TIPS TO MARKET YOUR RESTAURANT DURING THE HOLIDAY SEASON

Photo by Jed Owen on Unsplash

If you plan ahead and get people excited, they will come.
The holiday season is a busy one. People are going to be traveling, and they’re going to be in a rush. Your restaurant may miss out on potential sales if you don’t plan. You can cash in on the holiday season with careful planning and targeted marketing strategies.

TIPS TO MARKET YOUR RESTAURANT DURING THE HOLIDAY SEASON
By: Dom Hemingway

Introduction
For many of us, the holiday season is a time to reconnect with friends and family. For restaurant owners and chefs, it’s a chance to make extra money. The holiday season brings out the best in people—and it also brings out their appetite. So take advantage of this opportunity by creating ways to get people excited about your offering. Here are my top tips for doing just that:

Offer exclusive menu items.
Offer an exclusive menu item. What do you have that nobody else does? If you’re a vegan restaurant, maybe it’s a killer dish made with cashews and lentils. If you’re a steakhouse, maybe it’s the most amazing prime rib ever. Whatever it is, draw inspiration from the season and create something. Get people talking about your place as they post photos of their meals online—and then offer this special only for a short period (say, one month). This gives them the incentive to visit sooner than later and will make them feel like they just missed out on something extraordinary if they don’t act quickly enough!
Use social media to promote the special: Promote your limited-time offer on Facebook and Twitter as well as through local newspapers in print ads or even billboards along significant highways nearby—whatever works best for your budget! You can also use hashtags like “#holidaymenu” or “#christmasdinnerspecial” so that customers can easily find information about what makes these deals so great by searching for them in search engines like Google or Bing when looking up keywords related precisely to those terms.

Offer coupons:
This is another way of encouraging customers. Those customers who might not have heard about your holiday specials yet (or are still deciding whether it’s worth trying out) without having spent much money upfront, hand out paper copies at check-out counters or mail them directly home with customers who order over the phone lines.
Use loyalty programs: Not only does this incentivize repeat customers, but it also helps build brand loyalty since everyone loves feeling rewarded after returning!

Spice up your social media presence:

Social media can be a powerful tool for your restaurant. You can use social media to create buzz about your restaurant, promote new menu items and events, and give customers insight into the workings of your kitchen.
Post photos of your food and happy customers on Instagram, Facebook, or Twitter! It’s also a good idea to create a unique hashtag for your restaurant so that people who want more information about it can find it (for example, #greatrestaurant).
Get festive with decor and holiday-themed dishes
Decorate your restaurant with festive colors.

Offer holiday-themed dishes and desserts:
Offer a special holiday drink special during December, such as hot chocolate or eggnog milkshakes.
Get customers in the mood to be generous by offering gift card promotions, like buy one get one free, where they can buy one gift card at the total price and get another for half price! This also helps you build your customer retention rate too!
The best way to make money off any promotion is when it’s done right—get people excited about returning because they got something great out of it! That’s why we recommend having some loyalty program in place before starting any promotions so that you know exactly how much each customer has spent over time–and thus how much they’re worth (in terms of dollars) based on their average order size at each visit.”

If you plan ahead and get people excited, they will come.
The holiday season is a busy one. People are going to be traveling, and they’re going to be in a rush. Your restaurant may miss out on potential sales if you don’t plan. You can cash in on the holiday season with careful planning and targeted marketing strategies.

Planning Ahead Can Turn a Holiday Season into Profits
Planning for an event like the holidays isn’t just about organizing parties or buying new decorations for your restaurant—it’s about thinking about how these activities will affect your business and how customers will react to them on social media sites like Facebook and Twitter. For example: If you have decided to host an open house party at your restaurant during Thanksgiving weekend (or any other weekend), consider what type of food will be served; whether or not it’s appropriate for children; whether there should be seating available outside; what kind of beverages should be served (alcoholic drinks are subject to varying regulations); how much time people need between eating their meal and driving home safely; etcetera!

Conclusion
A successful holiday season is all about two things: planning and being creative. If you’re looking for additional inspiration, take a look at some of the things we’ve done here at www.frangrow.com We’d love to hear your ideas in the comments below!

* * MasterMind Minutes * *

Each episode runs approximately 20 to 25 minutes and features an expert guest covering one question. The entire series is posted & update on this page so you can binge watch back-to-back “episodes”. New episodes are added each month so keep coming back to view the experts on an insightful topic that is sure to help you build, grow and run your business.

Photo by AbsolutVision on Unsplash

www.franchisegrowthsolutions.com

================================================

POSITIONING YOUR BRAND TO WIN, DETERMINING TRENDS INFLUENCING YOUR INDUSTRY, ANALYZE + ACT

MasterMind Minutes – One Guest – One Question – One Expert Answer in Minutes not Hours. Today’s Guest is Shelly Sun.

Shelly Sun is the CEO and Founder of BrightStar Care a national home care and medical staffing franchise with more than 365 locations that provide medical and non-medical services to clients within their homes, as well as supplemental care staff to corporate clients. Shelly is a dynamic and forward-thinking leader passionate about helping aspiring entrepreneurs become successful business owners. Shelly grew BrightStar Care from a local business to a $639M national enterprise. By franchising the concept, she was able to diversify & localize the brand’s operations, positioning franchisees to become prominent business owners. In 20 years, BrightStar Care has grown to over 365 locations, becoming the provider of choice for thousands of clients nationwide.

Shelly is also a well-known leader within the global franchising industry, serving as the 2017-2018 Chairwoman of the International Franchise Association (IFA), a top 25 association. Shelly was named IFA 2009 Entrepreneur of the Year and is a Certified Franchise Executive. Shelly published her first book in 2011, Grow Smart, Risk Less, where she discusses her journey as an emerging franchisor through growth, lessons, and game-changing ideas. Shelly and BrightStar Care were featured on an episode of CBS’ Undercover Boss, as the first franchise brand ever chosen on the show. Harvard Business School has written a case study about BrightStar Care’s expansion under Sun’s leadership. Prior to founding BrightStar Care, Shelly was a Certified Public Accountant and held executive positions with United Airlines, CNA Insurance, and BlueCross BlueShield.

An innovative, forward-thinking trailblazer, Shelly is focused on driving results, building a strong culture, and delivering the highest quality care by building a network of like-minded small business owners to activate her brand vision. Shelly’s strategic mindset to innovate, create new opportunities, and increase her brand’s market share drives brand growth and performance.

Learn more about Shelly and Bright Star: https://www.brightstarcare.com/
Contact Gary: [email protected]
Visit: www.frangrow.com

================================================
IS A MYSTERY SHOP PROGRAM VITAL TO YOUR CUSTOMER’S EXPERIENCE AND YOUR SUCCESS?

MasterMind Minutes – One Guest, One Question, One Expert Answer in Minutes not Hours.Today our guest is Kurt Eddins.
Kurt is the Owner and President of 360 Relay (formerly known as 360 Intel and Goodwin Hospitality over the last 20 years). 360 Relay provides an array of services centered on gathering various types of customer feedback, with mystery shopping being the primary service. Their portfolio of clients ranges from national chains all the way down to single units.

