Overview of Bank Lending to Multi-unit franchisees
An overview that won't overwhelm you
How to Land A Multi-Unit Franchise Loan
Directors of the nation's top lending programs offer the following suggestions to multi-unit franchisees seeking loans
What Franchisors are Doing for Their Franchisees
Franchisors are now addressing the franchisee’s inability to develop and fulfill their development obligations.
From the Kids Menu
Casual dining continues to keep children in mind
Sourcing Deals
Private equity making a public comeback
Small Business Insider:
10 ways potential franchisees can land a loan
Good Idea
Nonprofits ‘do good’ by doing better business
Uncivil Service
The first step in providing good customer service is to recognize where it can go terribly, horribly wrong
Now Read This:
New health care law means big changes for businesses, taxes
Red, White and Business Savvy
Veterans, minorities often possess special skills to succeed in franchising
Proactive Financing
Benetrends becomes proactive in defending its finance product
Conversion Success
Franchises trim costs by converting ‘second-generation’ spaces
The Secret Sauce
How to blend, simmer and stir up your organization’s workforce
What Health Care Reform Means for Your Business
No big changes ... yet.
What’s the New Normal in Consumer Spending?
Now that the economy is improving, how will consumer attitudes change? Will shoppers go back to bling, downshift to “blingette” or simply shut their wallets and become as financially conservative as their grandparents?
How to Protect Private Information Over Public Connections
If you’re thinking about offering free public Wi-Fi at your franchise, there may be some security issues you should be aware of. Here’s something to consider from our technology expert, Roman Lubynsky, to help you make an informed decision.
All in the Family: Open lines of communication are the key to success in family business
On the surface, it appears that running a business with close family members would be easier than with total strangers, but indeed, getting together to talk about payroll is a lot different than talking about Sunday dinner. Although operating a family business has its share of joys, it also presents unique challenges that, if ignored or mismanaged, can cause serious financial problems and create deep familial divisions.
Tips and tricks: How to use the web to learn more about a franchise
Navigating the Internet for franchise information can provide you with vital, practical details about a concept, its system and the real-life experiences of both current and former franchisees. But the web can be daunting. Fortunately, the SuperBook is here to help with a few resources and search tips to help with a few resources and search tips to assist you on your road to becoming a franchisee.
Calling Current Franchisees — Part II
Last week, we offered some general tips from Jeff Elgin, CEO of FranChoice, on getting the information you need when contacting current franchisees of a concept you’re considering. This week, we’ll focus on the specifics: Topics to bring up, issues to discuss, and specific questions to ask.
Calling Current Franchisees — Part I
Jeff Elgin — CEO of FranChoice, a franchise referral consultant — shares some tips on how to get honest, useful information from current franchisees, and perhaps most importantly, how to get them to call you back in the first place.
What to Expect at Discovery Days
For many prospective franchisees, a company’s Discovery Days program can feel like the first day at a new school: You don’t know anyone, you’re not entirely sure where you’re supposed be and when, and you can’t say for sure what’s expected of you. To take some of the guesswork out of Discovery Days, FT SuperBook talked to Matt Cutler, COO of moving franchise Two Men and a Truck about his company’s Discovery Days.
Who’s the Boss? Understanding the franchise sales process
As a new franchisee, it’s important to know the strategies and motivations behind the franchisors trying to sell you their concepts. Certainly, there’s a right way and a wrong way to conduct franchise sales. Robert Gappa of Management 2000 has some tips to help you recognize a franchise salesperson who has chosen the former.
Will Expanding the $2 Million SBA Limit Help Create Jobs?
The SBA lending market is improving, but in fits and starts, much like the broader economy.
Dating for Investors: A serial entrepreneur finds an innovative way to cover the check
You’ve heard of Match.com, the website that promises to introduce you to your ideal romantic partner—Daniel Shifrin took that concept to the business world.
Community Bank Loans: A study in tenacity
Advice for getting a loan from a community bank
Making Good Real Estate Deals in Difficult Times
Franchisees are adapting to a new real estate playing field when it comes to planning new locations and managing costs at existing stores.
