Franchising Provides Owners With a Proven Model and Opportunities to Evolve the System

The value of owning a franchise is the operating system. March 26, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. One of the major differences between joining a franchise system and inventing your own business is the degree of independence and control enjoyed by the owner. There are pros and cons to both, and most people seem to have an opinion about which system is better. Both approaches have merit — which is best depends mostly on the preferences of the individual and what they want to put into and get out of the business. Related: 7 Things You Need to Know Before Becoming a Franchise Owner The basics of owning versus franchising Independent owners create every aspect of their business. Through trial and error, the independent business owner builds an operating system that allows the business to successfully attract and retain customers. This includes everything from building the business to marketing […]

Read more

8 of the Best House-Maintenance Franchises You Can Buy Now

Entrepreneur Franchise 500 Rank: 61 Initial investment: $89,619 to $125,023 Initial franchise fee: $37,500 to $51,500 New units in 2019: -16 units (-0.9 percent) Founded in 1979 and franchising since 1980, Merry Maids boasts over 1,000 cleaning franchises in the U.S., relying on a two-person, home-cleaning for its franchisees. Its website lists some of the business’s biggest untapped markets, which include New York City and Cleveland. Read_More Related posts: 24 Top-Ranked, Affordable Franchises You Can Buy for $25,000 or Less 5 Restaurant Franchises That Will Cost You at Least $1 Million 5 of the Best Fitness Franchises You Can Buy The Top 20 Franchises of 2020 From the Entrepreneur Franchise 500 The 19 Oldest Franchises on the Franchise 500 A 6-Step “Mindset Maintenance” Checklist for Workaholics A 6-Step “Mindset Maintenance” Checklist for Workaholics The Top 100 Franchises for Less Than $150,000

Read more

Why This Entrepreneur Left Tesla to Open a Tech Repair Franchise

Minhthe Nguyen used to be an overworked Silicon Valley engineer. Now, as a uBreakiFix franchisee, he’s still overworked — but happier than ever. March 17, 2020 4 min read This story appears in the March 2020 issue of Entrepreneur. Subscribe » When Minhthe Nguyen started working at Tesla in 2012, he was overseeing a team of 20 at the Fremont, Calif., factory, which was producing a single car each week. Less than three years later, his team had grown beyond 400 people, and they were producing 1,200 cars a week. Having witnessed and contributed to that kind of rapid growth, Nguyen felt empowered to take a leap he’d long dreamed about: owning a business. Coming from the corporate world, he found the structure and support of franchising appealing, and when he learned about uBreakiFix — an electronics-repair franchise with 548 locations across North America — it seemed like the perfect […]

Read more

Franchise Owner Gives Back to the Bahamas

The story of how one Canadian Expedia CruiseShipCenters owner helped his home nation after Hurricane Dorian. December 27, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Chris Ashton is an Expedia® CruiseShipCenters® franchise owner in Barrie, Ontario, Canada. He was born in Nassau, Bahamas and moved to Canada in 1975. His parents and much of his family still live in the Bahamas, and he has always had a special place in his heart for his place of birth. On September 1, 2019, the Northern Bahamas was hit violently by Hurricane Dorian, a horrific storm with recorded winds of almost 200 mph that sat over the region for nearly three days. This hurricane is regarded as the worst natural disaster to strike the Bahamas in recorded history. The devastation was catastrophic, and the death toll is still rising. Chris wanted to do something tangible to help his fellow Bahamians and needed to figure out how […]

Read more

The First CBD Restaurant Franchise Opportunity

Take a look at the CBD-infused burger chain that’s disrupting the fast-food market. December 24, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Some call it the Green Rush, as many are trying to find the safest and most profitable points of entry into the CBD industry so they don’t miss the boat. That’s led to some unique and creative opportunities to do so, with one specifically looking to disrupt the market. I recently was introduced to an exciting model that just might be perfect for the folks on the sidelines (as well as many of the franchise operators that may already be in the CBD industry). Illegal Burger is a Denver-based restaurant chain that is known for its killer burgers, healthy food choices and fun bar scene, but the biggest differentiator is the franchise’s exclusive line of CBD products that can be added to any […]

Read more

There’s a Skilled Trade Labor Shortage. Can We Fix It?

