Exclusive territory rights providing a potentially unopposed market presence.
National brand support including advertising, SEO, and a robust franchisee network.
Flexible, home-based business model allowing for full-time or part-time commitment.
Destination Athlete is a franchise that provides comprehensive resources for youth and school athletic teams, specializing in equipment, apparel, fundraising, and performance solutions. Established in 2008, the company offers entrepreneurs a low-cost, home-based opportunity to support athletes and sports teams with a one-stop resource that aims to fulfill all their needs. Click Hereto learn more about Destination Athlete.
DENVER, September 9, 2024 (Newswire.com)
– Daddy’s Chicken Shack, the fast-casual brand known for its crave-worthy chicken sandwiches and leadership by franchising legend Dave Liniger, Co-Founder of RE/MAX, has announced Noah Pillsbury as the newest Regional Developer (RD) for the Greater Denver area. This strategic appointment comes as Daddy’s Chicken Shack continues to rapidly expand its nationwide footprint, following recent Regional Development Agreements announced in Houston, Orlando, and New Jersey.
Liniger’s influence in franchising is undeniable. His legacy includes global behemoth RE/MAX, with operations spanning more than 110 countries and territories and nearly 9,000 offices globally. His visionary leadership through Denver-based Area 15 Ventures continues to fuel brands that include Daddy’s Chicken Shack, Port of Subs, Lifespot, and DNA Vibe.
“The opportunity to expand Daddy’s Chicken Shack with someone of Noah’s caliber in our home market is a major step forward for our brand,” said Dave Liniger Jr., CEO of Daddy’s Chicken Shack. “Noah’s expertise in franchise and real estate development, coupled with his deep connections in Denver, make him the perfect leader to accelerate our growth. We’re confident his leadership will elevate our brand’s presence in this key market.”
Pillsbury brings a proven track record of success in franchise development, construction, and real estate, uniquely positioning him to lead the Denver territory’s expansion. His hands-on approach will focus on identifying prime site locations, cultivating relationships with potential franchisees, and providing essential coaching to ensure operational success.
“Denver is not just another market; it’s where we’ll set the tone for the brand’s future,” said Pillsbury. “We have an ambitious plan for 33 new stores over the next seven years, starting with our first location in early 2025. I’m eager to build on the strong foundation laid by Dave Liniger and help take Daddy’s Chicken Shack to the next level.” Pillsbury’s background includes scaling a commercial reconstruction company from the ground up to $23.3 million in production within seven years, showcasing his ability to drive dynamic, large-scale growth initiatives.
Franchise Opportunities in Denver and Beyond The demand for Daddy’s Chicken Shack continues to rise and franchising opportunities further expand as the brand offers developers a unique opportunity to grow from the ground up in a number of markets across the country. Pillsbury’s leadership will pave the way for substantial development in the metro-Denver area, with plans to bring the renowned chicken sandwich brand to life through strategic and supported franchising.
For entrepreneurs interested in joining this era of growth, Daddy’s Chicken Shack is actively seeking franchise partners nationwide. “The Denver market is just the beginning,” said Todd Haavind, Vice President of Franchise Development at Daddy’s Chicken Shack. “Noah’s leadership here demonstrates the potential for growth in key markets. We are excited about the national development and franchising opportunities currently available.” For more information about franchising in Pillsbury’s region, visit the Denver West Colorado franchise page here or explore nationwide opportunities here.
About Daddy’s Chicken Shack Daddy’s Chicken Shack was founded in 2018 with a mission to serve high-quality, Southern-inspired comfort food with a modern twist. Known for its signature chicken sandwiches and a welcoming atmosphere, Daddy’s Chicken Shack offers franchise opportunities across the nation. For information about franchising opportunities, visit https://franchising.daddyschickenshack.com.
Opinions expressed by Entrepreneur contributors are their own.
The five weeks between the Republican and Democratic conventions could have been a lifetime, as a brand-new Democratic ticket formed in record speed. As always, the International Franchise Association (IFA) is neutral in presidential elections and we will work with whoever is in the White House for the betterment of our model. Just as we were in Milwaukee for the RNC, we were on the ground in Chicago, educating candidates and campaigns about all the good franchising provides, especially for minority-owned businesses.
More highlights from championing franchising with lawmakers in Chicago at the #DNC2024. IFA is proud to work with members across the aisle on policies that support the franchise business model and its 9M employees in the U.S. pic.twitter.com/vexxskHpuK
Like many Americans, the franchise community is interested in learning more about Vice President Harris’ vision and policy priorities, which she characterized in her acceptance speech as an Opportunity Agenda. It is encouraging that one of her early commercials features her time working at McDonald’s. In fact, if elected, Harris, along with her husband Doug Emhoff, will share a common thread with the 1 in 8 Americans who have worked at McDonald’s. To genuinely support the franchise business model, here are five concrete ways Vice President Harris can appeal to the franchise community.
First, Vice President Harris should be a champion for franchising and use every day on the campaign trail to visit franchises and meet their employees in swing states — and everywhere in between. Doing so will unlock franchising as a component of the Opportunity Agenda, including the unique benefits of franchising for all stakeholders involved in the model.
Those stakeholders are substantial — from the nearly 9 million employees who work for America’s 800,000 franchise businesses (and earn higher wages and better benefits than non-franchised employees) to the franchise owners themselves, who are more diverse in race and gender than non-franchises.
Second, Vice President Harris talked at the DNC about working with business and labor. Yet, one of labor’s top priorities has been a joint employer rule that would effectively destroy franchising. A Harris administration that wants to support small business creation must abandon efforts to implement an expanded joint employer rule.
Bipartisan majorities in congress and a federal court have rejected expanding the joint employer test to include reserved and indirect control. Even Democratic supermajorities in the California legislature, and her home-state Governor Gavin Newsom, rejected joint employer liability. This created a pathway to negotiate a bill with organized labor that preserved franchisee equity in their business, and creating predictable increases in the minimum wage.
Third, Vice President Harris should call for pro-small business tax policies, given the expired and expiring provisions of the Tax Cuts & Jobs Act (TCJA). These include extending the qualified business income deduction (QBID), also known as the section 199A deduction, and restoring a pro-growth interest deductibility standard that expired at the end of 2022.
Extending the 199A deduction, along with passing the bipartisan Tax Relief for American Families and Workers Act — which garnered overwhelming bipartisan support in the House this year — would greatly benefit franchise owners. This legislation would increase the amount of interest owners can deduct from their income taxes, offer temporary bonus depreciation for the purchase of equipment and short-lived capital assets and include other pro-business and pro-worker provisions.
These actions would provide small business entrepreneurs with a competitive edge over large corporations and demonstrate that Vice President Harris is committed to addressing the needs of the small business community. She can chart a new path and extend an open hand to the business community by putting the politics aside and commit to extending a policy they have come to rely on. Without action, every business owner in country wakes up on January 1, 2026, facing a tax increase.
Fourth, increase lending limits at the Small Business Association (SBA) and boost access to the 7(a) Working Capital Pilot (WCP) program. During her acceptance speech, Harris pledged to, “provide access to capital for small-business owners and entrepreneurs and founders.” Launched earlier this year, WCP is a line of credit product that features an annual guaranty fee structure that works to offer greater flexibility than a traditional term loan to meet specific business needs.
Accessing capital is increasingly challenging in such a high-interest rate environment. The SBA pitched the concept as a means of breaking down barriers seeking to start their own pathway to entrepreneurship, where the franchise model is poised to continue playing a major role.
Finally, Harris should outline a future for the Federal Trade Commission (FTC) that includes a modernization of the Franchise Rule, a federal regulation solely enforced by the FTC that governs the sale of a franchise. Currently under review by the FTC, the Franchise Rule hasn’t been updated since 2007 — the same year the first iPhone was introduced.
Research published in the Wall Street Journal showed it took more than 20 years of education to understand a Franchise Disclosure Document (FDD), and a federal investigation found many prospective franchisees did not read the disclosures at all. This needs to change, especially during the pre-sale process when a prospective franchisee is deciding whether to invest significant financial resources in a franchise.
A Harris administration would be wise to course-correct the FTC to foster entrepreneurial development in franchising and double-down on the true mission of the FTC — to protect consumers and prospective franchisees. The franchise business model encourages workforce development and small business formulation in local communities, we look forward to working with any administration and any political party toward that important goal.
Matt Haller is the President and CEO of the International Franchise Association (IFA). Greg Flynn is the Founder, Chairman, and CEO of Flynn Group and Flynn Properties, and an IFA Board Member. With 2,700+ Applebee’s, Taco Bells, Paneras, Arby’s, Pizza Huts, Wendy’s and Planet Fitness units generating $4.7+ billion in sales and employing 75,000+ people in 44 states and 3 countries, Flynn Group is the largest franchise operator in the world.