Kurt has been involved in the mystery shopping industry going back to his high school years, starting out in the family business setting (known Goodwin Hospitality at the time and then ultimately coming on board full time in a managerial role after graduating from UNH in 2012.
Contact Kurt at: https://www.360-relay.com
Contact Gary at: [email protected]
Visit: www.frangrow.com

==================================
HOW TO MOLD A MINDSET OF SUCCESS IN BUSINESS AND IN LIFE.

MasterMind Minutes One Guest One Question, One Answer. Today my guest is Darrell Bennett. Mr.Bennett is a Harvard Law School alum, former attorney and the founder of The B-Squared Global Group and creator of the Kingdom Wealth Circle, who has helped more than 100 business owners create more than $10M in profit and has sizable equity stakes in dozens of profitable enterprises.

Also known as The Comeback King, for his Voice, his personal story and his work helping people turnaround negatives into positives, Darrell has helped more than 100 people launch their business dreams.

In 2022, Darrell turned his personal memoirs, Come. Back. Swinging., into a Mentorship Accelerator, to help people beat the odds and break down barriers in their personal lives and business endeavors.

Contact Darrell via LinkedIn: https://www.linkedin.com/in/darrellbennett/
Contact Gary: [email protected]

===================================

CREATING A UNIQUE EXPERIENCE FOR PEOPLE IN THE PET SERVICE BUSINESS

Today our guest is Michelle Boggs. Michelle is the Managing Partner at MUTTS Canine Cantina, so she oversees MUTTS’ brand development and is well connected with the brand’s ongoing media and marketing efforts which have been crucial in MUTTS’ growth since their 2019 announcement to franchise. She is also the co-founder of McKinley Marketing Partners, a marketing consulting firm based in Virginia.

With her leadership, she has attracted hundreds of franchise leads and presented multiple ways to help position MUTTS as an unrivaled, first-of-its-kind restaurant, bar and off-leash dog park concept. I’m positive she has a wealth of valuable insight to share with your listeners that could help them grow their businesses and position them at the forefront of their industry.

Contact Michelle at: https://muttscantina.com/
Contact gary at: [email protected]
———————————-

HOW TO SUSTAIN GROWTH LONG-TERM VS. JUST SURVIVING TOMORROW.

Master Mind Minutes – One Question – One Question – One Answer in Minutes Not Hours. Today our guest is Ed Quinlan.
Ed is the President of Chem-Dry, part of the BELFOR franchise group. Chem-Dry is the world’s leading carpet and upholstery cleaning service with a network spanning 55 countries, serving over 11,000 homes and businesses a day worldwide.

Ed oversees business support services for Chem-Dry’s franchisees, including training and business coaching programs designed to improve performance and the implementation of software improvements designed to make business easier and more profitable.

Contact Ed: https://www.chemdry.com/
Contact Gary: [email protected]
Visit: www.frangrow.com

——————————————-

KEY CHALLENGES EMERGING FRANCHISORS FACE AND HOW TO OVERCOME THEM?

Today our guest is Tom Spadea..
Tom is the co-founder and Partner at Spadea-Lignana Law. The firm has offices in Philadelphia and NY and specializes in the areas of: Franchising, Buying or Selling a Business, Lease Negotiation, Litigation, Commercial law and Securities Law
But Tom didn’t start out as an attorney. He has a vast entrepreneurial background. He was the co-owner and President of a communications equipment manufacturer where he co-founded a factory in Latin America, successfully created an international sales network in Asia and invented a product for which he was granted a US Patent.
He spent more than 15 years in corporate and entrepreneurial positions before completing law school.
Tom has been named a “Legal Eagle” by Franchise Times magazine, a distinguished award recognizing Tom as a leader among his peers in franchising.
He is also the founding member of the Philadelphia Franchise Association and is the current President and Chairman.

Contact Tom at: https://www.spadealaw.com/
Contact Gary at: [email protected]
Visit: www.frangrow.com.
==========================

KEY TIPS FOR FRANCHISEES AND FRANCHISORS ATTEMPTING TO SECURE FINANCING FOR THEIR NEW BUSINESS, LLC
https://youtu.be/PkG_7ydGZ-o

Today our Guest is Beegees Hebert Senior Account Manager
Beegees came to Guidant in 2011, and since then, she’s become a small business financing aficionado. Every day, she puts her superior listening skills to good use to become a true advocate for her clients. As an Account Manager, she’s committed to helping individuals identify and deploy the financing solution(s) that will help them reach their short- and long-term goals, making the process to funding as smooth as possible.
Beegees also has firsthand knowledge of what it takes to run a small business or franchise. Prior to joining Guidant, she served as the General Manager for a chain of tanning salon franchises, and before that, she was the Sales & Marketing Director for an independent health and fitness business. Today, she uses that experience to relate to clients and provide firsthand advice.
Contact Beegees at. https://www.guidantfinancial.com/abou…
Contact Gary at: [email protected]
Visit www.franchisegrowthsolutions.com
Visit: www.franchisemoneymaker.com

=======================================================
MasterMind Minutes – WHY DOES FRANCHISE EXPERIENCE MATTER?
Our guest today is John Ramsay of Noodles & Company.

With over 28 years of experience in restaurant franchise sales and development, John Ramsay joined Noodles & Company in November of 2020 as the vice president of franchise sales. Prior to Noodles, John most recently held positions in franchise and restaurant growth efforts for Bruxie International and Marco’s Pizza Franchising. John’s successful career includes the growth of over 900 restaurants across all 50 states and 12 different countries. Having graduated from Virginia Tech University with an architecture degree, his vast skill set came through during his early career positions in design, construction and real estate for brands such as T.G.I. Friday’s and Jack in the Box.
A resident of southern California, John and his wife love traveling and spending time with their two kids in their free time.

Contact John at www.noodle.com
Contact gary at: [email protected],
Visit www.frangrow.com
Visit: www.franhisemoneymaker.com

============================

DEALING WITH RESTAURANT SUPPLY CHAIN ISSUES

Our Guest today is Bob Ray, who has been with Margaritas since 1992 in a wide variety of positions, became an owner and board member assuming the role of Chief Operating Officer. The brand also expanded its leadership team to include a star-studded mix of owners and board members with decades of experience managing and growing successful restaurants.

For more information about Margaritas’ franchise opportunities, visit www.margs.com/franchising/overview.
Contact Bob at: https://www.margs.com/Contact Gary at: inforwww.frangrow.com
Visit: www.frangrow.com
Visit www.franchisemoneymaker.com

=================================

WHAT ARE THE INNOVATIONS AND KEY DIFFERENTIATORS THAT HAVE LED McALISTER’S DELI TO ACCELERATED GROWTH OVER THE LAST FEW YEARS?

Our Guest today is; Mike Freeman, Chief Brand Officer, McAlister’s Deli
Mike has been working with the brand for 13 years and most recently served as vice president of operations.
Mike started as an assistant general manager at the McAlister’s Deli in Bossier City, La. He has worked in various operations and training leadership roles.
Contact Mike at:https://www.mcalistersdeli.com/
Contact gary at: [email protected]
visit: https://www.franchisegrowthsolutions….
visit: https://www.franchisemoneymaker.com/

==================================

WHY IS IT MORE IMPORTANT THAN EVER FOR LEADERS TO HONE THEIR LISTENING SKILLS & HOW CAN THEY DO THIS
MasterMind Minutes shares expert business information in Minutes Not Hours.

