Archive for September, 2010

Buy A Franchise – Government Data Supports Franchising

September 19th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

NEW GOVERNMENT DATA WILL HELP SUPPORT THE ECONOMIC IMPACT OF FRANCHISING

WASHINGTON, Sept. 14, 2010—The International Franchise Association said that new data in the 2007 Economic Census Franchise Report released today by the U.S. Census Bureau will provide new information to help determine the economic impact of franchising.  The Census Report was released by Tom Mesenbourg, deputy director of the U.S. Census Bureau, during IFA’s 11th Annual Public Affairs Conference being held here.

“Determining the economic impact of franchising is a key strategic priority for International Franchise Association in our efforts to showcase the importance of franchising to the U.S. economy,” said Ken Walker, IFA chairman and chairman and CEO of Driven Brands.  “This 2007 Economic Census Franchise Report will provide valuable data for the IFA’s third edition of the Economic Impact of Franchised Businesses, conducted by PricewaterhouseCoopers and scheduled for release during the International Franchise Associations’s convention in February 2011.”   

Walker said that the report was the result of cooperation between International Franchise Association and the U.S. Census Bureau to include questions on franchising in the economic census for select industries. The new report includes national-level estimates by industry sector of franchise establishments, employment in franchised businesses, and payroll and sales from franchised businesses. The report includes data from businesses with paid employees in nearly 300 industries.   

 “Franchising plays a vital role in our nation’s economy and drives new job creation,” said Walker. “This new report represents the first comprehensive ‘census of franchising’ by the government and demonstrates that franchise businesses provide many options for entrepreneurs who may be considering starting a franchise business. We appreciate the efforts by the Census Bureau to collect and make this data available.”

The Economic Impact of Franchised Businesses, Volume 3 scheduled for release in February 2011, will expand on the 2007 Census report, with additional data from businesses without paid employees.  Like the previous reports, Volume 3 will also include estimates of the indirect impact due to the products and services that franchises purchase from other businesses.  Volume 3 will include measures of both GDP (Gross Domestic Product) and economic output. The report will include breakouts by line of business, by state and Congressional District.   

These economic research reports are conducted by the International Franchise Association’s Educational Foundation to foster a better understanding of franchising’s role in the free enterprise system, its contributions to the U.S. economy and the variety of paths franchising provides for entrepreneurs to become business owners.   

To view the 2007 Economic Census Franchise Report  click here

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 2% [?]

Buy A Franchise – Economic Franchise Report

September 18th, 2010

   

(Buy a Franchise, Seattle Franchise, Bellevue Franchise)

Franchises with paid employees make up 10.5% of U.S. businesses, according to the Economic Census Franchise Report. Keep in mind that this number does not include the millions of Franchises that have no employees.  The report also notes franchise businesses employ 7.9 million workers and account for sales of nearly $1.3 trillion. “We are pleased that the U.S. government has recognized franchising as a significant business model,” International Franchise Associations’s Alisa Harrison said. “Census officials told us they received a very good response to their franchise questions and so we feel we have a fairly accurate snapshot of franchises with paid employees.”

This information is gathered on an annual basis, and is very important to understand when analyzing the U.S workforce.  The numbers continue to show and indicate that the Franchising modes is a very significant contributor to U.S. GNP.

(Buy a Franchise, Seattle Franchise, Bellevue Franchise)  


Popularity: 2% [?]

Buy A Franchise – Franchise Financing

September 17th, 2010

500 Franchise Leaders Gathered in Washington This Week to Urge Passage

After nearly two years of intensive lobbying by members of the International Franchise Association, franchise businesses are closer to improved credit availability with the passage of a provision by the Senate that increases the Small Business Administration’s loan limits from $2 million to $5 million, IFA said today.

“We applaud the Senate for passing this top priority for franchise businesses,” said IFA President and CEO Stephen J. Caldeira.  “We urge the House to quickly address the same provision so franchise small businesses can expand into new markets and help the U.S. create 450,000 to 600,000 new jobs within the next 12 to 18 months.”

Caldeira said this was the message that over 500 franchise business leaders delivered to Congress this week during the 11th Annual IFA Public Affairs Conference. Credit access has been a top priority for franchise businesses and IFA has worked relentlessly to educate Congress that increased credit access means more jobs for the country. The attendees explained to their members of Congress that franchise businesses provide for over 21 million jobs and create $2.3 trillion in economic output.  For every $1 billion in lending, franchise businesses can create over 40,000 jobs and $4.2 billion in economic output.   

