Category: Entrepreneurs

HOW TO CHOOSE THE RIGHT FRANCHISE – The Pieces of the Puzzle

Posted on by Franchise Strategist

Selecting the right franchise is a significant decision that requires thorough research and consideration. By evaluating factors such as franchise opportunities, market analysis, investment, support, reputation, and growth potential, you can increase your chances of choosing a franchise that aligns with your goals and leads to long-term success.

HOW TO CHOOSE THE RIGHT FRANCHISE: The Pieces of the Puzzle

Introduction

Embarking on a franchise journey can be an exciting and rewarding venture. Franchising offers individuals the opportunity to own a business with a proven model and support from an established brand. However, with numerous franchise options available, it’s crucial to make an informed decision to ensure long-term success. In this article, we will explore the key factors to consider when choosing the right franchise for you.

Franchise opportunitiess
When starting your research, it’s important to look for franchises that align with your interests and passion. Identifying industries that pique your curiosity will help you maintain enthusiasm throughout your entrepreneurial journey.

Franchise market analysis
Conducting a thorough market analysis is essential to assess the viability and growth potential of the franchise. Research the current market trends, target audience, and competition within the industry. Understanding the market dynamics will enable you to make an informed decision.

Franchise investment
Determining your budget and evaluating the financial requirements of the franchise is crucial. Consider the initial franchise fee, ongoing royalties, marketing expenses, and working capital needed. Ensure that the financial commitment aligns with your available resources and long-term financial goals.

Franchise support and training
One of the key advantages of franchising is the support and training provided by the franchisor. Look for franchises that offer comprehensive training programs, ongoing support, and access to operational resources. This will significantly increase your chances of success and help you navigate any challenges along the way.

Franchise reputation
Research the reputation of the franchisor within the industry and among franchisees. Read reviews, testimonials, and news articles to gain insights into the franchisor’s track record and credibility. A reputable and trustworthy franchisor will contribute to the overall success of your business.

Franchise location
Consider the location requirements and whether the franchise can thrive in your desired area. Evaluate factors such as demographics, foot traffic, competition, and local regulations. A strategic and well-suited location can significantly impact your business’s profitability.

Franchise flexibility
Assess the level of flexibility the franchise offers. Some franchises provide more autonomy, while others have stringent operational guidelines. Determine if the franchise’s structure aligns with your management style and personal preferences.

Franchise growth potential
Evaluate the growth potential of the franchise by researching expansion plans, new product offerings, and emerging markets. Understanding the franchisor’s vision for the future will help you assess the long-term sustainability of the business.

Franchise legal considerations
Consult with a franchise attorney to review the franchise agreement and disclosure documents. They will ensure that you fully understand the terms, conditions, and legal obligations associated with the franchise. This step is crucial to protect your interests and minimize potential risks.

Franchise network
Engage with existing franchisees to gain valuable insights into their experiences and satisfaction levels. Ask about their relationship with the franchisor, support received, and overall business performance. Their perspectives will provide you with a realistic view of what to expect as a franchisee.

Franchise competitive advantage
Evaluate the unique selling proposition (USP) of the franchise and analyze its competitive advantage in the market. A strong USP can differentiate your business from competitors and attract a loyal customer base.

Franchise growth history
Research the franchise’s historical performance and growth trajectory. Look for franchises with a consistent track record of success and stable financial performance. This information will give you confidence in your investment decision.

Franchise exit strategy
Consider the exit options available to you in the future. Understanding the franchisor’s policies on transferring or selling the franchise will help you plan for the long term and ensure a smooth transition if needed.

Franchise innovation
Assess the franchisor’s commitment to innovation and staying ahead of industry trends. A forward-thinking franchisor will continuously invest in research and development, ensuring the franchise remains relevant and competitive in the market.

Franchise compatibility
Finally, evaluate the franchise’s compatibility with your skills, experience, and lifestyle. Reflect on whether the franchise aligns with your personal and professional goals. Choosing a franchise that matches your strengths and aspirations will increase your chances of long-term success and fulfillment.