My guest today is Stephen Kohler. Stephen is the Founder & CEO of Audira Labs. Audira Labs enables leaders, teams and organizations to amplify their leadership through transformational 1:1 executive coaching and, music-infused, experiential team effectiveness workshops.
Contact Stephen at: https://audiralabs.com/
Contact Gary at: [email protected]
https://www.franchisegrowthsolutions….

==============================

MasterMind Minutes INVESTING IN PUBLICLY HELD RESTAURANT COMPANIES -WHAT DID THE PANDEMIC TEACH US?
Today’s guest is Roger Lipton – Roger is an investment professional with over 4 decades of experience specializing in chain restaurants and retailers, as well as macro-economic and monetary developments. After earning a BSME from R.P.I. and MBA from Harvard, and working as an auditor with Price, Waterhouse, he began following the restaurant industry as well as the gold mining industry. While he originally followed companies such as Church’s Fried Chicken, Morrison’s Cafeterias and others, over the years he invested in companies such as Panera Bread and shorted companies such as Boston Chicken.
Contact Roger at: https://www.liptonfinancialservices.com/contact/
Contact Gary at: [email protected]
www.franchisegrowthsolutons.com

=========================

MasterMind Minutes – BIGGEST CHALLENGES FACING A START UP OR EMERGING BRAND FRANCHISORS?
One Guest – One Question – One Expert Answer – Minutes Not Hours

WHAT ARE THE BIGGEST CHALLENGES FACING A START UP OR EMERGING BRAND FRANCHISORS? Today’s guest is Evan M. Goldman. Evan is a partner at A.Y. Strauss and serves as chair of the Franchise and Hospitality practice group and co-chair of the Litigation practice group. Evan is a leading expert on franchises, working closely with both franchisor and franchisee clients to draft, negotiate, and register disclosure documents, franchise agreements, and related key documentation. Evan represents franchisor and franchisee clients in dispute categories such as terminations, breach of contract, trademark disputes, fraud claims, employment matters, and enforcement of non-competes.
Contact Evan at:https://www.aystrauss.com/professionals/evan-m-goldman-esq/
Contact gary at: www.franchisegrowthsolutions.com

========================================
========================================

IN THIS TIME OF UNCERTAINTY, PANDEMICS, SOCIAL UNREST AND A TUMULTUOUS ELECTION YEAR, HOW CAN PEOPLE STAY MOTIVATED AND WORK TOWARD A MORE POSITIVE PERSONAL AND COMMUNITY FUTURE?

Today my guest is Jermain Miller, the Founder of MiLL Real Estate and CEO of Jermain Miller Consulting.
Prior to launching MiLL RE in 2015, Jermain carved his way to being one of the top real estate professionals in NYC after being homeless and starting with only 93 cents in his bank account.
He is a best selling author of two and soon to be three books Wake Up and Win and now Wake Up and Live…
You can reach Jermain at: [email protected]
You can reach Gary at: [email protected]
www.franchisegrowthsolutions.com
www.franchisemoneymaker.com

IN THE CURRENT ECONOMIC CLIMATE & LENDING ENVIRONMENT, WHAT ARE BANKS LOOKING AT WHEN CONSIDERING A BUSINESS LOAN.
Today’s guest is Reg Byrd.
Reg is the Managing Partner DCV Franchise Group
For over 25 years Mr. Byrd has been a business venture strategist assisting entrepreneurs with a focus on financing, business plan development, financial projections and blueprints for aggressive return on investments. The scope of his work ranges from sole proprietorship businesses to capital intensive Fortune 500 hotel development projects. To date, DCV Franchise Group has served more than 300 franchise systems placing debt for franchisees in the U.S., Puerto Rico, Panama and Canada.
Contact Reg at https://lnkd.in/eDhmeqs
Contact Gary at: [email protected]
Learn more at: https://www,https://lnkd.in/d89cb29

HOW TO EVALUATE A STARTUP OR EMERGING BRAND FRANCHISE WITH ONE OR NO FRANCHISEES?
Our Guest Today is: Ed Teixeira.
Ed has over 40 years of experience in the franchise industry and is the VP Franchise Development for FranchiseGrade.com a leading franchise market research firm. Ed is the author of Franchising from the Inside Out and The Franchise Buyers Manual and has spoken before the International Franchise Expo, Chinese Franchise Association in Shanghai, China and has lectured at the Stony Brook University Business School on Franchising.
Contact Ed at: https://www.franchisegrade.com/. 1-800-975-6101
Contact Gary at: [email protected]
Learn More About Franchising: https://www.franchisegrowthsolutions.com

WHAT SHOULD EMPLOYERS THINK ABOUT WITH RESPECT TO LIABILITY CONCERNING EMPLOYEES GETTING CORONAVIRUS AT THE WORKPLACE?
today’s guests are:
Joel Greenwald is the Founder and Managing Partner of Greenwald Doherty LLP, a national management-side employment law firm. Focusing on labor relations and employment law. AND Michael Einbinder is a founding Partner of Einbinder & Dunn. He is a participating member of the American Bar Association Forum on Franchising.
Contact Michael at: [email protected] – Contact Joel at:[email protected]

HOW A COMPANY CAN SUPPORT THE COMMUNITY, ITS EMPLOYEES AND ITS FRANCHISEES IN TIME OF CRISIS – Today’s guest is Hector Westerband. Hector is the Founder and CEO of ACAI EXPRESS. He has over 20 years in the hospitality industry. He was introduced to the amazing Acai Stone Fruit. It was there where he started his own Acai Food Truck Called Acai Express in 2013.development.
Acai Express: https://lnkd.in/eESYZ6U

WHAT ARE THE FRANCHISE BRANDS THAT ARE DOING WELL DURING AND WILL DO WELL AFTER THE PANDEMIC? – Today’s guest is Lance Graulich
Lance is the founder & CEO of ION Franchising, an industry leading franchise consulting and development group, that represents over 500 franchise brands & business opportunities within 90 categories. Lance helps prospective entrepreneurs find their perfect franchise for FREE.

ARE YOU OVERLOOKING POTENTIAL MONEY SAVING CHANGES IN THE FEDERAL TAX LAWS THAT WERE INCLUDED IN THE COVID STIMULUS BILLS? – Today’s guest is MICHAEL IANNUZZI
Michael Iannuzzi is a partner and co-leader in Citrin Copperman’s franchise practice providing a variety of services to a wide spectrum of clients within the franchise community.

GROWING YOUR FRANCHISE COMPANY POST COVID-19 – Today’s guest is Harold Kestenbaum.
Harold is a franchise attorney who has specialized in franchise law and other matters relating to franchising since 1977. https://youtu.be/OOCXqhGPA_U

WHY DO FRANCHISEES FAIL – Today’s guest is Tom Scarda, CFE, Founder & CEO of the Franchise Academy, Best selling author and Podcaster.

================================================================

MATTO FRANCHISE
A Revolution is Brewing
LEARN MORE HERE:
https://www.mattofranchise.com/

=================================================================

HOW ARE BANKS RESPONDING TO LOANS FOR NEW BUSINESSES?
Today’s guest is Reginald Heard – Founder and CEO of Bankers One Capital.

