FOUR TIPS TO STARTING A SUCCESSFUL FRANCHISE

Have a successful model. It is impossible to create a franchise program without having at least one successful operation, a pilot, if you will. It is not feasible to think that if your core business loses money and is unsuccessful, that a franchisee will be any different.

INTRODUCTION TO FRANCHISING
FOUR TIPS TO STARTING A SUCCESSFUL FRANCHISE

By Cambridge Who’s Who Lifetime Member and Contributing Author Harold Kestenbaum

My name is Harold Kestenbaum, and I am a franchise attorney. Many of you may want some information about what a franchise attorney does. I realize that franchising is not a well-known sector of the legal profession unless you work in the industry as either a franchisor or a franchisee. Here is how I became involved in franchise law.

In 1977, at my third job out of law school, I worked for a solo practitioner in Manhattan who represented many corporate clients, some of whom were publicly traded. One company happened to find the opportunity to franchise their business. One day my boss said to me, “Kestenbaum, I need you to learn about franchising opportunities, so that you can handle our franchise client.” Not knowing what in the world he was talking about (I had done everything but franchise law up until then) I found every book I could on business franchising information (there was no Internet in 1977) and for the next four years I immersed myself in franchise law. When New York State passed a new franchise registration law in 1981, I decided that it was time for me to become a solo franchise attorney and resigned my position. I have been practicing franchise law ever since.

Based on my years of franchise experience, I wrote a book, So, You Want to Franchise Your Business, that delves into the opportunity a company embarks on the franchise path. It includes the dos and the don’ts of how to franchise your business. In my book, my co-author, Adina Genn, and I discuss what makes a company have the right opportunity for franchising and how to go about turning a successful business into a franchise company. Here are a few key tips from my book:

1. Have a successful model. It is impossible to create a franchise program without having at least one successful operation, a pilot, if you will. It is not feasible to think that if your core business loses money and is unsuccessful, that a franchisee will be any different. It is imperative that your franchisees be successful, otherwise franchising opportunities will not work.

2. Make sure your business model is replicable. You must be able to build clones of your operation, otherwise, the system will not work. Have you ever seen a McDonald’s without the infamous golden arches? That is just one example, but it goes beyond the look. It is the method of operation that must be duplicated in order to have the opportunity to franchise.

3. Attain capital for your franchise. You must have capital in order to roll out the franchise program. You cannot believe that franchising will cure your cash flow issues, you need to have money in order to roll out the program. Do not view the program as a way to fund an undercapitalized business model.

4. Prove your model works! The concept that you are trying to franchise must be lucrative. You must demonstrate that your concept works before you try to offer it to the public as a franchise. If the business model is a failure, your franchisees will inevitably fail as well. Franchising can be a wonderful business opportunity, but your initial model must work first, otherwise franchising will not be possible.

Why franchise your business? That is a very good question. But to those of us in the business, the answer is quite obvious. If you want the opportunity to grow your business beyond one or two stores, and you cannot afford to build more units at, for example, $500,000 each, then what better way to grow than to let a franchisee buy a franchise and build the unit himself or herself for that amount, and you simply receive the weekly royalty of 5% or 6% of gross revenues? Franchising is a vehicle for growth using the capital and human resources of someone else (the franchisee). How great is that? It is simple, yet complex. The franchising relationship goes much deeper than building the unit and collecting royalties. It is a starting place for companies that want to grow but do not have the internal capital or human resources, like Starbucks, to do it by themselves.
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Learn how to FRANCHISE YOUR BUSINESS and collect royalties! www.franchisegrowthsolutions.com

Skinny Pizza continues Franchise Expansion

SKINNYPIZZA’s expansion focus includes primary domestic and international markets that support a healthier approach to great tasting New York-style pizza, pasta, organic salads and farm-to-table greens. Company officials say they anticipate additional expansion this year with a growth rate of 6-10 domestic units, including locations in Greenwich, CT, Dallas/Ft. Worth and Philadelphia.

