What’s the most important factor in considering a franchise business?

View Results


Top Franchises

SIGNARAMA Franchise Shoebox New York Franchise Econo Lube N' Tune Franchise Great Harvest Bread Co. Franchise Figaro's Pizza Franchise Nitro2Go Business Opportunity Pizza Fusion Franchise Vendstar Business Opportunity Ace Hardware Corporation Business Opportunity California Tortilla Franchise

January 7, 2009

Food franchises innovating as well

Yesterday we were discussing innovations that fitness franchises are implementing to attract business during what it is typically one of their busiest months of the years. Fitness franchises are not alone: just look at some of the changes food franchises are bringing in to attract new customers.

Some food franchises are betting on a breakfast resurgence. Oatmeal, that cheaply-made, unfashionable, extremely-filling breakfast meal has started to pop on the menus on Starbucks and Jumba Juice in cold-weather cities like Chicago. Considering that breakfast has become less and less integral for workers on the go, the return of oatmeal shows that franchises are thinking outside of the box to attract customers. Easily-made and highly nutritious, oatmeal is a perfect meal for the recession, and one wonder what other formerly passé foods franchises might bring into the fold.

Franchises have long been hoping that new technology might provide them with a competitive edge. Few food franchise markets are more competitive than the pizza industry, and signs show that franchises are turning to the internet to attract customers. Domino’s Pizza now lets customers order pizza on TiVo, while you can order Pizza Hut from the couch with your TiVo and Papa John’s now accepts text message orders. Each pizza franchise is obviously trying to adapt to the changing ways we interact now, but will these innovations really bring a flood of new customers, not to mention imitators? Time will tell, but franchisors obviously feel this is a risk worth taking.


December 17, 2008

In search of recession-proof industries

As the year winds down, one question that continues to pop up – be it on radio or TV or in conversation – for people in the small business world is: what constitutes a recession-proof business?

As we all know, there is no wishing away the economic downturn at this stage. It has quickly become part of our lives and the most opportune investers are trying to position themselves with the business most able to weather a bad economic stretch.

There are a lot of theories about which industries are recession-proof. It’s certainly a subject that we’ve discussed on this blog. The truth is, there’s no way of exactly saying, as each recession differs from the one that precedes it. Interestingly though, Scott Shane, who writes for the website smallbiztrends.com and teaches entrepreneurial studies, compared data from the last two recessions (1990-1991 and 2001-2003) in search of trends among the small business that succeeded.

Shane used pretty rigorous criteria to determine a recession-proof business. A company had to experience a 20% increase in each of the following categories to be considered recession-proof: the number of establishments; the number of employees; the dollar amount of payroll; the number of establishments with 20 or fewer employees; the number of employees at establishments with 20 or fewer employees; and the dollar amount of payroll at establishments of 20 or fewer employees.

Pooling all of his data together, Shane found only a handful of industries that experienced booms as the rest of the economy slumped: banking-related businesses, accident and health insurers, health practioners and business consultants.

The findings are highly interesting, indeed. One thing Shane admits is that every recession is different, and so it is rare to see a business thrive in two recessions. As for thriving in three recessions, banking-related businesses are facing into a tough few months given the collapse of Wall Street. The future may look brighter for business consultants and insurers, though.

Shane also makes two other points:

  • Some industries grow at a steathfully during a recession.
  • Insurance, health care, and consulting tend to be recession-resistant industries for people running small businesses.

As for his second point, Franchise Direct brings you some of the most vibrant insurance, health care and consulting franchises in the industry. Find out more today.


November 6, 2008

Change for small business owners?

Well, wasn’t that exciting? But as the post-mortem’s are being written on 2008’s seemingly-endless presidential election, it’s a prescient time to take a look at the shape of the small business world as we head into this new historical moment.

As we all know, these are trying times for small businesses. The credit crunch is biting and insurance costs are skyrocketing.

“The state of the union for small business is bad,” says Moody’s Economy.com chief economist, Mark Zandi recently told CNN recently.

Here’s more bad news for entrepreneurs: a recent Fortune Small Business/Zogby International poll says 42% of U.S. small-business owners have had their businesses had go down in the last four years.

That said, there are still reasons for small business owners to be positive. Just look at the boom in the education and health-service sectors last year. And with the low cost of the dollar, small businesses have enjoyed a bumper year for exports. Statistics from the Small Business Administration shows exports up 63 percent over the last five years for small firms.

Financial experts are now advocating a sensible approach for entrepreneurs and small business owners. Here are three elements which might be able to bring further relief:

* Health care costs: The Small Business Health Options Program (SHOP) was introduced by Congress in April 2008. The Small Business Association is excited by the cost-cutting opportunities that the bill presents.

* Credit cuts: there have been calls to the SBA to raise its current 7(a) loan guarantees from 75 – 85 percent to 100 percent. This move would go a long way towards restoring confidence of small business owners and getting them back in business

* Help exporters: some franchisors might not know about the Government’s Gold Key service. In this service, the Department of Commerce charges $700 to match business owners and distributors. There were 1,200 Gold Key requests and this is another tool that might help small business owners through this trying time.


September 22, 2008

Growing up fast. Growing up smart.

It might seem a bit early to be thinking about summer vacation with the kids just back to school, but the truly enterprising parent might be intrigued to learn about the many summer business camps on offer for kids.

Here’s the idea: rather than have kids sitting in front of their Playstation all summer, why not have children learning about business in a more informal environment, like a summer camp? And let’s face facts: the likelihood of your child working in business twenty years down the road is somewhat better than he or she being the next Michael Phelps or Lisa Leslie. A bit practical know-how here and there might going a long way.

The American Camp Association has noted a big push towards business-related camps in recent years.

GirlsInc: Partnering with investment giant Goldman Sachs, Girls Inc. operates a corporate camp for young female entrepreneurs for one week every summer. Girls Inc. is a national non-profit youth organisation designed to empower young women.

Julian Krinsky Camps & Programs: There’s everything here from day camps at Bryn Mawr University for 4-6 year olds to pre-college at Princeton for teens. A great number of exciting things to do for young people in the greater Pennsylvania area.

Kidscamps.com: Finally, search the national database at Kidscamp.com for the perfect opportunity for your child, whatever the age or the location.

Have your child make the most of his or her summer next year.


September 4, 2008

Step into Stanford’s Entrepreneurial Corner

We all need a bit of advice when starting or running our own
business. Well, why spend thousands on corporate seminars now that Stanford University has created its own online entrepreneurial center?

Stanford Entrepreneurial Corner presents a wide array of essential material for entrepreneurs and people considering buying their own franchise. Watch video seminars and listen to podcasts from the like of business leaders like Carly Fiorina and Larry Page and Eric Schmidt of Google, with topics touching on everything from ‘The Dynamics of Change and Fear’ to the ‘Five Biggest Mistakes That Entrepreneurs Make’.

Knowledge is power, so inform yourself today.