Tag Archives: franchising

The Importance of Diversification

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Many feel that if managed properly, owning a diverse set of businesses can help insulate against business peaks and troughs in the market. Many wealth planners will generally present diversification models to allow the purchase of multiple asset classes such as stocks, bonds, and mutual funds. Diversification in the franchise industry is different. Franchisees can diversify within a particular industry by acquiring different brands.  Diversifying within the same industry, such as the buying several different restaurant brands, still allows the franchisee to apply the same basic infrastructure to their business.

This strategy of franchising helps spread the risk from a franchisee’s perspective. If the demography of existing brands and new brands are vastly different, there becomes an opportunity to cross-market both products and knowledge. Aziz Hashim, the president and CEO of NRD Holdings, LLC, highlights a smart way to diversify in his recent piece in Franchising World about this topic, stating that “The most effective way to execute a diversification strategy is to identify opportunities in new sectors where the operational complexity is generally lower than the existing operations so as to not dilute the franchisee’s time and focus, where at least some existing infrastructure can be leveraged and ideally where there are natural synergies through complementary service offerings and similar demographic.” Complementary service offerings can play a key role in expanding your opportunities and create growth.

Do you own a diverse set of businesses? We would love to hear feedback from you!

A Growing Market Battles for Pad Sites

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With a market that continued to expand through the recession, fast casual dining restaurants are now battling over limited pad sites. What is a “pad site” you may ask? Pad sites are those outlots that sit in front of shopping centers and grocery stores. The appeal of these sites comes from them being centrally located in highly trafficked parking lots, such as shopping malls, strip malls, and large stores with massive parking lots like Lowes and Home Depot.

While these pad sites are especially appealing to restaurant franchises such as Checkers and Rally’s, more recently non-traditional retailers, including clinics, dentists, and chiropractors are now pursuing these retail sites. Medical facilities are trying to provide more convenient locations for their customers, and what is more convenient than a place situated smack dab in the middle of a busy parking lot?

Due to a peak in interest surrounding purchasing pad sites, prices for these small plots of land have gone way, way up. Small sites in certain areas can be upwards of $1 million just for the property itself. Companies like Checkers and Rally’s prefer sites that are prices closer to $500,000. The high demand but low quantity of these sites in many areas is leading to many battles over prime pad sites, where multiple offers are made and one franchise must be another one out for the space.

Using LinkedIn For Your Business?

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I have been paying a closer attention lately to the way in which franchise professionals utilize social media platforms. Specifically this week, I wanted to take a closer look at how LinkedIn is being used in the franchise industry. LinkedIn is a hot topic in the social networking realm right now. Everyone wants to know how to best leverage LinkedIn for their various needs. Franchisors, franchisees, and suppliers all see opportunity in the networking site, but many question how exactly they can use the platform to their benefit.

With a database of more than 238 million individuals, LinkedIn provides a great pool of prospective franchisees and customers. How can franchise professionals tap into this resource? They can start with their profile page. A new article in Franchising World’s November issue gives some tips about how you should go about revamping your page. First, look at your page from an outsider’s view. Does it read like a resume? If you’re seeking employment, that is one thing. But if you are not, it may be time to rewrite your profile to target whichever prospect or customer or prospective employee that you would like to engage.  People are using LinkedIn to better know you. You must actively choose a message: what do you want people to know about you and your company?

The article says that as you read through your LinkedIn profile, you must ask yourself whether your profile answers these questions that the reader may have:

–          Should I pay this person money?

–          Can I trust this person?

–          Can this person help me with my objectives (franchise ownership, employment, doing business)?

–          What benefits does this person and his company provide?

–          Does this person have the ability to help me make a significant decision?

–          Does this person look trustworthy and credible?

 

What is all really comes down to is making your profile a welcome mat to your company. You want to seem approachable, communicable and transparent. People want to do business with people they like and feel at ease with. Let your LinkedIn profile be a peak into your company’s missions and future goals. What LinkedIn tips do you have for fellow franchise professionals?

Power to the People?