SKINNYPIZZA® Goes Global

NEW YORK, NY – Healthier New York pizza sensation, SKINNYPIZZA®, announced their expansion to The Kingdom of Saudi Arabia with the addition of 25 locations with Fawaz Alhokair Group, one of the leading groups of companies in Saudi Arabia focusing on the retail, real estate and restaurant business sectors.

Fawaz Alhokair Group entered the Food & Entertainment sector in 2005, bringing fresh new alternatives to the Saudi Arabian market. Their highly experienced Food & Entertainment Company operates 11 separate franchises of leading international brands, in categories such as coffee, sweets, juices, sandwiches and fast-casual dining.

Fawaz Alhokair Group’s Food & Entertainment Group VP, Sultan Alhokair said, “There is nothing similar to SKINNYPIZZA in the Saudi market. It is either fast-food quality or casual dining pizza offerings.” Mr. Alhokair believes SKINNYPIZZA is a perfect fit for the market. He stated, “SKINNYPIZZA brings a gourmet, healthy, New York authentic pizza experience to the fast-casual sector, which differentiates it from the rest.” Karim Hajjali, Chief Business Development Officer, will lead the expansion of SKINNYPIZZA under the leadership of Kamal Abusara, CEO of the group’s Food & Entertainment division.

SKINNYPIZZA Founder and CEO Joseph Vetrano said, “We couldn’t be more pleased to be partnering with Fawaz Alhokair Group to bring healthier SKINNYPIZZA to The Kingdom of Saudi Arabia. Alhokair Food & Entertainment has a long history of successful real estate development and food operation and represents precisely what we look for in an experienced international multi-unit development franchisee.”

SKINNYPIZZA Senior Franchise Recruiter Vince Blumetti indicated that “the company is very excited with the newly formed multi-unit relationship with Alhokair Group and the discerning investments of its chairman of Fawaz Alhokair. We believe that this places SKINNYPIZZA in ‘rarefied air’ that includes Chairman Alhokair’s interests in 2,100 stores across the Middle East, North Africa and Central Asia, and of course his recent highly publicized $88 million Park Avenue purchase, which is Manhattan’s highest penthouse.”

SKINNYPIZZA’s expansion focus includes primary domestic and international markets that support a healthier approach to great tasting New York-style pizza, pasta, organic salads and farm-to-table greens. Company officials say they anticipate additional expansion this year with a growth rate of 6-10 domestic units, including locations in Greenwich, CT, Dallas/Ft. Worth and Philadelphia.

ABOUT SKINNYPIZZA
After life-long experience with authentic Napoli-New York-style pizza, and over six years of research and development, Joseph Vetrano came up with a winning formula. SKINNYPIZZA is the New York Post’s #1 rated, best tasting pizza. Their healthy and delicious pies include a no-additive crust, USDA organic tomatoes, and hormone-free, nitrate-free toppings. SKINNYPIZZA, along with its staff Registered Dietician, serves only all-natural additive-free pizzas, GMO-free pastas, USDA organic salads, farm-to-table greens, high-fructose corn syrup-free sodas, soups, sandwiches, and optional organic craft beers.

SKINNYPIZZA is based in New York City at Brookfield Place, Two World Financial Center, 225 Liberty Street, Suite 251, New York, NY 10281. For more information visit: skinnypizza.com

Media Contact:
[email protected]
516-695-7045

Franchise Inquiry Contact:
[email protected]
www.frangrow.com
917.991.2465

Franchising continues to grow and Millennial founded brands are a driving force.

There is no doubt in my mind that the “Franchise Prototype Model” has revolutionized the way people take a small local business and turn it into a regional or national brand.”

Franchising continues to grow and Millennial founded brands are a driving force.

As Millennial Entrepreneurs are coming into their own with new brands that are emerging and growing, the idea of Franchising as a tool for rapid growth has become a prime focus. Understanding the need for Brand Identity and Social Acceptance perhaps better than any generation before it, the Millennials and GenX’rs are turning to franchising as the key method to expand beyond their immediate territories.

