Co-signing loan papers, buying out operating contracts and modifying licensing fees are among the aggressive steps some franchisors are taking to help their franchisees weather the chilly economy.
Just like small, independent business owners, many franchisees have struggled amid a lingering credit crunch and weak consumer spending.
Their survival is important.
Continue to read at:
http://www.azcentral.com/arizonarepublic/business/articles/2009/01/03/20090103biz-franchising0103.html
Sunday, January 4, 2009
Friday, December 12, 2008
Sir Speedy Franchise Is Finalist for Illinois Family Business of Year
Kent and Julie Phillips, owners of Sir Speedy Printing of Naperville for the past 24 years, were recently notified they were finalists for the 2008 Illinois Family Business of the Year Award. This year’s award is hosted by Loyola.
Continue to read at:
http://www.graphicartsonline.com/article/CA6622181.html?industryid=47496
Continue to read at:
http://www.graphicartsonline.com/article/CA6622181.html?industryid=47496
Tuesday, December 9, 2008
Pizza Hut announces brand transformation
Pizza Hut, a fast food chain, has unveiled a new brand transformation strategy, reported the Press Trust of India. In line with this, over the next three years, the firm will invest INR500 million.
The brand transformation strategy involves the launch of an enhanced dine-in concept along with a new logo and tagline, Stories Happen. Part of the company's global re-imaging exercise, the brand transformation would see the restaurants adopting a premium Parisian cafe setting.
Continue to read at:
http://www.food-business-review.com/article_news.asp?guid=96EE30E3-44A7-474E-A959-74CE3A3F64B5
The brand transformation strategy involves the launch of an enhanced dine-in concept along with a new logo and tagline, Stories Happen. Part of the company's global re-imaging exercise, the brand transformation would see the restaurants adopting a premium Parisian cafe setting.
Continue to read at:
http://www.food-business-review.com/article_news.asp?guid=96EE30E3-44A7-474E-A959-74CE3A3F64B5
Wednesday, December 3, 2008
Blockbuster tests new store in Nevada
It’s not just about renting movies anymore at Blockbuster.
In the hyper-competitive entertainment business, it’s about destination, and the nationwide retailer has made the Reno area the first major test market for its new look and expanded offerings.
Continue to read at:
http://news.cincinnati.com/article/20081201/BIZ/312010001/1076/rss01
In the hyper-competitive entertainment business, it’s about destination, and the nationwide retailer has made the Reno area the first major test market for its new look and expanded offerings.
Continue to read at:
http://news.cincinnati.com/article/20081201/BIZ/312010001/1076/rss01
Wednesday, November 19, 2008
Jamba hires Safeway exec as CEO
Jamba Inc. hired former Safeway executive James White as president and CEO, starting Dec. 1.
The Emeryville business (NASDAQ: JMBA) is the parent of smoothie maker Jamba Juice Co.
White, 47, was senior vice president of consumer brands at Pleasanton grocery chain Safeway (NYSE: SWY), a job he took in 2005.
His base salary....
Continue to read at:
Thursday, October 23, 2008
Franchise sector's robust growth
http://www.news.com.au/adelaidenow/story/0,22606,24541795-37562,00.html
FRANCES STEWART
October 22, 2008 11:30pm
FRANCHISES have reported strong growth in the past two years despite tougher economic times, according to a survey commissioned by the Franchise Council of Australia.
Executive director Steve Wright said the results of the Franchise Australia 2008 Survey revealed confidence in the sector.
He said franchise systems recorded a 14.6 per cent growth rate between 2006 and mid-2008.
``These statistics illustrate business confidence in the franchising sector and the robust nature of the franchising model, which has a history of performing relatively well compared to the broader small business sector even when economic indicators are pointing down,'' he said.
The survey, undertaken by the Griffin Business School, also found that disputes in the sector had declined to just 2 per cent, most of which were in larger, older and more complex systems.
Mr Wright attributed the decline to ``greater awareness of the obligations for all participants in the sector'' brought about by changes to the Franchising Code of Conduct.
He said the result defied the recent revision of three franchise systems and franchising inquiries in WA and SA state parliaments.
