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Gaining traction as you work to franchise your concept can take a great deal of effort and strategic thinking. After more than a decade of investing in a variety of industries and branded businesses, I’ve learned what exactly businesses need to do before they start franchising and throughout the process to maximize success.
From franchise compliance to mergers and acquisitions (M&A) terms, the right legal frameworks can guide a restaurant company to long-term, sustained success. A carefully crafted Franchise Disclosure Document (FDD) and clear franchise agreements are key to setting expectations and maintaining transparency with your franchise partners.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Dave’s Hot Chicken is spicing up its 2021 franchise development strategy. Two of the nine franchise locations in Mexico are slated to open in 2021. Modular Chicken.
Below is an excerpt from Scott Greenberg's The Wealthy Franchisee: Game-Changing Steps to Becoming a Thriving Franchise Superstar (Entrepreneur Press, November 17, 2020). During the months between signing my franchise agreement and opening my store, I continued traveling and giving presentations. This is everything related to work.
MRM Franchise Feed features news about the restaurant franchise (MUFSO) landscape. It’s one more way we can show how much we care about our employees. ” Eligible employees of KFC corporately-owned and franchisee-owned restaurants can also participate in Savings Match Challenges funded by the KFC Foundation. .
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. ” Dickey’s is now offering a franchise discount for existing Owners Operators. . Virtual Barbecue Pit. Hot for Dave's Hot Chicken. 10 units in Chicago.
Franchise brands have many goals in common: enter a new market; attract new franchisees, employees and loyal customers; increase average unit volume (AUV); and accelerate franchise expansion strategies. Why should an entrepreneur consider franchising your concept over others? Let’s talk about how to tell your story.
Emily was delighted to be back with her franchise friends and pick up some new ideas. Emily and Joe are composites of the business owners I’ve met working with many franchise brands over the last two decades. They relate well with customers, employees and their franchisor. They travel a lot. They manage adversity.
Modern Restaurant Management (MRM) magazine reached out to John Cassetta, Restaurant and Franchise Solutions Manager at Aon, for his insights on best practices for restaurants on Drinksgiving. The real challenge for restaurant owners is the increased possibility of alcohol-related incidents, simply due to more time for risks to happen.
MRM Franchise Feed features the latest news in the restaurant franchise and MUFSO landscape. ” General Managers must travel by the end of December and the company is encouraging employees to post pictures of their travels on its internal social media site. Überrito Fresh Mex Embarks on Aggressive Franchise Program.
MRM's Franchise Feed features news on the restaurant franchise and MUFSO landscape. The group plans to grow both Ike’s and Bangin’ Buns through franchising starting in 2023. Habit Signs Franchise Development Deal. Wing Zone Refresh. Wing Zone is getting a new look, top photo. It is advancing its U.S.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. ” The company already signed nine franchise licenses with three new franchisees. PJ’s Coffee offers a proven franchise structure with strategic corporate support.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Curry Up Now will be the first restaurant is L2V’s portfolio and the investment will support the rapid growth and expansion of both corporate and franchised locations. "We
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. CPK Brings on Franchise Veteran. Send news to Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. Giorgio Minardi. ” Rex's Ready to Grow.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Tropical Smoothie Cafe signed two multi-unit franchise agreements to develop 38 new cafes across the state of Colorado, including a 27-unit deal and an 11-unit deal. . "My
In addition to being the hardest hit, these segments are heavily franchised. The PPP, which is administered by the Small Business Administration (SBA), is designed to ensure that businesses with 500 or fewer employees can continue to meet their payroll demands. For example, according to the March 2020 jobs report from the U.S.
million jobs due to the pandemic-related closure of dine-in services — roughly two-thirds of restaurant employees in the U.S. The constantly evolving pandemic-related regulations and confusion forced many restaurants to lay off and then rehire staff. According to new federal data, the restaurant industry has lost 5.9
In other encouraging news, franchise operators believe that, although most restaurants are not fully staffed, the labor situation has stabilized. Restaurants must also learn to operate with fewer employees and rely more on technology. On the franchise side, what do you foresee in 2023? Are some doing well and others not so?
A global infectious disease outbreak such as COVID-19 can impact your business in terms of risk to employee safety, loss of sales and economic uncertainty. Your BCP must also address how HR and leadership will handle issues related to the employees and patrons. HR is tasked with more than the safety of employees.
With so many people leaving the industry, restaurants stepped up—raising wages, creating new opportunities, and doubling down on the employee experience. Much of that confidence comes from focusing on stronger employee benefits—like mental health support—and rising wages.
Beyond these three significant considerations, you will also need to be aware of franchise disclosure laws and trademark filings, among other issues, as you expand and reshape your business into a ghost kitchen. Moreover, if a franchisee has multiple investors into a franchise, LLCs become more complex from a tax perspective.
Sarah Yee, who owns an L&L franchise in San Antonio, Texas, kept all 16 of her employees working their regular hours while growing her existing customer base. Arsen Shahnazarian, who owns one of the longest-running franchises in the area, donated plate lunches to staff after one of the doctors reached out. Elisia Flores.
But beyond its legal necessity, ensuring compliance with employment laws is critical to shaping a better experience for employees and customers alike. Restaurants should not make managers and employees fear compliance. Instead, they should see it as an opportunity to start an important conversation about the employee experience.
