing a limited number of qualified franchisee candidates.
JAN. 11, 2010 08:00:00 AM | BY MARVIN STORM
The Human Genome project, a rapidly developing area of genetics, is the subject of much conversation today. In classical genetics, the genome of an organism is a complete genetic sequence on one set of chromosomes. The ability to understand these building blocks of life will lead to medical breakthroughs that will transform our lives in the future. Metaphorically speaking, a "Franchise Genome" could be viewed as a manifestation of how a franchisor's DNA can be sequenced, understood, and passed along to franchisees.
SEP. 08, 2009 08:00:00 AM | BY MARVIN STORM
Earlier this year, I had the opportunity to attend Franchise Update's annual Multi-Unit Franchising Conference in Las Vegas. I sat on a panel of experts in a session titled "Development Strategies: Accelerating Growth Through Area Representation." During this session, the advantages and disadvantages of area representation (AR) were discussed. As the session concluded, there appeared to be a few franchisors converted to the AR concept.
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