The Small Business Jobs Act passed by the Senate includes the SBA loan limit increase, as well as an extension of the 90 percent loan guarantee rate through the end of 2010, which will help to encourage banks to participate in the SBA program. 

“Nearly 50 percent of our members cite access to capital as the most pressing issue they currently face,” Caldeira said.  “These provisions will provide existing small businesses and aspiring entrepreneurs access to the capital they desperately need.”   

For example, as featured in a  new ad  appearing in Washington area publications, Pat Luers of Centerville, Ohio, who opened his first BrightStar franchise last year and created 40 new jobs in his community, would like to open more locations. However, he is having trouble accessing additional credit to make that happen. The ad states that with access to credit and sound regulatory policies, franchise businesses like Luers’ can create new jobs and help to get America back on the path to economic recovery.   

“The credit provisions and tax credits in the Senate bill are important first steps in helping franchise businesses create jobs,” Caldeira said.  “However, we urge policymakers to also address the uncertainty among business leaders and consumers about potential legislative and regulatory policies that could hamper progress.  By sending a signal that policymakers are willing to fix onerous provisions in the health care reform bill and extend pro-growth tax relief for all taxpayers, they can create a business environment where banks and businesses are more confident moving forward.”

Popularity: 4% [?]

Buy A Franchise – Financial Services

September 16th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Choosing a financial services company is an important decision that can affect the success of your Franchise business. To succeed, you need a company that can give you the flexibility to meet your short and long-term financial and strategic objectives.

I have several available solutions, that enable you to encourage business growth, preserve cash flow, leverage important tax benefits and are customized for you – the business owner. Specialized equity programs,  can provide you with extremely fast and friendly turnaround on all of your transactions, coupled with highly competitive rates and truly personal service.

Contact me with your available questions.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 2% [?]

Buy A Franchise – Furniture Medic

September 15th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

If you have been looking for a low cost Franchise, with an excellent reputation, that Furniture Medic Franchise may just be the Franchise you have been searching for.

Short Description:
Furniture restoration and repairs

Public / Client Description:
FurnitureMedic, the world’s largest and most respected franchisor in furniture repair and restoration, was founded in 1992. Services can be provided on-site to residential and commercial customers. The Furniture Medic network has grown quickly thanks to market demand, the system’s professionalism and its alliance with The ServiceMaster Company, the world’s largest service franchising company. The company has performed so well, Entrepreneur Magazine has recognized Furniture Medic as the #1 furniture repair and restoration franchise in the country for ten years running. In 1996, Furniture Medic was acquired by The ServiceMaster Company. The Furniture Medic network has grown to more than 500 locations across the United States, Canada, and the United Kingdom. Headquartered in Memphis, Tennessee, Furniture Medic is one of nine ServiceMaster Consumer Services companies which offer a wide range of related home maintenance, commercial cleaning and restoration services. The other companies include: ServiceMaster Clean, Merry Maids, AmeriSpec, TruGreen ChemLawn, Terminix, and American Home Shield. This franchise can be run as an owner operator or grown with additional technicians.


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Background Financial Terms Training and Support
  • Year Established: 1992
  • Year First Franchised: 1992
  • Franchised Units: 500 (330 in U.S.)
  • Company Owned Units: 0
  • Projected New Units (12 months): 50
  • States/Countries Registered In: All
  • Cash Investment: $15,000-$20,000
  • Total Investment: $50,000
  • Minimum Net Worth: $75,000
  • Franchise Fee: $24,500
  • Royalty: 7%
  • Ad: 1%
  • Average # of Employees: 1-10
  • Passive Ownership Allowed: No
  • Discounts: 10% Minority / 15% Veteran
  • Financial Assistance Provided: Yes-up to 80% of franchise fee ($24,500) plus start-up equipment ($12,500) if credit-qualified
  • Site Selection Assistance: No – this is a home-based business
  • Lease Negotiation Assistance: Not necessary
  • Co-operative Advertising: No
  • Training: 2 weeks at Memphis, TN Furniture Medic Academy followed 90 days later by a 1 week Post-Academy. On going training at Regional Meetings.

