Edit ModuleShow Tags
Edit ModuleShow Tags

Advice Abounds for Would-Be Owners in Zor Awards Package


Published:

Franchise Times Zor Awards, identifying the best franchises to buy in each of 10 categories, will debut in the March issue.

How do top-performing operators select the franchise brands that are right for them? We’re getting an earful on the topic, from multiple franchisees we’re featuring in our upcoming Franchise Times Zor Awards package, which will identify the best franchises to buy in each of 10 categories, to be published in March.

Joe Stein, a Blaze Pizza operator in Southern California, recommends prospects keep their eyes open on discovery days, when franchisors invite prospects to company headquarters to meet the staff.

He pays attention to the quantity of executives in place—is there a director of operations, of real estate, of construction, of training, etc., which would indicate the brand is investing in infrastructure ahead of its growth. Quality, too, is important: Do those people have deep and broad experience so they can support franchisees?

Amber Sutton Donohoo, a Dogtopia operator in Virginia, recommends creating a detailed pro forma, also known as a forecast of revenue and expenses, before committing to a brand. Information can be culled from the brand’s franchise disclosure documents, of course, but she advises augmenting those stats by talking with franchisees and corporate store managers. Then plan on at least 18 months before taking any money out of the store—which means, be sure to build up plenty of savings before taking the plunge.

There’s much more advice to come, so stay tuned.

 

Edit Module
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags


Covers everything from good news to bad judgment

About This Blog

The latest news, opinions and commentary on what's happening in the franchise arena that could affect your business.

Tom KaiserTom Kaiser is associate editor of Franchise Times. He can be reached at 612.767.3209, or send story ideas to tkaiser@franchisetimes.com.
 
Beth EwenBeth Ewen is editor-in-chief of Franchise Times. She can be reached at 612.767.3212, or send story ideas to bewen@franchisetimes.com.
 
Nicholas UptonNicholas Upton is staff writer at Franchise Times. He can be reached at 612.767.3226, or send story ideas to nupton@franchisetimes.com.
 
Mary Jo LarsonMary Jo Larson is the publisher of Franchise Times Magazine and the Restaurant Finance Monitor.  You can find her on Twitter at
 twitter.com/mlarson1011.
 
Nancy WeingartnerNancy Weingartner is editor-at-large of Franchise Times magazine and the editor of the Food On Demand media project. You can reach her at 612-767-3200 or at nancyw@franchisetimes.com.
Follow her on Twitter at http://twitter.com/nanweingartner.
 

Archives

Categories

Feed

Atom Feed Subscribe to the Franchise Times News Feed »

Recent Posts