MGMT 100-01, Spring 2013, Nichols College: 2013

Kruzel Builders from bhowe41294
The slideshare presentation doesn't display the video in my presentation. Here is what the black box was on slide 14. Sorry for the inconvenience.

Small Business Owner Interview

Hands that Heal Message Therapy from ztmckenzie

Small Business Owner Interview

Small Business Owner Interview from alracicot

Chapter 6 PowerPoint

Entrepreneurship from jafleury-lawson

Sunday, February 24, 2013

Small business Ownership

small business interview from dylanguyer

Small Business Interview: Carter Moots

Small Business Interview

Business Owner Interview

Little Steps Daycare Business Owner Interview

Friday, February 22, 2013

Wednesday, February 20, 2013

The Franchise I chose to write about was Jiffy Lube. They are a full service gas station that has been in the business of helping out everyday people with their cars since the late 1970's. Started by Jim Hindman in 1979; it was associated with the fast lube centers in Western Massachusetts. Jiffy Lube was picked up by Pennzoil Quaker State Co. in the 1990's, later acquired by Shell Oil Company in 2002. Jiffy Lube has now been franchised and is located throughout the U.S. and Canada totaling 2086 locations, also with a grand total investment between $196.5K - 304K.

I believe Jiffy Lube is not only a great idea and very worth investing in. Almost everyone has at least one car in their family which is used. All cars need oil changes and many people don't know how to do it or don't have the time to do it in their busy days. They offer a very reasonable price for the oil and filter especially with their swift efficient time. I personally will even use Jiffy Lube because I don't always have the time to do it myself.

Jiffy Lube stays out of the spotlight in all cases, no bad coming from within the company. The total investment is anywhere between $196.5K - and $304K as I stated before; also they have a Franchise fee anywhere from $0 - $7,500 with an ongoing Royalty Fee of 3%. Lastly the term of Franchise Agreement is 20 years and is renewable. The Startup cost, Franchise Fee and Equipment are all third party.

Jiffy Lube offers a loan broker FranFund, Inc. They assist in "negativing the lending process." Jiffy Lube trains their future franchise owners for 2 to 4 weeks at their headquarters, franchise location, and more. They have marketing support as in advertising, ad slicks, national media, regional advertising, and research tie-ins. Lastly, they have ongoing support such as Newsletters, meetings, toll free lines, grand opening, security, field operations, internet, and many, many more.

Carter Moots Franchise

KFC Franchise

KFC is one of the worlds most successfull corporations, and it is a first of its kinds in selling fried chicken, which i love. I have looked into statistics for this company of sales in the United States and across seas as well. To me this is the the safest investment i could possibly make. The starting price for a KFC franchise is 3 million dollars. Even though that seems quite expensive, in the long run it really is not because of the possible returns you can make. I am still debating where i would open this franchise whether it is in the U.S. or somehwere else even though i am confident i will make money anywhere.

I have never met anyone in my life who hates fried chicken, let alone Kentucky Fried Chicken. The reason i learned abou this franchise is because i wrote a huge research paper on fried chciken and realized how popular it is in the U.S. and internationally.

KFC serves more than 12 million customers each day in 109 countries and territories around the world. KFC operates 5,200 restaurants in the Unites States and more than 15,000 restaurants internationally. KFC’s parent company is Yum! Brands, Inc., the world's largest restaurant company in terms of system restaurants, with more than 37,000 locations in more than 120 countries and territories and employing more than one million associates. Yum! is ranked number 239 on the Fortune 500 List, with revenues exceeding $11 billion in 2008.
http://www.kfcfranchise.com/about-KFC-fried-chicken-business.php

Tuesday, February 19, 2013

McDonalds

McDonalds is going hard on a comeback according to the New York Times. Appearing on social media websites they pay big bucks to be a trending page because, it grasps the viewers’ attention and they wonder what is so great about McDonalds at this point in time. In 122 different countries around the world and about 30,000 different locations, McDonald is a worldwide company that is constantly booming serving over fifty-one million customers a day. It’s no wonder why McDonalds populates over 70% of local independent business owners.

On twitter they have things such as meet the farmers and their stories. I guess its comforting knowing that their food isn’t totally processed judging by the videos that they share. The warm and fuzzy stories they were so post to come up with turned into this is where your food came from and these are the cows we slaughter so you can eat. Viewers on twitter said this campaign was a “#fail” not to menchin the documentary that came out in 2004 called Super-Size Me that was about a man who ate only McDonalds for one month is still effecting how people view McDonalds. When it truly comes down to it McDonald is still leading, they get more customers than Wendy’s and Burger King. The question is how is that possible. Well that answer remains unknown, but with all the bad publicity they still manage to stay on top.