ORADELL, N.J., August 19, 2024 (Newswire.com)
– On July 15th, the ACT organization announced significant changes to its online, digital test, set to take effect in the spring of 2025. These changes include making the Science section optional, offering new testing options, reducing the number of questions and passage lengths, and shortening the overall testing time. Despite these changes, the scoring system remains consistent, with each section reported on a 1-36 scale and the Composite score being the average of English, Math, and Reading.
The new ACT will last two hours and five minutes, not including breaks. Short breaks will occur between each section (English, Math, Reading). The new online test will be available for National Test Dates starting in Spring 2025, with District/School Day testing following in Spring 2026.
April 2025: ACT National Online Only
September 2025: ACT National Paper & International; Updated Composite Score for All ACT Tests
Spring 2026: State & District Spring 2026 Testing
As the nation’s leading tutor and test prep provider, Huntington Learning Center is uniquely positioned to help students navigate these changes and achieve their highest potential scores. For nearly five decades, Huntington has been dedicated to providing personalized, results-driven tutoring and test prep services to over a million students. Our mission is to give every student the best education possible.
Huntington Learning Center offers comprehensive and individualized ACT test prep programs, available in-center, online, and in a combination of both formats, tailored to meet each student’s unique needs. With over 45 years of experience, our programs cover content review, test-taking strategies, and time management, delivered through one-on-one as well as small group tutoring by highly trained tutors. By identifying strengths and weaknesses, we develop customized plans that have led to an average ACT improvement of 5.4 points for our students, who have also received an average of $71,000 in scholarship funds, accommodating their schedules to help them achieve their academic goals.
Higher ACT scores can significantly impact college admissions, often making the difference between simply attending college and getting into a dream school. With the right scores, students may also become eligible for scholarships, enhancing their college applications and standing out among other applicants. As more students apply to college, resulting in lower admission rates across all schools, the importance of strong ACT scores has never been greater. Currently, U.S. college admissions test scores are the lowest they have been in 30 years and have continued to decline each year for the past five years.
Anne Huntington Sharma, President of Huntington Learning Center, said, “In light of recent changes in the test prep landscape — ranging from test-optional policies and the digital SAT to the evolving format of the ACT — students and parents might feel overwhelmed. At Huntington Learning Center, we are dedicated to alleviating these concerns by providing expert guidance and support. Our commitment is to ensure that every student is prepared and confident, equipped with the tools needed to excel on the revised ACT and achieve their highest potential scores. As the landscape of college admissions evolves, we stand ready to help students and their parents navigate these shifts and give every student the best education possible.”
For more information on our test prep programs and how we can help, please visit HuntingtonHelps.com.
About Huntington Learning Center
Huntington Learning Center is the nation’s leading tutoring and test prep provider. We offer customized programs in person, online, and hybrid options. Our certified teachers provide individualized instruction in phonics, reading, writing, study skills, elementary and middle school math, Algebra through Calculus, Chemistry, and other sciences. It preps for the SAT and ACT, as well as state and standardized exams. Huntington’s programs develop the skills, confidence, and motivation to help students succeed and meet the needs of Common Core State Standards. Huntington is accredited by Middle States Association of Colleges and Schools. Founded in 1977, Huntington’s mission is to give every student the best education possible. Learn how Huntington can help at www.HuntingtonHelps.com and for franchising opportunities, visit www.HuntingtonFranchise.com.
Heman Bekele whipped up the most dangerous of what he called his “potions” when he was just over 7 years old. He’d been conducting his own science experiments for about three years by that point, mixing up whatever he could get his hands on at home and waiting to see if the resulting goo would turn into anything.
“They were just dish soap, laundry detergent, and common household chemicals,” he says today of the ingredients he’d use. “I would hide them under my bed and see what would happen if I left them overnight. There was a lot of mixing together completely at random.”
But soon, things got less random. For Christmas before his 7th birthday, Heman was given a chemistry set that came with a sample of sodium hydroxide. By then, he had been looking up chemical reactions online and learned that aluminum and sodium hydroxide can together produce prodigious amounts of heat. That got him thinking that perhaps he could do the world some good. “I thought that this could be a solution to energy, to making an unlimited supply,” he says. “But I almost started a fire.”
After that, his parents kept a closer eye on him. As it turned out, having adults watching what he does is something that Heman, now 15, would have to get used to. These days, a whole lot of people are paying him a whole lot of attention. Last October, the 3M company and Discovery Education selected Heman, a rising 10th-grader at Woodson High School in Fairfax County, Virginia, as the winner of its Young Scientist Challenge. His prize: $25,000. His accomplishment: inventing a soap that could one day treat and even prevent multiple forms of skin cancer. It may take years before such a product comes to market, but this summer Heman is already spending part of every weekday working in a lab at the Johns Hopkins Bloomberg School of Public Health in Baltimore, hoping to bring his dream to fruition. When school is in session, he’ll be there less often, but will continue to plug away. “I’m really passionate about skin-cancer research,” he says, “whether it’s my own research or what’s happening in the field. It’s absolutely incredible to think that one day my bar of soap will be able to make a direct impact on somebody else’s life. That’s the reason I started this all in the first place.”
It’s that ambition—to say nothing of that selflessness—that has earned Heman recognition as TIME’s Kid of the Year for 2024.
Born in Addis Ababa before emigrating to the U.S. with his family when he was 4, Heman recalls that some of his earliest memories were of seeing laborers working in the blistering sun, usually with no protection for their skin. His parents taught him and his sisters—Hasset, now 16, and Liya, now 7—to cover up, and explained the dangers of too much time outdoors without sunscreen or proper clothing.
“When I was younger, I didn’t think much of it, but when I came to America, I realized what a big problem the sun and ultraviolet radiation is when you’re exposed to it for a long time,” Heman says.
It didn’t take too long for him to start thinking about how he might help. A few years ago, he read about imiquimod, a drug that, among other uses, is approved to fight one form of skin cancer and has shown promise against several more. Typically, imiquimod, which can help destroy tumors and usually comes in the form of a cream, is prescribed as a front-line drug as part of a broader cancer treatment plan, but Heman wondered if it could be made available more easily to people in the earliest stages of the disease. A bar of soap, he reckoned, might be just the delivery system for such a lifesaving drug, not just because it was simple, but because it would be a lot more affordable than the $40,000 it typically costs for skin-cancer treatment.
Photograph by Dina Litovsky for TIME
“What is one thing that is an internationally impactful idea, something that everyone can use, [regardless of] socioeconomic class?” Heman recalls thinking. “Almost everyone uses soap and water for cleaning. So soap would probably be the best option.”
There was a long way to go between inspiration and application, however. Executing on his idea was more complicated than simply mixing the drug into an ordinary bar of soap, since any therapeutic power the imiquimod might confer would just be washed down the drain with the suds. The answer was to combine the soap with a lipid-based nanoparticle that would linger on the skin when the soap was washed away—much the way moisturizer or fragrance can stay behind after the suds are rinsed off.
There was only so much brainstorming Heman could do on his own, however. Then, in 2023, he came across the 3M challenge and submitted a video explaining his idea. Soon, he received an invite to the company’s HQ in St. Paul, Minn., to deliver a pitch in front of a panel of judges. Before that day was out, he’d been named the winner. The $25,000 prize, he knew, would go a long way toward helping him afford to pursue his research, but he’d still need a professional lab in which to conduct the work. That opportunity arrived in February, when he attended a networking event hosted by the Melanoma Research Alliance, in Washington, D.C. There, he met Vito Rebecca, a molecular biologist and assistant professor at Johns Hopkins in Baltimore.
“I remember reading somewhere something about this young kid who had an idea for a skin-cancer soap,” says Rebecca. “It immediately piqued my interest, because I thought, how cool, him wanting to make it accessible to the whole world. And then, by complete serendipity at this Melanoma Research Alliance meeting, the CEO of the alliance introduced me to Heman. From the first conversation, his passion was evident. When I found out he lived very nearby in Virginia, I told him if he ever wanted to stop by the lab he’d be more than welcome.”
Heman took him up on that idea, and Rebecca agreed to sponsor Heman, acting as his principal investigator and inviting him to work at the Baltimore lab, toggling between benchwork and schoolwork back in Fairfax.
Heman Bekele photographed at Johns Hopkins Bloomberg School of Public Health in Baltimore on July 11Dina Litovsky for TIME
For close to half a year now, Heman and Rebecca have been running basic research on mice, injecting the animals with strains of skin cancer and preparing to apply the lipid-bound, imiquimod-infused soap and see what the results are. And though they’re getting ready to test it and a control against melanoma, Heman knows “there’s still a long way to go”—not just testing the soap, but also patenting it and getting FDA certification, which can take a decade altogether.
It is a measure of Heman’s enormous head start that when that decade passes, he will still be only 25 years old—the age at which medical students have not even completed their postgrad education. He’s making good use of that time. In addition to working on his idea, he’s promoting it. In June, he delivered a presentation before 8,000 people at Boston’s Tsongas Center, during a meeting of the National Academy of Future Physicians and Medical Scientists. “That was nerve-racking,” he says, “but it was fun.”
