Having just interviewed a 22-year-old Erbert & Gerbert’s franchisee from Texas, who impressed the heck out of me, it’s a great time to shine a light on the IFA’s fantastic NextGen in Franchising Global Competition that is accepting applicants for the year.
BlueGrace Logistics of Riverview, Florida, got a $255 million shot in the arm this week from private equity firm Warburg Pincus, which its founder says will provide “a major shot of adrenaline” to growth plans.
It’s not just the humidity. As a business reporter, things tend to slow down during the dog days of summer. While the presidential election reaches its climax for boredom or excitement, a fresh round of economic indicators paint a rosy picture of our union as we enter the final weeks of summer.
The taco-eating challenge at The Palms in Las Vegas this year was chronic, if not pretty. The legendary eater and reigning champ Takeru Kobayashi gobbled down137 chicken soft tacos in 10 minutes to claim the $5,000 cash prize and the flowered skull trophy of the 6th Annual Gringo Bandito Chronic Tacos Challenge.
Michael Kaplan, owner of a Zerorez franchise in a Minneapolis suburb, simply wanted to congratulate the “11 amazing Minnesota athletes” competing in the Olympics in Rio, using social media to do so. But when his attorney warned him against it, citing aggressive actions against other small businesses by the U.S. Olympic committee to protect its trademarks, Kaplan decided to sue in federal court.
After news that Little Caesars is building a new headquarters in Detroit comes another great Motor City tidbit: Moe’s Southwest Grill, an Atlanta-based burrito brand, is looking for multi-unit franchisees to bring the brand into the resurgent Midwestern city.
In a joint release, Dallas-based Wingstop announced its second quarter ‘16 financial results showing revenue up 18.2%, 69 new locations opened, same-store sales up 3.1 percent and—perhaps most significantly—the signing of a new international franchise agreement that will bring 100 new Wingstops to Saudi Arabia.
Just in case you don’t have enough things to worry about, attorney Whitney Fore of Gray Plant Mooty adds one more: Who pays the legal bill in cases where franchisees and franchisors land on the same side of a lawsuit.
When the waiter brought a miniature clothesline to our table with two pieces of dried beef hanging from it, attached by tiny clothespins, we knew the evening at Restaurant Europea in Montreal would be like no other.
As Smoothie King celebrates a major milestone—its 800th store opening—the New Orleans-based company is focused on hitting 1,000 units by the end of 2017. It’s a lofty goal, but its owner and CEO, Wan Kim, is no stranger to achieving massive goals both as a master franchisee in South Korea and, now, as leader of one of the franchise industry’s healthiest brands.
A pair of damning reports predict some dark times ahead for the restaurant industry. Paul Westra, an analyst with Stifel, issued a report that announced the firm is taking a bearish stance on all restaurants and issued a “restaurant recession outlook.”
Michael and Babz Barnett had their 15 minutes of fame six years ago on the hit TV show "Shark Tank." Like other contestants, they pitched their concept—a modernized kids’ gym called Romp ‘n Roll—to high-powered celebrity judges, and got the coveted offer. Then they promptly turned it down.
The latest issue of Franchise Times has a new feature by Julie Bennett where she examines a franchisor’s financial disclosure document—the FDD—in search of strengths and red flags. It inspired me to dive into an FDD on my own for a look at what this document contains for nervous first-time franchisees.
The animals at the Brookfield Zoo may wish they still rested their weary heads on the Savannah grasses in the wild, but at least their new beds have a high-thread count. That’s because the Hilton Chicago /Oak Brook Hills Resort and Conference Center has donated 500 sheets, pillow cases, blankets and duvet covers to the zoo as off-exhibit area bedding for its endangered animals.
If it seems the people in the corner office (or more likely today, at their standup desks in the middle of an open floor plan) are getting younger and younger, Safeway Driving Schools’ two new vice presidents are cases in point.
I’ve never been a beer drinker. In college, my dates had to pony up for sloe gin or a really nice bottle of white zinfandel if they wanted me to enjoy keggers. So only a mother’s unconditional love for her child induced me to go on a brewery tour with my son Zack in St. Petersburg, Florida.
