Author Archives: Thomas

Funding a Franchise

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If you have decided to become a franchisee, you need funding to get your doors open. Before you proceed, you should know how banks view franchises and what information you will need before approaching the bank for a loan.

 

Banks find loans for those interested in purchasing a franchise more appealing than those looking to start their own business from scratch. Statistically speaking, franchisees are more likely to succeed than the average small business owner: 99% of all franchise operations succeed within a five-year period of time where as 65% of all general businesses succeed in that same five-year time period. Banks view franchisees as having prior history because the entire franchise is already established.

 

If you are going to purchase a franchise and are in need of financial aid, the bank will need as much information as you can possibly provide. In order to grant you the most aid possible, the potential franchisee must provide information about the franchise business you are interested in purchasing, the business plan, his or her financial information, the franchise agreement, and information on the local area.

 

Funding a franchise, while considerably easier than getting a loan for an entirely new business, takes research, time, and planning. Make sure you have all of the proper information before proceeding, and take advantage of any local resources for business owners that are available while you are trying to get your new franchise up and running.

 

To find a franchise that fits your budget, visit a franchise directory such as http://franchisebuy.com.

Franchise Profile: Online Trading Academy

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Tens of millions of people have seen their retirement derailed by the financial turmoil of the past decade. Online Trading Academy has a proven record of helping these people get back on track by teaching the tools of the professional trader/investor in stocks, futures, currencies and more.

 

Online Trading Academy teaches adult students to trade and invest at a professional level using modern online tools. Their business model was born in 1997 when they operated their own large trading floor; the training provided to new traders was so effective that they eventually switched their focus to education vs. active trading.

 

 

Their first Financial Education Center was company-owned, but they quickly realized that the model could be easily replicated with appropriate support and the first Online Trading Academy franchise opened in 2005. Today they have 32 franchises around the world in addition to the original Center. They also have a large and rapidly growing family of 150,000 current and former students who have invested an average of $10,000 per student in their training.

 

Exclusive franchise territories are still available in the U.S., Europe, Middle East, Australia and Asia. Please submit you information on their entry form for more information: http://franchisebuy.com/franchise/Online-Trading-Academy.

 

 

Why Online Trading Academy?

As an Online Trading Academy franchisee, you can empower people with tools to build their personal wealth and retirement security while also improving their quality of life. Many of their students have been trading for years with moderate success and find that the principles and practices they learn at Online Trading Academy help them take their results to a new level. Others are newly retired or have recently left their jobs and enjoy the flexibility of being able to trade on their own schedule, whether it’s several hours a day or just a few minutes a month.

 

The enthusiasm that Online Trading Academy students feel comes directly from the quality of the teaching materials and their learn-by-doing educational model that has been tested over time. They are very different from the hotel ballroom investment seminars and from the proprietary systems that students may have experienced in the past, and their steady growth and revenues prove it works. Join Online Trading Academy as a franchise owner, and adopt their proven methods as your new business model!

Checkers and Rally’s: Driving Food Franchise Growth

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Though young when compared with Wendy’s and McDonald’s, fast food franchises Checkers and Rally’s have proven that sometimes newer can be better. The two concepts are fueling their growth with frequent menu improvements, intensive franchisee recruitment and training, and a commitment to veterans.

 

Founded in the late 80s, Checkers and Rally’s sell your traditional fast food fare: burgers, fries, cola, milkshakes, hand pies and a bevvy of other American favorites– with a twist. The restaurant franchises often update their menu. New food items include a BBQ Pulled Pork Sandwich and a Fry Lover’s Burger, which makes a literal combo out of a burger and fries. Pair either new sandwich with a Banana Milkshake and consider your appetite crushed.

 

While Checkers and Rally’s certainly have their customers’ hunger under control, it’s the franchise duo’s ability to encourage greatness in their franchisees that’s most admirable. The franchise is 800 strong and the established brands have been lauded by numerous franchise industry publications including Entrepreneur Magazine, QSR, and Franchise Times.

 

One of the secrets to Checkers and Rally’s collective success is how deeply involved the brands are in selecting franchisees, franchisee training, keeping product offerings current and maintaining Checkers and Rally’s visibility through concerted public relations, lead generation, marketing and social media efforts.

