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How A Franchise Goes Global
November 17, 2009
Taking a franchise brand international requires research, dedication, and a lot of hard work. And as we looked at last time, it requires strong relationships with the right people on the ground in the international countries. People like Americans Jake Weinstock and Paul Kuebler, who teamed up with Russian entrepreneur Vladimir Grumlik, to open Gold's Gym franchises. Weinstock and Kuebler had been living and working in Russia during the early 1990s immersing themselves in the language, business climate, and culture of the nation. The two identified a need for health-themed workout facilities in the former Soviet Union. When they met Grumlik, a Russian entrepreneur who had helped open some Nike stores among other endeavors in his native homeland, they knew they were on to something. They borrowed money from friends, families, and financial institutions to open their first Gold's Gym franchise in Moscow at the end of 1996.
Episode 003: Interview with Tom MacMahan of Play N Trade
November 16, 2009
This episode of the Inside Franchising Podcast features Tom MacMahan, Chief Operating Officer at Play N Trade. Tom discusses his experience with Activision and Starbucks and how it assisted in the launch of the Play N Trade Franchise. For more information about Play N Trade franchise visit: http://www.franchising.com/playntrade/
Why Franchising is Going Global
November 10, 2009
Taking a franchise brand international is, in a sense, the final frontier for growth. It's where many franchise brands that have begun - and been successful - in the U.S turn when they seek expansion. It's a strategy that often occurs in part because of growth that has saturated domestic markets and territories. Typically, larger more established franchise brands begin looking across borders for untapped markets and potential growth. It's an expansion strategy that's not new. But during the past couple of decades as franchising has continued to grow as a popular business model, the international growth strategy has been on the rise. International franchising can also provide opportunities for new and existing franchisees looking for expansion options. There are opportunities as near as Mexico and Canada and as far as the Middle East. In one sense, international franchising can be a relatively smooth and easy process. After all, the franchise concept is built around infrastructure, simplicity, replication, and streamlined operations. What works in one place generally works in another. And many international markets are wide open and untapped and offer enormous potential for franchisors - with the right products, services, and business culture.
Multiple-Concept Franchising: The growing allure of operating several brands
November 3, 2009
Diversification, a recommended strategy in designing an investment portfolio, is a big part of the thinking behind the growth in multiple-brand franchising. No matter how good the ROI may be from a single brand, savvy investors know it's not wise to put all their eggs in one basket. As multi-unit franchisees seek new avenues for growth, increasing numbers of them are adding second, third, fourth concepts, and more to their franchise brand portfolios. The increase in multi-concept franchising has been accompanied by a growth in the number of franchisors offering multiple concepts from under the same corporate roof. Usually, the family of brands is limited to a single industry segment (retail fast food or home repair services, for example), but not always. This growing trend offers benefits to both franchisors and franchisees.
Episode 002: Steve Olson Discusses The Franchise Industry Then And Now
October 28, 2009
Featuring Steve Olson, Publisher of Franchise Update Media Group and Author of "Grow to Greatness".
Area Developers Think Big
October 27, 2009
Taking it to the next level in franchising Some entrepreneurs think big from the start. No single unit for them! Instead, they sign on as an area developer, agreeing to open a certain number of units by a specified date in a given geographic area, where they have been granted exclusive rights. They pay a development fee up front for this exclusivity, and a franchise fee each time they open a unit. However, they usually receive financial incentives as they open new units, in essence, buying "wholesale" in exchange for building the brand successfully in their territory.
How To Stage A Grand Opening For Your New Franchise
October 20, 2009
It's time to open your first franchise store. It's an exciting event but one that can also be filled with anxiety. But you can alleviate much of that anxiety with some proper planning and by relying on advice and support from the franchisor. You've gone through all the training and had a "soft opening" to work out the kinks, bring employees up to speed, and make the necessary operational adjustments. Your job now is to create an awareness of your brand and new location among the community where you are opening. Remember, the franchisor has experience assisting franchisees opening new units. It may be in the form of policies and procedures for you to follow and it could also involve marketing support. The franchisor is in your corner because they have development schedules and timelines that need to be kept.
How to Grow Through Multi-Unit Expansion
October 13, 2009
Just a couple of decades ago, franchising was still characterized by "mom and pop" operations where franchisees opened and operated a single unit for years - maybe even for a lifetime. The focus was simple and the operations not complex. But that model has changed in the past few years. Consider these research findings: According to FRANdata, a franchise industry researcher, 82 percent of all franchisees are single-unit operators. They control 48 percent of all franchise units. Another 15 percent of all franchisees own between two and five units and control 26 percent of all franchise units. Most significantly, 3 percent of all franchisees own more than five units, but they control 26 percent of all franchise units. Combined, 18 percent of all franchisees control nearly 52 percent of all units.
The Opening Process: Marketing Support
October 6, 2009
Great concept. Great site. Great training. Great employees. So far, so great. Now it's time to get the word out to your future customers. It's time to crank up the marketing machine. Until now, you've focused your attention on all the steps leading to your grand opening. But unlike in the movies, if you've built it out, they might not come - not unless you let them know and make it worth their while. No matter how powerful your brand name, competition is fierce, and customers have seen it all before.
Ongoing Support
September 29, 2009
Now that you have your franchise unit up and running, how do you keep it from stumbling during its first months and years? After all, most small businesses need time to learn the ropes and turn a profit. That's where franchisor support comes in. Your franchisor wants you to succeed, and has allocated corporate resources and specialists to provide you with help beyond the initial training you've received in the operating system, financial management, and any technical aspects required to run the business. It goes beyond the lessons in how to hire, train, and retain employees. You cannot run a successful operation without competence in all of these areas, but there's more to support than this.

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