``This is reinforced in recent statements by the sector regulator, the ACCC, which has noted a downward trend in complaints,'' Mr Wright said.
``Few franchise systems receive complaints from more than one or two franchisees.''
``This suggests that there is no widespread misconduct regarding the code or the Act by most franchisors. The number of franchising-related complaints and inquiries received by the ACCC has generally declined since 2004.''
Griffith Business School pro-vice-chancellor Professor Michael Powell said the survey result was particularly good for a sector that had faced challenges in the past two years.
``The continued growth and maturation of Australian franchising is impressive, particularly considering the current economic outlook, a recent change of government, and a franchising sector that has faced government scrutiny,'' he said.
``There is always room for improvement and we are working on the question of what improvements can be made in the context of the current federal corporations committee inquiry into franchising.''
SURVEY'S KEY FINDINGS
* A continued growth rate of 14.6 per cent in franchise systems from 2006 to mid 2008.
* Business format franchised units represent 3.7 per cent of all small businesses in Australia, employing an estimated 413,500 people.
* Growth rate of franchise units is 15.4 per cent.
* The total sales turnover for the franchising sector was estimated to be $130 billion.
FRANCES STEWART
October 22, 2008 11:30pm
FRANCHISES have reported strong growth in the past two years despite tougher economic times, according to a survey commissioned by the Franchise Council of Australia.
Executive director Steve Wright said the results of the Franchise Australia 2008 Survey revealed confidence in the sector.
He said franchise systems recorded a 14.6 per cent growth rate between 2006 and mid-2008.
``These statistics illustrate business confidence in the franchising sector and the robust nature of the franchising model, which has a history of performing relatively well compared to the broader small business sector even when economic indicators are pointing down,'' he said.
The survey, undertaken by the Griffin Business School, also found that disputes in the sector had declined to just 2 per cent, most of which were in larger, older and more complex systems.
Mr Wright attributed the decline to ``greater awareness of the obligations for all participants in the sector'' brought about by changes to the Franchising Code of Conduct.
He said the result defied the recent revision of three franchise systems and franchising inquiries in WA and SA state parliaments.
``This is reinforced in recent statements by the sector regulator, the ACCC, which has noted a downward trend in complaints,'' Mr Wright said.
``Few franchise systems receive complaints from more than one or two franchisees.''
``This suggests that there is no widespread misconduct regarding the code or the Act by most franchisors. The number of franchising-related complaints and inquiries received by the ACCC has generally declined since 2004.''
Griffith Business School pro-vice-chancellor Professor Michael Powell said the survey result was particularly good for a sector that had faced challenges in the past two years.
``The continued growth and maturation of Australian franchising is impressive, particularly considering the current economic outlook, a recent change of government, and a franchising sector that has faced government scrutiny,'' he said.
``There is always room for improvement and we are working on the question of what improvements can be made in the context of the current federal corporations committee inquiry into franchising.''
SURVEY'S KEY FINDINGS
* A continued growth rate of 14.6 per cent in franchise systems from 2006 to mid 2008.
* Business format franchised units represent 3.7 per cent of all small businesses in Australia, employing an estimated 413,500 people.
* Growth rate of franchise units is 15.4 per cent.
* The total sales turnover for the franchising sector was estimated to be $130 billion.
Wednesday, October 22, 2008
Smashburger Secures Franchise Group for 30-Store East Coast Expansion
http://www.marketwatch.com/news/story/smashburger-secures-franchise-group-30-store/story.aspx?guid=%7B8B7F4FA1-C05A-44B1-8CFE-3FBEF05D12A4%7D&dist=hppr
DENVER, Oct 22, 2008 (BUSINESS WIRE) -- Smashburger, a fast-casual "better burger" concept recently launched and funded with $15 million by private equity and concept development firm Consumer Capital Partners (CCP), has secured its first franchisee and "Founders Club" member, New Jersey-based Mascott Corporation. Mascott Corporation has over 20 years of experience in the region, and is currently a multi-unit operator of Popeyes Louisiana Kitchen, Carvel Ice Cream Stores, Cinnabon World Famous Cinnamon Rolls and Seattle's Best Coffee (a Starbuck's Brand), as well as their own Markers Restaurant and Markers Express. As a "Founders Club" member, Mascott will provide valuable field insight on Smashburger's brand and menu development as well as operations and real estate. The "Founders Club" designation will be reserved for the first five large franchisees to join the Smashburger team.