Heman has fun in more conventional ways too. He’s part of the Woodson High School marching band, on both flute and trombone. He plays basketball, reads voraciously (especially fantasy, though he recently reread The Great Gatsby, which he describes as “a pretty good read”), and considers chess “a turn-my-brain-off-and-play kind of thing.”
He credits his family, particularly his parents, for setting the stage for his achievements. His mother Muluemebet is a teacher; his father Wondwossen is a human-resources specialist for the U.S. Agency for International Development. The example of their sacrifice, coming to an unfamiliar country in service of their children’s education, has imbued him with a love of learning and a commitment to pursuing the improbable—or even the seemingly impossible. Nor are his parents and Rebecca the only adults stewarding him on his long scientific journey. He is also aided by Deborah Isabelle, his mentor from 3M.
“I got really lucky,” says Isabelle. “Last year was my first year participating as a mentor in the Young Scientist Challenge, and I was paired with Heman. He’s an incredible, passionate, very inspiring young man.”
That doesn’t mean he doesn’t make mistakes—and Isabelle, for one, has been there to catch him when he falls.
“At one point when he was making the soap, things didn’t work the way he expected,” she says. “So I asked him, What didn’t work? What did you do? And we talked about it, and he’s like, ‘Wow, I didn’t exactly follow the directions.’ And so we had a conversation about that, and he was able to go up and figure out some things, and say, ‘OK, this is what I learned from that.’”
That kind of trial and error will, Heman hopes, take him to the day that his health-giving soap can at last be used in early-stage cancers—including so-called cancer Stage 0, when there is just a small growth that has not yet had much effect on the surface of the skin—and then in later stages, when it would be an adjunct to other treatments.
For all of this, Heman remains humble about what he’s accomplished in just 15 years. “Anybody could do what I did,” he says. “I just came up with an idea. I worked towards that idea, and I was able to bring it to life.” But he confesses that he worries too: scientific breakthroughs seem to be coming faster and faster—in medicine, in engineering, in artificial intelligence—and he frets that people may have reached something of a saturation point.
“A lot of people have this mindset that everything’s been done, there’s nothing left for me to do,” he says. “To anybody having that thought, [I’d say] we’ll never run out of ideas in this world. Just keep inventing. Keep thinking of new ways to improve our world and keep making it a better place.”
Opinions expressed by Entrepreneur contributors are their own.
When sales are down in a franchise network, the franchisor tend to be the party chiefly held responsible. It’s a diverse and challenging job — one that includes marketing on two levels: recruiting the right franchisees and then the unit-level marketing for which they will be paying a fee (typically a percentage of their sales), often expecting the moon in return.
Attracting and retaining prospects or customers is everyone’s job in a business, but marketing with a consistent and compelling message really does start at the top. One of the benefits of joining a franchise system, after all, is to be privy to existing and successful branding and outreach, including trade dress, professional signage, website design and advertising templates.
But before we look at what you as a franchisor need to provide to franchisees for local marketing efforts, let’s start with what characterizes a winning recruitment program.
First and foremost, sales materials need to be both compelling and meet compliance rules. Different states have different requirements, so hire a franchise marketing expert as well as legal counsel to ensure you’re both hitting the right notes as well as acting in accordance with both state and federal law.
And even if you’ve been franchising for years, it’s never a bad idea to revisit sales materials to update messaging, check for unified look and feel, re-ensure compliance and take advantage of any new channels. How many franchisors dreamed they’d be considering making TikTok videos even five years ago?
Start with a website that will capture your intended audience’s imagination — one that reflects and burnishes the brand, tells a good story and spells out the specific and unique benefits your franchise offering provides.
It’s also important to leverage a variety of media, including electronic collateral materials, search engine and social media ad campaigns, direct marketing tactics and trade shows and publications. And know your audience so that you’re putting time and effort in the right places.
Since prospects have become used to getting immediate responses, technology will play a big part in ongoing communications with potential buyers, particularly once they become leads. Whether via AI chatbots, texts, email or phone call, find out how candidates like to receive information and interact.
Additionally, have both a plan and a budget. If you don’t have the in-house staff to develop and execute a franchise marketing plan, hire a firm with expertise (and success) in creating and implementing plans for other franchises. This is not the time to just throw ideas at the wall and see what sticks.
Once you have franchisees who have joined your system, it’s your responsibility to support them in promoting and marketing. Word of mouth has traditionally been considered the best form here, but with the takeover of social media, words are coming out of a great many mouths now — and not just your fans’. To ensure you and your franchisees are sending the same message, provide them with sample content, and at least monitor (better yet, directly manage) their online (including social media) presence, as well as overall marketing messaging.
Keeping an eye on all franchisees’ marketing activities may sound daunting, but it’s vital to not leave things to chance. At minimum, approve all content posted on their individual social media accounts or websites/webpages. A better approach, I’ve found, is to provide templates and messaging so that the look and feel of all posts, announcements, promotions and videos are always on-brand. These can be generated using your own staff and/or an outside agency.
Yet another idea is to take a hybrid approach, in which the franchisor manages the overall campaigns, but allows franchisees to do posts for territory-specific events, as long as they get content approved beforehand.
To be sure, this direct-manage approach requires dedication and planning, and may seem to not leave much room for spontaneity. So, make an effort to be responsive when a franchisee wants to advertise or post about something going on in their market.
Another important consideration: When establishing a brand development (or system marketing) fund, do the math to ensure that fees collected from franchisees will be adequate to cover the expenses of creating marketing materials, including staff time. Make plain to them that such fees benefit each local franchise, certainly, but are also used to help fund regional or national campaigns from which the entire system benefits. Lastly, consider having any parent-company-owned stores contribute the same percentage for system marketing as franchisees so there is a sense of equitable participation across the entire network.
There will always be pressure (on new and emerging franchisors in particular) to come up with fresh marketing materials to justify marketing fund contributions. Historically, one of the most common complaints from franchisees is that they expected to receive more support in this area. And some franchisors further require a specific spend by franchisees for their own in-territory marketing, which can be a source of additional consternation. One additional solution may be to blend both of these fees into a combined percentage, especially if an outside agency is being used to manage campaigns.
But no matter how you architect your marketing funds and programs, transparency is key. Provide regular accounting/reporting on how funds are being used, including efforts towards social media growth and ad reach, and have proof ready as to how campaigns are working.
Transworld Business Advisorsoffers a franchise opportunity in business brokerage, franchise consulting, and franchise development services, with over 40 years of experience and a global network. This franchise provides comprehensive support and a proven business model in a consistently needed industry. Click Here to learn more about Transworld Business Advisors.
Access to a proven business model with a global network and mass purchasing benefits.
Comprehensive training and ongoing support, including demographic studies and marketing strategies.
Diversified revenue streams from a variety of marketing tools and branded products.
Fully Promoted is a franchise specializing in branded products and marketing services, renowned as the largest company in its niche and recognized repeatedly in Entrepreneur’s Franchise 500 rankings. Click Here to learn more about Fully Promoted.
As the inflation-triggered competition for value between big brands heats up, nostalgia for fast-food restaurants — and their affordable prices — is high. One X account takes us back to a simpler time of extreme color schemes, flamboyant designs and low prices.
The nostalgic pics include a Burger King that was found “fully intact” behind a wall at a long-closed shopping mall in Wilmington, Delaware, in 2022.
A fully intact vintage Burger King was found behind a wall at the Concord Mall in Wilmington, DE. This photo was snapped by Jonathon Pruitt April of 2022. pic.twitter.com/pzfMnpjo4h
— Jack-of-all-trades (@Upliftingvision) July 11, 2024
One highlight is the circa 1970s-’80s Taco Bell menu, which explains in great detail what a taco and a burrito are, complete with a sound-it-out, phonetic pronunciation of each food — “Tah-co” and “Buh-ree-toh.”
The menu is from when the brand called its Pintos and Cheese refried beans by a different name — Frijoles (Fre-ho-les) and still served the now-extinct Enchirito, which made a brief comeback last year.
Enchirito, tostada, and the combo burrito were all fire and all are gone now. I rarely go to TB anymore but when they brought back the enchirito in ’22 for a limited time, I bought an enchirito (or two, lol) at least twice a week. It wasn’t the same but it was still good! pic.twitter.com/OFabl2YuuR
— ??? ?????? ?????? ? (@YouFlthyAnimal) July 11, 2024
Then, there are the prices. One retro Taco Bell menu from 1984 shows how inexpensive it used to be to eat fast food. The prices for drinks — $.45 for a small Pepsi compared to $2.29 today for the same beverage — are immediately noticeable. But it’s the Combo Burrito Meal for $1.19 that really stands out. Taco Bell’s least expensive combo is the value-inspired temporary $5.99 combo, with prices for combo meals rising from there to the $11.29 price point for the 2 Chicken Chalupa Supreme Combo.
