Don’t Open a Franchise unless you have Dedication, an Open Mind and Honest Communication.


We are now accepting applications for new Ritter’s Frozen Custard franchise opportunities in select markets. Please call 800-212-5416 for franchise info and details.Please see this article featuring our franchisees John & Renee Dame. It is truly inspirational as well as informative. www.ritters.com

Why You Need Dedication, an Open Mind and Honest Communication to Open Any Franchise
From Entrepreneur.com
By Kate Taylor

Kate Taylor is a staff writer covering franchises for Entrepreneur.com. Related areas of interest include chain restaurants, franchisee profiles and food trends. Get in touch with tips and feedback via email at [email protected] or on Twitter at @Kate_H_Taylor. Franchise Players is Entrepreneur’s Q&A interview column that puts the spotlight on franchisees. If you’re a franchisee with advice and tips to share, email [email protected]
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Why You Need Dedication, an Open Mind and Honest Communication to Open Any Franchise

After 16 years in the custard business, you learn a thing or two about entrepreneurship. Renee Dame opened her Ritter’s Frozen Custard location in 1999. Today, she’s assisting the franchise in training new franchisees and recruiting new franchise owners. Here’s what she has learned.

Name: Renee Dame

Franchise owned: Ritter’s Frozen Custard, in Port Orange, Fla.

How long have you owned a franchise?

We purchased our franchise in 1997 and opened in 1999.

Franchising offers much better and easier opportunities for growth. It offers a structured environment with guidelines already in place to offer a greater chance at success. Also, when you buy into a Ritter’s Frozen Custard franchise you are buying into a pool of entrepreneurs who are like-minded, in the same business and all looking to build a brand.

What were you doing before you became a franchise owner?

I started working for the federal government in 1979. I got married in 1996 and continued my government job just before we purchased our franchise. I continued to work this job for three years after the business opened, as well as working in the business at night. I left that job in 2002 to be able to dedicate more time to Ritter’s with regards to training staff and growing the brand. In 2009 I went back to work for the government to finish my years for my retirement. In 2014, I retired from the federal government and now dedicate 100 percent of my time to the business.

Why did you choose this particular franchise?

The number one reason we chose Ritter’s Frozen Custard was the quality of the product. With my husband having 25 years of experience in a high volume franchise system, we knew this would be a great opportunity to help grow the brand and take it to the next level. I was also impressed with who they stood for – meaning, they were a family-oriented business delivering a great experience to families across the country. They wanted the business to be a destination for everyone, young and old.

How much would you estimate you spent before you were officially open for business?

The total investment required to open a Ritter’s Frozen Custard Shoppe varies depending upon store type. A strip (inline) center investment ranges between $358,500 and $589,400, depending upon square footage and location. The investment for a freestanding prototype is between $496,000 and $899,500 plus land and site development cost. These figures include the franchise fee, leasehold improvement, furniture, fixtures, equipment, signage, insurance, and initial inventory.

Where did you get most of your advice/do most of your research?

With my husband having been in a large franchise system for 25 years, we were aware of how a franchise system worked. We contacted other owners of this franchise to get their feedback on cost, operations, etc. We also contacted some of the suppliers that had been working with the brand for years. Their information indicated how well the businesses were doing. We also searched the internet, and found information from customers of the other locations, as well as business information pertaining to the other locations.

What were the most unexpected challenges of opening your franchise?

Overall, the process was not very difficult. We had a great construction team, and the franchisor was very helpful with any situations that came up. Our biggest challenge, was dealing with the city officials. Due to the shape of the building, the color of the roof, etc., our city was very skeptical. We finally were able to agree with the pitch of the roof and the color, then we had to change the color of our umbrellas to match the roof. That is just a little picture of the things we had to deal with, when it came to the city. The franchisor provided all we needed to get built and get open, as well as training our staff. In the end it worked out nicely.

What advice do you have for individuals who want to own their own franchise?

Dedication – you have to be aware of what is going on in your business. You have to be involved. Your staff needs to know you and what you stand for.

Open Minded – you will be expected to help others, whether it be your own staff, other franchisees, or even the franchisor. Follow the guideline and rules, and make suggestions to the franchisor, rather than doing it your way. There is a system in place for a reason. Remember you still have a boss. For a franchise system to be successful, ALL franchisees must follow procedures, guidelines and standards that have been established for them. If each franchisee did it their own way, it breaks down the system. Your customer should have the same experience, regardless of which location they visit.