DENVER, Oct 22, 2008 (BUSINESS WIRE) -- Smashburger, a fast-casual "better burger" concept recently launched and funded with $15 million by private equity and concept development firm Consumer Capital Partners (CCP), has secured its first franchisee and "Founders Club" member, New Jersey-based Mascott Corporation. Mascott Corporation has over 20 years of experience in the region, and is currently a multi-unit operator of Popeyes Louisiana Kitchen, Carvel Ice Cream Stores, Cinnabon World Famous Cinnamon Rolls and Seattle's Best Coffee (a Starbuck's Brand), as well as their own Markers Restaurant and Markers Express. As a "Founders Club" member, Mascott will provide valuable field insight on Smashburger's brand and menu development as well as operations and real estate. The "Founders Club" designation will be reserved for the first five large franchisees to join the Smashburger team.
"The "Founders Club" is an important component of our business model as we believe that tapping into the expertise of sophisticated, geographically dispersed, multi-unit operators can provide invaluable insight as we grow," said David Prokupek, Managing Partner and Chief Investment Officer of Consumer Capital Partners. "We intend to grow our footprint nationally in the next year and the best way to do that is with the support of operators like Mascott who are well capitalized and have the depth and breadth of experience on the East Coast that will undoubtedly set us up for success in that part of the country."
Mascott's 30 franchise locations in New Jersey will complement Smashburger's seven corporate locations in Denver and Ft. Collins, Colo. The Company plans to grow its corporate footprint to a total of 10-15 stores by the end of 2008 and as many as 30-60 stores by the end of 2009 on its way to achieving a strong national footprint.
"We have stated from day one that our goal is to become the top national player in the fast-casual burger category, and today's news gets us one step closer to achieving that objective," said Scott Crane, President of Smashburger. "The Gillman family with Scott, Marc and Richard, perfectly fit our partner profile--Mascott is well capitalized, family-owned and has a laser focus on the customer and the experience; they have deep multi-unit franchise experience within the region they will operate; and they understand the value of being good corporate partners in the communities they serve. We look forward to working closely with the Gillmans as they bring a better burger to the burger lovers of the New Jersey and New York areas."
"As we considered growth opportunities for Mascott, it quickly became evident that Smashburger was one of the most well-executed and financially viable concepts in the fast-casual segment," said Scott Gillman, CEO of Mascott Corporation. "The burger is the best tasting in the business and the depth of talent in the day-to-day management, as well as access to the resources of Consumer Capital Partners, creates a very strong value proposition for their franchisees."
About Smashburger
Headquartered in Denver, Colo., Smashburger is an innovative fast-casual restaurant concept featuring "the best burgers you ever tasted." Developed and owned by private equity and concept development firm Consumer Capital Partners, Smashburger intends to expand to 10-15 restaurants by the end of 2008 and another 30-60 corporate stores in 2009 on its way to becoming the national better burger leader. There are currently seven restaurants located in the Colorado area. If you crave a better burger, keep watching for Smashburger--coming to your community soon! To learn more about building a better burger, please visit http://www.mysmashburger.com.
About Consumer Capital Partners
Headquartered in Denver, Colo., Consumer Capital Partners is an innovative private investment, concept development and strategic advisory firm focused on multi-unit retail businesses, primarily in the restaurant, liquor, food and leisure industries. Consumer Capital Partners has deep experience in the fields of private equity, brand, concept and product development, and strategic consulting. To learn more about Consumer Capital Partners, please visit http://www.consumercp.com.
SOURCE: Smashburger
Consumer Capital Partners for SmashburgerCopyright Business Wire 2008
Joe Hodas, 303-592-3849
jhodas@consumercp.com
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