HOW ARE YOU MARKETING AND GETTING THE WORD OUT THAT YOUR BUSINESS IS GETTING READY TO REOPEN? Laura Skulman, Director of Marketing and Events for B&D Burgers in Savannah Ga.

HOW FRANCHISORS ARE CREATING A DIGITAL STRATEGY AS THE ECONOMY OPENS UP – Today’s guest is Aubree Coderre, National Sales Manager at C-Squared Social

Stephen McCluskey Insurance Expert – Discussing what you can do if your Insurance Company is not paying business interruption insurance due to Covid 19 closure

Michael Einbinder – Founding Partner of Einbinder and Dunn, a Law firm focusing on the needs of franchisees and franchisors

===============================================================

MATTO FRANCHISE
A Revolution is Brewing
LEARN MORE HERE:
https://www.mattofranchise.com/

================================================================

OPPORTUNITIES TO OPEN A RESTAURANT NOW! Today’s guest is David Simmonds – Commercial Rental Expert

MasterMind Minutes – One Question – One Expert Answer – Minutes Not Hours
Our guest today is Doug Smith… He is the Director of Sale for ROI Experts which is a digital marketing agency that works with restaurants around the world. ROI Experts generates trackable ROI using their unique ROI engine platform. Doug is 27 year veteran of the radio, sales and marketing. Visit their website at www.roiexperts.com‍

What To Consider When Purchasing A Franchise

Photo by Estée Janssens on Unsplash

Summary: To select the ideal franchise company to join, you should first find a company with a proven track record of success. A good franchisor will have been in business for at least two or three years and be able to demonstrate the growth potential of its products and services. The best way to do this is by looking at how many franchises they currently have in operation and are they profitable. A robust and growing network often indicates a successful brand.

10 Key Points To Consider When Purchasing A Franchise
Originally published in Forbes.

By Gary Occhiogrosso, Managing Partner Franchise Growth Solutions

If your goal is to purchase a franchise, choosing the right franchise brand to invest in is one of the most important decisions you’ll make as a business owner. It’s not just about finding a company with a proven track record but also finding one that fits your personality and lifestyle. Your first step, is knowing what to look for when you’re evaluating potential franchises. Here are some key areas to consider:

Franchise Fees
Franchise fees are one-time payments made when purchasing a franchise. These fees can range from $10,000 to $100,000 and are used to pay for the rights to use the name, the procedures and any systems developed by the franchisor. It is also used to cover costs for training and opening support by the franchisor to assist the franchisee with the opening of their franchise. Franchisors usually charge their franchisees up-front fee when the franchise is granted. In addition, post Covid initial “turnkey” investments may be higher than in the past due to supply chain issues, inflation, and increased cost of equipment and leasehold improvements between brands.

Royalty Fees
Royalty fees are the amount of ongoing money (usually a percentage of gross sales) you pay to the franchisor for using their brand name and ongoing support such as marketing and developing new products or services for the franchisee. As a franchisee, you are required to pay royalties based on a portion of your sales. This percentage may be fixed or fluctuate on a sliding scale based on sales.

Term Length
Franchise term length can be a good indicator of how much the Franchisor invests in their franchisees.
On average, depending on the type of franchise, home based vs a retail location, franchise brands have terms that last ten years or less. This means there’s plenty of time for the franchisee and franchisor to work together and develop a solid relationship. Still, it also means that the franchisee may not be allowed to retain the business if something doesn’t work out. If a franchisee is underperforming, the franchisor may not renew the franchise agreement once it expires, or may seek to terminate the franchise prior to the full term. In such a case, the franchisee must exit the business. In many instances, there will be a contractual obligation that the franchisee cannot open a similar business for a period of time within a certain distance from their original location. This is called a non-compete clause.

Consider Your Lifestyle.
* Consider the lifestyle you will have while running the business.
* Look at the hours of operation. You don’t want to buy an 80 work week.
* Review flexibility of franchisor with respect to new products, relocation and other variables.
* See if the location makes sense for you. You will need to manage the location or develop a team to manage the day-to-day operation for you.
* Check out the type of work needed to run the franchisee. Make sure it fits your skill set and interests, including whether it’s something you’d enjoy doing as a full-time job.
Seeking the advice of a professional franchise consultant can be an extremely useful method when evaluating if a franchise is the right business model for you. Scott Milas, a Certified Franchise Executive (CFC) and Certified Franchise Consultant (CFC) with The International Franchise Professionals Group recommends you consider these questions: “What is your “Know” and “Why?” Understanding “why” you are interested in owning your own business, and “knowing” who you are, are critical steps in choosing the right opportunity. A self evaluation and clear picture of your skill sets and eventual end game- exit strategy, will help ensure that you invest in the right opportunity. Better to “know” now then after you made the wrong decision. “Why” now?
An experienced franchise consultant can assist you in answering those questions and choosing a brand that’s a good lifestyle fit as well as one that offers opportunities to meet your business goals

Look For An Experienced Franchisor
To select the ideal franchise company to join, you should first find a company with a proven track record of success. A good franchisor will have been in business for at least two or three years and be able to demonstrate the growth potential of its products and services. The best way to do this is by looking at how many franchises they currently have in operation and are they profitable. A robust and growing network often indicates a successful brand. In addition, it demonstrates that customers value its products or services enough to pay for them again through multiple businesses.
The second thing you should look for when choosing a franchise is reputation—how well does your chosen brand stand up against its competitors? While there may be other similar businesses out there with similar business models, does you selected band have points of difference to separate itself from the competition. It’s essential that you choose one that utilizes high-quality materials, produces consistent results, and provides excellent customer service while maintaining competitive prices at all times.”

Know Your Competition
One of the steps to building a successful franchise business is to know your competition. What brands already exist in the market, and how do they compare? What is their customer base, and what can you learn from them? How do your offerings differ from theirs, and how do these differences help or hinder you as a company?
Tom Scarda a former franchisee and now a franchise coach and consultant offering advice to franchise buyers regarding evaluating the competition and what it may mean to their success as a franchisee “It’s smart to think about a product or service that is needed in your area and consider bringing that sort of business to the town. However, just because there are no batting cages in your town and you think it would do great because there are kids everywhere, you may be right. However, will it make money? Is there some reason why there is no batting cages in the area? When starting a business, you must, must do a comprehensive business plan before anything else. Learn about competition in the area. Understand the local county laws and regulations around the business you’re considering. Be real about the cost to start and run the operation. These are just a few items to consider in a business plan.”

Once you’ve got a handle on who’s out there, it will be easier for you to see where there are gaps in the market—and then fill those gaps with your unique brand identity.

Carefully Review The Franchise Disclosure Document.
Read the legal franchise disclosure document and have it reviewed by a competent franchise attorney. Harold Kestenbaum, a noted franchise attorney with Spadea Law advises: “When considering the purchase of a franchise, I highly recommend retaining the services of an experienced franchisee attorney. Never contemplate purchasing a franchise without seeking the advice of an attorney who has reviewed FDD;s before. I also recommend that you do your due diligence. By that I mean that you should review Item 20 of the FDD and call all of the existing franchisees who are in your general area.”

