Tag: restaurant

What To Consider When Purchasing A Franchise

Posted on by Franchise Strategist

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 current franchise disclosure document (check the issuance date) 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.

* * MasterMind Minutes * *

Posted on by Franchise Strategist

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

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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

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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

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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]

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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]
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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

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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.
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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

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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

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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

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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/

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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….

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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

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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

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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.

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

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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

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

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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

Tips For Employers & Employees – Effective Job Interviews

Posted on by Franchise Strategist

Photo by Clem Onojeghuo on Unsplash

Suppose you have not decided what to offer someone or are still negotiating with the candidate. In that case, it’s best to provide a range rather than an exact number. This gives candidates an idea of what they could make if hired and shows that you are flexible and willing to negotiate.

Tips For Employers & Employees – Effective Job Interviews
By Johnny Day

Introduction
As a business, you want to hire the best employees you can. You want people with the right skills who can help the company reach its goals and grow. But only some people will be a good fit for your organization. In fact, according to one study, about 25% of new hires fail within their first 18 months on the job. At that rate, hiring five employees who fail in their first 18 months at work with your company is like hiring only three people who succeed in that time!
Offer salary range, not a specific number.

Offer a salary range, not a specific number.
Suppose you have not decided what to offer someone or are still negotiating with the candidate. In that case, it’s best to provide a range rather than an exact number. This gives candidates an idea of what they could make if hired and shows that you are flexible and willing to negotiate.

Have a plan for the interview before you go in.
Before you go into an interview, you should plan what you want to ask and what kinds of questions the employer will ask you. You should also have your resume and a copy of the job description. Bring a list of references who are willing to be contacted.

When it comes time for your interview, follow these tips:

* Know what you want to ask. The employer may only tell you about some aspects of the job. Instead, they’ll give out one piece at a time during different parts of the interview process to see if candidates are interested in both the work itself and all other aspects related to working there (e.g., pay).

* Have your questions ready so that if something comes up during or after their presentation or tour—like whether there’s room for advancement—then feel free to ask these things without feeling like an outsider who doesn’t belong!
Explain the company culture to candidates.

* Recruiters, managers, and executives should explain the company culture to candidates. Because culture is a set of values, it’s essential to define them early in the process. The goal is to give candidates an understanding of how your organization approaches its work and what being part of that organization means. It may be helpful for recruiters and hiring managers to refer back to this definition when conducting interviews with prospective employees because it can provide a common understanding among team members if they all use the same language when describing their roles within the organization.

Make sure they know what their duties will be.
Clearly outlining the duties of a job is a must. As a manager, it’s your responsibility to ensure that employees know their position and how a manager will evaluate them. If you’re hiring someone who has been doing this type of work for years, you’ll want to take them through orientation so that they know what you expect. If someone just graduated from school with little or no experience in your field, then I recommend taking some time out of their first week on the job to explain things like:
What is expected of them in terms of output and output quality? (This is usually tracked in metrics.)
How do we measure performance? (These measurements may include customer satisfaction surveys.)

Don’t be afraid to ask them to elaborate on their experience and qualifications.
Asking candidates to elaborate on their experience and qualifications is part of the interview process. Still, it’s also an excellent opportunity to learn more about someone’s personality and character. For example, if a candidate has said they have experience in social media marketing, then ask them to describe the last project they worked on from start to finish. On the other hand, if their resume lists specific projects, ask them what kind of work they’ve done in that area before.
If someone has little professional experience (e.g., a high school student looking for a summer internship), then ask them how they’ve approached learning new skills or subjects outside of school-related activities. For example: “Tell me about a time when you had to teach someone else something.”

Give them time to think about it.
Before hiring, ensure the candidate has time to consider it. Suppose they’re ready to sign on right away. In that case, it might mean that they’ve already taken a job elsewhere and are just trying to be polite by pretending otherwise. It’s also crucial that you give them plenty of time so they can ask questions. They probably have some concerns or reservations about joining your company—perhaps even some reservations about working with you—and those issues need to be addressed before anything goes any further. Finally, once someone is hired, their start date must be pretty close to the future. You want them to feel secure and comfortable enough with their decision that they don’t leave for another position before their first day at work; this would lead directly to lousy employee retention rates later down the line!

Tell them about the benefits package.
Benefits are a big part of the job. Make sure you have a good benefits package and your employees know about it. That way, they’ll feel valued by the company and be more likely to stay with you for extended periods.
What kind of benefits do you offer? Do you offer a 401K? Paid time off? Health insurance? These things all play into how willing someone will be to commit their life to your company—so make sure you’re offering them everything they need!

Ask if they have any questions for you.
If you haven’t already, ask your new employee if they have any questions.
Asking what’s on their mind will ensure you can address any concerns they may have about the position.
This is also an excellent time to make sure they are comfortable with the role and explain more about what it entails so that you can determine if this is a good fit for them.