Conclusion
Selecting the right franchise is a significant decision that requires thorough research and consideration. By evaluating factors such as franchise opportunities, market analysis, investment, support, reputation, and growth potential, you can increase your chances of choosing a franchise that aligns with your goals and leads to long-term success. Remember, investing time and effort into finding the perfect franchise match will provide a solid foundation for a fulfilling entrepreneurial journey.

THE CATALYST OF CHANGE: INNOVATION’S CENTRAL ROLE IN FRANCHISE EXPANSION

Posted on by Franchise Strategist

Photo by Matt Ridley on Unsplash

However, in the race for innovation, franchisors must remember to maintain brand consistency, as it is a significant part of the franchising model’s appeal. This delicate balance between innovation and brand preservation can be tricky but is crucial to ensuring long-term success.

The Catalyst of Change: Innovation’s Central Role in Franchise Expansion
By Bill Armstrong

As we journey through the rapidly evolving landscape of the franchise business, one fact stands out: innovation is no longer an option but a necessity for franchise companies seeking sustainable expansion. Stories of franchises harnessing the power of innovation to fuel their growth show us that creativity and change are the new norms in this dynamic business environment.

Take, for example, McDonald’s, an iconic franchise that has continually reinvented itself over the years. They pioneered the concept of “fast food” and redefined customer experience by introducing the Speedee Service System, an innovative assembly line for food. More recently, they embraced digital transformation with their “Experience of the Future” initiative, which included mobile ordering, self-service kiosks, and even artificial intelligence-driven decision engines for drive-thru menus.

Another compelling example of innovation at work is Starbucks, which leveraged technology to transform its customer experience. By developing a cutting-edge mobile app, they offered a seamless ordering and payment system that drew customers in with a loyalty rewards program. Moreover, they dared to step beyond their traditional cafe model by experimenting with express stores, drive-thrus, and high-end Roasteries to meet diverse customer needs.

Innovation within franchised brands is not confined to tech giants and international food chains alone. Companies in various sectors, from retail to fitness to education, have discovered the benefits of an innovative approach. In essence, the main thrust of franchise innovation comes from the urge to deliver better value, enhance customer experience, and differentiate from competitors.

However, in the race for innovation, franchisors must remember to maintain brand consistency, as it is a significant part of the franchising model’s appeal. This delicate balance between innovation and brand preservation can be tricky but is crucial to ensuring long-term success.

Franchisors also need to understand the importance of investing in research and development. Identifying and exploring innovative possibilities can pay off massively when those ideas are implemented and become the driving force for franchise growth.

Innovation isn’t just about products or services; it also extends to franchising strategies. For instance, franchises can explore innovative expansion methods, such as multi-unit franchising, area development franchising, or master franchising. These strategies allow businesses to expand their reach while managing risk effectively.

In conclusion, as the franchising landscape continues to evolve, the role of innovation in franchise expansion becomes ever more significant. By staying open to change and embracing the new, franchise companies can survive and thrive in the face of competition and continually changing market dynamics. Innovation is the catalyst of change, propelling franchises forward in their journey of expansion.

HARNESSING SOCIAL MEDIA FOR SMALL BUSINESS GROWTH: TACTICS, TARGETING, AND COST-EFFECTIVE CAMPAIGNS

Posted on by Franchise Strategist

Photo by Tracy Le Blanc

Social media platforms are indispensable tools for small businesses looking to expand their reach, attract new customers, and build relationships with existing ones. By understanding and employing demographic and geographical audience targeting, managing costs effectively, and choosing the right strategy for your needs, you can leverage these platforms for remarkable business growth.

Harnessing Social Media for Small Business Growth: Tactics, Targeting, and Cost-Effective Campaigns

Introduction
Small businesses continue to leverage social media platforms as cost-effective means to engage their audiences, drive growth, and foster brand loyalty. With over 3.6 billion users worldwide, platforms like Facebook, Instagram, Twitter, LinkedIn, and Pinterest present unprecedented opportunities to reach local and global markets. However, The key to success lies in effectively targeting demographic and geographical audiences, creating engaging content, and tailoring your social media strategy to align with business objectives.

Demographic and Geographical Audience Targeting
The first step to effective social media marketing is understanding your target audience. Social media platforms have intricate systems for demographic targeting, allowing businesses to reach specific age groups, genders, occupations, and interests. For example, a local women’s boutique may target women aged 18-34 interested in fashion within a 30-mile radius. Similarly, a car dealership may focus on men and women aged 24-54 in the local city and its suburbs.