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Lawmakers in Maine, California, Pennsylvania and Massachusetts have introduced bills that would give franchise owners a lot more leverage. These new rights and options would offer new opportunities to franchisees, including allowing them to join and support franchisee associations, as well as make renew agreements with their franchiser under the current terms much easier. While there are mixed opinions on the legislation, it seems many are in favor of the new bill giving franchisees more power in their businesses. Others have issues with the bills, feeling that giving franchises more freedom could potentially “tarnish the brand.”

Maine’s new legislation bill is perhaps the most far-reaching. LD 1458, which includes a series of big stipulations, if passed, could do the following:

  1. Allow franchisees to close their stores between 10 p.m. and 6 a.m.
  2. Let franchisees renew their licenses without an increase in royalties or new fees
  3. Give franchisees the power to set their own prices on products and services

The new laws had me question what might be empowering this recent movement. Perhaps, at least in part, the desire for more flexibility for individual franchisees may be fueled by the fairly recent local movement in most communities. Locality is becoming highly valued, in terms of sourcing (ex: food) and workers. People want Joe down the road running his frozen yogurt restaurant, not the frozen yogurt’s corporate headquarters. Secondly, I think that the internet may play an influential role. Today, franchisees are able to communicate more effectively than they were a decade ago because of the rise of social media. Accessibility to one another thoughts and ideas are bringing people closer, and therefore strengthening their case.

How do you feel about the proposed legislation? Leave your comments below!

Technology and Franchising: The Future in Google Glass

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Franchising World, the International Franchise Association’s official magazine, published a really interesting article this month about Google Glass and the role it will play in franchising in the future.

As many know, Glass is the latest in technology innovation: a sleek (albeit slightly dorky looking) pair of glasses that acts like a smart phone. You can take phone calls, read and send emails or text messages, search the internet, translate simple phrases, receive turn-by-turn directions, take pictures, record videos, post updates to social media sites, automatically track your flight status or other events, and even make video calls. When you place the device on your head, a small display hovers just in front of your right eye (not in front of it, so you can still see normally.) There is a small touchpad on the side of the glasses’ frame that allows you to navigate its computing platform.

If all of that isn’t enough, technology analysts are now looking at the way that this device could eventually change hyperlocal marketing as we know it. What are some of the ways that they might change the franchising industry? Here are some of the speculations Ken Colburn has:

1. Training. The device could reduce the cost of creating video training libraries. With the ability to record high-definition videos from the first person perspective, training videos no longer need to be filmed by an expensive videographer. First-person training videos could capture point-of-sale interactions. Just by having seasoned employees wear Glass for a couple of hours, you could have a bunch of great, real footage for new employees. Trainees could also wear the glasses during their first few shifts, with the manual or reminders available literally right in front of their eyes.

 

2. Field Support. Glass makes it easy to gather information, complete with time and date stamps. Field support teams could quite easily document their visits with photographs, videos and verbal notes that can be backed up to Google’s cloud resources. The possibilities are almost endless.

 

3. Marketing.  Here’s where the money is at. Apps on Glass can alert users on local points of interest based on their location. For example, an app called Field Trip currently makes a sound every time you walk past a historical site. This technology could help franchises bring advertisements and coupons closer than ever.

 

While Glass is nowhere near its prime yet, as the technology evolves, I can expect we will see big things. The device’s technology offers a whole new platform for franchises to utilize. What do you think is in its future?

Leave thoughts below!

It’s in the Water: Brooklyn Water Bagels

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What makes a good bagel good? Any New Yorker will tell you it’s the water.

Bagels, first introduced to America by Polish-Jewish immigrants in the 1880s, have become a signature bread in New York City and its surrounding boroughs. When Polish immigrants passed through Ellis Island, they brought with them the delicious recipe, which is said to be made best with New York City tap water.

Many New York bagel enthusiasts claim that when transient populations of New Yorkers first got down to places like South Carolina and Florida and began making bagels, they realized that while their flour and ingredients were the same, their bagels did not taste the same. The missing ingredient was, of course, the tap water. New York City tap water has a pH level of 7.2; whereas a pH of 7.0 is considered pure water. The pH level affects the way in which proteins in the mixture denature, and therefore can cause a change in the way the yeast rises and the dough tastes.  Additionally, New York City water has optimal quantities of calcium and dissolved minerals, strengthening the wheat protein and causing the bagel to taste chewier – a texture many bagel lovers enjoy.