How franchises are working to boost their workforce. October 9, 2019 13 min read This story appears in the October 2019 issue of Entrepreneur. Subscribe » Back in Vinnie Sposari’s day, plumbing was considered a good, honest living. Before shop classes started disappearing from high schools and four-year college was championed as the only respectable career path, Sposari could put a classified ad in Sunday’s paper and have six or eight résumés on his desk by Monday. Good résumés, too. But those days have gone the way of print newspapers. “Very, very rarely will you get a licensed, skilled plumber calling you,” says Sposari. He’s 55 now and spent his career rising up in the plumbing business. He started straight out of high school and soon founded Sposari Plumbing. In 1992, he bought into a plumbing franchise called Mr. Rooter to “learn the business side of things,” and today he owns […]

Read more

Why This Entrepreneur Went from Independent Business Owner to Franchisee

By joining FastSigns, Nikki Taheri found a new world of support. September 3, 2019 4 min read This story appears in the September 2019 issue of Entrepreneur. Subscribe » Nikki Taheri grew up in Tehran during the Iranian Revolution and was raised on tales of her trailblazing grandmother — a six-foot-tall woman who chose to forgo a hijab and dressed as a man in order to pursue a career in trade. Taheri never met her grandmother, but she likes to think she inherited some of her gumption. In 1993, as opportunity and education for women seemed nonexistent in her home country, Taheri fled to the United States, where she earned her bachelor’s degree, discovered a passion for design, and eventually opened a sign-and-awning business in Bayonne, N.J. Nearly two decades later, as business was thriving, Taheri made yet another bold decision and converted her business into a franchised location of […]

Read more

Jazzercise Still Thrives After 50 Years… and Its Startup Fee Is Only $1,250

The workout franchise is still growing, still evolving and still dancing. August 20, 2019 13 min read This story appears in the September 2019 issue of Entrepreneur. Subscribe » It is 9:45 a.m. on a Wednesday morning in Oceanside, Calif., and the crown jewel of the Jazzercise class schedule is hitting its stride. It’s called Dance Mixx, and it’s taught by Shanna Missett Nelson, the daughter of Jazzercise’s founder and CEO. Nelson says that Jazzercise prides itself on having “a little sprinkle of everybody in class,” and the more than 60 women who gather in this studio next to a Buffalo Wild Wings indeed represent a little bit of everybody. There’s one in the front row with hair dyed neon red, another near the windows dancing in her sandals, a lanky 18-year-old in sleek, forest-­green leggings, and a group of 40-somethings who call themselves the Mom Squad, who whoop and […]

Read more

How a Colorado Home-Improvement Franchise Found Its Market

An interview with LIME Painting’s founder and CEO. August 19, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Home-improvement businesses are profiting at an all-time high as the real estate market continues to remain strong in most areas of the country and homeowners are looking to increase the value of their investments. Accordingly, many successful franchise systems have developed in recent years providing services include cleaning and maintenance, along with other specialty business models. I recently spoke with Nick Lopez, founder and CEO of Denver-based LIME Painting, who says that his business has differentiated itself by offering more than 15 revenue streams, exponentially increasing the possible returns from a single client. “Most of our clients start with standard painting,” he explains. “But [they] add on other services such as gutter repair or replacement, walkway refinishing or even a nice new garage-floor surface. Painting is a $40 billion dollar industry, but the home-improvement category is a $400 billion sector.” […]

Read more

Chick-fil-A Is the Most Beloved Fast-Food Chain in America, According to a Brand Intimacy Survey

Per the survey, 26.7% of people who visit Chick-fil-A said they were willing to pay up to 20% more at the chain. August 15, 2019 2 min read This story originally appeared on Business Insider Chick-fil-A is winning over customers’ hearts and stomachs. The chicken chain rose to the No. 1 spot among fast-food chains in MBLM’s 2019 Brand Intimacy study. The marketing agency analyzes people’s emotional bonds with brands, surveying 6,200 people in the U.S., Mexico, and the United Arab Emirates. Chick-fil-A ranked tenth of all brands analyzed by MBLM, the highest of any food or beverage brand. Dunkin’ was the second most intimate of the fast-food brands, Starbucks was third, and McDonald’s was fourth. MBLM found that Chick-fil-A had a wide appeal among various demographics. 26.7% of people who visit Chick-fil-A said they were willing to pay up to 20% more at the chain, compared to 14.5% on average at […]