Gary Occhiogrosso, Managing Partner of FranGrow, (a franchise development and sales firm www.frangrow.com ), put it this way “as popular as the internet has become, you can’t physically experience your favorite restaurant or have your hair cut, or do a spin class or take care of aging parents “on the internet” or using an “app”. “There is a “real world” element that provides great opportunities for franchising both product and service based businesses.” “In the first six months of 2017 we’ve been approached by double the number companies looking to franchise their business or help them expand compared to the same time last year.”

FRANCHISING GROWS IN TOTAL

Robert Cresanti – President & CEO of the International Franchise Association (IFA) reported “We are forecasting that for the sixth consecutive year, franchise businesses will grow at rates that exceed the economy-wide growth of industries where franchises are concentrated, Franchise businesses are showing tremendous capability to provide new jobs for working families and new businesses for first-time business owners across all sectors in local communities, despite the fact that franchisees are facing many new regulatory threats at all levels of government.”

TOP CATEGORY IN FRANCHISING

According to Entrepreneur’s Franchise 500, the top growth sector both domestically and internationally is Quick Service Restaurants. As this stat relates to Millennials, they are particularly fond of the build your own concepts that feature fresh, made to order items, using sustainable ingredients and “built” to the customer’s specifications. Occhiogrosso who also teaches restaurant concept development and entrepreneurship at NYU says that his students aim their creativity on either launching or purchasing a quick casual brand that focus on the quality and social responsibility of the concept. He went on to say, “regarding founders and entrepreneurs that engage us to expand their brand, the franchise model is the primary form of expansion. Our client list has grown to the point whereby we’ve had to go to a waiting list. There is no doubt in my mind that the “Franchise Prototype Model” has revolutionized the way people take a small local business and turn it into a regional or national brand.”

For follow up information please contact [email protected]

Why Qualifying For Timeline Is Important

As we got to the end of the call, I was positive I’d be getting on a plane in the next couple of weeks to work with this prospect. And that’s when I asked a qualifying question that I neglected to ask upfront: “What is your timeline for this training?” He told me, “Sometime in the Fall.”

Why Qualifying For Timeline Is Important
By Mike Brooks

Okay. So I’ve been in sales longer than some of my clients have been on the planet.

I’ve made thousands and thousands of prospecting calls, and thousands and thousands of closing calls.

I teach, train, write books on phone scripts, and develop customized phone scripts and inside sales training programs for sales teams worldwide.

You’d think that I would never get tripped up by or neglect the fundamentals of sales, right?

Wrong.

Just this morning (April 28, 2017), I was on the phone with a new prospect and he was asking me about my background, my training methods, etc. We had good rapport. He was an inbound lead. We really connected and he was interested. This was a slam dunk, right?

As we got to the end of the call, I was positive I’d be getting on a plane in the next couple of weeks to work with this prospect. And that’s when I asked a qualifying question that I neglected to ask upfront: “What is your timeline for this training?” He told me, “Sometime in the Fall.”

So, after a ½ hour on the phone, this call went….nowhere. Where did I go wrong? When he asked me what my process was when working with companies, I should not have assumed he was ready to go. Instead, I should have done what I teach: Qualify.

And the first thing I should have qualified for was his urgency to make a decision. By the way, I normally do this, but because the rapport was so strong, and, again, he was a call in lead, I assumed he was all set. He wasn’t…

Here are some ways to qualify for timeline:

For an inbound call, what I should have done (and will not be skipping again!) is ask:

“First off, I generally book several months in advance, so let’s talk about when you need this training – if everything goes well during your discovery process, when is the soonest you’d like to have this training delivered to your team?”

If he then told me it was six months off (“in the Fall”), I’d have given him an abbreviated pitch, and then told him I’d circle around with him in September.

If you are prospecting to set an appointment or a demo, then the following scripts to qualify for timeline are what you use:

“If you like what you see after the demo, what would be the next steps on your side?”

OR

“If you think this solution is what you’re looking for, what would be your timeline for putting something like this to work for you?”

AND

“If after the demo this is something you’re interested in taking advantage of, could you implement this in the next couple of weeks?”