Geographical targeting is particularly beneficial for small businesses seeking to make an impact within their community. You can narrow down your audience to your city or state, ensuring that your ads reach potential customers in your locality. For instance, a farm-to-table restaurant in Seattle might use geographical targeting to reach food enthusiasts in the Pacific Northwest, thus optimizing their advertising spend and increasing the potential for in-person visits.

Cost and Potential Return
Social media advertising offers a flexible and scalable solution for small businesses. The cost can be as little as $1 per day on platforms like Facebook and Instagram. These platforms employ a bidding system for ad placement so that costs can vary based on factors like ad quality, relevance, and the competitiveness of your target audience.

The potential return on investment (ROI) for social media advertising can be significant. In 2022, businesses made an average of $5.20 for every dollar spent on Facebook ads. Moreover, 75% of customers said they use social media as part of their buying process. When designed and executed correctly, campaigns can drive traffic, generate leads, and convert followers into loyal customers.

DIY Posting vs. Hiring a Digital Marketing Firm
Small business owners can manage their social media presence or hire a digital marketing firm to run their campaigns. Doing it yourself can be cost-effective and allows you to connect personally with your audience. However, it requires time, effort, and an understanding of each platform’s algorithm.

Alternatively, hiring a digital marketing firm can offer expert guidance, a professionally crafted strategy, and detailed analytics. Firms can also save you time, allowing you to focus more on running your business. These services can range from $1,000 to $20,000 per month, depending on the size and scope of your campaigns.

15 Must-Use Hashtags
Including popular, relevant hashtags in your posts can significantly boost their visibility. Here are 15 top hashtags for small businesses:
#SmallBusiness
#SupportLocal
#ShopLocal
#SmallBiz
#Entrepreneur
#BusinessGrowth
#DigitalMarketing
#BusinessOwner
#Success
#MarketingTips
#StartupLife
#BusinessGoals
#CustomerLove
#BrandAwareness
#CommunityOverCompetition

Conclusion
Social media platforms are indispensable tools for small businesses looking to expand their reach, attract new customers, and build relationships with existing ones. By understanding and employing demographic and geographical audience targeting, managing costs effectively, and choosing the right strategy for your needs, you can leverage these platforms for remarkable business growth. Remember to measure your results and adjust your strategy to maximize your ROI.
While the prospect of advertising on social media may initially seem daunting, the potential rewards are substantial. Whether via DIY posting or enlisting the help of a digital marketing firm, a well-executed social media strategy can elevate your business to new heights.

Keywords: Small Business, Social Media Marketing, Demographic Targeting, Geographical Audience Targeting, Cost-Effective, Advertising, ROI, Digital Marketing Firm, Hashtags, Business Growth, Local Community, Customer Retention, Brand Loyalty, Facebook, Instagram, Twitter, LinkedIn, Pinterest.

THE ESSENTIAL ROLE OF BRAND CONSISTENCY IN SUCCESSFUL FRANCHISING

Posted on by Franchise Strategist

Photo by Samuel Figueroa

Success in franchising hinges on delivering a unified and harmonious brand experience across all outlets. For example, if you were to walk into a McDonald’s in any part of the world, you would expect the same ambiance, service, and product quality. This uniform experience is a testament to brand consistency.

The Essential Role of Brand Consistency in Successful Franchising
By Johnny Dey

Franchising has been a critical engine of growth for numerous successful businesses, providing opportunities for market expansion while mitigating the associated risks. It presents a lucrative platform for businesses to amplify their brand’s success, extend their market reach, and maximize profit margins. At the core of this successful strategy lies brand consistency.

Brand consistency is more than just a trending buzzword; it is a fundamental strategy for ensuring a franchise’s growth and longevity. Why so? Because consistency cultivates familiarity, and familiarity breeds trust, which is the cornerstone of customer loyalty.

The essence of franchising is a replication model. The underlying principle is to replicate the parent company’s successful business model across multiple locations, ensuring a consistent customer experience. This is where brand consistency comes to the forefront.

