Franchise Business Opportunities

Extreme Pita Plans Opening In Manhattan

October 4, 2006 by Mark | 0 Comments

The Star:

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It has taken The Extreme Pita nearly 10 years to get from Mississauga to Manhattan, but the Canadian fast-food chain says it’s poised for a breakthrough.

The franchise firm, which until now has been largely a suburban phenomenon, is opening its first urban restaurant next month in the heart of New York City.

“We’ve been working for months tweaking the concept,” said Alex Rechichi, who co-founded the chain with his brother, Mark, in 1997.

The Manhattan site is part of an aggressive expansion plan that will see the company double the number of locations it opens next year, including more Toronto-area stores, Rechichi said.

“We don’t have a lot of stores in downtown Toronto,” he said. “When we started franchising seven years ago it was tough finding locations in the city that were competitive from a rental perspective and still a good retail location.”

So, the company opted to focus on the suburbs and beyond. The result is a chain of nearly 200 restaurants that stretches from coast to coast, including 12 in the southwestern United States.

In each region, the company teamed up with an “area developer,” someone who knew the market and would promote the brand in exchange for a percentage of the revenue, Rechichi said.

Now, with three area developers in Canada and two in the U.S., the company is poised to grow exponentially, with more than 100 restaurants planned for next year, he said.

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Ice Cream Franchisees Serve Up A Lawsuit

October 4, 2006 by Mark | 0 Comments

Canada.com:

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Two Montreal businessmen are suing one of the country’s largest fast-food franchisors for nearly $2.5 million over an ice cream and frozen yogurt shop the partners say they were misled into buying.

Jerome Balaramanpillai and Sintram Royce-Mayo of Simbal Group Ltd. are seeking $2.45 million from MTY Tiki Ming Enterprises Inc., a subsidiary of MTY Food Group Inc. of St. Laurent.

According to their Quebec Superior Court claim, MTY representatives “acted in a high-handed, malicious and reprehensible fashion and in wanton and contemptuous disregard for the plaintiffs” in getting them to buy the assets of a La Cremiere franchise operated by 9037-6096 Quebec Inc. in the downtown Promenades de la Cathedrale complex in the fall of 2004.

They say MTY vice-president Andre Casavant failed to indicate to them that sales at that outlet were on a downward trend, citing yearend sales as being $120,000, when the plaintiffs claim they subsequently discovered the revenues were $102,000.

The lawsuit states Casavant told them they would be able to increase sales up to $150,000 or more by soliciting the core businesses and clients from both the Promenades de la Cathedrale and adjacent Complexe les Ailes while assuring them the nearest competing La Cremiere would be the existing one in the nearby Eaton Centre when he knew MTY was planning to open another only 350 feet away in the Complexe in May 2005.

They also claim to have been guaranteed the equipment being purchased by the numbered company would be 100 per cent operational and in working condition. Instead, it required constant repairs due to frequent breakdowns.

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Making The Decision To Exit Your Franchise

October 4, 2006 by Cris | 0 Comments

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AllBusiness:

There are many reasons why franchise owners decide to close up shop. Sometimes it’s a personal decision: too much pressure, too little free time, the desire to move on to something new. But often the decision to exit a franchise has a lot to do with the profitability (or lack thereof) of the business.

Many people go into a franchise business assuming that their success is guaranteed. Why wouldn’t it be, with the backing of a powerful, successful brand and product? But sometimes the particular quirks of franchising can cause significant headaches. Encroachment by rival franchises can steal away customers. Inflexible or unhelpful franchisors can also be a problem, and you and your franchisor may not always have a good working relationship. What are you doing paying a third party a percentage of your sales when it doesn’t give you the support you need in purchasing, hiring, and training? Continue reading Making The Decision To Exit Your Franchise

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Franchise Owners Buy A Head Start

October 4, 2006 by Cris | 0 Comments

Entrepreneurs secure an immediate product with support and training, but it comes at a cost.