Qualifying for timeline upfront is crucial to not only closing more sales, but also to avoiding objections at the end like, “I want to think about it…”

Use any of the scripts above, or rewrite them to fit your personality, product or service.

Take my word for it: It’s MUCH better to know in advance when your prospect is thinking of buying.


Mike is the go-to inside sales trainer and phone script writer in the industry. He is hired by business owners to implement proven sales processes that help them immediately scale and grow Multi-Million Dollar Inside Sales Teams. If you’re looking to catapult your sales, or create a sales team that actually makes their monthly revenues, then learn how by visiting: http://www.MrInsideSales.com

http://articles.submityourarticle.com/why-qualifying-for-timeline-is-important-372473

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Franchise your Business today! www.frangrow.com

LEARN MORE ABOUT THE EXPLOSIVE AND UNTAPPED LATINO MARKET

Franchises provide a stable foundation and guidance:
Franchises are a proven business model.
They have established brand identity, effective marketing, and consumer research.
You will have access to business reports and key performance indicators.
As part of a franchise, you will have the experience and knowledge of the franchisor backing you up.
As a Los Taxes Tax Center Owner you are part of a “family” of Tax Professionals who together serve the community with honesty and integrity, utilizing tools to operate their businesses within the ever-changing guidelines of the industry.

LEARN MORE ABOUT THE EXPLOSIVE AND UNTAPPED LATINO MARKET
By Gary Occhiogrosso

Watch and Listen to this video as we describe the explosive Latino Market and a unique franchise opportunity. Contact me at [email protected]

Become part of the nation’s First and Only Latino Network of Tax Centers in America

Los Taxes can offer you the following opportunity for Success:

Servicing the fastest growing population base in the country….the Latino population
An established and recognized brand in the industry
Hands on initial training and on-going training
Utilize state-of-the-art tax preparation software to service your clients
Ongoing technical support
Receive up-to-date advancements, adjustments and compliance guidelines within the industry
Have at your disposal a team of experienced staff to assist you in establishing and reaching your business goals
Experience the satisfaction of being part of a “Family of Businesses” that share the common goal of excellence in service to the client.

“Los Taxes helped me to take my home business with over 1,200 clients to a professional office and continue serving more clients.”

Santa Los Taxes Franchisee in Queens, NY

We partner with you to service the needs of a community that is ready to be serviced with integrity and honesty in relation to tax preparation.

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Why Los Taxes

Los Taxes is known as the fastest growing Network of Tax Centers with over 50 tax centers in only five years.

Firm Foundation

Javier Solis, Los Taxes’ Founder & CEO has been a tax practitioner since 1990. In 2000, Javier opened his first Brooklyn office where he started with no clients or support. During those years, Javier developed an effective and aggressive marketing strategy, as well as an administrative structure that helped him bring his practice over 5,000 clients in 8 years and to the national level it is now. These Marketing and Administrative strategies combined with a state-of-the-art web management system are the key features available to all Los Taxes Tax Center Owners. Javier strongly believes that education and expert guidance are the keys to a productive and profitable tax preparation business.

Constant Support

One of the benefits of being a Los Taxes Tax Center Owner is the understanding that “you are not alone” in your business. From the initiation of your Tax Center business a team of professionals are standing by to offer support as needed in all areas of tax preparation:

Tax business operations
Compliance guideline adjustments
Industry updates, community integration processes
Brand exposure techniques
Initial training and ongoing training
This support extends beyond the Tax Center Owner and encompasses the tax preparation staff and/or administrative staff working for the Tax Center Owner.
Year-Round Training

Los Taxes Business Support Team stands ready to supply support and assistance to its Tax Center Owners both in tax season, and throughout the year.

State-of-the-art tax preparation software
Regularly scheduled webinars
Training sessions
Tax schools
Assistance with IRS registration and certification
Boot camps and workshops
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Opportunity for Success

Our Success is Driven by Your Success, and we are equipped and ready to assist in Your Success.

Why the Tax Industry

As tax guidelines are continually being adjusted the need for the use of a Tax Professional increases. Quite simply, the Tax Industry is positioned for continued growth in years to come.