Success in franchising hinges on delivering a unified and harmonious brand experience across all outlets. For example, if you were to walk into a McDonald’s in any part of the world, you would expect the same ambiance, service, and product quality. This uniform experience is a testament to brand consistency.

restaurant, franchise , coffee
Photo by Erik Mclean

Brand consistency not only refers to visual elements such as logos, colors, and store design but also includes communication style, customer service, and the overall quality of goods or services offered. Thus, the importance of brand consistency in franchising is paramount.

Brand identity plays a significant role in making a brand recognizable and memorable. Consistency in brand identity across all franchises enhances brand recall, leading to increased customer loyalty and repeat business.

Customer loyalty is a pivotal element for any business, but for franchises, it holds supreme importance. When customers experience consistency across different locations, their trust in the brand deepens, resulting in enhanced loyalty.

Investment in brand training is a key aspect of maintaining brand consistency. Training programs should strive to instill employees with the brand’s values and mission, ensuring they can deliver the consistent service that is expected. Therefore, the implementation of regular and comprehensive training programs is crucial for the success of a franchise.

Another domain where brand consistency plays an integral role is in digital marketing. With the surge of customers turning to online platforms for their needs, franchises need to ensure that their online presence is reflective of their in-store experience. Consistent messaging and tone across all digital channels, including the website, social media, and email marketing, can significantly enhance the brand’s reputation and visibility.

Lastly, brand consistency contributes to the franchise’s value proposition. It offers a sense of reliability to both the franchisee and the customer. A well-established, consistent brand identity can often simplify the marketing efforts of franchisees, as they can leverage the pre-existing brand recognition and customer loyalty.

In conclusion, brand consistency is a vital ingredient for successful and sustainable franchising. It is instrumental in building trust with customers, fostering brand loyalty, and ensuring the overall success of the franchise. Therefore, businesses venturing into franchising should prioritize maintaining brand consistency across all their outlets.

ADVANTAGES OF INVESTING IN A FRANCHISE VS. LAUNCHING A STARTUP

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A franchise is an established business model with a proven track record. In simple terms, a franchise comes with a ready-to-go business plan that reduces the chances of failure. You can even access historical data on how other franchises under the brand performed. This may lower the financial risk.

Advantages of Investing in a Franchise Vs. Launching a Startup
By Gary Occhiogrosso – Founder FranGrow

The journey of starting a business is an exciting adventure filled with opportunities and challenges. In deciding to become an entrepreneur, one critical decision you will make is choosing between buying a franchise or launching a startup. Both paths have unique benefits, but today we’ll discuss the advantages of investing in a franchise.

First, the primary advantage of a franchise is the lower risk factor. Unlike a startup, where everything is built from scratch, a franchise is an established business model with a proven track record. In simple terms, a franchise comes with a ready-to-go business plan that reduces the chances of failure. You can even access historical data on how other franchises under the brand performed. This may lower the financial risk, making franchises a safer bet.

Secondly, buying a franchise comes with brand recognition. Unlike startups, franchises are backed by an established brand often recognized and trusted by consumers. This means you do not need to invest heavily in brand awareness or marketing to gain the trust of your customers, which is a significant challenge for startups.

Thirdly, franchises often offer support and training for new franchisees. This is not usually the case with startups, where you are alone. Training and support from franchisors can be invaluable, mainly if you are new to running a business. They provide a roadmap for running the business, reducing the learning curve of starting a new business.

Lastly, with a franchise, you get easier access to funding. Banks and financial institutions are more willing to lend money to franchises because they are perceived as less risky due to their proven business models. It is also easier to get supplier credit due to the strength of the franchisor.

In conclusion, while startups offer the thrill and total control, franchises offer an option combining the entrepreneurial spirit with a cushion of support. It’s crucial to conduct due diligence and consider your interests, business acumen, financial capacity, and lifestyle before deciding.

#Risk #Support #Training, #franchise #restaurant #homeservices #sales #motivation #innovantio #inspiration #career #franchisegrowthsolutions #howtofranchise #franchiseyourbusiness #buyabusiness #buyafranchise #franchising #franchisee #Entrepreneur, #BusinessModel, #DueDiligence #FranchiseVsStartup #Entrepreneurship #BusinessModel #RiskFactor #BrandRecognition #Funding #duediligence

TOP 10 MISTAKES TO AVOID WHEN GROWING YOUR FRANCHISE

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Photo by Nicola Barts

Avoiding these common mistakes can significantly enhance the chances of successful franchise growth. Understanding the complexity, protecting the brand, selecting suitable sites and franchisees, providing thorough training and support, respecting local market dynamics, planning financially, managing growth, and listening to feedback are all integral to the successful growth of a franchise.