Use these tips to conduct a more effective job interview that will help your company find and retain the best employees it can find When interviewing candidates, it’s important to be prepared with a plan. An effective interview will help your company find and retain its best employees. It’s also important to explain the company culture to candidates during this preparation process. You should also make sure they know their duties for an effective job interview that will help your company find and retain the best employees it can find.

Conclusion
This is a recap of the tips we’ve given above. If you need to decide which ones to use, mix and match them as needed.

TIPS TO MARKET YOUR RESTAURANT DURING THE HOLIDAY SEASON

Posted on by Franchise Strategist

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!

FUNDAMENTAL RESTAURANT MARKETING

Posted on by Franchise Strategist

Photo by Eaters Collective on Unsplash

You want to create a loyal customer base because these people will tell all their friends about your restaurant and bring them in to eat. Customers are often the best marketers for a business because they love what you do so much that they want to share it with others.

Fundamental Restaurant Marketing
By Gary Occhiogrosso – Managing Partner,Franchise Growth Solutions.

Introduction
Restaurant marketing is a topic often in business classes and career fairs. It’s a common question: “How do you market your restaurant?” The answer to this question can be pretty straightforward, but the process can be challenging. To make sure that your restaurant can attract new customers and keep them coming back, it’s essential that you have an effective plan for promoting your business.

The most successful restaurants are the best marketers.
To be one of those restaurants, you must learn about marketing. Marketing is not a one-time thing. It’s an ongoing process that must be done on a regular and scheduled basis if you want your business to succeed.
The first step in effective marketing is understanding what it’s not: it’s not advertising alone; instead, it’s everything you do to connect with your customers and get them talking about their experiences with your brand. For example, marketing could include social media posts on Facebook or Twitter (that are funny/cute/interesting enough), sharing photos of how great everything looks on Instagram (including food shots), posting videos explaining how something works on YouTube (like how a new dish gets made), offering special promotions such as “buy one entrée at regular price and get another free.
Social media is great for getting the word out about your restaurant. You can use social media to promote your restaurant and get customers to come in, or you can also use social media to get feedback from your customers.

Make sure that every employee is a marketer for your restaurant.
They may not be able to explain the nuance of the menu, but they can tell people about themselves and their experience at your establishment.If you have a host or waitperson, they can talk about how they enjoy working there because it’s such a nice place. If someone asks them if there are any vegan options on the menu or if one of your dishes can be made gluten-free, they can tell them about it without sounding like an advertisement (although most people in this situation probably won’t care).

Make your restaurant an active community member.
As you create your restaurant, it’s important to consider how you want to be perceived in the community. Do you want to be the new hot spot for a specific type of person? Or are you aiming for a more diverse crowd? Will your restaurant have an identity as a family-friendly place or something more upscale and exclusive? The answer will help determine some of the best marketing strategies for you. For example, if you’re looking to attract families with young kids, consider sponsoring local youth sports teams or offering free food at community events like Little League games and PTA meetings. On the other hand, if your target clientele is more on the younger end (say college students), sponsoring an art gallery opening might be right up your alley!
Regardless of who makes up your ideal demographic, make sure they know where they can find good food in town—and make sure those other businesses know about yours too!

Engage with your customers through social media and online reviews.
Social media can be a great way to engage with your customers and hear what they say. In addition, you can use social media as a platform for interacting with other businesses in the community.
Here are some tips for responding to what your customers are saying online:
* Respond quickly if someone has posted an unfavorable review of your restaurant on Facebook or Yelp. Be sure to thank them for their feedback and explain how you will use it to improve the experience in future visits.
* Respond quickly if someone has posted a positive review about their visit to your restaurant – especially if there’s an opportunity for follow-up questions or inquiries about the experience (i.e., “What was your favorite dish?”). Use this opportunity to connect with customers who’ve enjoyed their visit!
*Listen to your customers’ feedback online and in person.
* Respond to customers’ comments.
* Be transparent with your customers.
* Be honest, even if it’s difficult for you or the company, because honesty is the best policy for maintaining a good reputation as a business that cares about its community and its employees.

You may not always agree with every comment made by every customer. Still, it’s vital that you engage in conversations where both parties are listening respectfully instead of arguing back and forth about what is right or wrong.

Creating a loyal customer base is a great way to grow your business.
You want to create a loyal customer base because these people will tell all their friends about your restaurant and bring them in to eat. Customers are often the best marketers for a business because they love what you do so much that they want to share it with others. The more loyal customers you have, the more people will want to come to your restaurant and spend money on food and drinks there—and that’s good news for your bottom line! If you keep giving them what they want (like delicious food at affordable prices), those same loyal customers will keep coming back again and again—and bringing friends along with them.
The key here is ensuring those loyal customers feel appreciated by rewarding them with something special now and then—like free meals or exclusive coupons only available through their email address or phone number.