Finance Tips from Experts on Navigating the New Lending Environment
Lending has become “functionally dysfunctional,” Ronald Feldman, CEO of Siegel Financial Group, told a standing-room-only audience at the Financial Summit of the International Franchise Association convention in San Antonio last month.
Buying Used Equipment
How one man’s old stove can become another man’s treasure trove
How to Get the Most out of an Expo
Though potentially great sources of information and ideas, franchising expos can be overwhelming to first-time attendees. So many booths! So many people saying so many things! A person could really use a guide at a time like this, so we talked to Joel Goldstein of MFV Expositions about how to get the most out of the expos you attend. Here are his tips of the trade:
Five Tips for Franchise Shopping
When you venture beyond the obvious, there are a lot of things you might not realize when you’re looking for a franchise. Here are five:
Five Components of Good Store Design
Retail industry leaders know that constant investment and design innovation focused on branded environments plays a pivotal role in delighting customers and influencing in-store sales. There are many key components to good store design that influence the consumer’s decision-making process and contribute to sales and return visits. Here are a few:
Mobile Credit Card Processing
How mobile technology can help you trim the fat on your retail or restaurant unit.
Tips on Negotiating with a Franchisor
Before you present a franchisor with a list of demands, it’s important to know what to expect and where to take precautions before signing on the dotted line. Franchise agreements are uniform contracts, and frankly, there aren’t many terms open to discussion—like franchise and royalty fees, for example.
New Financing Ideas—Part II
New financing ideas haven’t exactly been easy to come by in 2008 and 2009. However, here are some new approaches worth considering in the New Year.
New Financing Ideas—Part I
New financing ideas haven’t exactly been easy to come by in 2008 and 2009. However, here are some new approaches worth considering in the New Year.
Real Estate: Tenants in Control
Vacancies and plummeting rents mean that franchisees are in control of a retail real estate market that hasn’t hit rock bottom yet.
How to Read a Franchise Disclosure Document (FDD)
Sociologist Emile Durkheim pointed out more than one hundred years ago that “a contract is a marker for conflict.” While that’s stating the obvious, if you’re thinking of getting into franchising—as either a franchisor or a franchisee—you will get light-years ahead of others if you read and understand the all-important Franchise Disclosure Document.
What Makes a Good Franchise Attorney
Early in the process of investigating and choosing a franchise system, you should hire a capable attorney, one who has experience in franchising and can help you navigate all the steps to establish and operate your new business. A good franchise attorney should provide the following services:
The Top 10 Financial Mistakes Franchisees Make
Navigating the financial aspect of franchising can be tricky for those new to the business model. Randy Evans and Dennis Monroe, attorneys with Krass Monroe in Minneapolis, have seen it all, from lapses in judgment to serious blunders. Here, they share their top 10 common financial mistakes made by franchisees in the early stages of buying and operating a franchise business.
Single Unit or Multi-unit? That is the question …
Congratulations! You’ve done the research, chosen the concept and are now on the way to becoming a player in the franchise game. The only question is, just how big of a player do you want—or, perhaps more importantly, have the ability—to be?
David or Goliath? Start-up or Established Franchise Concept?
For most people, buying a franchise is a consequential decision: It’s expensive, it will define your life’s work for 15 to 20 years, and it impacts your whole life and those with whom you interact. But with more than 3,000 different franchise concepts in more than 100 industries, it’s a daunting task to select the right franchise.
If It Ain’t Brokered, Don’t Fix It
For an eager prospective franchisee, a savvy broker may be your best friend—or one of your worst. A broker works for franchisors to find franchisees by introducing prospects to various concepts and their terms, plus the responsibilities of the industry.
A Good Franchise
Franchisee lawyer Ronald K. Gardner has seen firsthand what makes a bad franchise and, as such, has some strong opinions about what makes a good one.
The Risk Reward Paradigm
You want to buy a franchise, but the process of choosing the right one is overwhelming. Where do you start? How do you know which franchises are good, bad or just a waste of time? Perhaps more than any other investment, the franchise you buy deserves a level of cold-eyed scrutiny far beyond the emotional first blush.
In the Trenches with Lee Harbert
An interview with Lee Harbert: franchisee, H&R Block.
In the Trenches with John Brodersen
An interview with John Brodersen: franchisee, Popeyes Chicken & Biscuits.