TOP 10 MISTAKES TO AVOID WHEN GROWING YOUR FRANCHISE
By Gary Occhiogrosso

Growing a franchise can be a rewarding journey, offering an opportunity to amplify business success by extending a proven model across different markets. However, it is not without its challenges, and various pitfalls can hinder growth and undermine the business’s potential. Here are the top 10 mistakes to avoid when growing your franchise.

Underestimating the Complexity: Franchising isn’t just about replicating a business model. It entails legal considerations, marketing, support systems, and much more. Rushing into franchising without a comprehensive understanding can lead to disastrous results (Entrepreneur, 2020).

Failing to Protect the Brand: Your brand is your franchise’s core. Allowing inconsistencies in brand representation can damage the franchise’s image. It’s crucial to establish firm brand standards and enforce them across all franchises (Franchise Direct, 2020).

Poor Site Selection: The location of your franchise can significantly influence its success. Not conducting thorough research on potential locations can lead to poor performance and risk the viability of the new outlets (FranchiseGator, 2021).

Inadequate Training Programs: Franchisees need to understand the business’s core operations and values. An insufficient or poor quality training program can lead to operational inconsistencies and customer dissatisfaction (IFA, 2020).

Overlooking Local Market Dynamics: While a franchise model may work well in one area, it’s not guaranteed to succeed in another. Ignoring local market dynamics and not tailoring the franchise offering can result in failure (FranchiseGator, 2021).

Choosing the Wrong Franchisees: A franchise is only as good as its franchisees. Selecting franchisees based merely on their ability to pay the franchise fee, rather than their alignment with the brand’s values and their capacity to manage a business, can lead to problems down the line (Entrepreneur, 2020).

Neglecting Franchisee Support: Once a franchisee is up and running, the work doesn’t stop there. Not providing ongoing support can lead to operational errors and can cause franchisees to feel isolated and unsupported (Franchise Direct, 2020).

Expanding Too Quickly: While growth is desirable, expanding too quickly can strain resources and lead to mistakes. Franchisors must have a measured, sustainable growth plan (Forbes, 2021).

Inadequate Financial Planning: Franchising involves considerable investment. Lack of proper financial planning and underestimating costs can lead to financial troubles, impacting both the franchisor and franchisees (FranchiseGator, 2021).

Ignoring Feedback: Franchisees are on the front line and can provide valuable insights. Ignoring their feedback can result in missed opportunities for improvement and innovation (IFA, 2020).

Avoiding these common mistakes can significantly enhance the chances of successful franchise growth. Understanding the complexity, protecting the brand, selecting suitable sites and franchisees, providing thorough training and support, respecting local market dynamics, planning financially, managing growth, and listening to feedback are all integral to the successful growth of a franchise.

Sources:

Entrepreneur. (2020). The Pros and Cons of Franchising Your Business.
Franchise Direct. (2020). The Top 5 Franchise Mistakes to Avoid.
FranchiseGator. (2021). Common Mistakes to Avoid When Franchising Your Business.
Forbes. (2021). 10 Key Steps To Franchising Your Business.
International Franchise Association (IFA). (2020). Best Practices for Franchisors.

HOW TO RECRUIT & RETAIN “GEN Z” EMPLOYEES

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Photo by fauxels

It is essential to consider Gen Z key preferences and values. Gen Z employees prioritize meaningful work and a sense of purpose. They are often motivated by opportunities for personal growth, career advancement, and the ability to impact society positively. Providing clear career paths and development opportunities is crucial to engaging and retaining them.


HOW TO RECRUIT & RETAIN “GEN Z” EMPLOYEES
By Johnny Dey

Finding, hiring, and retaining Generation Z employees requires understanding their unique characteristics, preferences, and attitudes toward work. As the newest generation to enter the labor force, Gen Z comprises individuals born between 1997 and 2012. According to the U.S. Department of Labor, as of 2020, Gen Z accounted for around 9% of the labor force, which is projected to grow in the coming years.