Conclusion
As you can see, restaurant marketing is more than just putting up a few ads and hoping for the best. It would be best if you were willing to invest in your business, ask for customer feedback, and engage with them online. The most successful restaurants are the ones that put their heart and soul into their marketing efforts.

MANAGING PART-TIME EMPLOYEE SCHEDULES

Posted on by Franchise Strategist

Photo by Jessica Lewis on Unsplash

There are several reasons why shift scheduling is a critical part of managing your workforce. For one thing, if you have part-time employees who aren’t able to work every day that you need them, it’s vital that you have some system for organizing their schedules. In addition, consistency will help make things easier for everyone involved.

Managing Part-Time Employee Schedules
By Dom Hemingway

If you’re managing a part-time employee schedule, you know how important it is to be organized and prepared. Managing a part-time employee’s schedule can be tricky because you must keep your team member’s other priorities in mind and ensure that their work hours fit into those priorities accordingly. These priorities may include school, taking care of children or an elderly parent, and another part-time job. It’s essential that your employees can balance multiple aspects of their lives while still working for your company successfully!
Here are a few tips to consider:

Know Your Labor Needs In Advance
First, consider the business’s needs and how many employees you will need to cover the shifts. Next, consider how many shifts you need to cover each week and month (not just in specific time slots). Finally, be sure that all your available times are covered.

An excellent place to start is by creating standard templates for when employees will be working each week (e.g., every Monday afternoon). In addition, these templates should include what shifts are available and any special days off that might change weekly (such as holidays). Once set up, these templates let employees know their schedule via phone or other digital notification so they can plan accordingly!

Use A Scheduling Tool
A scheduling tool can help you organize your employees’ schedules, set up shift swaps, and more. There are numerous scheduling tools used by companies like Google, Red Bull, Spotify, and LinkedIn. Using A Scheduling Tool Is Simple. First, set up templates for days off and specific shifts (like the weekend). Next,use those templates as needed by dragging them onto the calendar view. Templates allow you to see your schedule at a glance so that you don’t have any surprises when it comes time for each person’s next shift. Include Shift Swaps. Shift swaps allow employees to trade shifts with each other. Swapping a shift is a great way to balance work and personal life, prevent burnout, and get the days off you want. If you have an employee self-scheduling system, it will also help avoid turnover by allowing employees to pick their schedules.

Managing Days Off
The first step in creating an employee schedule is to set up templates for each day off. You can do this by setting up a template that applies a specific day off for each employee. If you have more than one part-timer working simultaneously, ensure their days out are consistent, so they don’t conflict. Also, when setting up their days off, consider their work schedule and personal life—not only will this make things easier for them overall, but it’ll also ensure that they can attend family events or plan fun activities outside of work! Finally, if an employee is sick or needs time off during the week, consider how long they’ve been working before approving any requests. This flexibility will help ensure they get enough time away from work while still staying productive at home without having too much downtime.

Let Employees Select Their Shifts
It may be a good idea to allow employees to select their shifts. Self scheduling gives them the freedom to choose when they want to or can work, which can help them be more productive at work and happier overall. Many part-time employees also have multiple jobs and might need a schedule that works with another. For example, let’s say you have an employee who is also a freelance writer; he might need his schedule to include Friday off, so he has time to write articles for other publications. Allowing him to switch shifts with other employees in your organization makes it possible for him (and others) who may need this flexibility to have multiple jobs simultaneously! To ensure your part-time employees are scheduling themselves most efficiently, it’s important to know your needs before you begin.

Employee self-scheduling is a great way to reduce employee turnover and keep employees accountable for their schedules.
Employees pick their shifts based on availability and job needs with self-scheduling. This method also allows you to see how many hours each employee works, which can help you track attendance and make sure they’re adhering to policies regarding overtime or sick days.

Create Weekly Schedules At Least A Week In Advance
The weekly schedule prepared in advance is the best way to track employee hours and manage payroll. It also helps you plan by clearly showing the shifts to be covered according to sales and other projects.
Employees can quickly see how much time off they have next week, making planning life events easier (and more likely).
Managers can see what projects are due around the same time or when an employee will be out sick or on vacation. They can also use this information to choose who should help cover each other’s shifts if someone suddenly needs time off unexpectedly.

A Consistent Scheduling Process Is Critical
There are several reasons why shift scheduling is a critical part of managing your workforce. For one thing, if you have part-time employees who aren’t able to work every day that you need them, it’s vital that you have some system for organizing their schedules. In addition,consistency will help make things easier for everyone involved. For example, employees can plan their personal life around this schedule. In addition, employers can ensure that they always have enough employees working during each shift.You will also be in a better position to manage labor costs by scheduling team members in advance and according to projected sales for the week.