Feedback and communication – you must communicate with the franchisor including any struggles, ideas, successes, etc. Sharing this Information can help grow the brand. Also, communication with your employees will help set goals and expectations for them. Praise them when they do a good job, and counsel them (in private) with any struggles they may be having. They will do a great job for you, if you allow them to.

What’s next for you and your business?

After 16 years operating the business along with my husband, we are currently taking a new direction to help grow the brand. In addition to training and developing my own crew, I am now assisting the franchisor in training new franchise owners for Ritter’s Frozen Custard. This includes training them at my location for one week to prepare them to open their location. Then when the time comes, I travel to their location for approximately two weeks where I assist in setting up the location, training their staff, assist in the opening of the location, and then stay for a few days to work out any issues. It is my pleasure to do this and watch others be successful as we grow the brand.

In addition, we are currently in the process of becoming area developers in Florida for the central region and East Coast. The franchisor still needs to receive approval from the state of New York, and we need to obtain the financing, but we are extremely hopeful.

Our goal is to assist Ritter’s Frozen Custard in finding new franchisees in Florida. We would help the franchisees in finding locations, building issues, training, etc. The bigger we can grow the brand, the more cost effective it becomes for everyone. We are looking forward to what the future holds
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Kate Taylor is a staff writer covering franchises for Entrepreneur.com. Related areas of interest include chain restaurants, franchisee profiles and food trends. Get in touch with tips and feedback via email at [email protected] or on Twitter at @Kate_H_Taylor. Franchise Players is Entrepreneur’s Q&A interview column that puts the spotlight on franchisees. If you’re a franchisee with advice and tips to share, email [email protected]

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We are now accepting applications for new Ritter’s Frozen Custard franchise opportunities in select markets. Please call 800-212-5416 for franchise info and details. www.ritters.com

Don’t Lose Sight…Success Starts and Grows with a Vision

My opinion is that “true” mom & pop operations are typically built upon the foundation of relationships, and it’s the strength of those relationships that build the foundation of a strong organization complete with common beliefs, values and mission. It definitely becomes an interdependent relationship.

Success… It Starts and Grows with a Vision

This article is written by Paul Segreto, CFE
CEO Franchise Foundry, Top 100 Champion 2014 Small Business Influencer Awards
Feb 20, 2015