McDonalds is not a cheap place to open up. Right off the bat you are tied in for 20 years. It cost $45,000 to start up a McDonalds and you have to pay that fee every 20 years. It may not be that bad once you have it going, but it’s a lot of money to start up. Then also add the royalty fee at a whopping 12.5%. They predict that your total investment should be around $118,375-$1,900,000. On the plus side advertisement is free. For training and support they offer only support in “Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives”. I believe that McDonalds would be a good franchise to own, it’s always busy it out beats a lot of fast food places and even when something happens that affects their company it always ends out okay in the end.

Derek Bedard 3rd Post

One of my favorite franchises of all time is Domino's Pizza. They always please me and have never ruined their reputation of being the best. They are so appealing because of how successful they have been. Everywhere anybody lives, they most likely have access to a Domino's store nearby. With over six thousand stores in, America, Canada, Europe, and Africa, they are not a hard franchise to find. They are also a very liked all around the world and are very popular in India as well. They are attractive to franchise owners because of how popular they have become. To start a Domino's franchise, the total investment can range from $119,950-$461,700. The fee for this franchise is $3,300 with a 5.5% royalty fee. It can be fairly pricy to start a Domino's franchise, but if someone is able to supply the total investment amount, they will be greatly rewarded. For most people, however, this is too steep of a price. Domino's, unfortunately, does not off very much in terms of financial aid for new owners. They offer a third party, but not much else. I feel as though this negatively impacts them because they lose out on any potential successful owners who cannot raise the appropriate funds necessary to start. If they offered at least some sort of aid to potential owners, they might see great benefits in their future. Domino’s does however, offer training and support to their franchise owners. They offer newsletters, meetings, Internet, security procedures, field operations, and evaluations as support to their owners. Domino’s is a very friendly franchise that does not get involved with all of the drama found on the news today. So many well-known franchises are getting caught performing acts that are not exactly socially acceptable. Domino’s keeps a clean track record which is always good for attracting new buyers. Nobody wants to own a franchise that constantly receives bad reviews. That is not good business. Luckily, Domino’s is not one of those franchises and keeps a clean name everywhere. Domino’s is one of my favorite franchises. They are also a great investment to those interested in owning their own franchise. So if you are interested, it is definitely worth a try.

Wendy's

When looking at all the franchises, I came upon one that I really liked. I picked Wendy’s. I choose Wendy’s because I love their food and it is one of the top fast food restaurants around. It was number eight on the list of franchises. I feel if someone would was going to about to own a business for the first time; I think that Wendy’s provides a great opportunity for success. David Thomas founded Wendy’s in 1969 in Columbus, Ohio. The restaurant was named after Thomas’ daughter Melinda. Yeah, you might think that is a little weird but her nickname was Wendy so that’s where he got the name of the restaurant. By 1985, there were already 3,000 restaurants. That is amazing in how short of time that happened. Today, there are over 6,600 restaurants worldwide. The thing about fast food restaurants is that they can have some competition. Wendy’s has two main competitors in the fast food chain. One is McDonalds, which is the number one franchise on the list. And the other is Burger King, which is number ten on the list.

The franchise fee for Wendy’s is about $25,000 today. But there is also a loyalty fee that is about 4%. The total investment of Wendy’s would be between $250,000-$600,000. That might be a lot of money and a big range to think up for a franchise but a business like this can easily make their money back fast because of todays society. When I say they can make their money back fast because of todays society, I mean that a lot of people today get fast food because they are very busy people and don’t have the time to cook food at home.

Wendy’s has been in the news lately. During the holiday season they sponsored CBS’s “A Home For the Holidays” adoption special. They would donate up to $250,000 to the organization to help out.

Wendy’s does help with financing too. But it all depends on a few certain factors and the terms would have to be taken up with the lenders themselves. They also offer training for starting up in the franchise. The franchisee, the management and the employees must complete a training program by Wendy’s standards. The training program is between 20-24 weeks in the classroom and on the job training.

Franchise

Boston’s The Gourmet Pizza has unique traits that make them different than other restaurants. This restaurant and bar consists of a full service, pizza themed, offering a variety of great dishes. Their atmosphere involves a nice sit down family dining area along with a separate sports bar side. This makes it very welcoming to a different variety of people. There are 50 of this franchise in the U.S. and 350 in Canada as of 2010.