Additionally, if your company has full-time employees with varying schedules—such as those on-call or night shifts—it’s important to keep track of how many people you schedule during any given time. For example, suppose one employee misses two days in a row due to illness. In that case, it might be necessary for another coworker with flexible hours to cover those shifts instead, so nothing falls through the cracks!

Conclusion
Finally, an organized schedule will make things easier for everyone involved in ensuring there aren’t any scheduling conflicts within teams or departments because everything has been planned out ahead of time rather than being handled on an ad hoc basis.”

When managing part-time employees, it’s essential to consider their needs in advance. After all, they’ll be working with you regularly. Hence, you want them to feel comfortable and empowered in their work environment.

CONTROLLING LABOR COSTS IN A RESTAURANT

Posted on by Franchise Strategist

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.

Love at First Bite: Oath Pizza Signs New Multi-Unit Franchisees to Fuel Growth in Austin

Posted on by Franchise Strategist

Oath’s simple operation drives attractive labor and supply chain advantages for traditional corporate and franchise locations. Oath’s nationwide supply chain distribution network creates reliability, the brand’s adaptive menu offers customers a quick, consistent product, and the business with attractive unit economics, including longer shelf life, reduced costs, and better throughput.

Love at First Bite: Oath Pizza Signs New Multi-Unit Franchisees to Fuel Growth in Austin

By Luca Piacentini – 1851 Franchise Senior Writer
Reposted with permission

Oath Pizza has become one of the most popular brands and sought-after franchise models in less than a decade. Since opening its first seaside shop on Nantucket Island, Oath has expanded to serve its fresh, feel-good pizzas to communities across the country. This year, momentum has picked up steam with Oath Pizza signing on multiple new multi-unit franchise owners to expand to new markets like Austin, Seattle, and Los Angeles.

Dilan Karunamuni and Sham Tyagi are the new franchise partners behind the three-unit signing in Austin. The two friends come from a background in the finance and tech industries, where they first met as consultants.

“I used to work in retail at Verizon and AT&T, so I had experience working with customers,” says Tyagi. “I eventually ventured into the cell phone business and started my own company. I sold that business to one of my competitors and founded my consulting firm specializing in subscription-based systems for software companies.”

Karunamuni eventually took a job at that firm, where his long-lasting friendship with Tyagi began. While the two never considered going into business together, that changed the day they each took their first bite of Oath Pizza.

“I was visiting Philly and stopped at the Apple store,” says Tyagi. “I was hungry, so I walked next door to Oath Pizza. I knew it was a brilliant experience when I had the first bite, and I called Dilan and told him he had to try it.”

Karunamuni stopped by Oath the next time he visited the area. “We were so blown away by the food, brand, store, [and] the look,” he says. “It was so good, and I even brought some home for my family to try.”

Soon, the duo recognized the unique opportunity ahead of Oath and decided to introduce the pizza to the growing Austin market.

“We knew this would work in Austin,” says Tyagi. “There are plenty of food options, but it is an ever-expanding market, and the palette of people moving from all over is always changing,” he adds. “People here want to explore new food options, and Oath Pizza is an option that is better for you with fresh toppings, organic proteins, and limitless customization options,” he shares.

As an experienced entrepreneur and business owner, Tyagi says he could also tell Oath Pizza’s business model was positioned for success thanks to the backing of its expert team and robust support infrastructure.

“Our process started by reaching out to the Oath team,” says Tyagi. “As we learned more, we saw the leadership team was very experienced, and how every franchise and corporate team member was knowledgeable and went above and beyond,” he adds. “We instantly felt comfortable with the company and wanted to be a part of the team that would take this brand to the next level.”

Karunamuni and Tyagi visited a store to explore how each location functioned inside and out. “I had never owned a food business, which I knew could be tricky, so I was doubtful about the simplicity at first,” says Tyagi. “We saw how it operated, and it was an instant no-brainer for us. Everything is seamless, with streamlined processes, a simplified menu, and a super smart and efficient model.”

Oath’s simple operation drives attractive labor and supply chain advantages for traditional corporate and franchise locations. Oath’s nationwide supply chain distribution network creates reliability, the brand’s adaptive menu offers customers a quick, consistent product, and the business with attractive unit economics, including longer shelf life, reduced costs, and better throughput.

“Efficiency is the key word,” says Karunamuni. “I have a little experience having worked at Quiznos and Dunkin Donuts, and I’ve seen how a messy back of the house can lead to problems in the front end,” he says. “When I saw the Oath Pizza model, I was in awe — everything is thought out precisely, from ordering the products to serving the customer. There are so many advantages to joining a brand so primed on efficiency.”