There are additional factors to consider when reviewing the franchisor’s FDD. According to Richard Bayer, a Partner in the law firm Einbinder & Dunn LLP: “Purchasing a franchise for many first-time business owners will often be one of the top three expensive transactions the franchisee will ever go through in his/her lifetime. Given the severity of the investment, a franchisee must commit to doing due diligence. It starts with speaking with existing franchisees as well as those who left the system. Their contact information can be found in the FDD. The goals from these calls include gaining a better understanding of the economics of the franchise – is it profitable, when is break even reached, do costs (labor or otherwise) or revenues fluctuate significantly making it difficult to predict performance. Equally important is getting a sense of the franchisor’s temperament – is the franchisor supportive, does the franchisor go above and beyond legal obligations (imposed in the franchise agreement) to deliver for its franchisees, is the franchisor forward thinking and/or technology driven. The FDD is a great source of information about a system, but it is has gaps that can be filled in quite nicely by franchisees in the system and by those who left. Purchasing a franchise without speaking to as many franchisees as possible is a lost opportunity.”

Investigate The Franchisor’s Tenure And Track Record of Success
In addition to analyzing the franchisors’ financials, it’s also vital to examine their overall track record. While a strong balance sheet is an essential indicator of a business’s health and stability, it doesn’t tell you much about how they’ve fared over time. So, for example, if you’re looking at two franchises with similar books and financials, but one of them has been around for four years while the other has been operating since say, 1899, it would make sense to choose the latter in this case—even if everything else on paper looks the same.
This information can be gleaned from third-party sources such as Dun & Bradstreet or franchise trade magazines or by visiting the website of the International Franchise Association. Always go directly through your Franchisor before getting this data yourself so that they can confirm that everything is correct and up-to-date. In addition, it is vital that you speak with or meet as many existing franchisees as possible before you make your final decision.

What Are The Brand’s Training Programs And Support?
When you buy a franchise, you’re not just buying the rights to use its brand name. You also get access to training programs, mentoring, and support from the Franchisor. These must be proven and effective; otherwise, it can be challenging for your business to grow or stay profitable.
You want to ensure that your franchisor is committed to your success as a franchisee. That means offering in-person training (the better option) and or using phone or video calls if necessary. It also means regular advice on running your business and what strategies might help you reach more customers or increase revenue.

Review The Franchisor’s Marketing Plans.
A good franchisor will have a written marketing plan in place. The marketing plan should include a social media strategy and details about how the franchisor plans to use the funds provided through your advertising fees. If you ask for this document, they should be willing to share it with you.

Choosing The Right Franchise Brand Can Significantly Impact Your Success.
We’ve talked about screening potential franchise brands above. Still, there are some other factors that you should also consider when choosing where to invest your time and resources.
Tom Scarda goes on to say “We always hear the phrase, “If you love what you do you never work a day in your life.” That is true if you’re working a job. But a franchise is not a job. It’s a business that allows you to build a lifestyle. In the end, the service or product the business provides doesn’t matter. Of course, it must make sense for the community where you will operate and the concept must be something that you understand. However, you can be a vegetarian and own a burger joint. As the owner you are acting as the CEO and CFO, you’re not flippin’ burgers…well you shouldn’t be. If you are doing the tasks that the business requires then you bought yourself a job and your business will plateau and not be scalable. Scarda adds “Don’t buy a business because it has to do with your hobby. If you do, you will no longer have a hobby and you will probably resent the hobby if you’re trying to pay your mortgage with it. Instead, invest in a business that will give you the time and money to enjoy your hobby until your heart’s content.

Conclusion
It is important to consider all these factors when looking for a franchise brand. Some of them, like the fees and term length, are more straightforward than others. But, if you want to be successful in your franchise opportunity, it’s worth taking the time to research what makes each Franchisor unique thoroughly. A good franchisor will have invested in training programs and support systems that will help you understand how their business works.

Featured Franchise – HEALTH BENEFITS OF DANCE AND GYMNASTICS FOR YOUNG CHILDREN

A Bundles of Tumbles class in action in New Jersey

Summary: Dance and gymnastics are both excellent activities for children to participate in. Both dance and gymnastics help to increase muscular strength, flexibility, and coordination. In addition, dance involves a great deal of physical activity that improves the cardiovascular system of your child by increasing their heart rate and strengthening their muscles.

HEALTH BENEFITS OF DANCE AND GYMNASTICS FOR YOUNG CHILDREN
By: Marianne Ecanosti, Founder and President – Bundles of Tumbles

Introduction

We know that children need to be active and healthy to grow up well. But how do you get your kids off the couch and moving? Dance lessons are an excellent way for young children to get physically active. A study in the journal Pediatrics found that after only one week of dance lessons, children showed increased activity levels and improved their abilities at playing with others.

Research shows that children who participate in physical activity regularly are less likely to be obese and more likely to be healthier, fit, active, and self-confident.

Research shows that children who participate in physical activity regularly are less likely to be obese and more likely to be healthier, fit, active, and self-confident. Regular physical activity also helps reduce stress, promote good mental health and improve sleep quality.
And it’s not just about your child becoming healthy — it’s also great for you! Being active together can help you strengthen your bond with your child while staying fit at the same time.

The benefits of dance and gymnastics include increased muscular strength, flexibility, and coordination.

Dance and gymnastics are both excellent activities for children to participate in. Both dance and gymnastics help to increase muscular strength, flexibility, and coordination. In addition, dance involves a great deal of physical activity that improves the cardiovascular system of your child by increasing their heart rate and strengthening their muscles. In addition to these benefits, dance can also help with self-confidence as well as social skills development because it is an activity that encourages participation from others who may be performing alongside them.
Gymnastics teaches children how to control their bodies in motion, improving balance and coordination and overall health benefits such as increased bone density and muscle tone. In addition, gymnasts tend to have lower body fat levels than non-gymnasts due to the amount of exercise they do each week, which contributes towards an overall healthier lifestyle when combined with a balanced diet.

Learning rhythmic gymnastics movements can help children develop large muscle groups and learn spatial concepts.

Rhythmic gymnastics is a sport that combines dance, tumbling, and trampoline. This activity is excellent for improving your child’s balance, coordination and flexibility. It can also help improve their spatial awareness, control, and balance. These are all essential skills needed to perform well in school and sports like soccer or basketball.

Children enrolled in dance classes improve their spatial awareness, control and balance.

Dance and gymnastics classes are the most effective ways to improve your child’s spatial awareness, balance, and control. As a parent, you may be concerned that dance or gymnastics will make your child too hyperactive. However, research shows that children enrolled in a structured program of dance or gymnastics can lead to better self-esteem and lowered anxiety levels.
In addition to improving motor skills, these classes also help kids develop their sense of rhythm and timing. Many times when kids are dancing, they are also listening to music, so this helps them think about how the music makes them feel and how it affects their body movements and other people around them who might be dancing at the same time as well!

Children enrolled in dance lessons also have increased self-confidence, social skills, and awareness of their bodies.
This is very important in a child’s development.