Read more

How Franchising Helped This Founder Scale His Business

Former NFL player Tafa Jefferson launched a business to provide care to senior citizens. But he couldn’t do it on his own. July 18, 2019 3 min read This story appears in the July 2019 issue of Entrepreneur. Subscribe » Tafa Jefferson’s mother spent years working in healthcare, and she encouraged him to do the same. But Jefferson had different plans: He joined the NFL in 1996 as a Chicago Bear — then a career-ending injury set him back a year later. So he finally took his mother’s advice, becoming a certified nursing assistant, and in 1997, he launched Nurse Registry, an agency that worked with independent contractors. But years later, when he identified an increasing and overwhelming need for nonmedical care for seniors, he once again changed his plans. In 2006, he shuttered his registry business and started Amada Senior Care with business partner Chad Fotheringham a year later. […]

Read more

Why Painting With a Twist’s Founders Replaced Themselves as CEO

After 10 years, the founders knew the business was ready for the next stage of growth. But they weren’t sure they were the right people to lead the charge. July 15, 2019 15 min read This story appears in the July 2019 issue of Entrepreneur. Subscribe » Chris Hatten’s days were long and soul-fraying. This was back in 2012, when he worked at a residential treatment facility for children who had experienced deep trauma, and then spent his evenings worrying about his bills. “I was stuck,” he says. “I didn’t know what else I could do.” One day, on a whim, he walked into an art studio called Painting with a Twist that had recently opened in a renovated fire station behind his home in Skippack, Penn. The window was filled with colorful artwork; a promotion offered a blank canvas, two hours of painting with an instructor, and a finished […]

Read more

How Shaq Is Bringing Fun Back to Papa John’s

The basketball legend is the franchise’s new brand ambassador. He’s got his work cut out for him — but Shaq’s never been afraid of a challenge. July 9, 2019 15+ min read This story appears in the July 2019 issue of Entrepreneur. Subscribe » Like most of its stores, the Papa John’s on Wells Street in Milwaukee is primarily a carryout and delivery operation. The lobby fits only four chairs. So when 30 people crowd in, as they do on a recent Thursday afternoon when Shaquille O’Neal shows up for an impromptu pizza party, the sleepy joint suddenly feels like a nightclub.  “Shaq! Sign my shirt!” screams a grown man in a blue polo. “Sign mine, too!” echoes one of the store’s cooks.  Outside, people are pressing their noses against the plate-glass window as a man snaps a picture of his blond-headed son standing next to the 7’1″ NBA Hall […]

Read more

Use These 3 Strategies to Build a Thriving Franchise Organization

Xponential Fitness Founder and CEO Anthony Geisler shares the leadership secrets that have helped him build a boutique fitness empire. June 28, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. If you are developing a franchise organization, as a leader, it is critical to your mission to make sure that you are clearly communicating your beliefs and strategies to prospective franchise owners. The boutique fitness industry is at an all-time high, according to The International Health, Racquet & Sportsclub Association (IHRSA). Consumers have found that smaller studios offer more convenience, variety and customizable workout plans and courses compared to big box gyms. The IHRSA also found that between 2012 and 2015, membership at traditional gyms grew by 5 percent, while membership to boutique studios grew by 70 percent. One growing franchise organization in the boutique fitness industry is Xponential Fitness. They are a multi brand franchisor […]

Read more

Why This Oakland Cop Became a Subway Franchisee

Kiesha Haggerty has found the two worlds to be surprisingly complementary. June 3, 2019 4 min read This story appears in the June 2019 issue of Entrepreneur. Subscribe » Kiesha Haggerty has what might seem like two extremely different careers. She’s a 20-year veteran of the Oakland, Calif., police department, and the owner of a Subway franchise. But to her, the careers work in perfect harmony: Both are about connecting with and serving a local community — and police work, she’s discovered, can be a great training ground for stellar customer service. (It’s also what turned her into a regular Subway customer.) Now she’s looking to go even bigger. After opening her first Subway in 2018, she’s working on her second — ­and plans to open it as part of Subway’s rollout of its Fresh Forward concept, a redesigned store that focuses customers’ attention on its fresh ingredients. What’s after that? […]

