Tag Archives: franchises for sale

Famous Dave’s Secures 21 New Franchise Contracts

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The barbeque chain based in Minnetonka will have its 18 new branches in most of the southern part of California.  Moreover one new venue will be opened in Yakima Washington, Missouri, Independence, Michigan, and Lansing Cities.  Famous Dave’s success is a good motivation to those who are planning to buy a business or searching for franchises for sale.

Famous Dave’s Spokeswoman told the Twin Cities Business about the opening of all its new restaurants in two years with most of them becoming operational by next year.

Opening more Famous Dave’s branches in California will increase its presence in the state, adding more to its 14 restaurants that opened in January.

John Gilbert, CEO of Famous Dave’s stated that the signing will give them a perfect start in their aim of having 50 new venues in the next couple of years.  He added that having more deals will make the growth potential of Famous Dave’s look impressive.  With impressive growth record, more individuals will be attracted to buy a business franchise of Famous Dave’s.

The Famous Dave’s has 132 franchises in 53 locations.  At present, its geographic footprint spans one province in Canada and 33 states.  In July, Famous Dave’s first international venue was opened in Winnipeg.  According to Brett Larrabee, the director of franchise sales and development, the Winnipeg location has exceeded all of their expectations, providing the enterprise its highest sales ever.

The revenue of the company in the latest fiscal year, which ended in January, had a 4% growth or about $154.8 million.  However its current net income was down by 22.9% compared to the previous year.

Its quarter sales, which ended in September 30, amounted to $39.9 million, 2.6% higher from the same period a year ago.  However the net income amounted to $845,000, which was 46% lower from the similar quarter a year ago.  According to Famous Dave’s, its 3rd quarter earnings have been badly affected by its timing on direct-mail marketing and media spending, which occurred on the 4th quarter of the prior year.  The margin pressure brought by the benefit, commodity, and labor costs were also cited as contributing factors.

Last month, Gilbert became the company’s CEO, replacing the former CEO Christopher O’Donnell who became the President and COO.

When the C-suite transition was announced, Aric Nissen, the company’s Marketing VP told the Twin Cities Business that Gilbert and O’Donnell are unique people possessing excellent skills while working with the company’s board together.  He stated that O’Donnell’s strength will be in operation while Gilbert will give attention on the company growth and franchises for sale, emphasizing on brand management and marketing.

Athletes Build Financial Future through Restaurant Franchises

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Last month, the Orlando Magic has let go of Quentin Richardson.  However, even if he doesn’t get an offer from another team, he can still keep busy with his other career being the owner of a restaurant.

Before his team waived him, Richardson was able to sign a deal with East Coast Wings & Grill of North Carolina to operate restaurants within the area of Orlando.  He plans to open his first restaurant next year and nine more within the next 7-year period.

Richardson is among the athletes who chose to buy a business franchise to multiply incomes and plan their future after sports.

This year, Milwaukee Bucks player Drew Gooden who used to play for Magic opened his own Wingstop in the Uptown Altamonte area.  Last month, Peyton Manning, quarterback from Denver Broncos signed to buy a business franchise of 21 Papa John’s.  Shaquille O’Neal, former Magic star owns several pretzel shops of Auntie Anne’s through its investor group.  Tennis ace Venus Williams has also opened outlets of Jamba Juice.

A number of individuals like Dan Marino of Miami Dolphins have been involved in restaurant business for years however the trend in franchising has only picked up pace recently.

According to International Franchise Association, there have been 50 agreements sealed during the past couple of years between franchise companies and sports stars.  Senior director of IFA on diversity and education, Miriam Brewer stated that venturing into franchise business can be one brilliant move for athletes on the lookout on how to increase income.

A member of an organization that helps educate athletes about franchises, Brewer stated that athletes may face some financial hardship or bankruptcy after retirement.

Richardson stated that he started researching about franchising and franchises for sale several months ago after his financial adviser suggested it.  He stated that at that time he needed to figure out ways on how to manage his finances when he retires.

With a guaranteed contract of $5.4 million with Magic in the next couple of years, Richardson stated that he would be involved with a number of business decisions like location choices but the day-to-day restaurant operation will be handled by his business partners.