Opinions expressed by Entrepreneur contributors are their own.
In a professional landscape that places increasing value on gig work and side hustles, it’s important to make sure that we are evaluating new ventures carefully before diving in. After all, there are only so many hours in a day, and entrepreneurs in particular must ensure their time is allocated efficiently.
From a business model perspective, franchising offers a middle ground between the stability of a corporate job and the uncertainty of a true startup business. Franchises provide a blueprint to new franchisees that detail proof of concept and profitability. It’s no wonder many professionals looking to transition out of a corporate role and into business ownership consider franchising as a viable option.
As a franchise consultant, I’ve observed first-hand the value a corporate background can have when applied to franchise ownership. These aspiring entrepreneurs are hard-working, motivated, decisive and have strong leadership skills (among many other traits). The trick is knowing when to make the jump.
I am often asked whether franchising is something that can be done on the side while continuing to work at a full-time corporate position. The answer? Ultimately, it depends on your circumstances.
The largest issue that places franchising at odds with maintaining a traditional 9 to 5 is the lack of flexibility. There’s no way around it — owning a business requires attention during the business day. Even if you have a manager running it for you, oversight and the ability to be present at a moment’s notice are vital. This means time and focus that is entirely separate from your day job. Only you truly know how time is spent daily in your current position.
Imagine a typical workday. You’re in the middle of a task and you get a notification that a pipe has burst in your franchise storefront. Are you able to get up immediately and attend to this urgent matter? If not, you may need to reconsider whether you truly have the flexibility to maintain both a franchise and your corporate job.
2. How much upfront capital investment you can make
Typically, side hustles may not require upfront capital (or may require minimal start-up costs). However, they do often require a great deal of time and work upfront (hence side “hustle”) before they create a semi-passive income. Consider internet businesses or affiliate websites that are entirely conducted online and do not require real estate, overhead costs or additional employees. This is not realistic for franchise ownership.
Because being awarded a franchise means that you have access to business materials, marketing plans, hiring assistance and many other resources that bypass common headaches and wasted time and money on the traditional startup path, you have a leg up from day one. And while this is a major selling point for many who are motivated to own a business, it does add to the initial investment cost.
There are many different franchise concepts and, subsequently, vastly different investment costs. However, as a rule of thumb, even the minimum capital investment for a franchise is going to be approaching $100,000 (the franchise fee alone is often between $50,000 to $60,000).
*Note: According to the U.S. Small Business Administration website, the franchise fee is described as “the cost of entry. Paying the upfront franchise fee unlocks the door to the franchisors’ proprietary business systems and more. You get the complete setup. The franchise fee is literally a license to own and operate the franchise business.”
3. How much oversight you can provide
Working hand-in-hand with flexibility, it’s important to understand that franchising — or owning any business — is never truly absentee. Even if you hire a manager to run day-to-day operations, you are responsible for oversight. Furthermore, you must be able to step in at a moment’s notice if your general manager leaves or is unable to perform their role.
Since most franchises are local and regional brands that fall under the category of everyday essential services, they require local representatives and will therefore have employees. Due to the nature of managing employees, it’s difficult to maneuver employee management into a side hustle.
At the end of the day, much of this question comes down to the control you have over your daily schedule. If your current job allows for flexibility in the middle of a workday (possibly if you work in real estate, sales or perform remote work and have flexible deadlines), then franchising can often work as a side hustle.
Additionally, if you have a large amount of financial capital to work with, then you will be able to hire employees and managers who can offset the workload. Enough capital can solve almost any time-related problem. However, as noted above, this is not a catch-all solution. You will likely have to invest more time to get the franchise up and rolling. Over time, developing a hierarchy of employees and managers can minimize your time commitment.
We all know that when making any major career change, it’s important to perform due diligence and ensure that you are making the most well-informed decision possible. If you are considering franchise ownership as a side hustle, I encourage you to carefully consider your lifestyle and decide if you can realistically operate a franchise on the side, or whether you fall into the larger category of owners who must commit more time to this endeavor.
As fast-food consumers continue to prioritize — and sometimes demand — value, Sonic has joined competitors like McDonald’s, Taco Bell and Wendy’s in introducing a new value menu. However, while these brands’ value deals are for a limited time only — McDonald’s $5 Meal Deal, for example, expires in late July — Sonic’s menu has no end in sight.
“It’s a value menu that’s here to stay rather than a temporary reaction to consumer complaints,” a Sonic spokesperson told Entrepreneur.
Sonic’s new $1.99 menu — which the brand is calling the FUN.99 Menu — features a variety of items, including two new Bacon Ranch and Southwest Crunch Queso Wraps.
Other FUN.99 items include a Quarter Pound Double Cheeseburger, Chili Cheese Coney, Small Tots and 16-ounce Sonic Shakes.
In addition to McDonald’s and Wendy’s, others in the industry, including Burger King, Taco Bell and KFC, have launched value deals, primarily focused on the $5 price point, for a limited time.
For example, Burger King recently launched its $5 Your Way Meal, which includes a Whopper Jr., Chicken Jr. or Bacon Cheeseburger with four-piece chicken nuggets, fries and a drink. This deal is available through the summer.
Additionally, the KFC $4.99 Meal For One, which includes two pieces of dark meat chicken, mashed potatoes with gravy and a biscuit, is available through the end of the year.
In addition to their respective value deals, McDonald’s and Wendy’s offer ways for customers to get free orders of their signature items — fries and Frosties. McDonald’s offers free medium french fries with any $1 purchase via the mobile app every Friday through the end of 2024. On Saturday, July 13, in honor of National French Fry Day, customers can get free fries of any size when ordered via the McDonald’s app, with no purchase necessary.
Wendy’s customers can get a free small Frosty with a $5 Biggie Bag via the Wendy’s app. Purchasing a $3 Frosty key tag gets customers a free Jr. Frosty with any purchase for the remainder of 2024. Proceeds benefit the Dave Thomas Foundation for Adoption.
Opinions expressed by Entrepreneur contributors are their own.
One of the great truisms in the retail and restaurant businesses is that it’s all about “location, location, location.” You can fix bad systems, bad management and bad staff, but fixing a bad site is a challenge most companies should avoid at all costs.
A bad location may save money on rent in the short term, but it will cost you more over time. The best form of marketing for any restaurant or retail store is its location. A good site also gives you two chances to make serious money — while you’re operating the business, and then when you want to sell the business. Don’t forget, a lease is a contract. If, for some reason, your business doesn’t succeed, you can’t walk away from the lease. You must keep paying for that shuttered store or restaurant until you negotiate an exit.
That’s one of the benefits of franchising — the franchisee owns and runs the business but has access to the real estate expertise and discipline of a much larger company, reducing time and risk.
Let’s imagine you want to open a hamburger restaurant. If you go it alone, you’d have to know site availabilities — are there any existing restaurants for rent or sale that fit your criteria? Finding those can entail subscribing to pricey real estate databases, and those databases won’t tell you why a space is available: owner retirement, changing demographics, or a poor operator.
Driving around the market won’t give you the most important information, either. Shopping center managers track their tenants carefully, know who on the rent roll is struggling (late payments, requests for relief) and already have a plan for when that lease is up.By the time you see a “For Lease” sign, it has already been picked over by the insiders — and they’ve passed on it.
Location demographics are crucial; you need to know where your target customers live or work and how far they are willing to travel for what you sell. Demographic reports also show how much people spend on categories such as restaurants, beauty, and pets. If you are opening a pet brand in a new market, you want to know where the highest concentration of your target customers is. Additionally, consider co-tenancies— what neighbors complement your offerings? Coffee and healthy foods often do well if they’re located near a gym or spa.
Market rents are another factor; the asking rents on listings could be real or wishful thinking on the part of the landlord. You need to compare that number to other nearby locations since factors like which side of a street gets afternoon sun can change the rent per square foot significantly. You also need to gauge how motivated the landlord is to negotiate. Do they need to get someone in quickly, or will they wait for the number they want? Zoning is important as well. Can the site accommodate the drive-through you need to succeed? Are there radius restrictions because the site is near a school? Will you need some easements? Finally, competition is a critical consideration. You might find the perfect building in the perfect neighborhood at the perfect price, but this could be undermined if your main competitor is just down the street.
One of the smartest forms of analysis is supply and demand in a market. A case in point is Times Square NYC, where everyone misfires. The area is so dense that restaurants pay five times more rent for that trophy site, only to see low sales. Why? Because of all the other restaurants in the area. Even weak competitors will still take some customers.
The easy solution is to work with a local real estate expert. But there are challenges, there, too — how do you find one? You can look up local brokers and contact them , but how many do you want to interview? Do you want to meet with someone relatively new to the business who will really want to help you, or a veteran broker who has a lot of market knowledge — but probably a lot of deals in the pipeline?