The franchise is an attractive opportunity for a couple different reasons. They have a fun and exciting atmosphere that makes it enjoyable for the customers who go to the restaurant. The bar side of it helps to attract sports fans and anyone who can drink. Their food also adds to this. The menus consist of a variety of food that can appeal to multiple people. They also added gluten free dessert to their menu. Not a lot of restaurants have this so that definitely attracts more people. This franchise has been in the news for all good things. Most of it has been for their growth. They are expanding a lot in the U.S, Canada, and Mexico. They were also in the news for partnering up with St. Jude Children’s Hospital to create a gluten free dessert for their fundraiser.

The initial fee for this franchise is 50,000. To be considered a candidate for the franchise you would need to demonstrate at least $1,500,000 in net worth and at least 600,000 in liquid capital. The royalty would be 5%. From what I see, the franchiser does not offer any help with the financing.

This franchise offers individualized training and support. They use different methods to increase knowledge around operations, functional roles within the restaurant, POS features and management fundamentals. They will also receive support on an individual and regional level by marketing. This involves, print and broadcasted advertisement, media buying, public relations, and promotions.

FroZenYo

The franchise that caught my eye was the franchise of FroZenYo. This is a business in self-serve of frozen yogurt in Washington D.C. in 2009. Today this franchise has grown rapidly and has expanded throughout the US and internationally.

This franchise an attractive opportunity because it is a simple operation product and it allows the customer to create their own frozen yogurt the way they want it. you can put as many strawberries you would like with out asking for someone else assistance. It creates something new for the customers with every time they visit. Having multiple different flavors and toppings. This makes every visit different every time, making it fun and unique with every creation you make.

The franchise was in the Washington Post October 14, 2012. This article states that the franchise is trying to expand and go world wide. They signed a 5 year contract with Franchise Freeway to continue expanding their frozen yogurt chain. With the expansion of the franchise they have sold more than 1000 franchise worldwide.

If one is interested in owning their own business in this franchise it would cost $25,000 for the first purchase of the franchise and $15,000 for the second purchase. A 3 store multi-unit territory rate is $55,000. Ongoing and royalty fees per FDD per year based on average sales is $40,882. Finance can not be applied directly. The only option of financial assistance was an SBA loan that you must be approved for. The typical franchisee needs $120,000 in liquid assets and approximately $500,000 net worth. But FroZenYo does has experience assisting franchise candidates with other sources of financing including home equity lines of credit and self-guided IRAs.

After making the purchase of the franchise FroZenYo provide ongoing support and training. First, they will help you find a location for the business. Second, they will help you construct the business. Third, they will invite you to attend our training program in Washington, DC. Fourth, they will a team to assist in the hiring of employees and preparing for the Grand Opening of your FroZenYo. Fifth, they will have a member of our operations team assist in store operations as you open for business to ensure a smooth and successful Grand Opening experience for you, your employees and your customers. And lastly, they will provide you with ongoing operational and marketing support to make sure that you are operating a great FroZenYo franchise.

shamrock burgers

Shamrock Burgers is a fast food restaurant franchise expanding across Ontario. This fast food restaurant opened up in 1970 and became a franchise in 2011. It is a family owned business and has been growing for over 40 years. It differs from other crowded fast food restaurants by offering an edgy and youthful "Rock" alternative. In each restaurant there is a wall that customers can write on.This franchise has a contest called the World Monster Sham Eating Contest. This contest was on the news and brought a lot of publicity. It entails eating as many 10oz burgers as possible. The news revolving this franchise is all positive and compliments its good service, food and exciting environment.

Shamrock Burgers Start-up Costs & Franchises Fees

Total Investment: $200,000-$260,000
Initial Franchise Fee: $20,000
Royalty Fee: 5%
Advertising Fee: 1% Nat'l

At Shamrock Burgers they offer you 0% royalties for the first six months of operations.They take their commitment to your success and your profitability seriously.The franchise offers a financial assistance known as tenet financial group. As a franchisee the training will consist of 3 weeks covering all aspects of Shamrock Burgers including food preparation customer service, advertising, cash management, promotions and store opening/closing. Operational support will continue after the training as well. This franchise is highly visible, offers great service, growing brand name recognition, highest quality ingredients and has an edgy rock & roll environment. There homemade food has customers raving about this franchise. This franchise offers an amazing menu including there famous burgers and onion rings. They also offer prime rib steak, philly cheesecake chicken fingers and much more. Within a month Shamrock Burgers will have you behind the grill and working in no time.