Franchise brands have the benefit of higher levels of awareness and national brand marketing dollars behind them. This can include hours changes or COVID-related protocols, information about how the business is doing and promotions or discounts, which can be shared “virally” to generate new or repeat business.
These teams want to focus on customer relations and hospitality, but are instead navigating how to get the supplies they need. By selecting data-rich vendors with expert-level insights, you can outsource some of the supply-chain burden and focus on what matters most – keeping your customers and employees happy.
According to the National Restaurant Association , 62 percent of operators say their restaurant needs more employees to support customer demand. Smart kitchen equipment, such as automated stove tops and automatic recycling oil fryers, make order fulfillment easier, faster, and more consistent.
Within weeks, his corporation declared bankruptcy, leaving 500 employees wondering if they would keep a job and putting $30 million dollars of sale volume at risk for the brand. Despite this, restaurant owners and franchise brands routinely shy away from discussions around exit strategies or succession planning.
Paycheck Protection Loans : Restaurants with fewer than 500 employees may borrow money through the Small Business Association (“SBA”) for a variety of costs related to employee compensation and benefits. To qualify, the restaurant must have been in operation on January 31, 2020 and have 500 employees or less.
For instance, the growth of delivery led to uncharted operational struggles, with more business came heightened compliance risks and of course, with more customers came labor-related headaches. Directly managing a delivery workforce comes with a slew of management and administrative-related burdens and costs for operators. Labor Wars.
Product liability insurance can help protect you from the cost of these product-related claims. Workers' Compensation Insurance is an essential coverage to include on your policy if you have any employees. Liquor liability insurance can protect your business from the cost of alcohol-related accidents.
Fast food chains or quick service restaurants prepare mass-produced take-out food and usually follow a franchise model. Cons: You have limited control because these concepts often follow a franchise model—not ideal if you want to create a unique concept. 24/7 employee scheduling can be challenging. Virtual Restaurants.
This is certainly true for the independent entrepreneur, but even large and resourceful restaurant franchises and groups are not immune to the threat—and in some cases, the reality—of rising labor costs. Benefits (Health Care, Employee Discounts, etc.). The amount spent on all labor related costs—including payroll taxes, benefits, etc.
Ervin Cohen & Jessup launched a Food, Beverage and Hospitality practice to more efficiently advise industry-related clients to recover from the devastating financial and logistical impacts of the coronavirus pandemic and beyond. Delightree app can also streamline employee onboarding.
” RWCF is compiling an extensive list of resources and links related to the COVID-19 Crisis on its website, and, soon, we will collect data (qualitative and quantitative) from affected workers and restaurant owners so that we can work with local and national leaders to address the systemic issues the COVID19 pandemic has exposed. .
While restaurants certainly include national chains, the majority in the US are independently owned and operated, including franchises. Payroll was to be looked at per employee and was limited to $100K on an annualized and pro-rata basis. So how could they pay their employees? Many have been passed down for generations.
The program was created to help small businesses (fewer than 500 employees) with funds to pay up to eight weeks of payroll costs, including benefits. Restaurants and franchises are waived from the SBA’s current affiliation rules within certain criteria – great news for entities with private equity investors. 10 million.
.™” with an initial donation, aiming to raise $125,000+ for Children of Restaurant Employees (CORE), a nonprofit that assists the families of service industry members navigating life-altering circumstances. All donations are tax-deductible and go directly to Children of Restaurant Employees (CORE). based 7shifts users.
Effective employee scheduling means finding the right mix of shifts and shift types for your business. It means understanding employee availability and managing employee requests for time off and even last-minute shift changes. Table of Contents: What makes a great employee schedule? But it isn’t simple.
This edition of MRM Research Roundup features evolving guest relationships, views on restauarant tech, employee desires and wedding trends. While only 15 percent plan to reduce the number or size of their franchise locations, operators are making other adjustments to their real estate. ” What Restaurant Employees Want at Work.
The United States District Court in the Eastern District of Texas handed down a summary judgement decision, vacating the National Labor Relations Board’s 2023 Joint Employer Rule. The franchise industry, along with many members of Congress, pushed back on the Joint Employer Rule. Circuit Court.
Download the ebook Seattle Employee Pay & Minimum Wage Laws Seattle Minimum Wage Seattle is known for having one of the highest minimum wages in the United States, which has made it difficult for the city’s restaurateurs to balance high costs with the need to keep prices down in recent years. However, if employees are tipped $2.25
" The platform will continue to house a variety of helpful COVID-related materials as well as evolving resources to address new and emerging challenges. ” Here’s how Drive Kindness works: Drive Kindness’ franchise owners will charge restaurants a flat rate. " Lightspeed Acquires Upserve.
Social distancing has radically changed the way restaurants work, causing a spike in delivery and take-out orders, and employees are taking on different responsibilities to fit these new roles in the workplace (2). Conflict Resolution (Guest Relations). COVID-19 is redefining jobs (1).
TEAM Schostak Family Celebrates Anniversary and Employees. TEAM Schostak Family Restaurants (TSFR) is celebrating its 40th anniversary along with the anniversaries of employees that have been with the company for 20 years or more. Southern Glazer's Acknowledges Drivers and Warehouse Employees.
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