Former Magic member Drew Gooden has restaurant veteran George Taylor as partner.  Taylor has held managerial positions in Applebee’s, the former Mojo Bar & Grill, and Chili’s.  Currently he holds the director of operations position at the Altamonte Spring Wingstop Store and the future restaurants that Gooden will own in the Central Florida area.

Looking To Buy A Business This Holiday Season?

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With the holiday seasons approaching, millions of joyful people are searching high and low for gifts to give their loved ones. At the same time, most are thinking about ways to improve their lifestyles by making habitual changes or taking on new jobs.

While the above methods may indeed render positive change, its impacts are minimal in comparison to those gunning to start or buy a business by the end of the year. Franchises for sale can give its owners an excellent opportunity to become their own bosses, as well as generate hefty and stable incomes that’ll provide them with the means to make drastic lifestyle changes.

The thought of transitioning from employee to bona fide entrepreneur may be overwhelming, but franchisors have surefire methods for making such transformations significantly easier, and even a more enjoyable process. Though risks are involved with any sort of commercial venture, the systematic approaches taken by franchisors greatly minimizes these dangers.

However, an individual who immediately goes online in search of franchises for sale without having a solid idea on what he really wants or needs, will usually end up being overwhelmed by a plethora of options presented by different websites.

With that in mind, anyone looking to buy a business is advised to create an imaginary list (although it’d better if it were written on paper) of criteria he or she may be looking for in their dream business.

The number one criterion for identifying a suitable match would be passion – if the entrepreneur engages a trade that he loves, the years he spends in business will a whole lot more gratifying experience. Moreover, industry competitiveness should also be thought over thoroughly as well.

Some industries are saturated with other businesses competing amongst each other. While fighting back is possible, challenging those who’ve been there longer, as well as those who constantly evolve plus expand operations, will unquestionably be tough.

Other important factors an individual looking to buy a business should consider include the following: level of investment required to acquire a certain franchise, estimated operational expenses, operating hours/days, number of employees needed, business location type (home-based or traditional brick-and-mortar) and the expected income streams from operations.

By creating a list comprised of all items listed above, hopeful businessmen can now look at the different franchises for sale, and select one that best matches their personal preferences.

Cinnabon: The First US Franchise For Sale To Open In Libya

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With Libya recovering from the civil war which erupted back in 2011, several investment groups are now eyeing this Middle Eastern country as a possible location to do business. Earlier this year, the first US franchise for sale, Cinnabon, was successfully put up in downtown Tripoli.

Compared to other Cinnabon franchises for sale, this branch is fairly large with a surface area of 7,500 square feet. The bakery-café is situated in one of the busiest streets within Tripoli’s business district, and has attracted truckloads of customers during its opening earlier in July 2. During the store’s first week of operation, the company says it was able to generate $45,000 in sales.

Focus Brands International, the parent company of the Atlanta-based bakery, has already amassed over 900 locations in 51 countries. Moreover, it plans to open four more Cinnabon branches in Libya within a span of ten years.

“Ultimately, we think there’s an even larger opportunity in the country for us,” says Mike Shattuck, president of Focus Brands International.

According to Shattuck, his company has received numerous inquiries from Libyans pertaining to different franchises for sale. Out of the numerous brands offered by the firm, the Cinnabon franchise for sale received the most inquiries.

“They were already familiar with the brand and wanted to bring it to Libya,” said Shattuck. “We were in every major market in the Middle East. Expanding into Libya made sense as part of our emerging market strategy.”

Original plans of the Cinnabon push were actually scheduled as early as the first quarter of 2011 – franchise partners were already selected, as well as a suitable location.

However, the civil revolt erupted without warning as the first shipment of products was on its way, thereby causing a delay with the establishment’s opening date. “We quickly halted everything because the revolution happened,” said Shattuck. “Fortunately we were able to secure the location and it made it without serious damage.”

Aside from Focus Brands International, there are other firms looking to bring their franchises for sale to Libya. Chuck Dittrich, executive director of US-Libya Business Association, says that American business interest in growing within this country.

“In the new Libya, people are seeing franchising as an opportunity to become entrepreneurs,” said Dittrich. He went on to explain how acquiring a franchise for sale could give any individual a better shot at operating a commercial establishment successfully for years to come.