It’s important to remember that brokers are only paid when a deal is done. The industry pays 6% in commissions on the lease term. For example, an annual rent of $100,000 on a 10-year lease results in $1 million in gross rents paid to the landlord. The landlord pays out 6% of this, half to the listing rep and half to the tenant rep — $30,000 to each side. That’s significant money, and one reason why most tenant reps don’t like doing penetration plans. A really objective penetration plan tells you where you should go. But if there are no vacancies in that area, there’s no lease and they don’t get paid.
And what do you do when it’s time to invest in your second, third and 10th locations? Don’t forget, you’re investing your profits from your first location into more and so on, to build wealth.
the good news is, you don’t have to do this yourself. A franchisor has this expertise, and franchisees are paying for site selection and lease negotiations assistance. The franchisor knows what locations work, have relationships with brokers nationwide to help you negotiate and will help you avoid an oversaturated market. They won’t sell you a territory if it doesn’t need more units. That’s because for franchisors, a lease is an asset. (In fact, franchisors’ primary two assets are franchise agreements and franchisee leases.) They make sure they have the rights to sell a business including the proper assignability and transfer language.
The important thing to remember is that real estate is its own business for a reason, requiring market-specific knowledge and relationships. Franchisors have that knowedge and relationships and are eager to help.
The home improvement industry is thriving as people opt to renovate rather than relocate due to soaring real estate costs. As a result, the demand for professional services remains high—and that includes home improvement franchises.
From creating an open-concept kitchen perfect for entertaining or transforming a dated bathroom into a luxurious spa retreat, home improvement franchises provide expertise in design, construction and project management. For potential franchisees, the industry presents a pathway to business ownership, offering the chance to tap into established business models, proven processes and recognizable brand names.
Whether you’re a seasoned contractor looking to expand your reach or someone with a keen eye for design seeking to turn your passion into a profitable venture, explore the top 15 home improvement franchises, according to the 2024 Franchise 500 Ranking.
Budget Blinds, established in 1992, has become a leading franchise in North America for window coverings, offering custom blinds, shutters, shades and draperies for both residential and commercial clients. With more than 30 years of experience, extensive training and ongoing support, starting a Budget Blinds franchise is an ideal opportunity for entrepreneurs seeking a proven business model in the booming home improvement industry. Franchisees benefit from a strong brand reputation, access to top-quality products and innovative technology that streamlines operations and enhances customer experience.
Kitchen Tune-Up, established in 1986 and franchising since 1988, offers affordable kitchen and bathroom updates through its nearly 300 locations across the U.S. Specializing in cabinetry and kitchen renovations for both residential and commercial properties, they cater to various remodeling needs. Owning a Kitchen Tune-Up franchise allows individuals to transform living spaces while benefiting from the support and resources of an established brand.
Founded in 1985, USA Insulation is a pioneer in franchised retrofit insulation services in the U.S., offering high-quality residential insulation that can save homeowners thousands of dollars over time. Differentiated by its patented premium foam insulation, the company can reach tight spaces that conventional materials cannot. With over 35 years of industry expertise, USA Insulation treats franchisees like family, providing comprehensive training and support to help them grow their businesses.
Floor Coverings International revolutionizes the flooring industry by bringing the showroom experience directly to customers’ homes. The brand offers specialized services, carving out a unique niche and fulfilling the rising demand for custom flooring solutions. Franchisees benefit from a supportive and proven business model, offering low investment costs and opportunities for growth within the dynamic and creative realm of home remodeling.
Koala Insulation is a franchise specializing in residential and commercial insulation services. It offers solutions for new construction, retrofitting and properties affected by natural disasters. Founded in Melbourne, Georgia, in 2018, the company has rapidly expanded to more than 375 locations across the U.S. If you’re seeking a franchise with a solid business model and values such as technical superiority, trust and accountability, Koala Insulation offers an ideal platform for entrepreneurial success.
Parent company: Miracle Method of the United States
Miracle Method Surface Refinishing specializes in revitalizing ceramic tiles, bathtubs, sinks, countertops and similar surfaces. Established in 1977 by founder Bob Gray, the company now has over 170 locations and plans for further expansion to meet ongoing demand. Franchisees are responsible for delivering refinishing services to both residential and commercial properties, including hospitals and schools. Starting a Miracle Method Surface Refinishing franchise offers unparalleled support, including site selection, marketing, business management and connections to architects, interior designers and vendors. Additionally, franchisees benefit from readily available assistance from Miracle Method Surface Refinishing representatives.
Leadership: Adam Biedenbender, VP of Franchise Business Development
Parent company: FirstService Brands
Founded in 1989 by Jay S. Hennick, FirstService began as a swimming pool management company before evolving into FirstService Brands, which introduced residential service franchises like CertaPro Painters in 1992. CertaPro Painters offers interior and exterior painting services across the U.S. and Canada, with more than 350 franchised locations throughout North America. Franchisees benefit from local business opportunities backed by the resources of a national chain, while CertaPro Painters maintains a commitment to quality and customer satisfaction.
Superior Fence & Rail prioritizes superior service and durable products, maintaining a strong focus on customer satisfaction and professionalism. With more than 80 franchises nationwide, the company offers a diverse range of materials and styles tailored to individual preferences. Starting a Superior Fence & Rail franchise provides access to established systems, offering a smooth entry into the competitive industry. Prospective franchisees must uphold the brand’s values, lead their teams effectively and maintain positivity to succeed in this dynamic market.
ProSource Wholesale, founded in 1990 and franchising since 1991, connects trade professionals with affordable home improvement products. With nearly 150 franchises across North America, the company offers a unique pricing system and extensive support to franchisees. Managed by industry leaders, ProSource Wholesale provides ongoing assistance in recruitment, merchandising, technology and business services. For entrepreneurs seeking a supportive franchisor deeply invested in their success, ProSource Wholesale may be the right choice.
Founded in 1982 and franchising since 1998, Closets By Design specializes in crafting custom storage solutions such as closets, home offices and garage cabinets. With more than 75 franchises, the company operates under the Home Organizers umbrella. Starting a Closets By Design franchise offers the opportunity to deliver quality solutions with the assurance of a well-established brand identity. A proven business model ensures an ample customer base and operational efficiency for franchisees.
Re-Bath, founded in 1978 by Kurt Kittleson, is a premier bathroom remodeling franchise known for its efficiency and quality. With more than 120 franchises across the U.S., Re-Bath offers customers quick renovations, completing projects within a week. Starting a Re-Bath franchise is ideal for individuals passionate about home improvement who possess a strong work ethic and attention to detail. With its extensive industry experience, Re-Bath provides a reliable business model for franchisees seeking success in the bathroom remodeling sector.
Since 2000, ShelfGenie has offered customized shelving and cabinet solutions for homes across the country. With more than 275 locations, ShelfGenie specializes in durable, affordable and elegant pull-out shelving designs tailored to individual client needs. Franchisees benefit from a streamlined business model, with centralized support handling manufacturing, measurements, installation and client communication.
Mighty Dog Roofing delivers top-notch roofing repair and replacement services to customers. Their skilled team offers expertise not only in roofing but also in gutters, siding and windows, catering to various styles and budgets. As a franchisee, you’ll have the opportunity to join a reputable brand with a proven track record in the home improvement industry.
Gotcha Covered specializes in custom indoor window treatments for residential and commercial properties, offering a variety of blinds, shutters and draperies. As a Gotcha Covered franchisee, you’ll enjoy the flexibility of running your own business, starting from a home-based setup and expanding to a retail shop when ready. With or without prior business experience, individuals passionate about serving customers and transforming market demand into business opportunities can thrive within the Gotcha Covered family.
Outdoor Lighting Perspectives, formerly known as Lightscapes, has been a leading provider of outdoor lighting solutions since 1995, expanding its franchise network since 1998. With more than 125 locations, the franchise is a prominent player in the outdoor lighting industry. Outdoor Lighting Perspectives delivers custom lighting designs tailored to each client’s preferences and style, utilizing LED technology and high-quality fixtures for lasting results.
DALLAS, May 2, 2024 (Newswire.com)
– RAVE Restaurant Group, Inc. (NASDAQ: RAVE) today reported financial results for the third quarter of fiscal 2024 endedMarch24, 2024.
Third Quarter Highlights:
The Company recorded net income of $0.7 million for the third quarter of fiscal 2024 compared to net income of $0.3 million for the same period of the prior year.
Income before taxes increased 95.2% to $0.9 million for the third quarter of fiscal 2024 compared to the same period of the prior year.
Total revenue remained stable at $3.0 million for the third quarter of fiscal 2024 compared to the same period of the prior year.
Adjusted EBITDA increased by $0.2 million to $0.8 million for the third quarter of fiscal 2024 compared to the same period of the prior year.
On a fully diluted basis, net income increased by $0.02 to $0.04 per share for the third quarter of fiscal 2024 compared to the same period of the prior year.
