If you’re considering selling your business anytime in the next few years, a franchise business broker has this piece of advice: act now, because we’re at the top of the cycle of this continued but can’t-last-forever seller’s market.
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.