• Increased self-confidence and self-esteem are significant benefits of dance lessons for young children. Dancing helps them grow into their bodies, learn about the world around them, and understand how to interact with others. By participating in classes that teach proper safety techniques (such as how to fall), they also learn about their physical limitations and boundaries for fearlessness.
A child’s confidence level can significantly affect their school experiences or extracurricular activities like dance classes. For example, the more confident a child feels about themselves, the more likely they are to try new things or speak up when they have an opinion on something important (like going out for recess!).

At Bundles of Tumbles, our mobile at-school program offers various classes that help with your child’s development through movement and music. Bundles Of Tumbles is here to help you achieve your goals with your children. Our training style is one on one, where we will work closely with you to create an individualized program for each child. We know that every child learns differently and will cater to each individual’s needs.
We offer classes for children as young as three years old, which include ballet, tap, jazz, hip-hop dance, and gymnastics classes. Courses help children develop physically, emotionally, and socially in a fun environment while building self-esteem!

Conclusion

As you can see, dance and gymnastics classes are a great way to help your child develop physical skills and self-confidence. At Bundles of Tumbles, we offer a variety of classes that help with your child’s development through movement and music.

ABOUT THE AUTHOR:
Marianne Ecanosti is the Founder and President of Bundle of Tumbles, Franchising Group, LLC.. She has teaching dance and tumbling for more than 25 years. My areas of expertise include ballet, jazz, tap and tumbling. I have taught all age groups throughout my career from toddlers through adult, but prefer to focus on pre-school through grade 5. I truly have a passion for what I do! My company, Bundles of Tumbles, is an on-site preschool gymnastics and/or dance enrichment program. We also offer online classes. Franchise opportunities now available! Find out more at https://www.bundlesoftumbles.com/

CONTROLLING LABOR COSTS IN A RESTAURANT

Photo by Charlie Firth on Unsplash

Controlling Labor Costs In A Restaurant
By Johnny Day

Labor costs are a critical part of the restaurant business. The labor costs in your restaurant will vary depending on how much you staff your business, what kind of benefits you offer, how large your staff is, and how much turnover there is. If your labor costs are too high, it can cause issues with profitability. However, if they’re too low, then you may not be able to meet customer demand or provide the level of service that customers expect. Unfortunately, there’s no one-size-fits-all solution for controlling labor costs; every restaurant will have unique factors affecting its labor expenses. The best way to manage these costs effectively is by creating an action plan based on data from previous years’ budgets and actual payroll figures from those same periods. Here are a few tips as an overview to labor cost management.

Control Staffing Costs
Staffing costs are typically the most significant expense in a restaurant. Hence, it makes sense that controlling labor costs is one of your biggest priorities. You can do this by hiring the right people, ensuring you have enough staff to cover shifts and peak times, ensuring you have the right staff for the job, and keeping your team happy and engaged.

As you can see, payroll cost is one of the largest expenses in a restaurant. The good news is that they can be controlled by carefully planning how team members are scheduled according to past sales trends. In other words, if you control your staffing levels and manage employee benefits and turnover while keeping an eye on labor-related taxes, you’ll be well on keeping your payroll costs under control.

Control Employee Benefits
Employee benefit costs can be a significant part of your labor costs. Health insurance and retirement benefits are usually the most expensive. Still, you may also offer additional perks such as vacation time or sick pay. As a business owner, it’s essential to understand what is covered under each employee’s benefits package. In addition, it’s critical to keep these costs in line with your budget and ensure that employees have everything they need to perform their job well. Also important is communicating these details clearly with employees. Take the time to ensure there are no misunderstandings about what they can expect from their benefits package.

Create A Management Staff That Must Multitask
To keep labor costs low, you must have a management staff who can multitask. A manager should be able to manage multiple employees and tasks simultaneously. This means they must be able to effectively prioritize and delegate tasks, as well as address any issues that arise from the execution of those delegated tasks.
To do this effectively, managers need a solid understanding of how their business works. They need to know what positions are required for optimal performance. For example, what duties each requires and how these roles relate to the greater operation (i.e., if an employee is late or leaves early). With this information readily available, managers can quickly decide which tasks they should assign where they’re needed most—and whether or not an employee might need training before taking on new responsibilities.

Optimize Your Team Member Schedule
Optimizing your team member’s schedules is essential in controlling labor costs. Optimizing your schedule ensures that every shift has the correct number of workers and that no worker is over or underutilized. You’ll want to define the problem before starting on a solution, however, so here’s how:
Figure out how many labor hours are used for each shift in your restaurant. Then track this number each day across all shifts
Review the duties performed by each employee during their shift(es), and allocate labor costs per job type (e.g., food service or dishwashing) according to industry standards or best practices
Determine how many hours each job takes based on its nature.

Software Helps Manage Labor Costs
As a business owner, you want to ensure that your business stays profitable. One way to do this is by software designed to help you control staffing costs. Labor management software can help you accomplish this goal by keeping track of time, attendance, and scheduling in one place.
You’ll want to use the right labor management software for your business. Find one that’s easy and efficient to use so that it doesn’t create more work for yourself or your employees (who are already busy enough). It also has to be affordable and reliable to provide accurate data about when employees start and stop working each day.

Conclusion
A successful restaurant can positively impact the local economy, but not if it’s not profitable. Therefore, controlling labor costs in your restaurant is one of the most important aspects of restaurant operations. Follow these few tips and see how they improve your bottom line.

Franchisor Focus: The Franchise Development Process Must Be an Unbroken Chain

A successful franchise development process can be compared to a chain that consists of links that hold a sprocket or wheel together while they run. If one link in the chain is broken it can stop them from running like the franchise development process being interrupted.

Franchisor Focus: The Franchise Development Process Must Be an Unbroken Chain
By Ed Teixeira

When it comes to growing a franchise network, there are fundamental steps that every franchisor should have in place if they expect to grow their system with qualified franchisees.

Successful lead generation and an effective franchise development team are only part of the requirements needed to achieve system growth, along with components needed to attain positive franchise system growth. These other elements in the franchise development process in combination with lead generation and an effective franchise development team can be compared to links in a chain.

A successful franchise development process can be compared to a chain that consists of links that hold a sprocket or wheel together while they run. If one link in the chain is broken it can stop them from running like the franchise development process being interrupted.


(Click to enlarge diagram)

Franchise development chain diagram
The links in the franchise development chain:

1. Profitable franchisees. If franchisees aren’t profitable, it will be difficult for prospective franchisees to obtain positive validation. Even if the franchisor can have positive franchise growth unless the majority of franchisees are profitable it will only be a matter of time before the franchise prospect realizes the situation.

2. Positive franchisee satisfaction. The franchisor must must be aware of its franchisee satisfaction levels. Using their satisfaction surveys and obtaining personal feedback its essential that franchisors know how satisfied their franchisees are with their franchise. If there is negative feedback regarding franchisor support or other issues, they should be corrected ASAP.

3. Effective franchise development team. Whether the franchisor has in-house franchise development staff, uses brokers or employs a combination of both the development team must be experienced and effective. This requires that the results of the franchise development team are competent and achieve results.

4. Positive system growth. The franchisor should be achieving either positive franchise system growth or at least is not losing franchisees except in the case of a startup franchise. Prospective franchisees can be concerned when a franchisor has negative franchise growth or no growth at all.