So what is a bagel shop in Florida to do? In steps Brooklyn Water Bagels, a bagel shop franchise originated in Delray Beach, Florida. The CEO, Steven Fassberg, a Brooklynite relocated to the Delray area, began working on recreating New York City’s tap water with his own machinery, adding ingredients like calcium and magnesium to replicate the makeup of the water.  When he perfected the water, bada-bing, he began making bagels that tasted just like a New York authentic bagel.

Today, Brooklyn Water Bagel has locations all over the country. Serving everything from breakfast sandwiches to iced coffee made with frozen coffee cubes, Americans everywhere can enjoy a good ol’ New York bagel.  The proprietary water treatment technology system that the franchise has at each location “Brooklynizes” the water, as they call it, and is designed “to provide limited maintenance operation for the franchisee via satellite monitoring of each store’s water system to ensure consistent quality.”

Is there a Brooklyn Water Bagels near you? Leave comments below!

Franchise Profile: Decor&You

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Decor&You offers exciting opportunities in the growing $200 billion dollar home furnishings industry.

 

The Decorating Industry is Booming

Being a Decor&You® franchisee is all about having a passion for building a team, motivating and helping others to achieve success. Decor&You offers the opportunity for you to apply your skills building a decorating firm in the 200 billion dollar home furnishings industry.

 

Decor&You® Creates Unique Value

Decor&You works to simplify how people achieve comfort, style and value in their homes and businesses. Clients open their doors to their DecorPlan™ that leads to a uniquely individual environment. Their commercial clients love the benefits of occupying interior spaces that emphasize brand personality and character. Decor&You’s decorators capture and reflect brand values in each DecorPlan they create for the offices, restaurants, waiting rooms and hotel rooms their commercial clients own or lease.

 

Like their clients, Decor&You franchise owners are attracted to this business searching for a space they love, too – in this case, a rewarding profession and an empowering life. They discover the DecorPlan System: a successful, proven business model for achieving beautiful, fully-decorated interiors. They learn the business in their dynamic Professional Education Program. They find a culture of performance enhancement through their system tools designed for a quick ramp up. They can also look forward to “hands-on” management, which comes with a high level of attentive service that is increasingly rare in the American business landscape.

Maui Wowi Hawaiian Coffees & Smoothies Sails into Southwest Florida with New Location

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Maui Wowi Hawaiian is spreading fast as it prepares to open another store in the Sunshine State at the Miromar Outlets in Southwest Florida. Maui Wowi specializes in serving freshly blended fruit smoothies alongside a line of premium roasted Hawaiian coffees. Franchise owner Muhamad Barazi will soon be sharing the Maui Wowi products with shoppers and visitors this fall.

 
“Maui Wowi is all about people being happy and enjoying healthy beverages,” said Barazi. “I believe in the coffee and smoothie business and am ready to dive in and get involved; it’s not in my nature to sit down.”

 
This new store at Miromar Outlets will be Barazi’s first location. The outdoor shopping center features over 120 retail outlets and was recently voted best shopping mall in Southwest Florida. Located at 10801 Corkscrew Rd. in Estero between Naples and Fort Myers, the beautiful beaches and palm tree lined streets of the surrounding area make it an ideal destination for Maui Wowi.

 
For over 30 years, the company has proven itself as a leader in the beverage market with its unique dual concept, high quality beverages and authentic Hawaiian products. The smoothies are gluten-free and made using all natural ingredients, making them stand out from the competition.

 
Barazi’s Maui Wowi store will be opening this fall on the heels of three other Maui Wowi locations. The most recent store to open is also located in Florida in the bustling community of Boynton Beach. Two other stores are set to open in the coming weeks in Wantagh, N.Y. and Mt. Juliet, Tenn. In addition to the thriving retail model, Maui Wowi adds to the diversity of its concept with a mobile unit, known as the Ka’anapali Cart, which can be found at events,venues, and catered functions throughout the country.

 
For more information about this location or franchising with Maui Wowi Hawaiian, please visit http://franchisebuy.com/franchise/Maui-Wowi-Hawaiian-Coffees-and-Smoothies.