Franchise Blog

LittleCaesars Franchise

This franchise as a very attractive option if you are looking to open a franchise. Little Caesars is one of the most successful carry-out pizza brands in today's market. They own the hot-n-ready business. When it comes to that, they are the only pizza place like it. Little Caesars is simple to operate and is easy to learn. Their head quarters provides world class marketing. Little Caesars has not been in the news for anything good or bad. But they have been on T.V. for their commercials.

The initial franchise fee for Little Caesars is $20,000. There can be additional fees, ranging from $173,050 to $599,500. This is from several things which include:

· The location of the building

· How much it costs to build the restaurant

· The ovens and other supplies needed to make and sell the pizza

There are no other fees when franchising a Little Caesars . Little Caesars does not have a royalty fee that is paid monthly.

The Little Caesars Franchise does not help with financing the restaurant.

Little Caesars has an eight step process for franchising with them.

Step 1: You have to submit your application to Little Caesars

Step 2: 3 to 20 Days- Your application is being reviewed by Little Caesars

Step 3: 10 to 30 Days- Qualified Applications are sent the Franchise Disclosure Documents

Step 4: 20 to 40 Days- After documents are returned and a Franchise License Advisor will contact you, and schedule you to a Discovery Day

Step 5: 7 to 25 Days- You are notified whether or not if you have the opportunity to become or not become a franchisee

Step 6: 20 to 100 Days- Accepted franchisee's are required to attend a real estate training and site selection class

Step 7: 60 to 120 Days- After the real estate training and site selection class, franchisee's are required to attend a six week in-store operations training program. Also construction can begin during this time

Step 8: Grand Opening!

This total process can take anywhere from one hundred -twenty days to Three hundred sixty-five days.

Motel 6

Recently, I came across some information that might be of some interest to someone that is looking to invest in a franchise or start one of their own. G6 Hospitality is one of the nation's largest owner/ operators of the nations lodging. They have found the most success with the Motel 6 and Studio 6 brands. To show that Motel 6 has been a recent success, the article that I have found shows that there were a record high new openings in 63 in 2012 in different locations around the country all under franchise contracts. The room count for the recent addition rises above five thousand one hundred. With this many new contracts started within the Motel 6 franchise, there are many new opportunities for jobs and new vacation spots all over the country.

It seems like to the average person that all you would have to spend was the cost of all of the employees. That is completely wrong. Motel 6 is selling you the rights to use the company name but not putting forth any of the facilities. Personally, I am not willing to pay money to be allowed to use someone's name for my company. Clearly franchises are not for me.

As for the training, Motel 6 is willing train you as a new owner and operator of the franchise but after that it is up to you to complete the rest of the training.

Domino's Pizza

I feel like a great franchise to choose would be Domino’s. Domino’s is such a well known pizza place and has always kept a good reputation for how they do business. Domino’s was created in 1960 near Arbor, Michigan as a sole proprietorship pizza restaurant and is now the second largest pizza franchise known today, only behind Pizza Hut. I know that I have an app on my iPod that allows me to order my pizza. I think that’s crazy that a business is able to allow customers to do orders from apps on their mobile devices. I think Domino’s has started a new revolution and many other companies are going to start creating apps to better serve their customers. I think Domino’s Pizza is a great opportunity to buy as a franchise because with the way their reputation is and how well they are serving their customers, especially with technology access. The development of this app has definitely increased their sales of pizza and really boosted them up in great franchises to own. Domino’s not only keeps their customers best interest with everything they do, but Domino’s does it without causing any drama in the news. It is so easy for a company today to be found doing something that is frowned upon, but nothing negative ever comes up with Domino’s. All the news I have ever heard was good news, either about more specials for their customers or new coupons that customers can print off offline. All this great news and great press of Domino’s has allowed them to expand into other countries other than the U.S. The first foreign Domino’s was located in Canada and it just exploded from there. Domino’s is an LLC franchise that costs at the maximum $460,000 to set up and own, with the initial fee being about $25,000. Domino’s wants to make sure that all their franchises are customer friendly and to make sure that, they put new owners through training of human resources. Though Domino’s offers a lot of conferences to the owners they do not help with finances when new owners start up their own Domino’s. When starting a Domino’s franchise the owner will be faced with the opening cost, equipment, rent, furniture, ingredients, training, and insurance. I think Domino’s is a great franchise to invest into if you are interested.

UBuildIt

UBuildIt was founded in 1988 in Oklahoma City, Oklahoma by Chuck Warrender and its main goal was and continues to be, to provide an affordable way for people to facilitate and manage the construction projects of their homes.

