May 2014 Archives

The Real Rate of Franchise Failure, Selecting Franchise Candidates who Can Sell, and New Risk Factors in Franchising

     1.  New observations about investment grade franchises.

     2. So, you want to be a franchisee? Owner of a franchise? Good for you!

     3. Investing in a franchise is a huge deal.  Learn these new risk factors.

1st Story -225 Clicks = PR Value of $1,415.25*

Franchisors Fail at an Amazing Rate!

I hear franchise salespeople say, and read franchisor source printed material that says, that franchising provides a 90% success rate after three years in business!

I have been lecturing on the subject and will share my observations about investment grade franchises.

2nd Story -98 Clicks = PR Value of $616.42*

Pre-Qualify Yourself as a Franchise Owner/Operator

So, you want to be a franchisee? Owner of a franchise? Good for you!

In over 25 years I've spent working with franchisors, I've always been impressed with how generous and genuinely nice people in franchising are.

It's no wonder, since franchising is all about helping people achieve their dreams.

3rd Story -75 Clicks = PR Value of $471.75*

5 Risk Factors for Investing in a Franchise

Investing in a franchise is a huge deal.

Before you take the plunge, you want to know exactly what you are getting yourself into.

After all, you don't want to make a risky investment; if a franchise has financial problems or appears to be struggling to create and retain business, it is probably best to look elsewhere.

* Value based on current LinkedIn's advertising rates, this month and franchisor target audience.

Get Started on LinkedIn - Reach People Who You Could Do Business With.

Selling to the Online Savvy Customer, 5 Easy Steps to QSR Success, and Who Else Wants to Be as Well Known as Sir Richard Branson?

1. We know what customers look like right now - more integrated with social media, looking for a personalized, efficient shopping experience.

2. In the first couple of years in business, that could mean the difference between staying in business and losing your life savings.

3. Most people write well enough to convey interesting ideas. This is a bit of a problem for you when you compete for attention on Linkedin.

1st Story -1550 Views, 98 Clicks = PR Value of $612.48 

5 Easy Steps to QSR Success

In any retail-type business, by far the largest expense is wages and training.

Since retailers typically average a turnover rate of approximately 110% or more a year, you can see how quickly your profits can be eaten up. 

At fast-food chains, rates as high as 200 percent a year for hourly workers aren't unusual, so the costs of employee turnover are even higher!In the first couple of years in business, that could mean the difference between staying in business and losing your life savings.

See the Comments on QSR Success.

2nd Story -1316 Views, 75 Clicks = PR Value of $471.75 (2nd Week on List)

Selling to the Online Savvy Customer

We know what customers look like right now - more integrated with social media, looking for a personalized, efficient shopping experience.

With things changing as quickly as they are, have you thought ahead to what your customer will look like in 2015?

It looks like folks have started thinking about this already.

See the Comments on Savvy Customer.

3rd Story -977 Views, 118 Clicks = PR Value of $742.22

Who Else Wants to Be as Well Known as Sir Richard Branson?

Most people write well enough to convey interesting ideas.

This is a bit of a problem for you when you compete for attention on Linkedin.

You could spend time creating your own LinkedIn network, one quality connection at a time. 

Since 2005, I have grown my LinkedIn networks to over 4,500 connections.  So, I can get a bit of attention for my ideas or you ideas when I share them.  How can this help you?

Comments on Sir Richard Branson.

* Value based on current LinkedIn's advertising rates, this month and franchisor target audience.

Get Started on LinkedIn - Reach People Who You Could Do Business With.

Subway, Starbucks, and 2015 Preview

     1. Can Subway really open 8,000 more locations?  Great insider observations on the threads.

     2. Will Starbucks start to sell more than just coffee?  

     3.  Planning already for selling in 2015.

1st Story -1596 Views, 129 Clicks = PR Value of $811.41

Subway Intent on Overthrowing McDonalds

There are currently 26,000 Subway eateries in the U.S.

But according to Subway CEO Fred DeLuca, there is always room for more. DeLuca recently announced that he believes that there is room for another 8,000 Subways in the U.S.

"Maybe it will take 10 years or so," he commented. "If we do a good job building consumer demand, that number might change and be higher."

Vigorous and thoughtful dissent in the Comments on Subway.   

2nd Story -1882 Views, 82 Clicks = PR Value of $515.78

What Do You Make of the New Starbucks Menu?

Vanilla lattes and caramel frappes might the first thing to come to mind when you think of Starbucks, but this global franchise is looking to move beyond coffee.

The coffee giant recently announced that it would begin serving handcrafted carbonated beverages known as "Fizzios" in 3,000 stores across the U.S. and in global markets, such Singapore, South Korea, and China, by the end of year.

Comments on Starbucks New Menu

3rd Story -1050 Views, 52 Clicks = PR Value of $337.08

What's New in Selling to the Customer in 2015?

We know what customers look like right now - more integrated with social media, looking for a personalized, efficient shopping experience.

With things changing as quickly as they are, have you thought ahead to what your customer will look like in 2015?

Coments  on Social Media Marketing.  

* Value based on current LinkedIn's advertising rates, this month and franchisor target audience.

Get Started on LinkedIn - Reach People Who You Could Do Business With.