Franchise Reviews (The Inside Scoop):

Date # Comments
11-21-2008 10 Furniture Medic offers In-House Financing to qualified applicants of 80% of Franchise Fee and Products & Equipment. First 12 months interest only for 7 year term.
10-02-2008 07 I like this concept. Their parent company is solid. They are low cost. They handle clients well.

 

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 2% [?]

Buy A Franchise – Unified Thinking

September 14th, 2010

 (Buy A Franchise, Bellevue Franchise, Seattle Franchise)

The entire process of due diligence, for both a Franchisor and a Franchise Candidate, should be about determining whether there is unified thinking. My counsel is to step back at the end of your due diligence process and ask yourself the following question: Did the process help both parties to determine if they have unified thinking about the business at hand? If the answer is not yes, then you’ve either got more work to do, or something with the system is not right, and you should examine alternatives.

Franchising is about finding the right strategic-partnerships to allow both parties to prosper at a higher level together than they would if they were not to enter into an agreement to do business together.

Franchising is the Franchisor’s strategy to penetrate and dominate a marketplace – simultaneously. You’ve got to be comfortable with the Franchisor’s strategies to do just that. If those strategies make sense to you, it can be a great ride in achieving success together. It can be a great ride in building a brand that increases in value as time marches on. Franchising is also the Franchisor’s strategy of pooling resources. Those resources include the resources of the Franchisor, as well as those of the individuals that join the system as Franchisees including their ideas, talents, motivations, financial and management resources.

If you are comfortable with these basic concepts of Franchising, you should then assess your needs, wants and desires to make sure that they can be met with a successful Franchise in the system. You should also bring to the surface all of your fears, uncertainties, and doubts to determine if you feel you can help solve them with the business of the Franchisor, and the future you can create for yourself with that business. The worst thing you can do is leave them buried.

Then there are the basic pragmatic questions. Will the Operating Systems of the Franchisor help you to deliver the business products and services more efficiently, and will they help you avoid re-creating a whole slew of wheels? Will the Support Systems help you to deliver the products and services better and better over time? Will the Brand continue to increase in value for your benefit?

Finally, can you see yourself reaching your goals, dreams and objectives by operating a successful business in the Franchisor’s system? Will the Franchise help you to achieve those goals and dreams?

If the Franchisor’s strategies make sense to you, and you can see yourself achieving your goals and dreams through the Franchise and its systems, then you have unified thinking – and the sky can be your only limit.

  (Buy A Franchise, Bellevue Franchise, Seattle Franchise)

Popularity: 3% [?]

Buy A Franchise – Robek’s

September 13th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

If your desire is to own and operate a successful Smoothie and Health Food Franchise, then Robek’s Franchise may just be the Franchise you have been looking for.

Short Description:
Fruit smoothies and healthy foods

Public / Client Description:
At Robeks, our passion is to help people lead active and healthy lifestyles by offering the highest quality nutritional food products and supplements. Our blended-to-order fruit smoothies provide the perfect quick and energizing meal for consumers that are increasingly on the go.

We have developed a loyal customer base that enjoys Robeks products for nourishment throughout their day. Whether it’s an energizing pure fruit smoothie, a high-protein muffin with a fresh-squeezed juice for breakfast or having a nutritious smoothie with a sandwich or fresh made salad for lunch, we provide a broad menu of wholesome foods and beverages to help you feel and look your best. To enhance overall health and wellness, we offer a proprietary line of Robeks Nutritional Boosts to enrich our smoothies and retail supplements that are conveniently packaged for everyday use. Every product we develop is true to form – always good for you, always the best in quality.

Established in 1996, Robeks has developed a distinctive brand, line of unique product offerings and streamlined operating system. Our comprehensive store development, training and marketing programs are well documented and supported.