 

Once approved, new Checkers and Rally’s franchisees undergo a five week intensive training program in an established Checkers or Rally’s location. Pending a successfully completed training program, each franchisee is guided by a business team assigned to his or her location to aid in site selection, provide construction support, and train managers and other personnel. There’s not a single step that Checkers and Rally’s franchisees take alone. There’s a reason why the two concepts have been ranked in Entrepreneur’s “Franchise 500”  as one of the Top 100 franchises in the U.S. and as one of the Top 100 fastest growing franchises in the U.S.

 

The restaurant franchises are also committed to aiding veterans of the armed forces and are active members of VetFran, providing discounts to honorably discharged veterans who qualify.

 

For more information on Checkers and Rally’s or to learn how to become a franchisee, visit http://www.franchisebuy.com/franchise/Checkers-Drive-In-Restaurants-Inc.

Can You Succeed with a Work-at-Home Job?

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Along with the upsides of working from home – like being your own boss and working your own hours – there are downsides, namely, being your own boss and working your own hours. You may have the talent to work at home but you also need the discipline. Ask yourself these three questions to decide whether working at home is for you.

 

Do I take the initiative?
Rather than waiting for tasks from an employer, at home you have to make work for yourself. Whether it’s finding new clients or brainstorming a new product, you are solely responsible for keeping your home business going.

 

How well do I manage my time?
You’re free to check your social networking accounts all day when you work at home, but one simple fact remains: no work, no pay. Time management skills are a must for maintaining a steady rate of production.

 

Is my family supportive?
Relatives may have a hard time understanding that you aren’t free just because you’re at home all day. If you aren’t comfortable setting clear boundaries regarding your work schedule, be prepared to deal with constant interruptions.

 

Answering ‘no’ to any of these questions is a sign that you aren’t ready to work at home. Working at home part-time can allow you to see for yourself whether you have what it takes to work at home for good.

To learn more about independent business and franchise opportunities, many of which will allow you to work from home, visit www.FranchiseBuy.com.

For FiltaFry, Every Day is Earth Day

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To most, Monday was Earth Day– unless you’re a Filta franchisee— in which case every day is Earth Day.

 

Since 1996, Filta Environmental Kitchen Solutions has used science to the benefit of businesses and the environment by offering green solutions to common problems experienced by the hospitality industry.

 

Familiar with reducing, reusing and recycling? Filta’s three kitchen solutions are modeled along the same guidelines.

 

FiltaFry is an eco-friendly way for restaurants, food franchises and other establishments to manage, filter and reuse fry oil and shortening. Trained FiltaFry representatives micro-filter each fryer’s cooking oil, perform vacuum-based deep fryer cleaning services and calibrate each fryer for optimum performance. By doing so, each pound of cooking oil’s longevity increases and 99 percent of carbon is removed from the fryer. Consistently cleaned fryers also reduce the number of accidents and insurance claims amongst restaurants and food franchises.

 

Once the oil is no longer usable for cooking it’s purified through Filta Environmental Kitchen Solutions’ FiltaBio service. The majority is sent to be made into biodiesel, the safe and environmentally friendly alternative to conventional diesel fuel.

 

In addition to maintaining the quality of frying oil for restaurants and food franchises, Filta has devised a cost-effective and eco friendly solution to businesses that need to ensure moisture levels within their refrigeration units. FiltaCool’s air permeable packet absorbs excess humidity through a special blend of minerals.

 

Filta’s list of clients include:

  • hotels and resorts (Hilton, Holiday Inn, Marriott, Compuware Arena, Nationwide Arena, Six Flags)
  • grocery stores
  • convenience stores
  • hospitals (BlueCross BlueShield, JFK Memorial Hospital, Emory University School of Medicine)
  • florists
  • universities (Emory, University of Tennessee)
  • restaurants (Chick-Fil-A, Romano’s Macaroni Grill, Ruth’s Chris Steak House)

 

 

Financial Update: Franchises See Increase in Lending, Sources

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Lending has been a thorn in the franchise industry’s side since the recession. Though capital is difficult to produce for any startup, joining the franchise industry presents its own special obstacles. As many concepts require a franchisees possess a certain net worth or liquid assets, entrepreneurs must satisfy two sets of prerequisites, jumping through countless hoops. Despite a franchise concept’s history of success many banks remain hesitant to loan.