To attract Gen Z workers, it is essential to consider their key preferences and values. Gen Z employees prioritize meaningful work and a sense of purpose. They are often motivated by opportunities for personal growth, career advancement, and the ability to impact society positively. Providing clear career paths and development opportunities is crucial to engaging and retaining them.

Gen Z employees also value work-life balance and flexibility. They seek workplaces that offer flexible schedules, remote work options, and healthy work-life integration. According to a study by Ernst & Young, 75% of Gen Z employees believe that a flexible work schedule is essential to achieve work-life balance. Emphasizing work-life balance and offering flexible arrangements can be attractive to Gen Z job seekers.

Gen Z workers are also tech-savvy and expect employers to leverage technology effectively. They are comfortable with digital communication tools, collaboration platforms, and automation. Companies prioritizing technological advancements and providing a digital-friendly work environment will likely appeal to Gen Z candidates.

Gen Z employees also value diversity and inclusivity. They seek companies that foster a diverse and inclusive culture where they can express their authentic selves. Organizations that demonstrate a commitment to diversity, equity, and inclusion through policies, initiatives, and representation are more likely to attract and retain Gen Z workers.

Moreover, Gen Z employees tend to have a robust entrepreneurial spirit. They are interested in opportunities for innovation, autonomy, and creativity in the workplace. Companies that offer a supportive environment for entrepreneurial endeavors and provide platforms for idea sharing and collaboration will likely appeal to Gen Z employees.

In conclusion, attracting, hiring, and retaining Gen Z employees involves recognizing their preferences for meaningful work, work-life balance, flexibility, technological integration, diversity and inclusion, and entrepreneurial opportunities. By aligning company values with these preferences, organizations can better position themselves to attract and retain Gen Z talent in a competitive labor market.

Please note that while the U.S. Department of Labor provides information about the labor force and various demographic trends, specific statistics on the exact number of Gen Z individuals in the labor force may not be available as of my knowledge cutoff in September 2021. It’s advisable to refer to the U.S. Department of Labor or other reliable sources for the most up-to-date statistics.

4 TOP REASONS TO REFRESH YOUR WEBSITE

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Photo by Le Buzz Studio on Unsplash

A well-linked site is a well-ranked site. Including outbound links to relevant and authoritative websites boosts your SEO and enhances the user experience by providing additional valuable information. Similarly, getting other sites to link to yours can improve your search engine rankings and increase traffic.

4 Top Reasons To Refresh Your Website
Gary Occhiogrosso is the Founder of Franchise Growth Solutions,

As we all know, the digital realm is continuously evolving, and to keep pace with this rapid evolution, it’s essential to update and refresh your franchise’s website regularly. This isn’t just about keeping up with the latest web design trends; it’s about providing an optimal user experience, improving lead generation, and enhancing conversion rates.

Why is this so important? Here’s why:

Lead Generation: Your website is often the first point of contact potential franchisees have with your brand. An outdated site can give the impression that your business isn’t keeping up with the times. A refreshed and updated website attracts more visitors and converts those visitors into quality leads.

Conversion for Inquiries: An intuitive, easy-to-navigate, and modern website decreases bounce rates and encourages visitors to stay longer, thereby increasing the chances of conversion. It’s all about making it easy for a prospect to inquire – forms, contact information, and chatbots all play a part in this.

Using Video and Photos: A picture is worth a thousand words, and a video is worth even more! Including engaging multimedia content is a powerful way to tell your brand’s story, showcase your products/services, and engage with your audience in a meaningful way. Plus, multimedia boosts SEO, pushing your site up search engine rankings further!

Links to Other Websites: A well-linked site is a well-ranked site. Including outbound links to relevant and authoritative websites boosts your SEO and enhances the user experience by providing additional valuable information. Similarly, getting other sites to link to yours can improve your search engine rankings and increase traffic.

