Burgerim, the mini burger-focused concept that originated in Israel and was brought to the United States in 2014 by Oren Loni, sold more than 1,000 franchises within five years. Hundreds of franchisees paid the $50,000 franchise fee, built and opened stores, but didn't come close to the 23 percent operating profits Loni promised, says franchisee Robert Jameson.
When Burgerim began selling franchises in the U.S., it did so without the usual validation. What Burgerim did have was its president, Oren Loni, an Israeli citizen who claimed to have extensive experience in launching "highly successful" restaurant franchises in Israel and other European countries.
Burgerim, of Encino, California, is one of the nation's fastest-growing better burger chains, with 80 units open around the country and more than 600 franchises sold since the start of 2017. How a franchise could hit those numbers with no corporate stores or national ad campaign is only part of the mystery.
Three years ago, Menchie's frozen yogurt CEO Amit Kleinberger gambled against conventional wisdom and started selling franchises for a new pizza concept before opening a single company store. He lost the bet and filed for Chapter 11 bankruptcy protection on September 21.
Three years ago, Menchie's frozen yogurt CEO Amit Kleinberger gambled against conventional wisdom and started selling franchises for a new pizza concept before opening a single company store. He lost the bet and filed for Chapter 11 bankruptcy on September 21.
Jo Kirchner, CEO of Primrose Schools, believes effective advocacy starts long before a leader pushes to get something done.
Suzanne Greco was seven years old when her big brother, Fred DeLuca, opened what became the first Subway restaurant in Bridgeport, Connecticut, in 1965. “I stayed in the background while everyone else was working,” Greco said, “but I aspired to be a worker, too. Fred and our mother gave me little chores, like sweeping the floor and drying dishes.”
Jackson Hewitt, with over 6,000 franchised tax preparation centers, is now owned by Bayside Capital. The company operates from individual tax centers and from over 3,000 tax preparation kiosks in Walmart stores. These kiosks, called national account locations, may be operated by franchisees or Jackson Hewitt corporate.
The total investment for a single Primrose school ranges from $707,180 for franchisees that lease a facility from a third party to $3.5- to $5.7 million for the majority of franchisees, who purchase land and build their own preschool campuses under development programs offered by the franchisor. Mary Jo Kirchner has been CEO since 1999, but several top executives, including those in charge of school development, early childhood education and professional development, franchising, and franchise administration, joined the company since the beginning of 2013. President Steven Clemente arrived in May 2016.
Tropical Smoothie Cafe was launched in Tallahassee, Florida, in 1997, and grew to 310 franchises before being purchased in 2012 by BIP Opportunities Fund, an Atlanta investment firm. The total investment for a Tropical Smoothie Cafe is $210,550 to $478,550.