More than 240,000,000 individual tax returns are filed each year
56% of individual tax returns filed are filed by paid preparers
90% of individual tax returns filed are e-filed
Any tax preparation business that intends to file eleven (11) tax returns or more in a calendar year must use the IRS E-File System to do so
More than 120,000,000 individual tax returns filed in a year receive tax refunds
The average individual tax refund received was $2,872.00
27,900,000 individual returns received Earned Income Tax Credit
Individual Tax Return Filing is increasing by at least 1% per year

The Latino Market

Service the fastest growing population base in the country….the Latino population.

In addition to the above statistics, there are also over 12 million undocumented Hispanics who will request the ITINs (Individual Tax Identification Number) and file income tax returns as a sign of good faith in furtherance of any future amnesty possibilities. These individuals comprise an untapped segment of the market thereby resulting in a tremendously profitable opportunity for a business catering to the Latino Community.

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No one can guarantee success but when a franchise company supplies you with the tools and knowledge, all you need to do is follow the system.

Franchises provide a stable foundation and guidance:

Franchises are a proven business model.
They have established brand identity, effective marketing, and consumer research.
You will have access to business reports and key performance indicators.
As part of a franchise, you will have the experience and knowledge of the franchisor backing you up.
As a Los Taxes Tax Center Owner you are part of a “family” of Tax Professionals who together serve the community with honesty and integrity, utilizing tools to operate their businesses within the ever-changing guidelines of the industry.

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To learn more about this explosive market and untapped franchise potential, Contact me at [email protected]
www.lostaxes.com

6 Tips for Startup Success From MIT Bootcamp for Entrepreneurs

Just after the defining the business idea, all the teams at MIT bootcamp are forced to interact with their potential customers and interview them. It doesn’t matter how hard it is to reach the target market, all teams have to find a way to get real responses to validate their idea.

6 Tips for Startup Success From MIT Bootcamp for Entrepreneurs

Former Olympian Inga Stasiulionyte shares the main lessons that she learned about starting a successful business.

by Carolyn M. Brown

Reports show that at least eight out of 10 businesses fail within a year after opening, and roughly 96% will close in 10 years. This summer, MIT held its regular Global Entrepreneurship Bootcamp, where entrepreneurs from around the world underwent the most challenging week of their lives while learning how to build a lasting and successful business. MIT organizes these bootcamps with the goal of creating more stable jobs. When businesses fail, it’s not only the owners that suffer financially and emotionally; when people lose their jobs, vendors lose their clients.

Inga Stasiulionyte is a former Olympian, mentor, and an MIT bootcamp award-winner for Onbotraining, her online startup for mind training. Here, Stasiulionyte shares the main lessons she’s learned from her MIT startup bootcamp experience.

1. Learn to Achieve Perfection

Everything is possible, even at the highest level. When running a 100-meter sprint, your body will function at its best in the shortest amount of time. However, you have to keep moving faster and faster without losing quality, in order to succeed. The more we learn about how we function, the more we can challenge our capabilities and standards. It all depends on mastering your thoughts, actions, discipline, and planning.

The more we learn about how we function, the more we can challenge our capabilities and standards. It all depends on mastering your thoughts, actions, discipline, and planning.

2. Work With Experts

If you want to achieve the best for yourself, work with experts. When you work with the best in their field, you can continuously challenge your limits and see how they break theirs. Being around groundbreaking individuals will increase your mental limits, surpassing what you thought was possible.

Read the entire article here: http://www.blackenterprise.com/small-business/6-tips-success-mit-bootcamp-entrepreneurs/

Negative Vibes Rattle The Restaurant Industry – So Where Can Investors Find Opportunities??


Trends in dining habits, technology, new entrants, a shift in the consumer base and consumer expectations, and the influence of non-restaurant players are all impacting the industry … and will continue to impact it for the years to come.

Negative Vibes Rattle The Restaurant Industry – So Where Can Investors Find Opportunities??