Remember, your website isn’t just an online brochure; it’s a dynamic platform that can be a powerful tool in your franchise development strategy. So don’t let it gather dust – keep it fresh, engaging, and on the cutting edge of digital trends.
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About the Author
Gary Occhiogrosso is the Founder of Franchise Growth Solutions, a co-operative based franchise development and sales firm. His proprietary “Coach, Mentor & Grow Program” focuses on helping Franchisors with their franchise development, strategic planning, advertising, selling franchises and guiding franchisors in raising growth capital.

Gary started his career in franchising as a franchisee of Dunkin Donuts before launching the Ranch *1 Franchise program. He is the former President of TRUFOODS, LLC a 100+ unit multi brand franchisor and former COO of Desert Moon Fresh Mexican Grille.

Gary was selected as “Top 25 Fast Casual Restaurant Executive in the USA” by Fast Casual Magazine as well as named Top 100 Franchise Influencers three years running.

In addition, Gary is an adjunct associate professor at New York University on the topic of Entrepreneurship and Franchising. He has published numerous articles on the topics of Franchising, Entrepreneurship, Sales and Marketing.
He was the host of the NYC’s “Small Business & Franchise Radio Show” and currently the host of the podcast “MasterMind Minutes.” Gary is also the publisher of the online magazine FranchiseMoneyMaker.com as well as a contributing writer for Forbes.com

20 KEY FACTORS FOR FINDING A BETTER LOCATION

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Photo by Erik Mclean

A broker specializing in retail/restaurant real estate can be a huge resource in navigating through these puzzle pieces. And the landlords usually pay their fees, making this service free of charge to the business owner.

20 Key Factors For Finding a Better Location
By David Simmonds – Founder & President, RESOLUTE RE

Finding the right location is one of the most important processes you will be engaged in for your business. Like the old adage goes: location, location, location. Many factors go into site selection for your business. In this article, I’ll discuss the factors to consider about the retail space itself.

Size of space needed

• Do you need an end cap, or are you willing to go in-line? Do you need a freestanding location and/or a drive-thru?
• Construction budget
• Anticipated sales projections Rent is always a function of sales, and most businesses want their rents to be between
6%-8% of their total costs to run the business.
• Rent/NNN budget…make sure that you are realistic about what can be achieved in the market/s that you are looking at
and how that compares to your budget
• Do you need referrals for a general contractor/architect/etc? Do you have a prototype for your layout?
• Which kind of tenants do you want to be around or stay away from?

Interior of the space:

• What size HVAC do you need?
• Do you need the space to come with equipment left behind by the previous tenant? 2nd gen restaurant space, for
example, could save a restauranteur a lot of capital. Or could you do new construction or a plain Jane retail space?
For example, if you would do a non-2nd gen restaurant space, how much would it cost to retrofit a space?
• Do you have to have natural gas?
• What size electrical service do you need?
• Do you need a grease trap or a vent-a-hood
• Does your space need to be sprinkled?

Selling yourself to landlords:

• What kind of credit will be going on the lease?
• Are you willing to personally guaranty the lease?
• Where is your source of funding coming from to do this new location?
• Your Resume: Have you worked for a competitor in the past, or do you have existing stores? If so, how long have you
been in business? If not, do you have a resume showing your operations prowess?

Use a professional broker

A broker specializing in retail/restaurant real estate can be a huge resource in navigating through these puzzle pieces. And the landlords usually pay their fees, making this service free of charge to the business owner. When hiring such a broker, engage in a meaty interview process:

* Ask for and check References
* How many similar-type deals has that agent closed in the past week, 30 days, 60 days, and YTD?
* If he works in other commercial real estate verticals, such as office, industrial, land (not related to retail), farms & ranch, medical or investment sales, for example, how much time does that agent spend working in those verticals versus retail/restaurant?

I highly recommend a broker who specializes in the retail/restaurant field. That broker will have the expertise, knowledge, and relationships in the market to get you the best space for your business. It’s an exciting journey you are embarking on…you’ll never forget it!

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About The Author: DAVID SIMMONDS

David Simmonds founded RESOLUT RE in January of 2009 and has since built a massive, international, 3rd-party brokerage platform. RESOLUT RE has 6 offices across Texas (Dallas/Fort Worth, Houston, Austin/San Antonio, McAllen, Midland & El Paso), and serves the great states of Louisiana and New Mexico out of offices in Lafayette, Albuquerque and Santa Fe.