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DesmoinesRegister.com:

Angela Williams‘ small frame shop in West Des Moines is starting like many small businesses. She is working to build a customer base, trying to find the right mix of inventory and getting the word out that she’s open.

Williams also has a slight edge against some small businesses: She has built-in help. Like a growing number of entrepreneurs, she bought a franchise as a way to get into business.

Her shop, the Great Frame Up in West Glen Town Center, is 1 of 180 franchise stores for the St. Louis-based company. Williams bought not only a franchise name but also the expertise, training and support she needed to launch her shop.

The number of companies offering franchises in the United States grew by 900 to 2,500, from 2003 to 2006, said Amy Bannon, spokeswoman for the IFA in Washington, D.C. Corporate downsizing and an increased desire for entrepreneurship have fueled the increases.

Entrepreneurs can get an established name, training, support, marketing help, research and development from a company that has already road-tested the concept, Bannon said.

Customers know exactly what to expect when they pull into a Maid Rite parking lot, said Bradley Burt, chief executive of the West Des Moines-based franchise. ‘Our name says it all,’ he said. ‘People expect a nice, friendly, clean restaurant when they walk in.’

One of the oldest franchise companies in the nation, Maid Rite was founded in 1926 in Muscatine and sold its 1st franchise 2 years later, he said. The company now operates 67 franchises in 9 states. Next year there are plans to add 18 more, Burt said. ‘We’re good at franchising, that’s our niche.’

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Last Week In The Business Opportunities Weblog Network

October 3, 2006 by Dane | 0 Comments

Business Opportunities Weblogs Network The Business Opportunities Weblog Network is made up of eleven niche business blogs. Here’s a selection of popular posts from around the network:


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Chewing Over Ideas For A Franchise

October 3, 2006 by Mark | 0 Comments

News Day:

You think you have what it takes to be an entrepreneur, but you don’t want to go it alone.

Franchising seems like the best idea, but picking the right one can be overwhelming given the hundreds of concepts and brands to choose from.To be sure, there seems to be a franchise nowadays for everything from scooping pet poop to junk removal, with new ones popping up every day.

In the past three years, nearly 900 new franchise concepts have been introduced, according to a study released by the International Franchise Association, a Washington-based trade group, and Frandata, an Arlington, Va.-based research firm.

So, how do you know what’s right for you?

Well, to some degree it’s like choosing a life partner: You’re looking for a long-term commitment, so you want to make sure it’s not an infatuation that fades after the honeymoon.

But prospective buyers too often end up buying the first franchise they see.

“They like the taste of ice cream so they go buy a Cold Stone Creamery,” explains Dan Rowe, chief executive of Fransmart, a franchise development firm based in Alexandria, Va. “You really have to do your research.”

The Internet is a great place to get started because most companies’ brochures are online. For many people, the amount they can spend will narrow the choices significantly, but they shouldn’t jump at the first low-cost investment.

You generally want to see a sales-to-investment ratio of at least 2 to 1 and optimally 3 to 1, says Rowe. So if you invest $200,000 you should realize at least $400,000 in annual sales by the end of your first year. You also want a net income or pretax net profit of at least 15 to 20 percent, he adds.

Such information can be purchased from a company like Frandata, says Rowe. And a company’s financial performance is generally outlined in a Uniform Franchise Offering Circular.

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Century 21 Celebrates 30 Years In Montreal

October 3, 2006 by Mark | 0 Comments

Franchise Wire:

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Montreal, QC – CENTURY 21 Canada celebrated its 30-Year Anniversary at the annual CENTURY 21 Canadian Conference held this year in Montreal, QC. With near record-breaking attendance, the 2007 Conference was a huge success, boasting an impressive lineup of keynote speakers, a lively entertainment line up throughout, an exceptionally elegant awards event, and much more.