The company lives off of their effort to high quality of work they put into their business. Their way of providing professional consulting is proven to work as seen by their great success. This is an attractive franchising opportunity due to the fact that is a very successful business that is easy to get your foot in the door. The owners of the company are more than willing to listen to anyone interested in franchising their brand and product. They bring a complete system to the franchisee, but allow them to come up with their unique ways of building that they have developed on their own.

With UBuildIt the franchise fees are not the most appealing but compared to some other companies are pretty affordable. The initial franchise fee ranges between $23,500 and $37,500 and a royalty fee of $750 or $1500 for a standard ten year agreement, with a renewal fee of about $10,000. One major benefit about UBuildIt is the fact there they do not have an advertisement fee, which is very appealing to many people wanting to start up. With everything tallied up the total investment into an UBuildIt franchise ranges between $50,000 and $225,000.

UBuildIt does have some financing help it offers its franchisees. However they mainly come in the form of start-up capital that the company provides. The start-up capital however is different from franchise to franchise depending on what is needed to get it off of the ground.

UBiuldIt provides many forms of training and support needed for the success of the franchise. Which includes, one, complete training involving, marketing, sales, operations, and construction consulting. Two, a start-up package. Three, preferred vendor programs to increase the franchisees advertising budge. Fourth, national media exposure on the website and beyond. These are just a couple of ways that UBuildIt offers training in.

Overall UBuildIt is a company on the rise that shows great promise in near future.

Golf USA Franchise

The franchise I chose to explore into was the Golf USA Franchise. I chose it because I love to golf and I'm interested to see what it takes to run a well known establishment like this one. What makes a franchise so successful is that their number one goal is to satisfy a customer. Also, they need to see flaws within their competitors and build off those to make sure they're getting the good business, not the competitor. This franchise is an extremely attractive one, especially because it can target almost and age, male or female. Both men and women love to golf, and as we know, as many people retire, especially down south, one of the most common activities amongst retirees is golfing. Also, is a very popular sport that people watch on TV, especially because of great golfers to like of Tiger Woods, Rory McIlroy, and Phil Mickelson.

Golf USA was recently in the news for opening nearly 20 new locations across the United States within the last year. This helps that they are in the news because it gets their brand name out there, which then attracts customers to go to their stores and buy products such as clubs, balls, apparel, etc. The initial franchise fee is anywhere from $34,000-$44,000. They have no advertising fee, however there is a royalty fee which is 2.5%. Training wise, they help with newsletters, meetings, grand openings, and working their website, http://www.golfusa.com/. Marketing wise, Golf USA focuses more on regional advertising because they 100 stores which are located in 32 different states. Don't be surprised if you hear a lot more about Golf USA in the future. They are quickly competing with stores like Dicks Sporting Goods and the highly recognizable, Golf Town.

Chuck E. Cheese

I would assume that most of you have been to Chuck E. Cheese’s at at least one point in your life. It is currently the largest family entertainment chain in the United States. Some of you may have even been lucky enough, such as myself, to have had your own birthday there at one point. I remember it like it was yesterday, my sixth birthday at Chuck E. Cheese’s, with about ten of my closest friends, or just everyone in my class at school that year. Looking back, it was probably the perfect place for a young kid to have their birthday party. My parents were probably all for it because everything was set up when we got there, the party area, the pizza and soda, the cake, everything. Afterwards, they staff would even clean up everything for you. This is a perfect example of why Chuck E. Cheese’s is a very “attractive” opportunity for parents to host a kids party. Of course, it is more expensive to host such a party versus having one at the house, however, all my parents were really responsible for was booking the party, watching my sugar in-take and of course, making sure I didn’t fall on my head from running around so much. Aside from birthday parties, Chuck E. Cheese’s is just a great place to take kids over school vacation or on the weekends to let them burn some energy and have fun. Its enclosed and makes for a mostly-safe environment. Chuck E.Cheese's is an "attractive" opportunity for someone looking to become a franchisee because they offer an established model with attractive unit-level profitability.

Chuck E. Cheese has been in the news only a handful of times within the past year. This past July, the franchise updated their mascot. As most of you probably know, the mascot has always been a mouse. However, now the mouse is thinner, carries a guitar and has more of a rock-star appearance. He even has a new singing voice. The main reason for the mascot makeover was to hopefully somewhat pull Chuck E. Cheese out of a sales slump.

The franchise fee for Chuck E. Cheese is currently N/A. However, the total cost to open one is anywhere from $1,171,500 to $1,834,500 and it can initially be bought for no money down. The liquid capital required is $800,000. The Chuck E Cheese franchisor does not offer help with financing. However, they do offer training and support through their support center. At the support center, their main objective is “to support the individuals at our restaurants who provide great service and hospitality to our Guests.”