In a recent interview, I was asked my opinion about why some Private Equity firms fail in their efforts at operating what was originally considered a successful franchise system, while others take the system to even higher levels of success… As you’ll see by my response below, I actually started at the end and worked backwards. But in the end there is a common theme and its built around relationships, or lack thereof. Certainly, systems play a big part in the success equation but losing sight of “people” is a sure way to create a disconnect, even within the most perfect systems. My response and theory may be too simple for many to agree, but I do feel it lends towards the foundation of any successful business in one way, shape, fashion or form.
“All too often you hear about founders buying out the Private Equity firm. I personally, know of two that have done so recently, and for different reasons. And, even though only one was a franchise company, there was a common denominator in the circumstances that had developed within the organizations that led to the founders deciding to buy out the PEs… the “parent” company lost sight of its relationship with its “employees & franchisees” and the end-users, “clients & customers”.
My opinion is that “true” mom & pop operations are typically built upon the foundation of relationships, and it’s the strength of those relationships that build the foundation of a strong organization complete with common beliefs, values and mission. It definitely becomes an interdependent relationship. I have rarely seen that occur when PEs get involved where it’s more numbers, numbers, numbers. Don’t get me wrong, numbers are important. But, it’s the lack of balance between driving towards making the numbers and building relationships that is often missing. Ultimately causing rifts in the organization with the customer or client feeling the lingering effect of diminishing service levels.
Let’s look at a similar situation that occurs all too often in a very typical mom and pop setting even without the inclusion of a PE in the equation. Mom and Pop have run a very successful business for 25 years. They have done quite well over the years, building the business very methodically, never taking on too much debt at any one time. But still progressive in growing to meet customer demands. Sure, their product or service stands out as excellent. But it’s the relationships they have fostered over the years that have truly made the business successful.
Looking ahead, Mom and Pop have structured a very strong succession plan. Junior has gotten his MBA and is primed to take over the business. In fact, Pop has insisted that Junior also work five or so years out in the corporate world so he can gain some hands-on experience, and mature. Mom and Pop have met with their attorney and CPA and have everything in place for Junior to take over the family business. What’s next is a situation that occurs all too often when Mom and Pop are no longer in the picture.
Junior, complete with new ideas, a wealth of education, and some successful business experience, begins operating the business. He introduces new technology, replacing the antiquated systems that had been in place since day one. Junior streamlined operations, improved inventory control, and basically tweaked here and there to the point that the business appeared to be transformed to a business that appeared bigger than it was – almost like it was a part of a national chain.
Initially, customers loved the transformation and the buzz within town was full of praise and admiration for the family. But what transpires over the next few years as things begin to change as the business becomes less personal and more structured is actually the beginning of the end.
Strict policies have been put in place for both customers and employees. Product and service lines have become more defined, but at the expense of some customer favorites being eliminated. Customer service, having become more automated has reduced the necessity of a large staff. In-store signage has taken over where courteous employees once stood. Well, the list goes on… to the point of the business losing sight of people and relationships. Employee turnover continues to increase. Customers’ faces are no longer familiar. And, when a true national chain opens on the edge of town, foot-traffic starts to diminish.
You see, with all the great succession planning that Mom and Pop painstakingly put into place, they missed a key component to the success of the business. And when Junior transformed the business he also lost sight of that key component. It basically comes down to WWPD… “What Would Pop Do?”
WWPD is basically the relationship part of the business. To put it simply, Pop knew when to put his arm around an employee. Pop knew when to come out from behind the counter. Pop knew how to make a customer feel special. Pop knew to carry certain items that some of his “regulars” loved. And, again, the list goes on… Pop knew, but Junior didn’t. It’s the classic example of the disconnect between WWPD and MBA, and it’s a similar disconnect between a founder-run business and a PE-operated business.
Now, I’m not saying that it can’t be done, or shouldn’t be done… meaning the sale of a successful business to a Private Equity firm. Absolutely, it’s the American Way! Instead, along with the financial and legal succession plan needs to be a visionary succession plan that basically outlines and teaches, “What Would Pop Do?”
So, in addressing the original question, let’s just insert Mom and Pop for the franchise, the employees and customers for the franchisees, and Junior for the PE… and the scenario fittingly plays out.”

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ABOUT THE AUTHOR:
Paul Segreto brings unique perspective, entrepreneurial spirit and extensive industry experience to franchise management and development. For over thirty years he has exclusively served the franchise industry as consultant and coach, senior-level corporate executive, advocate, multi-unit franchisee and area developer.

Dedicated to franchise success at all levels, Paul has consulted with founders and franchise executives of start-up and emerging franchise concepts, franchisees experiencing difficult challenges in their daily operations, and with independent small business owners discovering franchising as a business expansion strategy or income diversification plan.

Understanding the franchise sales process from lead generation through franchise award, and the importance of forming an interdependent relationship between franchisee and franchisor, Paul has successfully developed and executed marketing and development strategies for franchisors across a variety of franchise segments.

As franchise candidates and consumers have become more sophisticated and technologically advanced, Paul has embraced social technology and social media marketing, and has identified both as essential to future franchise growth at all levels. Developed, “Get Off Your Ass Marketing!” and other successful revenue and profit generating programs for franchise organizations in the United States and abroad.

Paul is the founder and host of the popular internet radio show, Franchise Today, has co-founded FranSummit, a virtual training platform to provide effective eLearning solutions for the franchise community, and founded Personal Branding for Franchise Professionals to assist all who work within franchising to develop personal branding strategies to align individual experience and expertise with brand and business development. He is an active member of various franchise associations including International Franchise Association (IFA).

Specialties:Paul is a recognized franchise and social media expert and frequently serves as a guest speaker / topic leader for webinars, focus groups, strategy and sales planning meetings, training sessions and industry panels. He is frequently called upon to utilize his expertise in the development of articles for industry blogs and publications, and training programs for companies and organizations within the industry.
Contact Paul: http://franchisefoundry.com/our-team/
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Top Rated Food Franchises www.trufoods.com

10 ways startup CEOs can create an innovative and adaptive culture

Many startup CEOs feel they have to shoulder everything. The team never knows about their weaknesses. They never know about all the uncertainty. They never know what the CEO is dealing with.