Pizza Inn domestic comparable store retail sales decreased slightly by 1.9% in the third quarter of fiscal 2024 compared to the same period of the prior year. In the prior year third quarter, comparable store sales were up 15.6% from the third quarter of 2022.
Pie Five domestic comparable store retail sales decreased 6.4% in the third quarter of fiscal 2024 compared to the same period of the prior year. In the prior year third quarter, comparable store sales were up 8.4% from the third quarter of 2022.
Cash and cash equivalents were $6.3 million on March 24, 2024.
Pizza Inn domestic unit count finished at 104.
Pizza Inn international unit count finished at 21.
Pie Five domestic unit count finished at 23.
“Following a strong first half of the year, we’ve hit our 16th consecutive quarter of profitability with steady same-store sales at both Pizza Inn and Pie Five in Q3,” said Brandon Solano, Chief Executive Officer of RAVE Restaurant Group, Inc. “This fiscal quarter, we restructured our executive team with some of the industry’s most well-respected and results-driving talent, further elevating the caliber of our overall team, while at the same time realizing significant savings in employee-related expenses.”
“We are proud of our Q3 performance over the past three years. Over the past two years, same-store sales have increased by 13.7% at Pizza Inn and by 1.7% at Pie Five, and in the last three years, Q3 same-store sales grew 36.5% and 23.1% at Pizza Inn and Pie Five, respectively. We are pleased to report growth in RAVE’s total overall Q3 sales, profit and net income as compared to the same period last year,” Solano continued. “Through the first three quarters of the current fiscal year, we have matched the $1.6 million in net income that the company delivered in all four quarters combined in the prior fiscal year. This is a testament to the dedication of our team and the effectiveness of our financial strategies, positioning us for sustained growth and shareholder value.”
On reimaging, Solano noted, “We are steadfast in our commitment to continue expanding our reimaging and marketing programs. As of the end of quarter three, we have 12 Pizza Inn restaurants set to begin the reimage process, in addition to the five sites that are already in progress or completed. This program embodies our determination to invest in our long-term success, as we expect to see double-digit same-store sales increases once completed.”
Newly hired Chief Financial Officer Jay Rooney added, “I am very excited and feel fortunate to join the incredible RAVE team at this time when we are focused on right-sizing expenses to grow the bottom line. To generate over $1 million in operating cash this quarter was truly impressive. Equally exciting is the company’s commitment to revitalizing and growing sales through reimaging existing restaurants and opening new franchised restaurants. The middle of the P&L is solid and the top line has tremendous growth potential.”
Non-GAAP Financial Measures
The Company’s financial statements are prepared in accordance with United States generally accepted accounting principles (“GAAP”). However, the Company also presents and discusses certain non-GAAP financial measures that it believes are useful to investors as measures of operating performance. Management may also use such non-GAAP financial measures in evaluating the effectiveness of business strategies and for planning and budgeting purposes. However, these non-GAAP financial measures should not be viewed as an alternative or substitute for its financial statements prepared in accordance with generally accepted accounting principles.
The Company considers EBITDA and Adjusted EBITDA to be important supplemental measures of operating performance that are commonly used by securities analysts, investors and other parties interested in our industry. The Company believes that EBITDA is helpful to investors in evaluating its results of operations without the impact of expenses affected by financing methods, accounting methods and the tax environment. The Company believes that Adjusted EBITDA provides additional useful information to investors by excluding non-operational or non-recurring expenses to provide a measure of operating performance that is more comparable from period to period. Management also uses these non-GAAP financial measures for evaluating operating performance, assessing the effectiveness of business strategies, projecting future capital needs, budgeting and other planning purposes.
“EBITDA” represents earnings before interest, taxes, depreciation and amortization. “Adjusted EBITDA” represents earnings before interest, taxes, depreciation and amortization, stock compensation expense, severance, gain/loss on sale of assets, costs related to impairment and other lease charges, franchise default and closed store revenue/expense, and closed and non-operating store costs. A reconciliation of these non-GAAP financial measures to net income is included with the accompanying financial statements.
Note Regarding Forward-Looking Statements
Certain statements in this press release, other than historical information, may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created thereby. These forward-looking statements are based on current expectations that involve numerous risks, uncertainties and assumptions. Assumptions relating to these forward-looking statements involve judgments with respect to, among other things, the effectiveness of our cost-cutting measures, the timing to complete as well as the continued returns on our reimaging initiatives, the strength of our development pipeline, as well as future economic, competitive and market conditions, regulatory framework and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of RAVE Restaurant Group, Inc. Although the assumptions underlying these forward-looking statements are believed to be reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that any forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of such information should not be regarded as a representation that the objectives and plans of RAVE Restaurant Group, Inc. will be achieved.
Opinions expressed by Entrepreneur contributors are their own.
Not every business can be franchised, nor should it. As the founder and operator of an exciting, new concept, it’s hard not to envision opening a unit on every corner and becoming the next franchise millionaire. It’s a common dream. At one time, numerous concepts were claiming to be the next “McDonald’s” of their industry.
And while franchising can be the right growth vehicle for someone with an established brand and proven concept that’s ripe for growth, there are other options available for business owners who want to expand their concept into prime locations before their competition does but who don’t want to go it alone for a number of reasons. For instance, they may not have the resources or cash reserves to finance a franchise program (it is important to note that while franchising a business does leverage the time and capital of others to open additional units, establishing a franchise system is certainly not a no-cost endeavor). Or they don’t want the responsibilities and relationship of being a franchisor and would rather concentrate on running their core business, not a franchise system.
But when you have eager customers asking to open a branded location just like yours in their neighborhood, it’s hard to resist. You might think: What if I don’t jump on the deal, and I miss out on an opportunity that might not come around again?
Licensing your intellectual property, such as your name, trademarks and trade dress, in exchange for a set fee or percentage of sales is one way to accomplish this without having to go the somewhat more laborious and legally controlled franchise route. Types of licensing agreements range from granting a license to allow another entity to manufacture or make your products to allowing someone to use your logo and name for their own business. Unlike in a franchise, your partner in a licensing situation will only be allowed certain predetermined rights to sell your products and services, not an all-in agreement to give them a turnkey business, accompanied by training and support, in exchange for set fees. A licensing agreement spells out each party’s rights, responsibilities, and what they can and cannot do under the terms of the agreement. Having a lawyer draw up the paperwork is vital, as well as consulting with a trusted business advisor who has helped others along this path and can shorten your learning curve while protecting your rights. License agreements are governed by contract law as opposed to franchise laws. However, care must be taken: To ensure that you’re staying in your lane and not crossing over into franchisor territory, you’ll want your advisers to detail what you can and can’t do as a licensor.
For instance, a license agreement excludes you from being involved in the day-to-day operations of the licensee’s business. While having no oversight may sound like a relief, it can be a double-edged sword, especially for people who are used to controlling all aspects of their products or services. You won’t have to provide licensees with ongoing services, such as marketing materials and continuous training, but it also means you have no control over how they run their business, their product mix or even how they decorate their space. If you’re a type-A, this may be hard for you.
Most people are more familiar with trademark licensing with a third party because these agreements are big in the sports and entertainment industries, where a celebrity lends their name to endorse a product, whether it’s branded athletic wear or trendy foodservice menu items such as pizza, chicken, or even gelato.
Using a celebrity’s cache garners media attention you might otherwise never get. But not everyone who comes up with a great concept or product has the recognition that would allow them to attract famous business partners or endorsements, and rabid fans that follow.
There are other methods of getting your products in front of more consumers. Some coffee concepts, including Caribou for example, have created market saturation by both franchising traditional stores and granting licenses for nontraditional locations, such as airports, big-box stores, and college campuses. Others, on the other hand, like Starbucks, employ a combination of company-owned stores and licensees in high-traffic locations where a small kiosk can service a high-density population of shoppers. And, of course, bags and pods of these brands’ coffee blends are also sold in retail locations such as grocery stores.
But again, here’s that cautionary note: If you go the licensing route for your products or services, be careful not to cross over into trying to direct the way that licensees do their business, from selecting locations to training employees.
While licensing or franchising may be valid business growth vehicles for many brands, additional business structures that can be considered include:
Company-owned stores: Opening corporate locations using bank loans and/or the profits from already opened units.
Dealerships or distributorships: In a distributor relationship, products are purchased from a manufacturer and then sold through local dealers.
Agency relationships: These are similar to the relationships you’d have with dealers, but in this case, an agent or representative of your company sells your services to a third party. The important distinction to remember so that the relationship doesn’t cross over into franchise territory is that you, as the provider of the services, pay the agent (as an independent sales rep) rather than the agent collecting the money and paying you.
Joint ventures: In this case, you, as the concept owner, would take on an operating partner who also invests his own funds in the business. The two of you would then share in the equity and profits at the percentage rate of your investment.