Karunamuni and Tyagi hope to open their first Oath Pizza in early 2023 and the rest of their stores by the end of 2024.

“It’s the best chain pizza I’ve ever had, and it can compete with mom-and-pops everywhere,” says Tyagi. “We are excited to have people in Austin taste this product. That’s what it is all about — it’s that good.”

Karunamuni and Tyagi aren’t the only entrepreneurs recognizing the strength of Oath’s franchise model this year. Brad and Jennifer Langford, a married couple of restaurateurs and franchise industry veterans outside Seattle, signed a three-unit deal to grow Oath Pizza throughout their market.

“Being an operations-focused owner, when I read about Oath Pizza’s business model, I realized they had found a way to streamline their operations and customer service to make the numbers work,” Brad Langford shares. “You can have the best product in the world, but if you can’t take the development of a product and streamline it through prep, product, and marketing to your customer, it doesn’t matter how great it tastes,” he adds. “I was shocked at how great this product tastes, and more importantly, the bottom line adds up.”

Another recent signing comes from former Target executive Mandeep Singh and his brothers-in-law, Garish Talwar and Kulwant Jafal. They are introducing Oath Pizza to Greater Los Angeles through a three-unit deal as franchise group Brothers Empire.

“We came across an article about Oath and liked what we read, so we dug deeper and decided to reach out to their team,” says Singh. “I was immediately impressed. They are great people and walked us through every question we had. They are passionate about what they do.”

Oath Pizza’s CEO Drew Kellogg says the team is excited to find more franchisees across the country as the brand continues to emerge as a leading force in the pizza segment.

“We’re excited about our continued expansion into growing markets like Austin,” Kellogg says. “We’re looking forward to bringing on more smart, passionate entrepreneurs like Dilan and Sham to help us expand to new markets and inspire happiness in our communities every day.”

The cost to open an Oath Pizza franchise ranges from $380,000–$550,000, including a $30,000 franchise fee. For more information on franchising with Oath Pizza, visit https://www.oathpizza.com/franchise.

About Oath Pizza: Oath Pizza is the fast-growing franchise known for its award-winning avocado oil crust, fresh, organic toppings, and efficient, innovative business model. Oath started in a seaside shop on Nantucket Island. Today, it has expanded nationwide under the leadership of former Chipotle executives who have built the brand and business to scale. The Oath franchise opportunity has quickly risen to a top business consideration for its unique advantages: low cost of entry, small 800 – 1,200 sq ft footprint, flexible build-out with no Type I venting or gas requirement, reliable supply chain, innovative digital systems, and a simple operation that requires only one-to-four employees per shift. Learn more at oathpizza.com/franchise.

11 Qualities That Contribute to the Success of a Franchisee

Posted on by Franchise Strategist

Photo by Gerd Altmann: https://www.pexels.com/photo/success-text-21696/

Franchises are the number one way new entrepreneurs start a business. A franchisee can take advantage of a proven system, brand recognition, and access to capital. But, in return, they must spend time learning about their industry, develop relationships with suppliers and customers, as well as adhere to strict standards set by the franchisor.

What Qualities Contribute to the Success of a Franchisee
By Gary Occhiogrosso – Managing Partner, FranGrow

I get asked this question often. Of course, many factors go into the formula. Yes, it’s true: not every franchise owner is cut from the same cloth. It seems that we have an entrepreneur for every niche and industry. That’s why franchising has no one-size-fits-all approach; what works for one person might not work for another!

What brings success to one franchisee may not necessarily be what brings success to someone else. But, of course, there are some common traits among successful franchisees. Successful franchisees come in all shapes and sizes, but having the right qualities will help them succeed. Successful franchisees are not afraid of failure. They understand that it is an inevitable part of the journey and know how to deal with it. They also realize that there are no shortcuts to success; if you want something, you have to work hard for it every day. These Qualities and Skills include:

Experience
A clear advantage of being a franchisee is the knowledge and experience you can gain from your franchisor. While it’s not always possible to have previous business experience, there are ways to be sure that you are prepared for this new venture.
For example, many people find that an apprenticeship helps them learn about their chosen industry. If you don’t have professional experience similar to what the franchise offers, taking a class at a local college or university may be just what you need before diving into your new venture. An apprenticeship program allows students to learn on the job while receiving regular feedback from their employers or instructors while earning money. The best part? Apprenticeships can often lead to full-time work after graduation! Considering becoming a franchisee, believe many things before signing on the dotted line. For example, you should be sure that the franchisor is experienced and has a good reputation in the industry. You should also ensure that they offer training classes for new franchisees and ongoing support for your business once it’s up and running.

A Relentless Work Ethic
In the world of franchising, work ethic is a combination of hard work and passion for your business. You need to be able to put in long hours to get things done, handle stress and conflict within your staff, and know when you need help with something. In addition, a relentless work ethic means being smart enough to know when you don’t have all the answers.
The best franchisees are constantly learning, not just about their business but also about the industry and how it works. As a result, they don’t rely on others to do their jobs; they take responsibility for their success or failure.