Read more

Why Entrepreneurs Should Believe They Are Unstoppable

Josh York, CEO of Gymguyz, talks about his rise from being a broke 20-something to franchising 265 gyms nationwide. Read_More Related posts: A Quick Guide to Intermittent Fasting for Entrepreneurs The Results From Our Survey of 10,000 Entrepreneurs Are In. How Do You Measure Up? How 2 Entrepreneurs Are Helping Brands Make Millions The Growing Influence of Women Entrepreneurs 15 Traits of Unstoppable People Nike Video Featuring Women And Sport In Mexico: Unstoppable Together Nike Video Featuring Women And Sport In Mexico: Unstoppable Together Entrepreneurs Need a Better Calendar App Than the 2 Everybody Uses

Read more

By Supporting Its Franchisees, Kona Ice Enables Them To Better Serve Local Communities

The shaved-ice franchise focuses on community engagement to build year-round demand for the warm-weather treat. May 1, 2019 4 min read This story appears in the April 2019 issue of Entrepreneur. Subscribe » When Tony Lamb started Kona Ice in Kentucky in 2007, he had a simple mission: resurrect the ice-cream-truck business by serving tasty, affordable shaved ice out of a modern, playful truck with a self-serve flavor bar. He anticipated some success, but he got a runaway hit. Kona Ice now has more than 1,100 franchise operations throughout three countries, and thanks to some savvy feedback and ideas from franchisees in icier climes, the company’s sales thrive even when snow is falling. Despite the significant growth over the past 12 years, Lamb still runs the business like he did when it first launched: Take care of the franchisees so they can take care of their communities.  Related: How an Incubator […]

Read more

Former NFL Star Jason Avant Has a New Career — In Trampoline Parks

The athlete found a second act as a Launch Trampoline Park franchisee. April 30, 2019 4 min read This story appears in the April 2019 issue of Entrepreneur. Subscribe » Jason Avant has always been in the entertainment business. The former NFL receiver is an athlete by trade, but the business of football, he says, is about making sure fans have fun and providing them with an escape from reality. “That’s what football is,” Avant says.  Football is, in fact, what provided Avant with his own escape from reality decades ago. He grew up on the South Side of Chicago, where both drugs and violence were prevalent. When Avant discovered football, he found something much more worthy of his energy — and he also found his way out. He played college football at the University of Michigan before signing with the NFL, where he played for the Philadelphia Eagles, the […]

Read more

5 Steps of the New Model of Revenue Recognition for Franchisors

The new rules around revenue recognition are lengthy and complex. Here’s what you need to know. September 21, 2018 6 min read Opinions expressed by Entrepreneur contributors are their own. Like businesses in most industries, the new revenue recognition rules put forth by the Financial Accounting Standards Board (FASB) — and effective as of Jan. 1, 2018 for public companies and Jan. 1, 2019 for private companies — have specific and significant implications for franchisors. These rules require the attention of franchisors and their accountants and attorneys now and will continue to necessitate consideration in years to come. This summary describes how specific areas of revenue recognition will impact franchisors. Related: The 10 Best Franchises to Open in 2018 Within the new standards there are five steps outlined for revenue recognition. Step 1: Identify the contract with a customer. This step will typically be straightforward for franchisors because they have […]

Read more

These Roommates Changed Their Lives for a Sandwich — and Built a Franchise Empire

Ashley Morris and Jason Smylie have known each other since they were eight years. Here’s how they maintain a healthy work relationship today. September 17, 2018 4 min read Opinions expressed by Entrepreneur contributors are their own. This is a great American success story about two childhood friends who had a vision, then realized their goals by implementing old-fashioned hard work and persistence with amazing business strategies. Ashley Morris fell in love with a cheesesteak from Capriotti’s Sandwich Shop while in college at the University of Nevada Las Vegas (UNLV). Morris worked his way up from bank teller to a top-performing broker at Wells Fargo, and by 23, he was one of the youngest portfolio managers with a successful and thriving book of business. But, he couldn’t stop thinking about those amazing cheesesteaks. Morris kept telling his buddy and college roommate, Jason Smylie, about the shop. Then, Smylie also fell […]

Read more
1 2