A new accounting rule will change when franchisors can recognize revenue from initial franchise fees—stretching it out for the life of a development agreement rather than when the first location opens—and could mean a big hit to income statements. So warns Kevin Hein, a franchise attorney at Alexius in Denver.
As reported in its Q4 2016 financial results, Domino’s Pizza grew domestic same-store sales 12.2% during the quarter, while international sales shot up 4.3%. It also opened a record 1,281 stores during the year, which includes 171 net new domestic locations.
Would you take advice from the man who wrote the book, “The 4-Hour Workweek”? If so, then Tim Ferriss’ keynote talk at the International Franchise Association annual convention was for you. (The conference was Jan. 31-Feb. 2, and if I hadn’t cut my work week to four hours since then, I might have posted this blog earlier.*)
“When we find an opportunity, we sort of jump all over it, and it demonstrates to folks how serious we are to grow.” So says Barry Dubin, chief development officer at KBP Foods, one of the Franchise Times Dealmakers award winners I’ve been interviewing over the last week. Here are a few more:
It’s somewhat crazy that 'Fixer Upper,' 'Flip or Flop' and 'Property Brothers' are so popular their stars’ lives have become tabloid fodder. For Trend Transformations, an international flooring and home hard surface restoration franchise tied up with Tarek and Christina El Moussa, the drama surrounding their divorce has been outweighed by the visibility gains for their company.
With as many as 150 new food halls predicted to open in the next few years, these modern day food courts with higher-end food offerings are the bright spots offsetting tough times in the retail scene as many big-name brands are facing what may be their darkest year in business.
The Small Business Administration temporarily tweaked its new procedures governing lending to franchisees, to the relief of many franchisors and bankers who maintained the new rules would chill franchise lending.
Just one day before his long-awaited confirmation hearing for secretary of labor, Andrew Puzder became the lone cabinet nominee to date to not get the nod, a blow to his many supporters in the franchising community who hoped the CEO of CKE Restaurants would set the department on a pro-business track. But at least one workers' group cheered.
I’m all about encouraging diversity in franchising, and was pleased to see some new statistics on women in franchising from Franchise Business Review. On the whole, FBR’s numbers point to a clear majority enjoying operating the business, while barely more than half feel their work/life is balanced.
At Edible Arrangements, Valentine’s Day is the single biggest day of the year.
With fond memories of A&W root beer floats with my parents and brother when I was a kid, I’m happy to hear the news that the brand is back on the gas five years after its sale by Yum. For the first time in more than 10 years, A&W is reporting systemwide revenue and store count growth, as it kicks off a new franchise sales initiative.
Noodles & Company, the fast casual concept struggling with declining sales for better parts of the last year, has announced plans to close approximately 55 “underperforming” restaurants in the coming months.
Things have changed since most of us received our driver education training during our teenage years. What used to be within the purview of brave school teachers has now been passed off to the private sector as many school systems have cut funding for in-school driver’s ed courses. As this trend spread throughout the United States, Washington-based 911 Driving School has profited and expanded to fill the void.
One of the best decisions Marc Mushkin made in his lengthy career in international franchising is not putting the 'Do Not Disturb' sign on his hotel door in Kolkata (formerly Calcutta).
Just weeks after my Franchise Times cover story on Domino's, the Ann Arbor, Michigan-based pizza giant has outdone itself with a pizza wedding registry. Seriously.
It was another terrific year for seafood franchising giant Captain D’s, as the company obtained a record-high systemwide AUV in 2016. It saw fourth quarter system wide sales increase 1.3 percent, along with a 2.3 percent systemwide same-store sales increase over the year. This marks six consecutive years of sales growth for the Nashville-based company.
Two days into my third trip to the IFA annual convention in Las Vegas, I’ve once again seen the remarkable diversity representative of the amazing, global shifts underway in franchising. And I’m not just saying that because it was part of my presentation on the first day.
Restaurants are said to be a pennies business, so it was only fitting that when the Ray Kroc character in the film, 'The Founder,' meets his future wife, Joan, playing the organ at a fine-dining restaurant in St. Paul, he joins the attractive blonde at the keyboard to lustfully sing 'Pennies From Heaven.'
Franchise operators spend a lot of time worrying about overtime, but the real villain in their businesses is undertime—the amount of money employers pay for disengaged workers who are present only physically. That’s advice from the kilt-wearing Dave Mortensen and Chuck Runyon, co-founders of Anytime Fitness, who gave a lively keynote address today at the IFA's annual convention.
“It took 50 years to create this misperception about franchising. It will not be undone in 50 weeks,” declared Aziz Hashim, chair of the International Franchise Association board of directors, in the opening general session of its annual convention in Las Vegas yesterday.