Motivation
Motivation comes in many forms, but motivation is not a fixed attribute of a person. Instead, it is an emotion that comes when you’re starting to do something and keeps you going as you finish the task.
Motivation can come from within or without. Some people are naturally motivated to achieve goals. In contrast, others need external incentives (such as money) to complete something. While some people have both types of motivation, others may only be motivated by extrinsic or internal factors. The trick is figuring out how each person uses their unique style of inspiration so that they will succeed with your franchise business model and continue achieving. The goal for every franchisor is to find ways for their franchisees to stay motivated after opening up shop. This way, franchisees remain fired about what they’re doing, as do all their employees! The best way to keep your franchisees motivated after opening is by letting them know that you’re still there for them. Being available for your franchisees doesn’t mean calling them every day; it means making sure that when they need help with something, you’re able to provide it. Depending on your franchise’s business model, this could be anything from giving marketing tips or advice on how to run a successful business.

They are Innovative
An innovative franchisee will be able to think of ways to make their business stand out from the competition. They may also develop ways to improve efficiency or help attract more customers. An idea can be as simple as a new advertising campaign, or it could be something like a product that is better than what’s currently offered in your industry.
To get innovative ideas, you must begin by following the basic steps of brainstorming: define an issue and gather information on it, generate ideas on how to solve it, evaluate those ideas against one another and others’ opinions, then choose which ones are best suited for implementation. Once you’ve decided on an approach (or several), you’ll need input from trusted advisors before implementing them into your business plan so that they’re practical and professionally sound. When you’re ready to move forward with your idea, it’s crucial to have a plan for what steps you’ll need to take next. A plan will ensure that you don’t waste time or money on something that won’t work or that isn’t feasible within your budget.

They are Tireless
Tireless is a word that describes someone who works hard but doesn’t get tired. Being tireless is essential in any business because you will most likely fail if you don’t work hard enough and stay on top of things. Here are some examples of what it means to be tireless: Don’t stop working until the job is done. If an area of your business could use improvement, take the time to improve it even if it takes longer than expected or seems like more work than intended at first glance. The only way for your franchise to succeed is for every part to run smoothly and efficiently, so never let up on improving yourself as an owner—even if you already feel like everything is perfect!

They Always Follow The System Set Up by the Franchisor.
Following the franchise system ensures that all franchisees follow a standardized set of rules which prevents one location from being treated differently than another just because they don’t quite know how things work yet (and this makes them less likely to succeed). It also ensures consistency across all sites, so no matter where customers go, they’ll receive similar experiences every time – which helps build trust between them and their favorite brands. Don’t take shortcuts or do things the company doesn’t want you to do. The system should be designed to ensure success and prevent mistakes. If there’s a way to do something more efficiently or effectively than what’s laid out in your franchise’s system, then make sure you’re not doing it. When you’re a franchisee, you are part of the system. You must follow the rules and regulations set forth by your parent company. If you’re not willing to do that, then it’s probably not a good idea for someone like you to become a franchisee in the first place. Franchisees must be able to work with others; they cannot function as lone wolves who have no regard for other people or their feelings. Instead, a successful franchisee can take direction from those above them and guide those below them in the hierarchy of any given company. A successful franchisee is someone who can work well with others. They are not lone wolves, and they have no disregard for other people or their feelings. Instead, a successful franchisee can take direction from those above them and guide those below them in the hierarchy of any given company.

Successful Franchisees Know When and How To Ask For Help.
A good franchisee is always looking for ways to improve their business. Sometimes, this means asking for help from other franchisees or the franchisor. By recognizing that there are people out there who have more experience than you do, you’ll be able to grow your business faster and become a better leader in the process.
Working with your peers: Franchisees often feel alone in their respective territories when starting on their own without the support of corporate office staff. Having other franchisees nearby gives them a sense of community, making starting up easier. It also allows them to play off each others’ strengths—for example, one may specialize in sales while another excels at marketing—so they can complement each other’s skillsets much like employees would in an office setting.
. The franchisor will likely have a community of franchisees where you may draw information. However, it’s still up to you and other franchisees to get together and make connections.

They Engage With Their Community.
Being able to help out and be part of your community doesn’t just make you look good; it also helps build trust and goodwill with your customers and strengthen your position in the market over time. It’s not just about being charitable – although charity sponsorships have their rewards – it’s about contributing something meaningful to local events or causes, whether they be arts-related or sports related. It may even come down to simply getting involved in things like recycling programs, helping keep your neighborhood clean and safe through litter pick-ups, or volunteering at schools or civic buildings around town.
The important thing is that you are a community member, not just an employee. If you can show people that you care about where they live, chances are they’ll care more about where they buy their coffee too.