 

That said, the tables are turning and franchise lending numbers have been slowly increasing since 2010. After a one month hiatus at the beginning of 2013, the International Franchise Association and Boefly are both reporting that lending has increased almost 3 percent from February to March. Year over year, the Franchise Business Index is up 1.28 percent.

 

While traditional lending is increasing, non-traditional lending sources are also becoming popular: the franchises themselves. Franchisors are becoming increasingly involved in the lending process, helping franchisees find capital by lending directly, guaranteeing loans and signing as equity partners.

 

Franchisors aren’t handing out money to just anyone. Much like a bank, franchisors will only lend to those who are qualified. For example, Hurricane Grill & Wings created a $10 million dollar fund to help qualified current and new franchisees develop new units.  Jersey Mike’s doles out funds to franchisees whose locations need an update so all units appear uniform. And, much like a bank, each franchise concept has their own requirements.

 

The current lending environment’s changes should signal to all the aggressive stance all franchise players have taken. Though the franchise industry continues to grow, competition for consumers’ dollars remains stiff.

Why a Down Economy is the Perfect Time to Become an Entrepreneur

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Anyone who recently graduated from college or lost their job through layoff knows how difficult it can be to find a new job. Not only are you competing against other graduates and laid off workers for the few available positions left in this down turned economy, but you have to hope that if you are lucky enough to land a new position you won’t wind up out on the street again in a few months.

 

So naturally the question has to be asked: Why would anyone want to put themselves through all that? And most people will probably say they wouldn’t, but they don’t know what else to do. Well, if you have ever contemplated starting your own business, now is the perfect time.

 

Resources are Less Expensive in a Down Economy

 

It’s happening at grocery stores and retail outlets, car dealerships and real estate offices. It’s happening in businesses all across the country. Prices are coming down, deals are being struck, and discounts are being offered. That’s why now is the time, when resources are less expensive, to strike out and start a new business.

 

The Small Business Administration (SBA) Office of Advocacy reports that since the mid-1990s, small businesses have generated over 60 percent of new jobs. A small business is defined as one with 500 or less employees. Plus the 2009 Recovery Act eliminates fees to borrowers and allows the SBA to guarantee up to 90 percent of each loan. Naturally having a conservative financial plan can help keep overhead costs low.

 

Talented People are in Abundance in a Down Economy

 

The fact is that there are a lot of people out there looking for the right business opportunity and not all of them have a great idea for starting a new company. But they do have talent and are eager to get onboard with a winning idea. Donnie Deutsch of the television show “The Big Idea” indicated in an interview that now is the time to find people “on the cheap,” whether that means employees or vendors.

 

That means savvy entrepreneurs need to put their networking skills to work and make a connection with people who they can partner with and who can help make the company a success. In fact, 64 percent of entrepreneurs surveyed for the book “Upstarts: How Gen Y Entrepreneurs are Rocking the World of Business” indicated they started their company with a partner.

 

The Larger Companies Cut Back in a Down Economy

 

According to Julie Lenzer Kirk, award winning entrepreneur and author, “As the economy is struggling, so are all those businesses with overhead and large payrolls. They’re busy bailing the water to keep their ships afloat. Starting up now, when you can be flexible and nimble means that you can float right by those sinking ships. After all, customers still need stuff – they’re still spending money, just not enough. The new business can be created to give them what they need – whatever that is – while everyone else is busy bailing.”

 

Plus as larger, established organizations cut their budgets because of decreased revenues, they are in no position to start a new venture. That means now is the perfect time for entrepreneurs to get started before someone else steals their great idea.

 

New Entrepreneur’s Have Less to Lose in a Down Economy

 

It may be scary, but college graduates especially have less to lose right now mainly because most of them don’t have a lot of financial commitments (except perhaps their student loans). They may still be living at home, without a mortgage or family to support, their needs are few and their willingness to sacrifice their own comfort is high.

 

In his article, “How Can Your Small Business Grow in a Down Economy?” small business coach Dave Westfall suggests that entrepreneurs not limit themselves. He illustrates how to expand a company by exploring other options, such as a private personal trainer now offering group training or a real estate property manager offering services to mortgage companies that want to rent out foreclosed homes.

 

It’s all about exploring options and finding those niche markets that others have overlooked or walked away from. And while it’s important that entrepreneurs select an opportunity that matches their interests and take the time to investigate it thoroughly, it is possible to become an entrepreneur in a down economy.

