http://www.franchise-update.com/?ref=rss Franchise Update provides franchisors with news and informational guides. en-us benjaminf@franchiseupdatemedia.com (Franchise Update) Thu, 09 Sep 2010 17:17:41 PDT Copyright 2010 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/1081/ One of the significant consequences of the Internet's development is that we can gather opinions from a diverse group with minimal effort. I did so recently through a posting on the American Bar Association Forum on Franchising listserv. http://www.franchise-update.com/article/1081/ Mon, 21 Jun 2010 08:00:00 PDT http://www.franchise-update.com/article/1140/ 7-Eleven is going to the chickens--or at least whatever animals are on FarmVille, the popular Facebook game. It's all part of the company's new ad campaign designed to drive Facebookers to visit their convenience store franchisees. And it's working. http://www.franchise-update.com/article/1140/ Mon, 09 Aug 2010 12:00:00 PDT http://www.franchise-update.com/article/1127/ Franchise Update Media Group recently conducted a survey of social media usage by franchisors who are actively recruiting franchisees. The questions dealt not only with social media in consumer-oriented marketing, but more important for franchise development teams, its use in franchise recruitment. http://www.franchise-update.com/article/1127/ Fri, 09 Jul 2010 06:00:00 PDT http://www.franchise-update.com/article/1136/ Social media platforms are now emerging as franchise recruitment tools. Granted, it's still early in the adoption process and only time will tell how successful these new channels are in generating leads and franchise sales. http://www.franchise-update.com/article/1136/ Mon, 09 Aug 2010 08:00:00 PDT http://www.franchise-update.com/article/1165/ As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to bring you good news each month, highlighting brands that are adding units, increasing comp store sales, striking deals with investors, and continuing to grow despite the economy - maybe even because of it. And, as the U.S. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities. http://www.franchise-update.com/article/1165/ Tue, 31 Aug 2010 14:00:00 PDT http://www.franchise-update.com/article/1163/ Two years of tight credit and reduced consumer spending have left many franchisees reeling and put a serious crimp in franchisors' royalty streams. Workout professionals and bankruptcy attorneys experienced in franchising discuss what franchisors can do to help turn around distressed units - without spending scarce funds or getting themselves into legal hot water. http://www.franchise-update.com/article/1163/ Tue, 31 Aug 2010 10:00:00 PDT http://www.franchise-update.com/article/1147/ Two years of tight credit and reduced consumer spending not only have left many franchisees reeling, they've also put a serious crimp in their franchisors' royalty streams. We asked workout professionals and bankruptcy attorneys experienced in franchising what franchisors can do to help turn around their distressed franchisees--without spending precious funds or getting themselves into legal hot water. http://www.franchise-update.com/article/1147/ Tue, 07 Sep 2010 08:00:00 PDT http://www.franchise-update.com/article/1164/ Aggressive growth companies measure the performance of their sales personnel just as they do their advertising. With high recruitment expenses you can't afford mediocre selling performance, which costs dearly in lost franchise deals. A policyholder survey by Prudential Insurance revealed that the greatest influencing factor in the buying process is the sales person. http://www.franchise-update.com/article/1164/ Tue, 31 Aug 2010 12:00:00 PDT http://www.franchise-update.com/article/1146/ The rules and methods for franchise sales are changing daily with the general public's increasing awareness of the economy, deficits, lending, the housing market, and more. As some of us "graybeards" can remember, this isn't the first time the rules have changed--and it won't be the last. http://www.franchise-update.com/article/1146/ Mon, 30 Aug 2010 08:00:00 PDT http://www.franchise-update.com/article/1161/ Every franchise organization has a culture, the same way every person has a personality. If your franchise brand is serious about growth and development, ask yourself these two questions: 1) Does our franchise system have a strong, positive culture?; and 2) Is it a culture that promotes selling franchises? http://www.franchise-update.com/article/1161/ Tue, 31 Aug 2010 06:00:00 PDT http://www.franchise-update.com/article/1162/ Last year when President Obama signed the Credit Card Act of 2009 (the Act") into law, the nation's attention largely focused on those provisions of the law that aim to change the way credit card companies do business with consumers. However, since the Act imposes requirements on gift card issuers, it also changed the way many retailers and franchise companies will do business with consumers. http://www.franchise-update.com/article/1162/ Tue, 31 Aug 2010 08:00:00 PDT http://www.franchise-update.com/article/1130/ As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to bring you good news each month, highlighting brands that are adding units, increasing comp store sales, striking deals with investors, and continuing to grow despite the economy - maybe even because of it. And, as the U.S. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities. http://www.franchise-update.com/article/1130/ Fri, 09 Jul 2010 12:00:00 PDT http://www.franchise-update.com/article/1143/ As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to bring you good news each month, highlighting brands that are adding units, increasing comp store sales, striking deals with investors, and continuing to grow despite the economy - maybe even because of it. And, as the U.S. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities. http://www.franchise-update.com/article/1143/ Wed, 04 Aug 2010 08:00:00 PDT http://www.franchise-update.com/article/1144/ Sales intelligence gives you the competitive edge. Growth companies know that if you're not guarding your front and backside, you'll fall behind in the race. They keep smart and savvy by gathering data, insights, and profiling information from their franchisees, sales people, and competitors. Periodic feedback sets you atop of and in tune with the highly competitive recruitment environment. You can reap the rewards and gain the inside track on building a better, more attractive franchise program for franchisees. http://www.franchise-update.com/article/1144/ Wed, 04 Aug 2010 10:00:00 PDT http://www.franchise-update.com/article/1066/ As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to bring you good news each month, highlighting brands that are adding units, increasing comp store sales, striking deals with investors, and continuing to grow despite the economy - maybe even because of it. And, as the U.S. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities. http://www.franchise-update.com/article/1066/ Wed, 28 Apr 2010 12:00:00 PDT http://www.franchise-update.com/article/1138/ Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced that it is seeking an additional Business Development Executive, who will report to Steve Olson, publisher and chief development officer for FUMG. http://www.franchise-update.com/article/1138/ Wed, 28 Jul 2010 09:07:00 PDT http://www.franchise-update.com/article/1128/ So what do you do with franchisees that "aren't making it happen?" The ones who don't fit your formula and, realistically, will never turn things around? How do you make the best of a bad situation? The solution is logical. http://www.franchise-update.com/article/1128/ Fri, 09 Jul 2010 08:00:00 PDT http://www.franchise-update.com/article/1082/ Franchisee satisfaction is a key performance benchmark for forecasting the rate of your system development. If your "troops" aren't promoting you, it doesn't matter how compelling and profitable your program is. I'll never forget the children's franchise with a great financial success story. Even though their business model and ROI were terrific, their recruiting efforts were flopping. Lack of corporate support sparked huge issues, and owner validation was near nonexistent. http://www.franchise-update.com/article/1082/ Mon, 28 Jun 2010 08:00:00 PDT http://www.franchise-update.com/article/1086/ Franchisors seeking to grow in a tight credit environment and slow economy are turning to private equity to counter a slowdown in financing and cash flow. For struggling systems, capital "infusions" or outright acquisition by private equity firms can replace diminished royalties and franchise fees; for successful brands, this source of additional capital can be used to accelerate growth and provide a competitive advantage. http://www.franchise-update.com/article/1086/ Wed, 26 May 2010 08:00:00 PDT http://www.franchise-update.com/article/836/ Starting up a new company is risky business, even in a healthy economy. Despite the troubles and fears that have plagued the economy and business world in the past year, many new franchise concepts have hung out shingles, and others that were just barely off the ground are thriving today. http://www.franchise-update.com/article/836/ Mon, 10 Aug 2009 08:00:00 PDT http://www.franchise-update.com/article/1083/ There was a sports theme in the air as legendary NFL player and Super Bowl-winning coach Mike Ditka addressed the crowd at the recent Multi-Unit Franchising Conference in Las Vegas. Coach Ditka talked about the importance of having great players. And finding and developing great franchise players was on the minds of the numerous franchise sales and development executives attending the event. All agree that finding great franchisees is critical to building a successful franchise system. http://www.franchise-update.com/article/1083/ Tue, 06 Jul 2010 08:00:00 PDT http://www.franchise-update.com/article/1133/ Franchise Update Media Group (FUMG) the leading industry resource for franchise development, today announced that registration for the 12th Annual 2010 Franchise Leadership and Development Conference is on track to setting new attendance records. More than 200 franchisor executives representing more than 150 brands will meet at the premier industry sales and development event, which will be held September 22 - 24, 2010 at the Ritz Carlton Buckhead, Atlanta. http://www.franchise-update.com/article/1133/ Mon, 26 Jul 2010 09:15:00 PDT http://www.franchise-update.com/article/1129/ Franchisors that provide a strong support program to help struggling franchisees should seriously consider using this as a selling point to help make new franchise sales in uncertain times. http://www.franchise-update.com/article/1129/ Fri, 09 Jul 2010 10:00:00 PDT http://www.franchise-update.com/article/1074/ 1. Should I make a financial performance representation (FPR)? Yes! Any type of representation, oral, written, or visual, that suggests or implies a specific level or range of actual or potential sales, income, gross or net profits qualifies as an FPR. You can't make an FPR unless it is in your franchise disclosure document (FDD). Between 20 and 30 percent of all franchisors make an FPR, which means some of your competitors share their numbers with your prospects. What impression do you leave if you don't share yours? If you have solid numbers, consider making an historical-based FPR. If you do, the law allows you to make specific written representations outside the FDD about a particular location or highlighting specific variables (e.g., a kiosk variation to a traditional retail format). Without an FPR, you may not make financial representations on your website (the first place prospects check in investigating a concept) or anywhere else. http://www.franchise-update.com/article/1074/ Mon, 17 May 2010 08:00:00 PDT http://www.franchise-update.com/article/1089/ As savvy franchise companies continue to flourish in this challenging economy, FUSR will continue to bring you good news each month, highlighting brands that are adding units, increasing comp store sales, striking deals with investors, and continuing to grow despite the economy - maybe even because of it. And, as the U.S. struggles through its "jobless recovery," growth-oriented franchisors continue to look overseas for expansion opportunities. To be considered for next month's Winner's Column, please send your Good News to editorial@franchiseupdatemedia.com http://www.franchise-update.com/article/1089/ Wed, 26 May 2010 14:00:00 PDT