They Understand How Advertising and Marketing Work.
Marketing is a critical component of any business, whether a franchise or not. A good marketing strategy can help you to stand out from the competition and increase sales. However, it should be based on the needs of your local market, so it’s vital that you understand how advertising and marketing work and how to promote your local franchise to stand out in the marketplace.
You may need to create an effective marketing plan if your franchisor doesn’t provide one for you. Still, many will give you templates from which to work or provide some guidance on developing an effective plan for your business model. If this isn’t possible, there are many online resources where you can find advice about what makes for successful marketing campaigns based on different industries. When developing your marketing plan, the first thing to consider is what type of franchise you are running. How does it differ from other businesses in the same category? If your business is a franchise, then there will be some elements set by the franchisor and others that you can decide for yourself. You can also look at how competitors market their franchises to get ideas.

Successful Franchisees Also Enjoy Being The Boss and Seeing Their Businesses Grow Over Time.
They like the independence that comes with owning a business. Still, they know what they are getting into before signing on as a franchisee. You have to be willing to work long hours for your business to succeed. This can sometimes mean missing out on time spent with friends or family members who don’t understand why some things need doing now rather than later!
However, if you are a person who enjoys being their boss and having a successful business to show for all of your hard work, then becoming a franchisee might be the perfect opportunity for you. If this sounds like something that could interest you, contact our team today for more information about how we can help!

And Lastly, They Have The Proper Capital
Capital is the amount of money you need to start your business. Of course, as a franchisee, some capital will be required to get started, but there are other ways of raising capital. For example, you can approach investors or apply for loans from banks or financial institutions like credit unions.

* Where do I find capital?
* How much do I need?
* How do I raise money?

The amount of capital you need will depend on the type of business you want to start. For example, suppose you’re planning on opening a small retail store or restaurant. In that case, you may only need $10,000 or less in startup capital. On the other hand, if your idea is more complex and requires additional equipment or facilities, you may need between $50,000 and $500,000.

Conclusion

When you sign up with a franchise, they expect you to be committed long-term. Not only does this mean investing money upfront (between $50K-$150K depending on what type of business), but also sticking with it through periods when profits might not come quickly. Such as during the startup phase when everything seems chaotic before systems are correctly implemented or when dealing with setbacks like natural disasters or poor economic conditions affecting customers’ ability to afford products/services being offered by competitors too! If you aren’t willing to put in the hard work upfront, don’t try a startup business because failure rates are high among new entrepreneurs who jump into entrepreneurship without knowing what they are doing.

Franchises are the number one way new entrepreneurs start a business. A franchisee can take advantage of a proven system, brand recognition, and access to capital. But, in return, they must spend time learning about their industry, develop relationships with suppliers and customers, as well as adhere to strict standards set by the franchisor. These requirements differ from starting your own company from scratch but offer many benefits, making them attractive options for businesses seeking growth.

TO LEARN MORE ABOUT SUCCESS IN THE FRANCHISING INDUSTRY CLICK HERE WWW.FRANGROW.COM

Macro Methods To Control Food Costs In A Restaurant And Maximize Profits

Posted on by Franchise Strategist

Photo by Tim Toomey on Unsplash

One way to get better-quality products is by buying local ingredients or those grown locally (naturally). This helps reduce transportation costs, which can lower food cost due to fuel prices—and it also reduces waste since you wouldn’t be shipping food across country lines when there are local farms nearby!

Macro Methods To Control Food Costs In A Restaurant And Maximize Profits
By Gary Occhiogrosso – Managing Partner, Franchise Growth Solutions.

Restaurant owners, chefs, and managers know the value of controlling food costs. But understanding how to manage your restaurant’s food costs can be tricky. This is because so many factors determine what goes on your menu and how much it should cost, from food and labor costs to waste management. Here ais a quick overview on how you can manage your restaurant’s food cost:

Food Cost Percentage
Food cost percentage is the amount of money spent on food divided by total sales. It’s a measure of how much of your sales are going toward the cost of goods, which is used to calculate your profitability.
In addition to being an overall measure of profit margin, food cost percentage also allows you to track discrepancies between weeks and months regarding budgeting. For example, if one month shows a high percentage while another shows a low one, some shifts in staffing or inventory may need addressing before they become problems later on down the line.

Keep Track of Inventory
You must keep track of your inventory. This is the first and most crucial step in controlling food cost. You must know your inventory, its location, and how much has been used or sold. There are several ways to keep track of your supply inventory: a spreadsheet (like Microsoft Excel) or a software program (like QuickBooks or Restaurant 365). You could also use cloud-based inventory management systems such as Restaurant Manager Pro or Inventory Doctor that automatically sync with your POS system.
The benefits of using an automated system include: tracking a cost per item; recording sales by SKU; producing purchase orders based on demand; monitoring stock levels; receiving alerts when stock gets low; comparing product costs against competitors’ prices via price comparison reports; sending out notifications when ordering needs to be done soon because inventory will quickly run out (or vice versa—notifying suppliers that there is excess capacity).