The appropriate method to grow your business depends on several factors, including your type of concept, service, or products; your risk aversion factor; your access to capital; where you’re located; and current market conditions. So, if you choose another option to franchising, be cognizant of not slipping into becoming a franchise. The Federal Trade Commission’s regulations define a franchise as meeting at least three standards: a shared name, fees and royalty payments paid to the company by the franchisee, and ongoing support and control of the day-to-day operations by the franchisor.
Keep in mind that if you start with one expansion method, you can consider changing that structure with legal and professional guidance should your business needs merit a shift in strategy. Case in point: some licensors will eventually convert licensees to franchises under a newly crafted agreement and program if they see the need to change the fee structure and maintain additional control over operations.
Slow growth can be detrimental to a business, but not picking the right vehicle for that growth can be worse than standing still. That’s why doing your homework — consulting with professionals, such as attorneys, accounting and franchising advisors, and talking to others in the same boat as you will save you from drifting too far from shore.
Chris and Andy talk about the news that Apple TV will be making a For All Mankind spinoff called Star City, and adapting another one of Mick Herron’s novels (author of Slow Horses) for a show starring Emma Thompson (1:00). Then, they talk about an article in Harper’s that looks at the role private equity firms have played in the TV industry over the past decade (13:38), before discussing the penultimate episode of Shogun (29:07) and Episodes 4 and 5 of Ripley (59:09).
Renowned Multi-Brand Portfolio Group Adds New Leaders to Continue Company’s Strong Performance
DALLAS, March 26, 2024 (Newswire.com)
– RAVE Restaurant Group [NASDAQ: RAVE] today announced a strategic reshaping of its executive team. These appointments represent a significant upgrade to the leadership team, signaling investors and franchisees alike that the company is focused on the continued expansion and development of its Pizza Inn and Pie Five Pizza brands.
These new executives include:
Jay Rooney, Chief Financial Officer
Zack Viljoen, Vice President of Operations for RAVE and General Manager of Pie Five
Denise Wilson, Associate Vice President of Supply Chain
Carlos Cojulun, Marketing Director of Pizza Inn
Roger Mangum, Director of Operations and Training
Liam Finn, Director of Franchise Development
Leading this transformation is the appointment of Jay Rooney as Chief Financial Officer. With a proven track record of steering organizations toward financial excellence, Rooney brings invaluable expertise to RAVE, elevating the company’s financial strategies and governance to new levels. Rooney joins from Dickey’s Barbecue Pit, where he’s been CFO since 2018. Before that, he held financial leadership positions at Brinker International for nearly 20 years.
“I’m truly honored and excited to take on this new role with such an established company,” said Rooney. “Along with my new colleagues, I’m looking forward to helping create further growth and expansion for years to come.”
These new appointments come at a time when RAVE is experiencing strong growth. At the start of the year, the company recorded its 15th consecutive quarter of profitability, with same-store sales growth at both Pizza Inn and Pie Five. In 2023, the calendar year results outshone competitors including Pizza Hut, Papa John’s, Domino’s and Chipotle. Additionally, after 24 years of decline, Pizza Inn has had consecutive years of net buffet unit growth.
Both new and existing team members are joining Rooney in the executive lineup, including Zack Viljoen, who was named Vice President of Operations for RAVE and General Manager of the Pie Five brand. Viljoen takes on full responsibility for marketing and operations, training operations and compliance, as well as driving scale reimagining for Pizza Inn buffets. Previously, Viljoen was Senior Director of Marketing and Strategy, overseeing all growth initiatives and leading strategy developments.
Denise Wilson, who joined RAVE in January as Associate Vice President of Supply Chain, is an accomplished strategic supply chain and distribution leader with a diverse skill set — sharpened over her career with restaurant brands and organizations including Wingstop Restaurants, Inc., Nothing Bundt Cakes and LSG Sky Chefs. This appointment marks a significant full-circle moment, as Wilson served as Sr. Director of Supply Chain and Customer Relations for RAVE from 2002-2013, acting as a key contributor to the development of the Pie Five concept.
“These new members of our team are all highly skilled and experienced pros who will be essential to building a strong future,” said Brandon Solano, CEO of RAVE Restaurant Group. “We’re focused on doing everything we can to honor our company’s long history while satisfying our customers, franchisees and investors for years to come.”
To further shape the trajectory of RAVE, Carlos Cojulun serves as Marketing Director of Pizza Inn, overseeing national and regional in-store, digital, social and out-of-home brand marketing and promotions for “America’s Hometown Pizza Buffet.” Cojulun is known for pioneering innovative strategies, with more than three decades of leadership experience at Fortune 500 companies including Procter & Gamble, Del Monte Foods and Amgen. Additionally, Roger Mangum joins as Director of Operations and Training with lead responsibility for operations in Texas and Oklahoma. Mangum will likewise oversee training across both Pie Five and Pizza Inn.
Liam Finn recently joined RAVE as Director of Franchise Development, bringing a wealth of experience in franchise development and investment banking to the team. As a Franchise Development Manager at Driven Brands over the last three years, he spearheaded strategic initiatives to drive franchise growth and expansion across North America. Prior to this role, Finn served as an Investment Banking Analyst at Tobin & Company, providing expert financial analysis and advisory services to his clients.
“The collective expertise and vision of these executives promises to usher in a new era of prosperity and innovation for RAVE, reinforcing its position as a market leader and paving the way for sustained success,” continued Solano. “These team members were each handpicked to play pivotal roles in shaping the trajectory of our company. I believe we are poised like never before to drive improved financial performance, scale reimagining efforts and propel store count expansion — setting the stage for unprecedented growth.”
Dallas-based RAVE Restaurant Group [NASDAQ: RAVE] has inspired restaurant innovation and countless customer smiles with its trailblazing pizza concepts. The Company owns, franchises, licenses and supplies Pie Five and Pizza Inn restaurants operating domestically and internationally. The Pizza Inn experience is unlike your typical buffet. Since 1958, Pizza Inn’s house-shredded 100% whole milk mozzarella cheese, fresh ingredients and house-made signature sauce combined with friendly service solidified the brand to become America’s favorite hometown pizza place. This, in addition to its small-town vibe, are the hallmarks of Pizza Inn restaurants. In 2011, RAVE introduced Pie Five Pizza, pioneering a fast-casual pizza brand that transformed the classic pizzeria into a concept offering personalization, sophisticated ingredients and speed. Pie Five’s craft pizzas are baked fresh daily and feature house-made ingredients, creative recipes and craveable crust creations. In 2024, RAVE recorded its 15th consecutive quarter of profitability with same-store sales growth at both Pizza Inn and Pie Five. For more information, visit www.raverg.com and follow on Instagram @pizzainn and @piefivepizza.
Note Regarding Forward Looking Statements
Certain statements in this press release, other than historical information, may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created thereby. These forward-looking statements are based on current expectations that involve numerous risks, uncertainties, and assumptions. Assumptions relating to these forward-looking statements involve judgments with respect to, among other things, the effect of our recent management restructuring and the expectations for our newly hired officers, as well as general competitive and market conditions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of RAVE Restaurant Group, Inc. Although the assumptions underlying these forward-looking statements are believed to be reasonable, any of the assumptions could be inaccurate, including, without limitation, the risk that our recent management restructuring efforts do not have a lasting impact on the Company’s operations and financial results. There can be no assurance that any forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of such information should not be regarded as a representation that those or any other objectives and plans of RAVE Restaurant Group, Inc. will achieve the desired results for the Company and its stockholders.
Opinions expressed by Entrepreneur contributors are their own.
After a decade-plus of advising people about getting started in the franchise industry, my colleagues and I at FranCoach have seen and heard just about everything. One of the questions that we hear a lot from our clients is, “What is the best franchise?” Or sometimes people ask “What is the hottest industry out there?”
Without a doubt, these are the easiest questions we have to answer.
The Myth of the “Best” Franchise
So what is the best franchise?
The answer is incredibly simple: There is not one. There is not one best franchise. There is not one best or hottest industry. It is truly that simple.
If anybody tells you differently, they are either lying to you or they do not know what the heck they are talking about.
You might be thinking, how is that possible? There has to be a “best” franchise and a “hottest” industry.
Well, there is not — and I will explain why. There are a few different bits of information that go into the reasoning here, but first off, franchising is an incredibly individualized and personalized process.
What is best for you is not what is best for the next person or the person. Here’s the analogy I often use:
My wife’s friends or family might ask her, “Why in the holy hell did you marry that old bald dude?” It’s probably a valid point, but for whatever reason, I was her person, her match. The same concept applies to franchises. Sometimes, the old bald dude is really the best fit for people. And for the next person, the best fit will be totally different.
In other words, beauty is in the eye of the beholder.
When it comes to the franchising industry, there are a few important points to understand.
If you combine every franchise out there, the industry is valued at over $800 billion – yes, billion, with a B. There are over 800,000 franchise units in the country, and they employ over 9 million people. This is a massive industry.