5. Productive lead generation. It’s necessary that the franchisor is generating sufficient franchise leads for the franchisor team to work. Depending upon the franchise It can take 100 to 200 franchise leads to complete a franchise transaction. Without enough franchise inquiries or leads it can be difficult to recruit qualified franchise candidates.

6. Adhere to franchise qualification standards. Every franchise prospect should be properly qualified and able to meet the standards of the franchisee profile. Without adhering to the proper standards for qualifying its franchise leads there is a risk of granting a franchise to a poorly qualified individual.

7. Maintain Franchisee Engagement. When a qualified franchise candidate is found it is important that the franchisor representative maintain close contact with the candidate and respond to their concerns and questions. When engagement is not maintained the franchise candidate can lose interest in the franchise opportunity.

The franchise development process is akin to links in a chain if one link is broken the chain stops working. When franchisors follow the proper franchise development process it can lead to successful franchise system growth however, when one step in the process is not followed it can result in a lack of franchise growth.

About the Author:
Ed Teixeira is a recognized franchise expert with over 35 years experience in the franchise industry. He has served as a corporate executive for franchise firms in the retail, manufacturing, healthcare and technology industries and was a franchisee of a multi-million dollar home healthcare franchise. Ed is the author of Franchising From the Inside Out and The Franchise Buyers Manual. He has participated in the CEO Magazine Roundtable Meetings with business leaders from around the country and spoke at a number of venues including the International Franchise Expo and the Chinese Franchise Association in Shanghai, China. Over the course of his career, Ed has been involved with over 1,000 franchise locations and launched franchise concepts from existing business models. Ed can be contacted at 631-246-5782 or [email protected].

Guests Are Back: How The Restaurant Industry Has Changed Forever – And For Good

The guests are back: 77% of U.S. consumers in Lightspeed’s poll are dining out at least once a month or more, with 40% dining out more than two to four times a week, and 30% saying they are dining out more than they were before COVID, taking advantage of what they’ve missed.

Guests are back: How the restaurant industry has changed forever – and for good

(BPT) – In this new era of hospitality, technology is driving customer retention, automation and efficient food costing, which have all become key to profitability. The pandemic forced restaurants to adapt to not only a new, leaner business model but new consumer behavior as well. With customers opting for alternatives to dine-in, restaurants adapted to build solutions to offer takeout, delivery and curbside pickup options. Meanwhile, restaurants are struggling with staffing challenges, government mandates and dynamic reopening in different regions.

In a recent Lightspeed and OnePoll survey of Global hospitality merchants, 90% feel that technology has helped their business survive the last two years, and 92% feel their business is more efficient today than it was one year ago. Peter Dougherty, GM, Lightspeed Hospitality, offers three ways tech is reshaping the hospitality industry:

1) Once seen as a job killer, automation will save an understaffed industry.

In a recent JobList survey of 13,000 hospitality employees, nearly half said they had left their job for good, and a third said they were done with the industry. This aligns with Lightspeed’s U.S. research which shows 55% of operators struggling to retain staff.

Amid this shortage, restaurant operators and customers are seeing the value in automation technology. This means saving time by automating functions like taking orders or processing inventory with a solution like Lightspeed Restaurant. Lightspeed found that 67% of hospitality merchants in the U.S. see more automation as the best way to combat employee turnover, 50% plan to utilize some form of automation technology within the next two to three years, and another 50% also see a future with more flexibility for hospitality employees.

2) Guests’ behavior drives technology, but also staff shortages.

The guests are back: 77% of U.S. consumers in Lightspeed’s poll are dining out at least once a month or more, with 40% dining out more than two to four times a week, and 30% saying they are dining out more than they were before COVID, taking advantage of what they’ve missed.

QR codes, once seen as outdated tech, were one of the big winners of distanced dining. And with restaurants and bars more short-staffed than ever, guests are suddenly more comfortable ordering through a QR code while a smaller floor staff maintain a level of guest service. When it comes to U.S. consumers dining out, ordering through a QR code (21%) or contactless payments (31%) made them feel “safer.”

But this rabid return has had its consequences: 62% of hospitality professionals in the U.S. report that guests have been more demanding, and 40% said they were tipping worse. 48% of U.S. merchants say “more patience and empathy” from guests would help them retain staff.

3) Technology helps merchants diversify their business.

The pandemic forced a tremendous amount of change in the hospitality industry, with 90% of U.S. merchants surveyed noting they feel that technology has helped their business survive the last two years.

When asked what technology had the biggest positive impact on their business, nearly half of merchants (47%) noted online ordering; a habit once relegated to urban millennials that became a necessity during COVID-19. Lightspeed’s survey found that 37% of U.S. merchants have brought their online ordering technology in-house to avoid third-party fees, and 60% say guests are still ordering more takeout than before COVID.

Looking ahead to the future, 78% of the merchants surveyed see online ordering technology vastly improving in the next two to three years, which will likely be a time of consolidation and automation for the industry, as stand-alone players will struggle to compete with larger integrated solutions.

Five Skills for Successfully Turning Ideas Into Reality

5 skills for successfully turning ideas into reality

(BPT) – People across the world have tackled immense challenges since the start of the global COVID-19 pandemic, from social isolation to financial burdens, in a distanced and digitally enabled world. As a result, many important projects were put on hold. But at the same time, many people took the opportunity to make bigger and better plans — and are ready to make these dreams a reality.

In a recent global survey conducted by Project Management Institute (PMI), nearly four in five consumers (79%) said they consider 2021 to be a “do-over,” and an even greater number, 86%, plan to work harder this year to bring their ideas to life.

“The pandemic disrupted countless 2020 plans, but many leaders and innovative thinkers used the time wisely to map out their next moves,” says Mike DePrisco, chief operating officer for PMI. “As more communities and organizations across the globe cautiously turn to recovery and revival, teams are increasingly focused on turning their stalled projects into reality.”

But turning ideas into reality doesn’t come easy. Whether you’re looking to level up in your career, kick-start a new project or create a completely new business, PMI outlines the power skills you need to continue advancing:

1. Communication

Effective communication maximizes success and minimizes risk. It involves not only conducting outward-bound communication, but also listening, taking feedback, understanding nonverbal cues, and interpreting what is meant versus what is said. In a team setting, communication helps team members stay on the same page as they work toward success.

2. Empathy

Empathy allows team members to build greater trust and connections — with each other and with other stakeholders — by helping them understand the wide range of people and work styles they encounter. Empathy also strengthens teams by helping team members feel appreciated and heard.

3. Collaborative leadership

A collaborative leadership style is more effective in inspiring and bringing team members together in pursuit of a shared vision and common goals. Collaborative leaders recognize that each member of the team has something to contribute — in executing a plan and in helping shape objectives.

4. Innovative mindset

An innovative mindset ensures teams are applying new ideas and fresh perspectives to how they organize work and address the myriad obstacles that emerge when turning ideas into reality. An innovative mindset also allows teams to remain agile and pivot more quickly in the face of challenges.

5. Purpose-driven goals

Having a for-purpose orientation helps minimize risks and ensures the organization’s values and commitment to social good are infused in all aspects of project design and implementation. Clear goals also empower changemakers to use their skills to bring about positive social change within teams, companies and communities.