Addictions, Report Cards, and Inattentive Franchisors

     1. Are you addicted to social media? 

     2. Download the Retail 150 Local Marketing Report Card

     3. Why some franchisors just don't care about what their franchise owners do with social medial. 

1st Story (2nd week)

2455+ LinkedIn Readers 

Are You Addicted to Sharing on Social Media?

"Research conducted in the last two or three years has provided some interesting insight into why it is that we engage with social media." 

Do we want to show the "social world" who we are, how we want to be perceived, all the while being important and helpful to others? ...

Comments on Addicted.   More Comments here.

2nd Story 

2199+ LinkedIn Readers

Get Your Local Marketing Report Card

"We are putting a big focus on thinking about the Retail Industry given our Retail 150 Local Marketing Report Card research.

When watching 60 Minutes, you might think that in a couple of years most retail sales would all occur online and be delivered by airborne drone.

Instead, the industry data paints a much different picture ..."

Comments on Local Marketing Report Card. 

3rd Story 

1848+ LinkedIn Readers

Should Social Media Marketing be Left to Franchisees?

Recently I met with a franchisor that is quickly growing the franchise across Canada.

What I discovered about the company's social media surprised me...not because I haven't seen evidence of it before with other franchises but because I've never met a franchisor state it quite as plainly as this one did ....

Coments  on Social Media Marketing.  More comments here.

Get Started on LinkedIn - Reach People Who You Could Do Business With.

Vanilla lattes and caramel frappes might the first thing to come to mind when you think of Starbucks, but this global franchise is looking to move beyond coffee.

The coffee giant recently announced that it would begin serving handcrafted carbonated beverages known as "Fizzios" in 3,000 stores across the U.S. and in global markets, such Singapore, South Korea, and China, by the end of year.

Starbucks began testing these handcrafted sodas in Atlanta, Georgia, and Austin, Texas, late last year. Currently, the chain offers three soda flavors, Golden Ginger Ale, Spiced Root Beer, and Lemon Ale.

Starbucks also reportedly plans to add additional, locally relevant flavors this summer. The sodas are made by staff and are carbonated immediately after customers order.

In order to bring these handcrafted carbonated beverages to customers, it looks like Starbucks is eyeing a deal with well-known carbonated beverage machine company SodaStream. Israeli business news website Globes reports that Starbucks is in advanced talks to take a 10 percent stake in the company, something that could result in a $1.1 billion deal.

All in all, these new carbonated drink offerings are just one part of Starbucks' multifaceted expansion plans.

Earlier this year, Starbucks announced that certain shops would begin selling selected wines and beers in the evenings. In an attempt to bolster its foods offerings, the franchise has also been increasingly emphasizing lunch menu items.

Just last year, the brand rolled out of a variety of La Boulange pastry items, and the company has reportedly been testing a number of new items. 

Ultimately, whatever Starbucks is doing, it appears to be working. This year there are plans to open another 1,500 locations, including 600 in the Americas. The company continually reports healthy gains in sales in spite of the fact that many food franchises are continually lagging. 

Same-store sales rose 6 percent in the U.S. in the second quarter, and the company earned $427 million, up from $390.4 million a year ago.

References

http://abcnews.go.com/Technology/wireStory/starbucks-profit-climbs-us-sales-increase-23461258

http://www.globes.co.il/en/article-starbucks-in-advanced-talks-to-buy-sodastream-stake-1000933553

http://www.entrepreneur.com/article/233422

Article by Jason Duncan, CEO/Founder of ManagerComplete.com.

ManagerComplete is an online software application that helps multi-unit franchises manage operations effectively.

Addictions, Attractions, and Alternatives to Arbitration

Are we addicted to social media?  Some surprising answers by Kathy Doering.

What makes a good LinkedIn profile - a profile that attracts people who could do business with you?  Some science from Michael Webster.

Why does Litigation and Arbitration produce such unsatisfactory results?  Why do we continue to use these procedures?  Richard Solomon

1st Story 

1899+ LinkedIn Readers 

Are You Addicted to Sharing on Social Media?

"Research conducted in the last two or three years has provided some interesting insight into why it is that we engage with social media." 

Do we want to show the "social world" who we are, how we want to be perceived, all the while being important and helpful to others?

Comments on Addicted. 

2nd Story 

1762+ LinkedIn Readers

How To Create a LinkedIn Profile that Magically Attracts ClientsHow To Create a LinkedIn Profile that Magically Attracts Clients

A professional negotiator and mediator asked me to take a look at his LinkedIn profile & make suggestions.

The guy has a terrific CV and resume. Very impressive.

But, does his LinkedIn profile attract or repel potential clients?

There are many LinkedIn experts who will say that they can help you. Maybe they can. I know that some of them will certainly charge you a lot of money.

Use the Science of Decision Making & Not LinkedIn Experts and learn how to create a better profile.

Comments on LinkedIn Profile

3rd Story 

1148+ LinkedIn Readers

Don't Sue Your Franchise Owners to Get Compliance

Lawsuits and arbitrations often sort out disputes in their legal sense.

They rarely sort out disputes in a satisfactory personal, business or financial sense.

Anyone familiar with the litigation and arbitration process can tell you about how unsatisfactory the result was in most instances.  So what are the real alternatives?

Comments on Franchise Owners

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