Within that, there are many different industries and niches. For example, at FranCoach, we work with over 600 franchises and about 70 industries.
Every one of those niche industries is going to throw shiny buzzwords and stats at you. This industry is booming, this one is recession-proof, and that one is essential. That one over there is up-and-coming, this other one is trendy… you get the idea.
But ultimately, none of that matters. What matters is YOU. What is the best thing for YOU?
The Get Out of Bed Test
We talk a lot about the Get Out of Bed Test. What does that mean? It means that you are the one who is going to be the franchise owner. You are the one that has to get your butt out of bed and go run this business every day.
With the Get Out of Bed Test comes a series of questions you will want to ask yourself:
What are you good at?
What do you enjoy doing?
Who are the people that you want to be around? Think about your staff, if you have one, and the customers in your community.
What are the core values of the business?
What is it that you want to do every single day?
Your answers to those questions are what matters. At the end of the day, franchisors are not looking for industry experts. They are looking for people who will run their business. So instead of looking at a certain industry or a certain brand, trying to figure out what is the “hottest” or the “best,” you want to think about what is best for YOU.
As you think about your answers to the questions above, a whole world of possibilities begins to open. It can be a little bit overwhelming to consider all of the franchise options out there — remember, this is an $800 billion industry. There are over 4,000 franchise brands in the U.S. alone, not even considering brands located internationally.
In other words, it is a lot to sift through. So what do you do? How do you find the right fit?
Finding the Right Fit
That’s where the FranCoach team comes in. What our team does is not hunt for the best or the hottest franchise — instead, we get to know you. Everything revolves around you: What are you good at? What do you want to do?
Once we understand your answers to those questions, we start to build from scratch what you are looking for, what you are good at, and what you do not want to do. What are the core elements of the right business for YOU?
We know the differences between all of the 4,000 franchises out there — we have seen behind the curtain. We know what each one is all about, so we can hunt down what is going to be the best thing for you. The hottest thing for you is going to ultimately be your match.
Pretty darn simple, right? So what is the trick? The trick is finding the absolute best franchise for YOU.
Think about it like this: You are terrible at sales, you hate people, and you never want to talk to anybody. Then you start a franchise because somebody tells you how good it is or how hot it is. But it turns out that you have to sell and be the face of the business to succeed.
Well, guess what? It is not going to go very well. That is a terrible match. It does not mean that is a bad franchise. It does not mean you should not own a franchise. It means it is a bad match.
There is no “best.” There is no “hottest” for everybody. What matters is YOU and finding the best franchise for your skills, needs, and goals.
Work With the FranCoach Team Today
If you are ready to learn more about franchise ownership, you are in the right place. Here at FranCoach, we work with our clients to help them find the absolute best franchise for them.
Our number one goal is to properly educate you about franchise ownership. We want to help you determine if franchise ownership is the right path for you — and if so, we will guide and support you through the process of finding your perfect match.
And the best part? Our services are 100% free, 100% of the time – seriously. Reach out to us today to learn more about becoming a franchise owner. You have read this far… so why not take the first step today toward your better tomorrow?
Opinions expressed by Entrepreneur contributors are their own.
Attention, franchise owners, solopreneurs and independent contractors: It’s time to call your lawmakers and insist on their vote to protect the way you earn a living.
Why? Because federal agencies are attempting regulatory workarounds to implement policies that Congress refused to enact — policies that threaten the right of franchises and independent contractors to continue operating our businesses as we do today.
The background you need to know starts with a bill that moderate Democrats in the U.S. Senate joined with Republicans to block. That bill was called the Protecting the Right to Organize Act, and it contained language so dangerous for franchise owners and solopreneurs that Entrepreneur published its first-ever series of political advocacy articles in opposition to it.
I wrote that series, called the Campaign for Our Careers. It was an award-winning look at the two most dangerous provisions of the PRO Act for franchises and independent contractors: the joint-employer standard and the ABC Test.
Since the PRO Act couldn’t get through the legislative branch of government, the Biden administration has been trying to use the executive branch to impose similar policy changes. We need every possible lawmaker to co-sponsor the use of the Congressional Review Act (CRA) to overturn these executive-branch moves.
On the joint-employer language, the CRA would overturn changes to the joint-employer standard by the National Labor Relations Board. This CRA has already passed the House of Representatives — in a bipartisan 206-177 vote — but it’s still awaiting action in the Senate. The International Franchise Agency urged lawmakers as of late February “to kill joint employer once and for all.” More than 90 organizations have endorsed this CRA.
On the independent contractor language, the U.S. Department of Labor acknowledges in its new rule that there may be “conceptual overlap” with the ABC Test’s most harmful section to independent contractors. The U.S. Chamber of Commerce says the “DOL’s claim that the regulation does not reflect the ABC Test leaves something to be desired.” The independent contractor CRA was introduced in the House and Senate in early March with more than 70 co-sponsors and needs more in both chambers to advance.
Federal lawsuits have been filed against both federal agencies, trying to stop these policy changes through the courts. But, given the snail’s pace with which the wheels of justice can turn, it’s important for Congress to act.
Of course, to get Congress to act, lawmakers need to hear from constituents. Call or email your member of the House of Representatives and your two senators. Ask them to co-sponsor using the Congressional Review Act to stop both the National Labor Relations Board joint-employer standard and the Labor Department’s independent contractor rule.
To contact your member of the House of Representatives, go here.
Act now, without delay. Both these changes are scheduled to go into effect on March 11 unless the courts or Congress step in.
Kim Kavin is one of a half-dozen freelance writers and editors who have sued the U.S. Department of Labor in two separate lawsuits through Pacific Legal Foundation and The Beacon Center of Tennessee over the independent contractor rule.
Completion Marks 27 Years of Ongoing Accreditation Earned by the Highest-Level Education Institutions
ORADELL, N.J., February 8, 2024 (Newswire.com)
– Huntington Learning Center, the nation’s leading tutoring and test prep provider, is pleased to announce the expansion of its partnership with the Middle States Association of Colleges and Schools (MSA-CESS). This strategic collaboration now encompasses all nationwide centers, as well as the Huntington Learning Center corporation. MSA-CESS has approximately 2,700 members worldwide in over 100 countries. The nationwide, organizational accreditation continues to solidify Huntington’s commitment to providing high-quality education and giving every student the best education possible.
Accredited learning providers undergo rigorous evaluation, reflecting a commitment to excellence and a focus on student achievement. This process ensures accredited institutions uphold the highest educational standards and exhibit a resolute dedication to ongoing enhancement.
“Huntington has worked with Middle States Association of Colleges and Schools for 27 years as they accredited the Huntington Corporation and many individual Huntington Learning Centers throughout the country. We take great pride in the substantial growth of our partnership, leading to MSA’s accreditation of all Huntington centers across the nation. This underscores the core values that each center is built upon as Middle States Association of Colleges and Schools stands behind our product by providing their seal of approval on our education and business practices,” said Carol Lovallo, Director of Educational Development, Huntington Learning Center.
Huntington Learning Center’s accreditation journey involved a comprehensive analysis of its programs. This process aligns with MSA’s research-based standards, mirroring the essential elements of a quality educational institution. Huntington’s accredited status opens doors to advanced opportunities, including access to grant funding and state resources. Most importantly, the MSA accreditation verifies the proven results of the Huntington methodology that is individualized for each student.
For Parents:
Parents can be confident in the fact that Huntington Learning Center adheres to the same rigorous standards embraced by Ivy League institutions such as Princeton, Cornell, University of Pennsylvania, and Columbia. These esteemed universities recognize the value of accreditation in upholding quality and driving continuous enhancement.
For Students:
Accreditation underscores Huntington’s commitment to delivering superior instruction that exceeds standards set for educational institutions. This recognition ensures that students receive a top-tier education that equips them for success. Huntington’s ongoing commitment to improvement means that students benefit from a continually evolving and effective learning experience.
This accomplishment solidifies Huntington’s position as a trusted leader in tutoring and test preparation, dedicated to the success of every student. Huntington Learning Center‘s dedication to achieving MSA accreditation reflects its unwavering commitment to delivering exceptional education, fostering continuous improvement, and giving every student the best education possible.
About Huntington Learning Center
Huntington Learning Center is the nation’s leading tutoring and test prep provider. We offer customized programs in person and online, as well as hybrid options. Our certified teachers provide individualized instruction in phonics, reading, writing, study skills, elementary and middle school math, Algebra through Calculus, Chemistry, and other sciences. It preps for the SAT and ACT, as well as state and standardized exams. Huntington’s programs develop the skills, confidence, and motivation to help students succeed and meet the needs of Common Core State Standards. Huntington is accredited by Middle States Association of Colleges and Schools. Founded in 1977, Huntington’s mission is to give every student the best education possible. Learn how Huntington can help at www.HuntingtonHelps.com; and for franchising opportunities, visit www.HuntingtonFranchise.com.