Facebook Timeline, an Opportunity to Franchise Businesses

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For franchise owners, being updated of the latest marketing trends is essential.  By learning the proper way to communicate and reach a certain market, the success rate of the franchise becomes higher.  At present, Facebook, with more than 900 million members is one huge market.

With such huge market in a single platform, communicating properly is essential.  Facebook has recently shifted all of its account to the new format called Timeline.  This format provides exposure for franchising companies and other franchises for sale.  The following tips are helpful in marketing franchises using the new Facebook Timeline.

New Features

Franchisors and franchise consultants should be excited with Facebook Timeline because it offers new opportunities in introducing and marketing franchises for sale.  Now all accounts come with cover photo and new landing page.  Even updates and statuses can already be “pinned” on top of the user’s profile.

Cover Photo

Companies can now post their company banners as cover photos in Facebook.  Dimensions of cover photos should be 851 x 315 pixels.  Companies need to choose a photo that perfectly fits the allotted height and length space to avoid any distortion.

Landing Page

With Timeline, the personalized landing page has been removed.  All visitors will be directed to the user’s Timeline wall whenever the page is viewed.

“Pinning” Status

Significant updates on user’s status can now be “pinned” above the user’s Timeline and can remain there for a week.

Cover Photo

With a cover photo, companies can provide site visitors a visual representation of their products and services.  Facebook prohibits companies to utilize marketing hype on cover photos.  Impressive cover photos attract more visitors and can encourage them to explore the profile.

Tabs

With Timeline, user profiles are allowed to have 12 tabs.  These are applications that will be added to the profile page.  The initial four tabs are the only ones shown and the rest can be opened by scrolling the page.  So these initial four tabs must be the most significant ones.  Tabs for business as given by franchise consultants contain:

  • Local Maps
  • Promotions, deals, or coupons
  • Videos or photos of company activities
  • Careers
  • Contests
  • Company outreach
  • Company updates
  • Questions and Polls

Mark Significant Dates

Businesses can mark significant company dates in Timeline.  This can be helpful for franchises.  Having a franchise page enables date marking on every major openings and significant company activities.  Facebook also enables companies to add past dates as well as back tracking.

With this brand-new format franchise companies can share some details on how to buy a business and how the franchise company has developed.  Other examples are changes on company stock and past logo, volunteerism, company anniversaries, brand-new creations, presentation of new positions, and other relevant accomplishments of the company.

Marketing Assistance

Franchise consultants can provide assistance regarding franchise marketing.  Creating a complete marketing plan that contains attainable methods and goals can be tough without any guidance.  With the number one franchise consultant, Upside Group Franchise Consulting, interested individuals can learn how to buy a business or a franchise and other things necessary to start a franchise and make it last.

Tips for Staffing Retailing Businesses

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Retailing businesses and franchises for sale don’t come with employees upon purchase or setup, unless the venture was bought second hand. In the majority of cases, the entrepreneur will have to hire people to get the business up and running.

When hiring employees, it’s important that they’re qualified for the job, and possess the desire to work towards the satisfaction of customers and the company’s growth. In some instances, this can in some way be a difficult task. Some franchises may have positions that require unique skillsets that aren’t easily found.

In this case, looking beyond the usual sources for hiring may be necessary. One good source in particular is former employees of similar businesses, particularly those who’ve worked at another outlet owned by franchisee of the same franchise company.

These individuals will certainly possess the skillset required to fill out certain positions. Regardless, thorough screening may be required, since the reason why they left their former employer might be something “bad.” And since he’ll be working within the same company with identical policies, it’s possible he’ll be quitting for similar reasons.

With some franchises for sale, staff training is often rendered by the franchisor, especially in the case of retailing businesses. With that being said, it is probable to hire someone with little to no knowledge regarding a specific role in the business, and instill the necessary skillset through training programs setup by the franchisor.

The franchisors usually create these programs so that employees will be able to work effectively and in compliance with the franchise’s standards. If every franchisee’s commercial establishment performs well, then the franchisor benefits more, so it’d naturally be in their best interests to see that everything is done to ensure the success of the business is taken.

When creating a staff comprised of skilled and driven employees, it’s vital that the operations of the business aren’t heavily dependent on anyone of them, especially on the ones with low-income positions in fast food and retailing businesses (and even in most franchises for sale).

