A regular line franchise consultants like myself throw out when discussing franchising is that “it’s not just flipping burgers.” Obviously, that’s a reference to the reigning king of the franchise, McDonald’s, because it’s most often what comes to candidates’ minds when talking about a franchise. Major brands like that have certainly played a significant role in turning the franchise industry into the powerhouse that it is today, but they aren’t doing it alone.
If you’ve ever been downsized, you know how stressful it can be. It’s initially a shock. Then there is a grieving process for the professional life lost and finally an acceptance of what happened and a decision to move on.
People will offer consoling words such as, “I’m sorry to hear that.” or “If there’s anything I can do, please let me know.” I only have one word for those just downsized out of Corporate America.
It’s every property owner’s biggest nightmare. A water heater leaks. A washer hose fails. A fire breaks out. Property damage affects millions of Americans each year, with 37 percent of U.S. homeowners claiming to have suffered losses from water damage. In fact, the average cost of a home water damage insurance claim is almost $7,000! Continue reading
Jim Judy had a great time chatting about the lucrative world of franchising on the personal finance podcast, “Money Matters with Matt” last week. If you’ve ever considered entrepreneurship or business investment through franchising, give it a listen. Running time is only 12 minutes.
Spring is upon us! The clocks have been moved ahead, baseball players are shaking off their winter rust and nature is in full bloom. Spring is a period of renewal, expressed by Americans’ favorite annual ritual: Spring Cleaning.
I recently wrote about the booming fitness boutique franchise model that gives franchisees the freedom of operating a semi-absentee business while enjoying high profit margins. These businesses are a win-win for their owners, but recently one in particular has been outstanding.
One of the largest premium networks of boutique fitness studios in the world is boasting some staggering growth numbers this year. Already, in 2017, they are prepared to open more than 400 locations in 30 states. Their executive model is perfectly suited for owners interested in owning multiple units, while their investment return has averaged a whopping 47 percent EBITDA margins.
The International Franchise Association 2017 Convention is opening in just a few weeks, meaning their annual forecast giving franchising businesses their predictions for the year ahead is about to be released. Normally, I’d wait for their report to spread the good news, but, in 2017, there’s no need for delay.
It’s going to be a good year to be in franchising.
The franchising industry is on a hot streak, having seen growth of more than 2.5 percent for five years in a row, 20 percent higher than for all business. 2017 may be the best year yet.