I previously wrote about the collective shock over the shootout at the Twin Peaks sports bar in Waco, Texas. Turning my fascination into action, I’ve since interviewed several crisis managers, franchisor lawyers and the Twin Peaks CEO and its own crisis manager to discuss what franchisors should do to prepare for the unexpected.
Amit Kleinberger started franchising frozen-yogurt chain Menchie’s in 2008, even though everybody else was doing it, too. Now he’s trying his hand at a newly popular category: artisan pizza, made to order, but he believes his new brand MidiCi will not be an also-ran.
Michael Ansley, CEO of Diversified Restaurant Holdings, just completed a purchase of 18 Buffalo Wild Wings restaurants, in St. Louis, to add to his portfolio of 42. He prefers to control a market when making acquisitions, he told this blogger, and wants to find stores that are under-performing on the top line, the bottom line, or both.
Jeremy Carr is the CEO of BlazeNow and owner of Exhale Med Center in West Hollywood, Calif., one of the leading dispensaries in the LA metro. Carr told me it’s the highest rated shop in the area, and those Google reviews show the level of enthusiasm for this outlet and the category as a whole.
Diversified Restaurant Holdings is the new owner of 18 Buffalo Wild Wings restaurants in St. Louis and becomes the largest BWW franchisee, backed by $155 million in financing from Citizens Bank.
Twenty-three U.S. states allow some form of legal marijuana use, primarily for medicinal purposes, while four states and Washington, D.C. have legalized its use for recreational purposes. With this growing cohort of states, the legitimacy of the cannabis industry is also rising as entrepreneurs examine how franchising can help them grow this still-untamed industry.
Same-store sales and customer traffic levels softened in May, but the National Restaurant Association's Restaurant Performance Index (RPI) remains very positive.
There are some who hit the gym a time or two each week, unless happy hours, dinners out and summer barbecues get in the way. Then there’s Wayne Evans. The co-founder of Massage Heights, Evans is hooked on CrossFit, and is set to compete in the Reebok CrossFit games next month.
Some journalists call out trends far too prematurely, but two recent interviews have me wondering if non-traditional restaurant locations (stadiums, airports, universities, etc...) are a new trend heating up the franchise world.
Saladworks has a new owner, Centre Lane Partners, which invested in the fresh-tossed salad restaurant chain that filed for Chapter 11 bankruptcy reorganization in February. Centre Lane plans to invest “substantial capital” to accelerate the company’s growth nationwide,
On the heels of the recent BDO report cementing the strength of the fast-casual and pizza segments comes news that Atlanta-based Uncle Maddio’s Pizza Joint received a new minority investment from S&S Group, LLC, a private equity firm out of Washington, D.C. that also invested in Five Guys.
Kneaders Bakery and Café has embodied the “stick to what you know” philosophy throughout its rapid yet methodical expansion. Now a 35-unit franchise, Gary and Colleen Worthington opened the first Kneaders in 1997. Their son, James Worthington, has progressed from dishwasher to CEO. Worthington promptly learned that – even for him - it would be the Kneaders way or the highway.
Last week’s International Franchise Expo marked the six-month mark for my career in the franchise world. It feels good knowing my new-guy smell is starting to wear off, and I now have relationships with excellent people in all corners of the franchise world. To quote Jim Morrison, “This is the best part of the trip.”
Here’s another take on the problem of defining a “small” business, for the purpose of obtaining a U.S. Small Business Administration loan—a problem detailed in this blogger’s column in the June/July issue of Franchise Times. It's from Jeffery Haff, Dady & Gardner.
CEO Mike Bidwell said Dwyer Group would ramp up acquisitions after last year’s purchase of the franchisor by The Riverside Co. Looks like he meant it: Waco, Texas-based Dwyer bought Service Brands International this week, a multi-concept system that includes Molly Maid, Mr. Handyman and ProTect Painters.
It’s no shock to anybody following the recent restaurant buzz, but the fast-casual and pizza segments are outpacing the overall industry, according to accounting firm BDO’s Q1 2015 Restaurant Benchmarking update. Even better, protein prices appear to stabilize after significant increases in recent months.
Atlanta-based Roark Capital Group continued its buying spree today with the acquisition of 1-800 Radiator, the largest franchised automotive parts distributor in North America. The purchase was through Roark’s Driven brands portfolio, which it added to its stable this past April.
Food couldn’t be much hotter these days, especially up-and-coming brands that are expanding nationally and going public to great fanfare. Today’s latest foodie IPO is Dallas-based Wingstop, which is on track to raise no less than $110.2 million on its first day on Wall Street.
If it appears the franchise trade mission calendar is stacked in favor of the fourth quarter or thereabout, it is. The Southern China mission is August 21-28, Central America is September 20-25 and the Nordic countries will be visited October 18-24.
As the popularity of pizza chains continues to rise, Austin, Texas-based Gatti’s Pizza has been acquired by Sovrano, LLC, out of Fort Worth, Texas—one of several franchised restaurant brands to attract private equity investment in recent years.