Background Financial Terms Training and Support
  • Established: 1996
  • 1st Franchised: 2000
  • Franchised Units: 160
  • Company Owned Units: 1
  • Projected New Units (12 Months): 130 by 12/31/07
  • Registered: All except ND and SD
  • Cash Investment: o Single = $100k o 3-Pack = $250k o Area Development = $80k
  • Total Investment: $227,400 – $360,100 (per unit – includes fees, build-out, lease, working capital, inventory)
  • Minimum Net Worth: o Single = $350k o 3-Pack = $500k o Area Development = $300k per unit net worth – minimum of 5 stores
  • Financial Assistance Provided: No, however Robeks works closely with financial institutions such as CIT / SBA to qualified applicants
  • Site Selection Assistance: Yes
  • Lease Negotiation Assistance: Yes, for approved franchises
  • Co-Operative Advertising: Yes
  • Training: Classroom and in-store training to include all systems, procedures and programs as well as complete practical understanding of how to successfully operate a Robeks store.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 1% [?]

Buy A Franchise – FASTSIGNS

September 11th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Here is an excellent opportunity for you to own a Sign Industry Franchise, with a history of suceess.  then the FASTSIGNS Franchise just may be the Franchise you have been looking for.

Short Description:
Signs and graphics solutions

Public / Client Description:
FASTSIGNS® is a recognized leader in the sign industry with over 560 franchised units in six countries — the United States, United Kingdom, Canada, Mexico, Brazil and Australia (operating under the SIGNWAVE® brand). Our per-store gross sales average is the best in the industry by far.* In addition, our franchisee satisfaction has never been greater! FASTSIGNS® was recently recognized as #1 in Business Services and #5 overall in Franchise Business Reviews Annual Top 50.


Background Financial Terms Training and Support
  • Established: 1985
  • 1st Franchised: 1986
  • Franchised Units: 483
  • Company Owned Units: 0
  • Projected New Units (12 Months): 35
  • Registered: All States
  • Cash Investment: $75K
  • Total Investment: $208K-322K (includes $32-50K)
  • Minimum Net Worth: $240K/$75K liquid
  • Franchise Fee: $20K
  • Royalty: 6%
  • Ad: 2%
  • Average Number Of Employees: 3 FT
  • Passive Ownership: Not Allowed
  • Financial Assistance Provided: Yes / 3rd Party
  • Site Selection Assistance: Yes
  • Lease Negotiation Assistance: Yes
  • Co-Operative Advertising: Yes
  • Training: o 3 weeks at headquarters o Up to 2 weeks on-site Grand Opening

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 4% [?]

Buy A Franchise – Concept of Franchising Part 2

September 10th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

 This is Part 2 in my series defining the Concept of Franchising:

Get

Most people “get” this one. This is sales and marketing. Peter Drucker said there are only two things that create value in business – sales and innovation. The rest are costs.

I would suggest that many companies tend to become happy with their existing suite of customers. Or they land the “big one” and all is good. I would also suggest that if there are not constant strategies put in place to continue to get new customers, to get new blood, then stagnation will follow. Landing the “big one” can actually put the business in a very precarious position. It’s called over-trading. If the business relies too heavily on one source for its revenues it can be in big trouble if something goes wrong with that customer.

The solution to over-trading, and to keep generating a steady stream of new customers in order to keep any business vibrant and moving forward, is to implement great “get” strategies. And never quit. That’s certainly not rocket science, but it is a basic tenet of long term survival.

General Motors should have been trying to figure out how to “get” Japanese customers in the 1970s. That would have led them to understand how to “keep” North American customers. Enough said.

Satisfy

A lot of people really miss the boat on this one. I actually saw a truck drive by me recently that had a slogan on the side in proud, bold letters that said “We Deliver Satisfied Customers”. They seemed to be quite proud of the fact that they actually provided what they sell. All customers for all businesses expect to be satisfied or they wouldn’t complete the business transaction in the first place. Boasting that customers are satisfied is like saying, “we don’t rip you off”. Well, as Chevy Chase used to say, “big deal and thank you very little”.
Satisfaction must be a given. It is required for survival. It is certainly one of the four main purposes or objectives of business, but it is so often misunderstood. Satisfaction is what people buy, so they expect it to be delivered. We must constantly be wary of what customers expect in order to be satisfied, and it’s an ever-increasing standard. However, it’s nothing to brag about. It’s just what you sell.

In a book called “If It Ain’t broke, Break It!, Robert Kreigel wrote, “Embrace the unexpected. The only thing that won’t change is that everything will keep changing. Today’s skills, knowledge, and products live fast, get old before their time, and die young. The overnight letter, which was the innovation of the 1980s, is now used only when you’re not in a hurry.” He wrote that message 15 years ago! It’s a clear, and still valid, indication that we need to continually re-tool to meet customer satisfaction goals.