The Sales Associate of the Year and Franchisee of the Year for 2005 were each announced, in keeping with the CENTURY 21 tradition of recognizing outstanding System members who satisfy the requirements of nearly 20 qualifying categories. The 2005 Sales Associate of the Year is Don Wyld of CENTURY 21 Town & Country Realty Inc. in Kingston, ON, who has racked up 33 awards in various categories since he began with the CENTURY 21 System in 1997. Don Wyld is the founding member of the Military Relocation Network after having served 25 years in the Canadian Armed Forces and attributes his sensitivity towards movers’ needs in part to his having relocated his family over 19 times in his service years.

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Dublin Accountant Buys A Slice Of Four Star Pizza

October 3, 2006 by Mark | 0 Comments

Times Online:

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The founder of one of the country’s most successful accountancy firms, is heading a consortium that has just bought the Four Star Pizza franchise in Ireland.

The accountant is the lead investor in Zowington, a company that is believed to have paid more than €5m for the Irish rights to the Four Star Pizza trademark. The franchise was purchased from Anne O’Leary, the Wicklow businesswoman.

Zowington has also agreed to purchase the rights to the international trademark for Britain and is drawing up plans to bring the franchise to that market.

It is understood that the new owners plan to double the size of the chain over the next five years. There are 32 Four Star Pizza outlets in Ireland, most of them in the republic.

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Green Acres Rewards Franchisee Excellence

October 3, 2006 by Mark | 0 Comments

Scoop:

Hamilton couple, Andrea and Barry Dorn have won the 2006 Green Acres Master Franchise of the Year Award.

This is the 10th year in which Green Acres has presented the hotly contested prize. The Dorns will receive a cup, wall plaque and a $1000 travel voucher, but more importantly they get 12 months of boasting rights over 900 Green Acres sub-franchisees and 35 master franchisees from the Bay of Islands to Invercargill.

The year has been a good one for Waikato franchisees, with Craig and Shona McDonald carrying off the 2006 Hire a Hubby Franchisee of the Year Award.

To take out the Master Franchisee award, which is judged by three senior Green Acres executives, Andrea and Barry had to demonstrate excellence in every aspect of their lawn mowing, property maintenance and car valet business, which operates in Hamilton and the greater Waikato area. Key criteria include sales and revenue growth, franchise management, local advertising, corporate image, client feedback and business administration.

This year’s awards were the most keenly contested ever. “We have a points system for the awards with a maximum score of 20,? says Green Acres CEO, Andrew Chisholm. “Six master franchisees scored 16 points this year, but the Dorns scored 18 to make them clear and deserving winners?.

“Andrea and Barry were successful in meeting their sales targets in a tough environment. With a large geographical area to cover, the Waikato is a notoriously difficult area to manage. In saying that the Dorn’s have established an excellent team of sub-franchisees servicing Hamilton and all of the satellite towns in the Waikato. Client demand and feedback consistently points to a smooth operation. They’re certainly worthy winners.

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Ruby Tuesday Franchisees From Around The World Gather For Annual Meeting

October 3, 2006 by Mark | 0 Comments

Biz Yahoo:

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They came from a dozen countries and spent four days sharing strategies, standards, and a vision of future growth and development. They made hand-crafted burgers, toured restaurant kitchens, attended classes, and, in between, played their own World Cup of Soccer, chain restaurant-style. They are the owners and operators of Ruby Tuesday franchises in international locations that range from Iceland to India, and they gathered at the world headquarters of the company that is one of the leading casual dining brands in America and abroad for an annual meeting and awards ceremony in mid September.

This event is an opportunity to bring together the people who are standard bearers for our brand in the four corners of the world,” said Mark Ingram, Ruby Tuesday’s President of Franchise Development. “They exchange ideas, listen and learn – in significant detail – about our latest innovations, processes, and management tools, and go home to run even more successful Ruby Tuesdays in their respective countries and territories,” he added. “They, and we, also have a lot of fun.

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