Hosting a game or contest is a great way to reach consumers, some brands that have tried it say. But it's not child's play to get a return on investment or stay on the right side of the law.
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English is a mandatory subject in Japanese grade schools, but don't expect to do business without an interpreter since many Japanese can understand some slowly spoken English, but are not used to speaking it.
We asked the 40 brands on our Fast and Serious list to describe financing assistance they provide to franchisees. Their responses ranged from minimal help to monumental. Here are samples, in their own words.
Whenever young franchisors get together they discuss: How are you getting prospective franchisees? Our three Living Large CEOs, whom we're following all year, share different approaches to ramp up sales. Executive Care's CEO Lenny Verkhoglaz is taking the broker route to increase franchise sales. With 12 units of his home healthcare franchise sold, he believes it's the best way for an unknown brand.
The valuations are eye-popping, pegged at $150 per burger sold in 2014 at Shake Shack, as one analyst puts it. Can restaurant chains continue their strong debuts? It looks like anyone with a good growth story will try.
The best way to enter into an agreement in Japan is to think small and be patient. “American franchisors always seek the largest development agreements,” says Roy Fujita of I Fujita International, a consultant who works with both Japanese brands coming to the U.S. and U.S. brands going to Japan. His advice: “Don't push too much in the beginning. Let it (your concept) prove itself.”
High-end retailers are grabbing space in airports around the world, offering stiff competition to restaurants seeking the space. But don't be wooed by big traffic numbers alone, as costs and hassles can be high, too.
Jeff Salter, CEO of Caring Senior Service, is often at odds with the Obama administration. Most recently he lobbied hard against changes in how people who provide care in patients' homes are compensated—they are no longer exempt from overtime and minimum-wage rules, as of January 2015.
“We are exactly two hours into this new adventure, and it's going great so far. It's going to be a wonderful and fun ride.” So said Susan Beth, formerly known as Susan Black-Beth, on the first day at her new job, in January. She's the operating partner at NRD Capital in Atlanta, the franchisee-controlled private equity fund launched by Aziz Hashim last August that is now gaining steam.
The entire time Lisa Schultz of Barkefellers was describing the luxury suites at her facility in Indianapolis, I was trying to imagine my Jack Russell terrier Hank—may he rest in peace, because he never did when he was alive—as an overnight guest. Hank was a dog only a pet guardian could love. When we boarded him, he picked the locks on his cage and escaped, or chewed up the bedding—not his, of course, but rather the foam-rubber bed belonging to his much maligned canine sister Daisy. His human sister, Becca, referred to him as a jerk.