Keep

If satisfaction is a constantly moving target, and satisfaction requires ever-increasing effort and commitment, then to keep customers requires more than just satisfaction. Customers expect satisfaction. They buy satisfaction. People will copy satisfaction. If that’s all that is provided, then it comes down to price, and that’s a losing game no matter what business is at hand. Therefore, strategies are required to provide more than what the customer buys, in order to maintain long-term trusting relationships. Michael Vickers says to “take a standard service offering and up-level it.” That defines the “keep” strategies that a business must employ. Ignoring this one will again create stagnation or denigration.

Grow

Most of us have heard that it is less expensive to do more business with existing customers than to obtain new ones. It is my belief that you must do both.

In order to do more business with existing customers, there have to be consistent strategies in place to educate them about new products and services. In addition, you must understand their business, particularly as it changes, so that it becomes apparent when your products and services can be provided. You must also put practices in play to ask for more business. Complacency is too often the norm when opportunities are in front of us. Companies that implement processes to ensure these things are managed will continue to grow business via the grow strategies.

The grow strategies also include asking existing customers to support you in your business growth through others. It’s surprising how many people would be willing to help if they are requested to do so. Things like referrals, testimonial letters, agreeing to act as a reference, and introductions to their association are all offshoots of this strategy.

So there you have it. These are the four basic objectives of any business. Business needs strategies and formulas to continually get new customers, satisfy them, which is an allusive and demanding standard, keep them, which requires more than delivering what you get paid for, and grow business with them or with their help. These are the basic concepts of business, and they must be at the heart of every good business, and every good Franchise system. Evaluating a Franchise system should include an assessment of how well the Franchisor understands these concepts, and how well they execute strategies to make them happen.

Buy A Franchise, Seattle Franchise, Bellevue Franchise

Popularity: 3% [?]

Buy A Franchise – The Concept of Franchising

September 9th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Today I am going to deviate from providing information regarding many of the Franchise Opportunities that are available in the marketplace, and focus on the Concpet of Franchising itself.  .

In order to truly understand the concept of Franchising, an exploration of the basic concepts of business is required. There is no magic in that. It just makes sense in order to provide clarity about the Franchising strategy.

Franchising is not a business in itself. It is a business strategy. It’s a business system. That’s a significant distinction that isn’t always clear. McDonalds is in the fast food business, although many people feel they are really in the real estate business, while others think they’re in the entertainment business. Regardless of that discussion, they are not in the business of Franchising.  Ramada is in the business of operating properties. Snap-On Tools is in the business of selling tools, etc.

If someone says to you that they’re in the business of Franchising, they don’t really get what they’re doing. It’s all about the customer, and if the focus is not on the customer and their needs, then something is awry. Customers don’t need a Franchise. They need hamburgers, telecom consulting, hotel rooms and tools. So therefore Franchisors are not in the business of Franchising.

There is a credo that says that “Good is the Enemy of Great”.  First of all, if greatness is to be achieved, focus must be completely on the customer.  You have  to strive to have your customers clamor for your services. If we’re satisfied with being good at it, they willl never be great.  If we want to be great, our focus must be entirely on the customer to achieve that goal.

Purpose of Business

O.K, so let’s look at the purposes and objectives of business, regardless of whether the goal is to be good, or great.  I don’t think anyone has a goal to be bad, so we’ll leave that one out.  First of all, the basic purpose of business is to make money.  It is not about your way to give back to humanity.  That’s a charity.  People that wish to be in business for themselves are doing so in order to make money.  That shouldn’t be a surprise to anyone.

So how do all businesses make money?  As stated above, they focus on the customer.  Therefore, the purpose of daily activities, the objectives of business, are to get new customers, satisfy those customers, keep the customers, and grow business, either with, or through those customers.

Get, satisfy, keep, and grow.  There you have it.  These are the purposes of business.  The other four will be discussed in Part 2.  You can’t think of a transaction that happens in business that isn’t aimed at one of these four things.  The key is to understand that they are four distinct things, and they each require distinct strategies designed to achieve excellence in all four areas if greatness is to be achieved.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise).

Popularity: 2% [?]

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