Franchise Times News

Covers everything from good news to bad judgment
'Humble Pudding' Wasn't Bitter for Popeyes, CEO Says

02/24/14

'Humble Pudding' Wasn't Bitter for Popeyes, CEO Says

  Suppose you spent thousands on a design firm to remodel your restaurants, tested the new look at multiple stores in the city where your brand was founded, and invited franchisees down for the big reveal party—and the franchisees hated it. That’s what Cheryl Bachelder, CEO of Popeyes, faced a couple of years ago, she told an International Franchise Association audience at her keynote address today. Franchise owners thought the colors were too loud, the design was “too weird,” the furnishings looked cheap and it all cost too much—this after months and months of work on the new look. So they did what seems like the impossible. “The design team ditched it all, and did a complete start over,” she says. “Two years...

Posted at 04:12 PM | Permalink | Comments

First 3 Months Crucial, Fresh to Order Founder Believes

02/24/14

First 3 Months Crucial, Fresh to Order Founder Believes

  Pierre Panos spent years as a franchisee of four different brands, each with more than 1,000 units at the time he became an owner, and he’s still a big operator for Papa John’s. So he learned a few things about training franchisees, he told an audience at an International Franchise Association panel today. He’s using some of those lessons at the franchise system he founded, Fresh to Order. “The first three months of execution determines the first three years of sales,” Panos believes. If you don’t “open perfectly,” as he insists upon, “it will take you three years and $300,000” to regain the ground lost. Panos describes Fresh to Order as “fine food fast,” or borrowing elements from fine...

Posted at 04:06 PM | Permalink | Comments

CarePatrol Buys Competitor, Will Convert 60 Units

02/18/14

CarePatrol Buys Competitor, Will Convert 60 Units

CarePatrol Franchise Systems acquired their biggest franchise competitor, Assisted Transition. The deal will give CarePatrol approximately 150 franchises by the end of the year after converting about 60 into the CarePatrol system. Chuck Bongiovanni, CEO of the Gilbert, Arizona-based chain, says he pursued the purchase “because we believe that there needs to be changes in the placement industry.” A social worker by professional background, he says CarePatrol uses a social work model to deliver services to clients, including, for example, by answering client phone calls using Master’s level social workers rather than the typical “call center employees.” Franchisees must receive their national certification as a certified senior advisor to...

Posted at 02:08 PM | Permalink | Comments

Project Pie Lands Capital, Strategy from Lee Equity

02/18/14

Project Pie Lands Capital, Strategy from Lee Equity

James Markham, the founder of Project Pie in Carlsbad, California, is the latest contender in the fast-casual pizza business to land a heavyweight partner. He’s announced a partnership with New York City-based Lee Equity Partners, headed by investor Thomas Lee. Markham said he welcomes the capital Lee Equity Partners will invest in the brand, but more so the strategic viewpoint from the investor himself. “I am equally excited about being associated with Tom Lee, who has a long-term track record of successful, well-known consumer and retail investments,” Markham said in a statement. Lee called James “a pioneer and visionary in this industry,” and believes the concept “can succeed across the country and internationally.” Last...

Posted at 02:06 PM | Permalink | Comments

12 Win Prestigious Franchise Times Dealmakers Awards

02/11/14

12 Win Prestigious Franchise Times Dealmakers Awards

Franchise Times today announces winners of the 2014 Franchise Times Dealmakers awards, the second annual project recognizing the boldest players driving mergers and acquisitions in franchising.  “These dealmakers are smart, relentless and creative in driving capital toward the best companies in franchising,” says Beth Ewen, managing editor, who oversees the Franchise Times Dealmakers project. “We’re proud to highlight their work and share their tactics with the readers of Franchise Times.” The 2014 Franchise Times Dealmakers will accept awards and tell how they landed their deals at a gala awards luncheon Thursday, March 27, 2014, when the Franchise Times Deal of the Year will also be revealed. The luncheon is a highlight of the Franchise...

Posted at 02:25 PM | Permalink | Comments

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