 

 

About Maui Wowi Hawaiian Coffees & Smoothies:
Since 1982, Maui Wowi Hawaiian has embraced the Hawaiian culture and has been serving paradise in a cup since the day it began, 30 years ago. From event carts, mall kiosks and stand-alone retail locations Maui Wowi Hawaiian offers premium, all-natural, gluten-free, fresh-fruit smoothies, as well as gourmet Hawaiian coffees and espresso beverages. With over 400 operating units in eight countries, Maui Wowi Hawaiian has truly gone “Global” by adding an online store, shop.mauiwowi.com. Now customers from anywhere in the world can experience the prized-gourmet Hawaiian coffees and taste the ‘Aloha Spirit’ with a ‘Click-of-a button!’ To learn more information about Maui Wowi Hawaiian’s, products, locations, or flexible, low cost franchising opportunities, visit http://franchisebuy.com/franchise/Maui-Wowi-Hawaiian-Coffees-and-Smoothies.

Join Club Z! And Cash In On the 10 Billion Dollar Tutoring and Test Prep Market

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No Experience Necessary.

Club Z! In-Home Tutoring is seeking professionals that possess strong management skills. Their franchise owners do not need prior tutoring/education related experience to be successful. In fact, their top producing franchises have come from various industries completely unrelated to Education.


Their owners don’t tutor or teach. 

Club Z! franchise owners manage a staff of tutors that provide one on one instruction for students and business professionals in the comfort and convenience of the student’s home at an extremely competitive rate. If you have a desire to start a business of your own, follow a proven business plan, and want to team up with industry leaders, then Club Z! could be for you.

 

The Opportunity.

The private tutoring market continues to boom, even in a soft economy. The tutoring market in the United States is estimated at over 9 billion dollars a year. Worldwide, the tutoring market is projected to reach 100 Billion dollars by the year 2017.  The main reason for growth is colleges and universities becoming increasingly selective in whom they will admit.  This is and will continue to be a key market driver for years to come.

 

Are You Ready to take control of your Future?

 Club Z! has made Entrepreneur Magazine’s Annual Top 500 Franchise List for the last 7 years:

  • #1 In Home Tutoring Company (2010)
  • #101 Overall Franchise 500 (2010)
  • #29 Top Homebased Franchises
  • #27 Low-Cost Franchises
  • #83 America’s Top Global Franchises
  • #9 Top New Ranking (2009)

 

The Club Z! Advantage.

Club Z! has designed their franchise to be among the most reasonable in the tutoring industry. Their franchise package is currently $29,750. An additional $6,000 to $10,000 is needed for start-up expenses and advertising. For more information on how to start your own Club Z! franchise, please visit: http://franchisebuy.com/franchise/CLUB-Z-IN-HOME-TUTORING.

Franchise Profile: Snap Fitness

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Snap Fitness Has The Answer 

In today’s fast paced world, it’s difficult for people to commit to an exercise program due to busy, unpredictable schedules. Snap Fitness franchise will help bring affordability and convenience to the neighborhoods of people across America. Their proven concept substantiates the fact that many people will forgo “big box” health club concepts in lieu of convenience and affordability.

When opening a Snap Fitness franchise, you are sure to provide a convenient fitness option in your area. With their 24-hour a day card-key locking system, your members will appreciate a secure work out environment 24 hours a day, 7 days a week. One of the primary benefits of owning a Snap Fitness franchise is the convenience it provides for both its owners and members. As a Snap Fitness owner, you will benefit from their unique system, which incorporates the use of surveillance cameras, along with a certified trained staff to keep your operating costs low. Our system provides you both balance and freedom to own and manage up to three locations by yourself.

What Makes Snap Fitness Unique? 

The Snap Fitness franchise concept is the wave of the future, regardless of the condition of our Nation’s economy, people always appreciate good value. With single memberships as low as $22.50 per month, your Snap Fitness franchise provides a great alternative to the big box health club concepts available today:

  • Priced affordably, great perceived value
  • Convenient 24 hour a day access
  • Low operating overhead
  • State of the art commercial grade equipment
  • Clean, safe environment

 

 

How do I get started?

The first step in owning your own Snap Fitness franchise is by filling out the form here: http://www.franchisebuy.com/franchise/SNAP-Fitness. By providing Snap Fitness with your contact information, a representative will contact you and walk you through the franchise approval process.