Negotiations between Arby’s and pro golfer Andrew “Beef” Johnson on changing his nickname to “Meats” came to a screeching halt when Johnson finally told the fast-feeder in no uncertain terms it would not be able to claim “We have the Meats.” But they could say, “We have the Beef.” (Not to be confused with “Where’s the beef,” which is Wendy’s hole in one.)
After several years of ownership by Atlanta-based Roark Capital, Batteries Plus Bulbs has been acquired by Los Angeles-based private equity firm Freeman Spogli & Co. Finalized at the beginning of July 2016, the acquisition’s financial terms were not disclosed.
Today, most houses come with high-end tile, countertops and wood flooring, but most people don’t know how to properly maintain such materials. You may try some old standbys—bleach, ammonia and vinegar—before becoming exasperated and calling in a professional. That’s where Sir Grout comes in, a 38-unit chain based in Alpharetta, Georgia, that’s growing quickly as more homes come with nicer, more expensive and, ultimately, harder to maintain materials that are immune to the trend of DIY.
Whether you already play the game, or are simply baffled by the manic popularity of Pokemon Go, allow me to explain, and offer a way to possibly turn hordes of wandering players into some additional traffic at your retail store or restaurant.
A tale of two hotels, one franchised with a theme, one non-franchised with a theme.
Brock Lesnar is enormous, the former NCAA wrestling champion when he was at the University of Minnesota and a former Minnesota Vikings defensive player, we see from our box at the T-Mobile Arena in Las Vegas at the UFC 200 last Saturday. As we would soon learn, mixed martial arts organization UFC itself is huge, too.
“Let’s go, Frankie. Let’s go Frankie. Let’s go Frankie,” roars the crowd at the UFC 200 last Saturday as Frankie Edgar took on Jose Aldo. Franchise Times is here as guests of UFC Gym, the franchise that features mixed martial arts training with its own octagon, and Edgar is a new owner of a New Jersey Gym, so this is our guy.
Margaritas Mexican Restaurant GM Shawn Barton used to just watch guests watch a video playing on the casual-dining chain’s TVs, but after returning from a management-paid trip to Mexico he now can narrate the travelogue.
Massage Envy is really huge—to the tune of more than 1,125 domestic units—but it’s fixing to get much bigger and a little more worldly with a recently announced partnership with Australia’s Collective Wellness Group to add approximately 100 units down under over the next 15 years. It will be the franchised massage giant’s first foray outside of the United States.
With so many new fast-casual pizza concepts out there, many industry watchers see Pieology’s recent acquisition of Project Pie as the first move in an eventual wave of consolidation that will trim the number of players in this rocket-fueled segment.
Marriott International, one of the world’s largest hotel companies, is edging closer to buying Starwood Hotels & Resorts in a $12.2 billion merger that would create one of the world’s largest hotel companies.
Nearly all franchisors hope to align their interests with their franchisees’, of course, but Instant Imprints believes it is the only franchisor to offer something more tangible in that effort: 10,000 gifted common shares to every existing and new franchisee at no additional cost.
Think of the countless good things technology has wrought since the Industrial Age, and then marvel at how bread—something so elemental to human nourishment—has hardly improved at best or, at worst, been reduced to pseudo bakeries in grocery stores where we all buy the same, bland loaves of once-frozen, trucked-in bread. We can do better as a society said Eric Keshin, president, CMO and principal at Great Harvest Bread Company.
The things you learn when getting ready to head to Vegas for UFC 200 this weekend, to cover featherweight contender and UFC Gym owner Frankie Edgar and more.
Having been a long-term patient at a franchise health system—and, of course, a journalist covering the franchise world—I’ve been curious about how medical franchises attract and retain quality professionals in the face of competition from big, established health systems.
Now with 25 international locations beyond its home state of New York, Magnolia Bakery CEO Steve Abrams is thinking even bigger as he looks ahead to the brand’s 20th anniversary. Abrams, who has been CEO of the bakery since 2007, is looking to bump the franchise total up into the 150-200 range in the coming year.
Restaurateurs, raise your hand if you didn’t know you were not allowed to sing 'Happy Birthday' to your guests when they celebrated their birth at your restaurant—unless you paid a licensing fee to a third party.