When the employee turnover becomes high, immediate replacements that are not trained may have to be hired, which will negatively impact the consumers’ perception of the business.

With that being said, having more employees work shorter shifts (instead of the other way around) is a recommended course of action. If one of them quits, it’ll be easier to cover the number of hours he worked by having another employee temporarily work overtime.

What Every Prospective Franchisee Must Know

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A whole new world is facing a franchisee! Before newbie franchisees buy a business, they have to get nuggets of wisdom from John P. Hayes, Ph.D., a professor with over three decades of experience in guiding new franchisees to success.

National and regional franchises for sale are different, but there are generalities that can be given to each type. No two franchisees are alike; there are more exceptions than rules to be considered. Dr. Hayes stated that potential entrepreneurs must note that some national chains have an advantage over smaller chains, and that active research and development are essential. People in the industry should not only consider the business today, they should also consider how it would be five years from now. There will be changes, as effected by government regulations, economic factors, and other issues. This is where research and development comes in.

To be successful in business means clarifying unclear information and issues, so ask as many questions as possible. Don’t be embarrassed, as there’s really no such thing as a stupid question. The issue of royalty is a touchy one, be sure to clarify how much percentage is due.

Dr. Hayes stated that franchise success and emotions are not compatible. Of course, emotion is involved when people buy a business. It seems that the emotional part takes precedence in the purchase while the intellectual aspect comes later. When an investor considers franchises for sale, he must understand what the business is all about and find out if it is a profitable venture.

What is the best option for a prospective franchisee? Learn more about the business by attending symposia and seminars that provide more insight into franchising. Dr. Hayes said that in his symposium, he directly tells attendees that franchising isn’t for everyone. He considers this a refreshing alternative to sales pitches that exclaim how everyone can profit from franchising.

According to Dr. Hayes, another good place is the International Franchise Association at franchise.org. They have loads of good material and information that will help people understand how to investigate franchising opportunities.

Dr. Hayes suggested that going back to school is a wise option. A great franchising online course is offered at Southern New Hampshire University. However, the course is offered as a graduate program.

When people buy a business, they have to learn as much about the trade as possible. Many franchises for sale are available, but not everyone will make a successful franchisee.

What To Consider When Looking For Franchise Opportunities

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A wide range of franchise opportunities can be found everywhere, but not all franchises for sale offer good or even mediocre income streams for its owners. There are of course, plenty of seemingly obvious warning signs that indicate a bad investment, such as companies with shrinking systems, unreasonably high turnover rates, and unhappy franchise owners.

However, other indications of a bad franchise investment may not be so recognizable, but need to be identified in order to save the investor from future frustrations. One indicator of a bad franchise would be rapid growth – while continued growth and development is often a good sign of the company’s strength, hasty and massive expansion can be dangerous.

An example of the above statement would be what happened to Reebok in India during the early months of 2012. Subhinder Singh Prem, the former managing director of Adidas India, quickly increased the number of Reebok outlets from 100 to 900 in a span of a few years. A few months after, franchisees ended up with old stock plus other problems. Things got unstable, and the head office at Adidas Germany finally decided to slash one-third of all the outlets.

Another way to tell which franchises for sale are bad bets is during the interview process between potential franchisees and the franchisors. If the latter seems to be willing to sell the franchise opportunities to anyone that’d pay them for it, then it’s often an indication of the company’s instability. All it takes is one poorly managed outlet to make the entire chain look bad, so be cautious about such companies.

Another sign that a particular franchise isn’t worth investing in is an inexperienced or poor performing management team. This group should be able to handle multiple individuals looking to become franchisees, and all relevant details tied to the process of becoming a franchisee as well. If they have experience in franchising in the past, then that’d be better (so long as the experience was positive.)

If a company doesn’t possess ample resources, technology, and staff to handle continued growth, then it’s likely they’ll soon be in over their heads. They should be willing to increase the number of franchise employees, develop current technology and systems to further accommodate recruits so that stability is maintained throughout the years to come.

Last point to take into consideration when examining different franchise opportunities is territorial rights – there are plenty of franchises for sale that don’t offer exclusive territory, therefore it’s possible for the franchisor to recruit another franchisee and place him a few blocks away.

The last thing any entrepreneur would want is competition courtesy of his own franchisor. With that being said, bringing up a discussion regarding this concern is highly recommended.