To learn more about these skills and effective project management, visit PMI.org/MakeReality, a virtual hub of inspiration with the tools you need to get started on your next big, bold idea. Find support and inspiration from changemakers across the globe turning their ideas into reality; determine your changemaker persona; and view PMI courses that help you take your project or idea and Make Reality, such as KICKOFF, a free, 45-minute digital course and toolkit that guides learners through the basics of project management with bite-sized content and downloadable templates they can quickly implement on the job.


=============================
Learn more about turning your idea into a nationwide franchise click here: www.franchisegrtowthsolutions.com

Magic Cup Travels West: New Location in Southlake Arriving Soon!

While researching food and beverage franchises, Vinay notes he became aware of a massive potential within the boba tea franchise segment. Inspired by Magic Cup’s refreshing selection of multicultural fare…

Magic Cup Travels West: New Location in Southlake Arriving Soon!
By: SHAHRIAR KABIR – with permission from the Magic Cup Blog site

Coffee and boba tea aficionados in the greater Dallas area can look forward to a brand-new cafe in the near future. This month, our Vietnamese American-owned Magic Cup Cafe franchise announces its westward expansion to Southlake, TX, which is expected to provide trendy tea drinkers throughout the Dallas suburb with their very own novelty boba hotspot.

Our innovative beverage franchise––fresh off a recent opening in McKinney -––is proud to name nationwide entrepreneur Vinay Calyampoondi as the owner and operator of the new Southlake location. “We’re excited and honored to welcome Vinay to the Magic Cup family,” our COO, My Lynn Nguyen, says, adding: “Vinay has a proven record in business success, and, with his unique outlook and personal passion for the Magic Cup brand, we know he’ll be an excellent collaborative partner going forward. Our team can’t wait to grow with him.”

Vinay shares in My Lynn’s excitement, revealing he’s delighted to launch a Magic Cup location in the bustling community of Southlake. Originally trained in technology (he has a master’s degree in computer science), Vinay describes himself as a foodie at heart. Outside of an extensive real estate portfolio in New Jersey and a thriving MY SALON Suite franchise in Philadelphia, Vinay’s love of food recently led him to open a Cold Stone Creamery franchise in Southlake in October 2020 (with plans for one in Colleyville this fall).

While researching food and beverage franchises, Vinay notes he became aware of a massive potential within the boba tea franchise segment. Inspired by Magic Cup’s refreshing selection of multicultural fare and its inclusive atmosphere, Vinay decided a Magic Cup franchise would be the perfect way to continue his journey in the F&B industry. “I was looking for something with a ‘place to hang out’ vibe as well as something that would provide an ‘Aha!’ moment for customers of all ages,” Vinay says. “When I discovered Magic Cup, it all clicked. The cafe had everything I envisioned––from its menu to its décor––and I wanted to share that feeling of joyful discovery with my customers.”

Magic Cup invites Southlake boba fans to stay tuned for news of the upcoming grand opening. Readers interested in launching their own bubble tea business can contact us via magiccupcafefranchise.com to learn more about becoming a Magic Cup franchisee.
==================
Franchise Your Business today: www.franchisegrowthsolutions.com

Franchisor Focus – 10 Ways an Earnings Claim Can Help Grow a Franchise System

It can assist a franchisee to more easily obtain financing, especially if it’s for a new or emerging franchise brand. Franchisors often offer a “negative disclosure” in this section, which means that no financial projections or representations regarding future or past financial performance are provided.

Franchisor Focus: 10 Ways an Earnings Claim Can Help Grow a Franchise System

FRANCHISING,
Ed Teixeira is Chief Operating Officer of Franchise Grade and was the founder and President of FranchiseKnowHow, L.L.C. a franchise consulting firm.

By Ed Teixeira – VP Franchise Grade, Author, MA Economics, Industry Partner Stony Brook U. and member of Advisory Board Pace U. Lubin School of Business.

Those of us who have spent years working in franchising may recall when a small number of franchisors made an Item 19 financial disclosure. It’s been reported that 20 years ago less than 20% of franchisors made a financial performance representation (FPR) or earnings claims in their FDD.[i] Over the course of the past number of years that number has increased considerably and a recent review of over 2,500 Franchise Disclosure Documents by Franchise Grade found that 65% of franchisors provided an FPR in their Item 19. The FPRs vary from average franchisee revenues to a more detailed disclosure of average franchisee profits.

This change in Item 19 disclosure represents one of the most important alterations regarding the information a prospective franchisee receives in the FDD. Whether a franchisor is a startup or established, they should provide an FPR. In fact, a new franchisor with one company operation can make an FPR (subject to FTC and state disclosure regulations) and this information should be provided to prospective franchisees.

Some franchisors fail to do an FPR either because they lack attractive information to present, don’t want to invest the time in establishing the allowable process for obtaining and disclosing the information. Or they may fear a franchisee lawsuit which can be avoided by using competent and qualified franchise legal counsel.

An FPR isn’t just another FDD disclosure. More importantly, it can help franchisors to recruit, qualify and close more franchise transactions.

Here are 10 Reasons How an FPR will help:

The FPR can be used in franchisee recruitment materials and advertising to highlight notable franchisee financial results.

The availability of an FPR can separate a franchisor offering from a competitor who fails to provide one.

It allows for a more open discussion with a franchise candidate pertaining to how they expect to achieve the positive financial results in the FPR. This could be a useful tool for qualifying franchisee candidates.

A candidate can use the FPR as a basis to develop a more accurate and useful business plan and financial projections.

It can enable a prospective franchisee to analyze and construct their key performance indicators (KPIs) and to establish the probability of achieving their financial goals.

An FPR can establish franchisor transparency which strengthens the franchisor’s credibility.

It helps provide the most important information prospective franchisees are always interested in obtaining–namely “How much can I make?”

It can assist a franchisee to more easily obtain financing, especially if it’s for a new or emerging franchise brand.

Franchisors often offer a “negative disclosure” in this section, which means that no financial projections or representations regarding future or past financial performance are provided. This in turn often means that franchisees must consider earnings potential based on other factors.

When a franchisee is interested in selling their franchise an FPR can help support those franchisees financials and the overall franchise system performance.

=============================================
[i] International Franchise Association 50th Annual Legal Symposium May 7-9, 2017 JW Marriott Washington, D.C

About the Author: Ed Teixeira
Ed Teixeira is a recognized franchise expert
with over 35 years experience in the franchise industry. He has served as a corporate executive for franchise firms in the retail, manufacturing, healthcare and technology industries and was a franchisee of a multi-million dollar home healthcare franchise. Ed is the author of Franchising From the Inside Out and The Franchise Buyers Manual. He has participated in the CEO Magazine Roundtable Meetings with business leaders from around the country and spoke at a number of venues including the International Franchise Expo and the Chinese Franchise Association in Shanghai, China. Over the course of his career, Ed has been involved with over 1,000 franchise locations and launched franchise concepts from existing business models. Ed can be contacted at 631-246-5782 or [email protected]
===============================================
FRANCHISE YOUR BUSINESS: www.franchisegrowthsolutions.com

franchise, royalties, profits, expansion
Click Here To Learn About Franchising Your Business