10 ways startup CEOs can create an innovative and adaptive culture

We’re all remote. One day, I was checking updates in Basecamp from my team. I saw a comment that caught my attention. It was from Crystal, who was working on research. Her comment wasn’t specifically related to what she was working on, but she wanted to share because she thought it could be useful. It was… Continue reading “10 ways startup CEOs can create an innovative and adaptive culture”

Top Reasons Why You Should Consider Buying A Franchise

With franchises, you are virtually buying a proven formula for business. Buying a franchise, not like starting a business from scratch, means instantly getting a proven path to financial success. Everything from advertising campaigns, accounting systems, hiring methods to ordering procedures is done by every franchise within a certain company using the same tested methodology.

Top Reasons Why You Should Consider Buying A Franchise

Author Sidney Morrison

This article lists some of the top reasons why you should start getting into the business of franchising.

In the list below, you will see the top reasons why you should buy a franchise:

With franchises, you are virtually buying a proven formula for business. Buying a franchise, not like starting a business from scratch, means instantly getting a proven path to financial success. Everything from advertising campaigns, accounting systems, hiring methods to ordering procedures is done by every franchise within a certain company using the same tested methodology. All of these facets have evolved over time to provide you with best possible business practices. You will surely never be at a loss for what to do in any given situation. Simply consult your operations manual or ask another franchisee. It’s that simple.

One more thing with franchises is that you are representing a big brand. So what’s the importance of this? Ok, imagine yourself opening your own coffee shop, next you name your shop with something that would easily tell people that your shop is all about coffee, let’s say you call it “Supreme Coffee” and see how much time it takes before people get to recognize that you’re providing good tasting coffee at reasonable prices. The average new business takes from 12 to 18 months to “find its target market”. Now, go open a StarBucks (provided you are on a good location) and see how much time it takes for people to come flocking in. Maybe a day max, and that’s a conservative estimate. You see the difference? Actually, even lesser known names that carry a national or regional cache have a huge advantage over a single owner spot.

Another thing to like about franchising is that in many cases, corporations that franchise their operations to independent buyers provide in-house financing at some very attractive rates. This can come in especially handy once you’re on your feet and are considering on expanding your reach. Franchisors just love to see their owner operators open multiple locations, it’s to their credit anyway. It provides them with additional exposure in a particular market, plus it’s a great selling point to show off to prospective buyers. It’s equivalent to telling people “Would you look at that? Our franchisees are SO successful that they can’t help but build more stores.”

And Surely, the highly sophisticated training you get from these companies is another thing to like about the whole thing. Every franchise for sale has a dedicated training program for its new owners. In many cases, you will be asked to go to the home office and spend days or even weeks learning everything you need to know about running one of their franchise stores. And of course, the company’s trainers have been training scores or even hundreds of franchisees before you, so most of the time, these trainers have developed a way to make the whole training regimen sleek, sophisticated, and simple to understand.

And what’s more is that the support doesn’t stop after you finished your training. These franchise companies offer regular support and ongoing training. The home office is there to provide regular support as long as you’re a member of their family. As new products are developed or current business thinking evolves Computer Technology Articles, you’re a part of it all.

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ABOUT THE AUTHOR

Go to Toddler Toys to read reviews of the best toys in the market like the Little Tikes School Bus Activity Gym.

Franchises – Success and You

There are no guarantees in life, or in franchises. There are those occasions when franchises are not profitable, lose money, and close. Although most franchises provide a proven business system, not all OWNERS are proven.


Franchises – Success and You

by Ernie Horning

Many people believe owning a franchise will make them rich, financially secure, and provide the life of their dreams. True, franchises have an extremely high success rate, and a very high satisfaction rate among their owners. But is that success guaranteed when you purchase a franchise? NO!

There are no guarantees in life, or in franchises. There are those occasions when franchises are not profitable, lose money, and close. Although most franchises provide a proven business system, not all OWNERS are proven.

Many enter into the franchise system, thinking all they have to do is come up with the money to get the business open, and it will run itself and they will make money. I don’t how many times I have had a prospective franchisee say to me, “I want a franchise that makes a lot of money”. Well, I have news for you, it’s hard work.

You have to WORK the system provided by the franchise. Many franchisees have impressive backgrounds and education, many from established positions with top companies. However, some have a difficult time doing “whatever it takes”, to run the business. Whether it be marketing or sales, to taking out the trash and cleaning the restrooms, nothing should be beneath you to keep your business operating and profitable.