We’ve been hearing over the course of the past week or so what Brexit, Britain’s exit from the European Union, means to Europe and the U.K, but what’s its effect on franchising there?
With more and more companies investing in delivery technology—restaurant companies and third-party delivery services such as GrubHub and Seamless alike—expect to see more high-tech vehicles and delivery pods in the future. And, in five years or so, look for me to be writing a similar release about new features added to the Domino’s Delivery Drone. I don’t have official confirmation, but believe me when I say it’s coming soon to a window near you.
Panera Bread announced it will do away with the remaining artificial flavors, artificial sweeteners, artificial preservatives, and colors from artificial sources in its Panera at Home products. The company expects its entire portfolio of nearly 50 grocery items to be clean, meaning free of its ‘No No List’ additives, by the end of 2016.
44 Business Capital, a division of Berkshire Bank, recently hired David Nayor as First Vice President, SBA Lending for the NYC, Westchester County, NY and Fairfield County, Conn. market.
The West Bank isn’t at the top of the list for most U.S franchisors heading to the Middle East, however, franchises such as KFC, Pizza Hut and Domino’s are doing very well there, according to Issa Noursi, the U.S. Commercial Service specialist in the Jerusalem office.
Good news for the hospitality and travel industry, as a new report from First Data shows that while overall consumer spending slipped in May, travel spending shot up 6.2 percent, leading all industries tracked by the point-of-sale network.
The franchise expo in New York City is always the biggest and the brightest of the MFV expos, at least in my humble opinion. For one, come on, it’s in New York City. And two, it has a visible and arranged international presence thanks in part to the U.S. Commercial Service, which imports field staff in for the weekend.
Who says cupcakes are dead, the rise and fall of Crumbs notwithstanding? Not FundCorp, the Texas private equity firm that bought Gigi’s Cupcakes from founder Gina Butler earlier this month.
Chris Mellgren, CEO of Surfside Coffee, built his Dunkin’ Donuts operation in and around Miami to 68 stores in a mere two years. Now he’s signed with PizzaRev to add 45 restaurants in the same locales, in a move that could be called stable to sexy.
Judging from anecdotal surveys of millennials and appreciating home values (that are rising faster in areas with higher WalkScores), it’s clear the next waves of American growth will happen in the densest, most pedestrian-friendly cities in the country.
As the 800-pound gorilla of the restaurant industry moves its headquarters from the Chicagoland suburbs into a new downtown campus, the rest of the franchise world—’zors to multi-unit ‘zees—needs to think about its own location and how that impacts employee recruitment and retention.
When asked if he thinks that macaroni and cheese could be one of the next big restaurant categories, Patrick Cain of Mr. Mac’s Macaroni and Cheese said, “I do, but don’t tell anybody.” Given the popularity of the cheesy staple and millennials’ limitless craving for nostalgia, it’ll be hard to keep it a secret for long.
Ben & Jerry’s came in No. 1 with the most positive social mentions in 2015, followed by Wingstop and then Applebee’s, according to NetBase’s first Social Media Industry Report 2016: Restaurant Brands.
Frankie Edgar, the former UFC lightweight champion and current featherweight contender, will take his fighting skills to the business arena this weekend for the grand opening of a signature UFC Gym in North Brunswick, New Jersey.
With some offbeat but undeniably effective Arby’s advertising in his back pocket, Arby’s CMO Rob Lynch has been a key part of the brand’s revival—and he just received some well-deserved recognition being honored as Chief Marketing Officer of the Year by PR World Awards.
I’ve seen the booths for e-cig and vape shops at franchise shows for years, but never had much interest, assuming the category was bound to be taken down by regulations or, worse yet, studies showing them to be as dangerous as some have predicted. With more data, and even more uncertainty, I’ve changed my mind and am digging into this industry for an upcoming feature in Franchise Times.
If today’s flood of adult coloring books chose law firms as a subject, a rainbow of Crayola colors would be required to adequately capture a law firm’s vibe. This was not the case in the 1950s, when the only crayons needed were gray for the men’s suits, white for their faces and mahogany for their desks.