Quality Products
Regarding food costs, the quality of your products is one of the most critical factors. You may be able to save money by buying less expensive ingredients and products, but if they’re not good quality, then you will have wasted your time and money because they won’t taste as good. One way to get better-quality products is by buying local ingredients or those grown locally (naturally). This helps reduce transportation costs, which can lower food cost due to fuel prices—and it also reduces waste since you wouldn’t be shipping food across country lines when there are local farms nearby! Also, local farms tend to use safer pesticides than big corporations because they want their customers happy; nothing makes people mad like finding out that pesticides are used on their food without them knowing about it!

Avoid Waste
Reduce food waste, Recycle food waste.
Recycling programs allow you to turn your leftover food into an asset by turning it into compost or animal feed or donating it to those in need. You can also use recyclable materials and packaging for other items in the restaurant or kitchen, such as cutting boards, aprons, and dish towels. Donate food waste to charity organizations such as homeless shelters, soup kitchens, and food pantries, where it will be used as an ingredient for meals served to those who need them most in our communities. This is helpful from a cost-saving point of view and helps promote community values through charitable giving while helping reduce hunger in America overall! The key is to find a system that meets your needs. For example, if you are a small business owner without an IT department, then a cloud-based solution might be the best choice for you. However, if you have an IT team and can afford software like QuickBooks or Sage 50 US Accounts Plus, then, by all means, use that instead. In addition, you should consider buying local ingredients and products to save money on food costs. They tend to be of better quality because they are grown in the area where people live. This also helps reduce waste since there is no need for shipping across country lines when local farms are nearby!

Use Technology to Manage Inventory and Recipes
The second key to controlling food costs in your restaurant is using technology to manage your inventory and recipes. You can use technology to manage inventory by using a POS system. A POS system tracks sales, manages orders, records customer information, and orders supplies. If you don’t already have one in place at your restaurant, consider getting one before the end of summer because they are beneficial when it comes time for peak season in October (Halloween), November (Thanksgiving), and December (Christmas). Use technology as well when it comes to managing recipes at your restaurant. Recipe management systems allow you to access each recipe anytime via an app or web browser. These programs work on any device with internet access, such as tablets or laptops located in the kitchen area where WiFi connects all these devices. They work together seamlessly even if multiple users operate them simultaneously without slowing down their performance, which means efficiency ratings go up. In contrast, labor costs go down since they no longer need any additional cooks hired just for this task alone since now everyone knows exactly what needs to be cooked next, so no more wasted time spent looking things up!
To restate the top ways to manage the Cost of Goods.

Know your food cost percentage: This should be considered the most important. The food cost percentage is a measurement of how much it costs to make and sell your food (expressed as a percentage). It includes all direct ingredients, packaging materials, labor, overhead, and other expenses associated with preparing ingredients for sale at retail. If your food costs exceed 30 percent of sales, you’re probably losing money on every dollar of revenue generated by your business.

Keep track of supply inventory: Make sure you have accurate records of what you have on hand at any given time to avoid running out unexpectedly and losing customers because they can’t get what they want when they want it! You also don’t want to overstock supplies or make more than necessary if demand is low; that’ll waste money! Please ensure everyone in the kitchen or warehouse knows their responsibilities regarding stocking shelves with new products. In addition, make sure there’s always someone available who understands inventory management software programs (like this one!) so that even if someone leaves unexpectedly due to not knowing how these programs work, there will still be an easy way.

Use compostable materials: Compostable materials are made from organic material that can be decomposed by microorganisms and turned into compost, which can then be used as fertilizer for gardens and farms. Using compostable utensils, plates, and cups at your restaurant or event venue will reduce landfill waste each year to get things done.

Conclusion
As I mentioned up tpo, this is a overview. There are numerous resources on the internet as well as restaurant consultants that assess and recommend a variety of ways to save on food cost and increase profits. While it is difficult to control food cost in a restaurant these simple ways that have proven successful.

The first step is to determine the percentage of your total sales that should go toward food costs. This will give you an idea of how much money you need every month or year to operate at a given profit level.

Next, keep track of supply inventory to keep up with demand and avoid waste by ordering more when needed.

Quality products are also crucial because they will save time (and money) during preparation while providing better flavor profiles at lower prices than similar items sold elsewhere!

Finally, use technology like software platforms to manage recipes and inventory levels without overspending on supplies like employees who take care too long between tasks like chopping vegetables or preparing meatballs.