If you want be a franchisee, accept the fact that you will have a “franchisor” guiding and directing you. They have at much at stake as you, and their reputation is on the line. Remember your success is their success, so they will provide feedback, support, and direction with your business. However, some new franchisees, coming from corporate positions, may feel they don’t need any direction and know best on how to run the business. This can be disastrous. The better franchises have spent years developing their systems, FOLLOW THEM!.

Learn every job and every position of your business. Be able to step in and help when needed. Be ready when employees quit, don’t show, or simply think you can’t manage without them. I can tell you from personal experience, all these things happen. The last thing you want is one of your employees having an upper hand with YOUR BUSINESS, because you can’t do their job.

Be able to accept the fact that you don’t “know it all”, regardless of your past experiences and expertise. Listen to your franchisor and other franchisees. It is your business, but they have been doing it longer. Utilize their knowledge and expertise. The wrong attitude coupled with a few bad decisions may jeopardize your investment and your dream.

Remember, the one major variable in a franchises success is you. A franchise can be a very rewarding and profitable business when operated the right wayScience Articles, by the RIGHT PERSON!

(Copyright 2005-ehbvi www.businessventureinc.com)

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ABOUT THE AUTHOR

Ernie Horning is a Franchise Consultant and owns multiple businesses. He is also a former franchise owner, and writes articles for http://www.businessventureinc.com

Do You Really Want to Buy a Franchise?

Being in control of your time, your effort, and hopefully, your income are very powerful driving forces. There is something about being self-employed that appeals to the vast majority of us, even though to most, it will sadly remain a dream.


Do You Really Want to Buy a Franchise?

Premium Author Robert Andrew

It may seem obvious but if you’re considering buying a franchise, it’s critical that you have a clear understanding of what a franchise is. The term “franchise” is not easily defined in simple terms.

Next to owning your own home, owning your own business has got to be the one thing most people aspire to. Both are underpinned by that sense of freedom, of not being controlled by others, that is at the heart of our very own identity.

Being in control of your time, your effort, and hopefully, your income are very powerful driving forces. There is something about being self-employed that appeals to the vast majority of us, even though to most, it will sadly remain a dream.

Let’s explore the notion of being self-employed. What does it actually mean and what, if any, are the characteristics of the self-employed? This is usually the first jump on the entrepreneurial ladder and for most, it’s the only jump. In fact, most entrepreneurs never seem to get past this level of growth in their business.

The truth is you really can’t call it a business; you’ve really got to call it a job. What’s more, this job is most probably one of the worst jobs in the world. You might just be replacing one dufus boss with another…you!

Most people who start their own businesses don’t seem to know what they’re getting themselves into. In fact, most look at it as something glamorous, exciting, and with such a sense of new found freedom they’re fooled into believing wealth is just a few days, weeks, or months away.

It’s one of the biggest steps you’ll ever take and it could be one of the most rewarding choices you ever make. But most self-employed people’s relationships with money need to be examined.

As you may or may not know, the way you relate to money will determine your financial future. And, given you’ve only got one shot at this thing called life; let’s make sure you give it the best shot you can.

A self-employed persona has a very similar relationship to money as that of an employee. And we all know that as an employee you earn money. Earn is an active word. You earn by doing. With the self-employed, the word changes but the active participation usually does not. Most self-employed are still trading time for money but now they make money instead of earning money.

And anyone who is employed works for money. It doesn’t matter if you’re employed by someone else or self-employed. So if you are buying a franchise because you want to be self-employed, you might want to reconsider. After all, do you really want to be both the employer and the employee?

The real point in buying a franchise is so that you’ll own a business the produced passive residual income for you. That means letting others do the work while the franchise business makes enough money to pay the employees and still have enough profit left over to run the business and for you to live a comfortable life.

You’ll probably have to manage the business in the beginning but you might even want to hire a business manager down the road. At that point, you’ve taken yourself completely out of the business and it produces income for you while you sleep. And that’s the dream of most people. It’s not to be self-employed as many think. That’s a huge difference in mindset an attitude about money. Can you see it? If you can’t Computer Technology Articles, you shouldn’t buy a franchise. You can get a job and not have to worry about meeting payroll.

There’s more information available at http://www.franchise2day.com/

Article Tags: Ally Want

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ABOUT THE AUTHOR

Jim Monahan puts over 20 years of franchise experience at your fingertips. Avoiding these common mistakes when buying a franchise could save you a small fortune. Visit http://www.franchise2day.com/
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