Stay Balanced With New Hotel Franchise

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Away from home while traveling our daily routines are often disrupted. The first habits to go? Working out, eating healthy foods, getting enough rest and keeping up with our work.   Who wants to break a sweat or to lift weights after traveling all day? Besides, not all hotel gyms are created equal. Most room services menus aren’t known for their healthy options and

 

InterContinental Hotels has created a new kind of hotel focused on wellness: Even.

 

The first location of the hotel franchise plans to open in 2013 and expects to open 100 locations in the U.S. over the next five years.

 

Even aims to keep guests on track and thriving while on the road by addressing their health, work, food, rest, exercise and wellness needs by speaking with the brand’s target consumers.

 

The hotel franchise’s website is currently surveying potential customers about their wellness habits and travel hiccups so as to address which issues are most important:

 

  • Is there anything that prevents you from getting work done on the road?
  • What keeps you from your exercise routine when you travel?
  • What keeps you from relaxing when you’re on the road?
  • What kinds of healthier foods do you wish were easier to find on the road?

 

Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge and Candlewood Suites are all InterContinental Hotel brands.

 

What do you think about this new hotel franchise brand?

Little Caesars Announces its New Deep Dish Style Pizza, Just in Time

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With the pizza business as competitive as ever, Little Caesars introduces its new Deep! Deep! Dish Pizza, as an answer to their three biggest rivals in the pizza industry arena: Dominos, Papa John’s and Pizza Hut. Little Caesars’ new menu item is fast-becoming the brand’s biggest product launch in its 54-year history, and has customers lining up to try their new line of deep dish options.

Deep Dish Little Caesars Pizza

The new product is a necessity for Detroit-based Little Caesars to remain a contender in the restaurant franchise industry. Holding true to their roots, Little Caesars bakes their new deep dish pizzas “Detroit-Style,” which refers to the caramelized-cheese crust that is signature to each pie. Each pizza is $8 a box, and is available as one of Little Caesars’ Hot-N-Ready offerings, which can be picked up at any time without calling ahead, between the hours of 4 p.m. and 8 p.m. each day.

With its famous $5 Hot-N-Ready Pizza deal, Little Caesars took the industry’s price to a new level, positioning it perfectly underneath the price points of its biggest competitors. The $8 price of its new deep-dish pizza aligns it directly with the promotional $7.99 price for Domino’s medium pan pizza.


Not only is Little Caesars holding its own in the pizza market, it’s also become one of the largest and most valued brands in the entire restaurant franchise industry. The pizza franchise concept offers a tremendous value with their high-quality pizza made with fresh ingredients. Little Caesars makes dough fresh in each store, uses fresh, never-frozen cheese and sauce made with vine-ripened tomatoes. Pair this with a price that can’t be beat, and it becomes understandable why Little Caesars has grown to be an international staple in the food industry and will continue to be a brand synonymous with quality for years to come.

IFA Creates Website to Help Franchises Deal with Obamacare

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Franchises are flummoxed by the Affordable Care Act. The new healthcare law continues to evolve, leaving a lot of confused small business owners in its wake. Which aspects of the employer mandate are franchisees responsible for complying with? How can they remain solvent without reducing their workforce and losing valuable employees?

 

The IFA has created www.MakingSenseofHealthCare.org to help businesses understand their compliance responsibilities and share testimonials and stories about how they’re dealing with the process.

 

Regardless of your political inclinations the Affordable Care Act is a big deal. The mandated health care coverage is expensive and small businesses are struggling to maintain profitability– which includes franchises.

 

According to the IFA, over one-third of full-time franchise jobs could be cut back or lost completely due to the Affordable Care Act. That’s over 3 million jobs. While Obamacare doesn’t take full effect until 2014, owners of fast-food, restaurant and service company franchises are urging Congress to make major changes to the ACA in order to save jobs and keep them in business.

 

One of the biggest components of the healthcare overhaul that’s causing grief is the discrepancy as to what constitutes a full-time work week. Obamacare says 30 hours; while most in the franchise industry believe 40 hours should be the standard. If Congress doesn’t amend the law franchises will be forced to cut employee hours back to below 30 hours per week.

 

Franchise business owners aren’t the only ones facing higher costs as a result of the Affordable Care Act. A 2011 Hudson Institute study shows that the franchise industry could see its costs increase $6.4 billion, much of which would be passed on to consumers.