RESOLUT RE represents 68 tenants nationally/internationally. We have the ability to service our clients’ expansion needs anywhere in the United States and up to 130 countries around the globe.

RESOLUT RE markets over 800 projects and exclusively represents over 250 tenants regionally across Texas, New Mexico and Louisiana.

David is a member of the International Franchise Association (IFA) and the International Council of Shopping Centers (ICSC) and received a Bachelor of Arts degree in Economics from Columbia College/Columbia University in New York City.

Press Release – Oath Pizza Franchisee Partner Launches New Fast-Casual, Feel-Good Pizza Concept in El Segundo

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Oath Pizza Franchisee Partner Launches New Fast-Casual, Feel-Good Pizza Concept in El Segundo
Press Release supplied by Oath Pizza

El Segundo, Southern California – El Segundo, we have some delicious news for you! Franchise Group Brothers Empire, made up of partners Mandeep Singh, Kulwant Jafal, and Garish Talwar opened a new Oath Pizza location right here, celebrating their Grand Opening on Friday, May 26th. Our team is incredibly excited to bring its feel-good menu and experience to life in such a vibrant hub of Southern California. Oath El Segundo will beautifully highlight the team’s updated brand design, take-out, and delivery-focused prototype, alongside its seamless and rewarding online ordering capabilities. Join us on our mission to inspire happiness under this new and exciting leadership group.

“We could not be more pleased and encouraged by our partnership with Mandeep and his family in bringing Oath Pizza to the Los Angeles community. I have great respect for the roots of elevated pizza, and as a personal hero of mine, hope we are able to live up to Wolfgang’s high standards and proud tradition. Thank you for the opportunity L.A.!” – Drew Kellogg, CEO
Oath was founded to help our guests eat better without having to give up the food we all love most, Pizza! Our flagship store on Nantucket Island was born in 2015, and we have since become known for our award-winning crust: hand stretched (with love!), grilled, and seared in avocado oil. What is Oath? Oath is a team of like-minded individuals that strive for individual excellence, to empower themselves and those around them, and to have some fun! Delicious food crafted by hand selected teams is our vehicle to bring this vision to life. “The crew is ecstatic and eager to provide the tastiest pizza in town. We are convinced that you will fall in love with both our pizza and our service.” – Mandeep Singh, Franchise Co-Owner

Let’s talk about the Oath Experience. Our goal is to provide you with pizza in whatever way works best for you. If you are looking to dine in and hang out with us (yay!), simply walk in, someone from our team will greet and walk you through our menu options. Looking for a quick grab and go? Our experience is designed to be fast paced with our ovens that cook our pies within just a minute and a half… Yes, you read that correctly! We of course offer delivery & pick up options as well. Our recommendation is to place your orders directly through our website or app, so that you can take full advantage of our loyalty program. Delivery is also available from your choice of third party platform: ubereats, doordash, grubhub, and more.
“Oath is about great pizza, pure and simple. As the leader of Oath’s operations, my job is to make the system easy to train, and easy to execute, so that the pizza can shine. Pizza is a happy experience and our mission is to inspire happiness, one pizza at a time. We can’t wait to meet you!” – Dave Jamieson, VP Operations

Oath continues its nationwide expansion through its optimization of the brand and business under the leadership of former Chipotle executives. Oath franchising is now available to applicants nationwide. The opportunity has quickly risen to a top business consideration for its future-forward advantages: a small footprint, simple operation, reliable supply chain, and minimal labor requirements per shift. Oath Pizza’s better-for-you product and brand intersect the billion-dollar-and-growing pizza industry and trillion dollar global wellness market. Want to join the quickly growing team of Franchise Partners? Learn more here.

We always welcome any questions or requests for further information about the opening, and are excited to continue sharing our story with the first (of many!) new locations in this community. Our team is always available to provide interviews, arrange visits to the restaurant, and share what we’re all about. Oath Pizza has not only a unique story, but a unique mission driven by intentional values, and we are eager to share this.

For more information about becoming an Oath Pizza franchisee, please contact: [email protected]
Learn More Here: https://franchisegrowthsolutions.com/listing/oath-pizza/

(FRANCHISE OFFER MADE BY PROSPECTUS ONLY)