Pet Waste Removal Franchise

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Before an individual decides to buy a business, it’d be wise if he’d consider his level of experience, available finances, and the relevant skills he has to the industry he wishes to participate in. Fortunately, franchises for sale make the task at hand a whole lot easier, thanks to effective business models which have taken years to build and reach perfection.

Out of the many types of industries businesses may compete in, the pet waste removal franchise is apparently making good money for franchisees everywhere. The idea of cleaning up animals’ fecal matter for a living may feel a bit weird, but still, it’s a job that no pet owner would ever enjoy doing.

And considering that thousands of house pets defecate in areas of the home they shouldn’t (e.g. the carpet, coach or bed), business for pet waste removal franchises is growing stronger. Moreover, these establishments usually come with unique and fun names which can easily create a subliminal association of the company with the service it offers.

A couple of examples of the above would be Wholly Krap K-9 Waste Removal Service and Dog-Gone Doo-Doo. These waste extraction franchises for sale are well-known by the local markets they target not simply because they provide a “want” which basically has become a “need”, but because of their high quality services rendered.

Anyone that chooses to buy a business or franchise should always consider purchasing one that has a reputable and well-established company name, so the need to market something new can be skipped out on. Aside from the two mentioned above, one brand name that’s trusted by thousands of loyal customers is DoodyCalls.

They’ve built a strong clientele that regularly has them take care of the “dirty work” whenever their pets have done something unpleasant. And more importantly, they’ve set up system of communication and support between franchisors and franchisees, therefore making the task of running the business easier for the latter.

The people at the corporate office provide franchise owners with all the training they’ll ever need to run their establishments in an efficient manner. They also provide marketing materials, a call center, and excellent plus continuous support.

An individual who decides to buy a business which competes in this industry can rest assured that he’s tapping a good-paying market with outstanding repeat business potential. Regardless, it’s important to thoroughly review the different available franchises for sale to see which one can offer the best deals and has the highest chances for making money.

Gain from the Success of Houlihan’s Restaurant by Being a Franchisee

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Houlihan’s casual dining restaurant is a hit with most customers because it offers customers a classy, sophisticated, yet comfortable atmosphere for dining and socializing with reasonably priced meals. This is why individuals looking to start a business and make money may want to consider this endeavor amongst the many franchises for sale.

With over thirty years of success, Houlihan’s currently has 89 restaurants around the country. Fifty-eight of these are franchise owned, while thirty-one are corporate owned. Presently, Houlihan’s also has more than 100 franchised restaurants agreements signed throughout the U.S., clearly indicating that they are rapidly expanding.

Houlihan’s is proud of their scratch cooking that is inspired by cuisines and ingredients all over the world. The restaurant’s craft dishes are created from scratch, along with distinct flavors that offer a one-of-a-kind culinary experience for diners. Houlihan’s creative and culinary teams are in charge of developing menu items along with presenting each dish stylishly.

Those who want to make money could look into owning a Houlihan’s franchise. The criteria for franchisees include a minimum of five years restaurant industry experience, familiarity and knowledge with the local market trends and real estate, commitment to growing several units, and financial ability to build the amount of units desired.

Houlihan’s offers franchises for sale, but what can they offer these potential franchisees? This company is recognized nationally as a casual dining restaurant name having 89 restaurants across the country. There are a lot of desirable locations that have plenty of chances for development. Houlihan’s provide flexible menu, an operational support, buying contract pricing, marketing creative, marketing support, constant culinary development and research, and training materials.

What makes Houlihan’s different from other kinds of casual dining franchises is that it is flexible when it comes to purchasing, menu building, and site development. Franchisees have the freedom to pick their own sites along with making the decision to lease or buy the property depending on their development preferences. With their franchises for sale, Houlihan’s is agreeable to building free standing restaurants, concessions venues, end-caps, and even hotel sites. The company provides two franchising prototypes to partners. The in-house construction and design team alters each plan to match the local market.

The menu program offered by Houlihan’s gives franchisees a chance to develop their unique menus because they can derive from a main menu list of items and also from a recipe library. Depending on the local market, franchisees will have the liberty to decide what items work for their particular demographic. With the many options that franchisees are able to do with this business, this is a great business option to make money.