Private Equity Investing In Restaurant Companies

Over the past ten years, the market place for acquisitions in the $650 billion restaurant industry has maintained its attraction for middle-market private equity investors.
But the most savvy firms are getting more and more discriminating amid concern that good times in the crowded space might be rolling a bit too long. They’re being pickier about paying top prices, which have been as high as 15 times adjusted EBITDA.
Trends in dining habits, technology, new entrants, a shift in the consumer base and consumer expectations, and the influence of non-restaurant players are all impacting the industry … and will continue to impact it for the years to come

CHAIRED BY

Glenn B. Kaufman

Managing Director

D Cubed Group LLC

FULL-DAY CONFERENCE

Thursday, September 22, 2016

8:00 am – 5:00 pm

New York City

REGISTER NOW

INSIGHTS FROM 20 EXPERT SPEAKERS!

Jeffrey R. Ackerman, Headwaters MB LLC

Jonathan H. Borell, Sun Capital Partners Inc.

Jeffrey Brock, Hargett Hunter Capital Partners

Mark L. Bromberg, Apex Restaurant Group LP

Nathan Chandrasekaran, TZP Group LLC

Alexander K. Chefetz, BTIG LLC

Benjamin D. Fishman, Arlon Group LLC

Amy V. Forrestal, Brookwood Associates LLC

Murray C. Huneke, Stifel Nicolaus Weisel

Shaw Joseph, General Atlantic LLC

Mark A. Leavitt, Union Square Hospitality Group

Richard R. Leonard, Angelo Gordon & Co. LP

Sarah E. Lockyer, Nation’s Restaurant News
Shay Murphy, NGEN Partners LLC

Gary Occhiogrosso, TruFoods LLC

Carl A. Pforzheimer, Barteca Restaurants LLC

Carlos L. Sanchez, Piper Jaffray & Co.

Andrew L. Stern, Aurify Brands LLC
Ty Sullivan, S. T. Management Group Inc.

John B. Tibe, Jefferies LLC

Raymond J. Zale, Anton & Chia LLP

Over the past ten years, the market place for acquisitions in the $650 billion restaurant industry has maintained its attraction for middle-market private equity investors.
But the most savvy firms are getting more and more discriminating amid concern that good times in the crowded space might be rolling a bit too long. They’re being pickier about paying top prices, which have been as high as 15 times adjusted EBITDA.
Trends in dining habits, technology, new entrants, a shift in the consumer base and consumer expectations, and the influence of non-restaurant players are all impacting the industry … and will continue to impact it for the years to come

The market ranges from pizza stands and taco chains to casual sit-down restaurants and up. Investors from private-equity firms to strategics are on the lookout for promising targets and emerging concepts. To mention just a few —

TPG Growth bought a chain of Tex-Mex limited-service eateries named Taco Bueno.
Cracker Barrel plans a fast-casual biscuit house called Holler & Dash.
Roark Capital has invested in Naf-Naf Grill, a fast-casual chain specializing in Middle-Eastern food.

Non-chain restaurant groups like Lettuce Entertain You and Cameron Mitchell Restaurants succeed by developing multiple concepts. And high-tech entrepreneurs and their backers are busy at the periphery of the market — UberEATS, an extension of the platform that connects rides and riders, offers on-demand delivery from restaurants.

Our conference chairman, Glenn B. Kaufman of D Cubed Group LLC, and 20 other speakers will address such granular questions as —

What are the most promising segments in the restaurant industry over the next two years?
Should firms invest in proven but over-used models, such as Chipotle and McDonald’s?
Why are operations and user experience vital to successful social media marketing?
How will non-exempt overtime rules affect restaurant staff and operations?
What’s the biggest mistake an investor can make in today’s restaurant space?
How can you guard against today’s hot growth concept being displaced in the restaurant marketplace?
Should a private-equity firm take venture-stage risks in a restaurant company?
What are key steps in revitalizing an underperforming restaurant company, such as Giordano’s?
How are the farm-to-table and organic concepts faring in practical application in the market?
Do limited-casual chains overseas hold any promise for U.S. private-equity investors?
What’s the outlook for dining choices from supermarkets and convenience stores?
How can you determine whether a new (or long term existing) company has the staying power to weather economic turmoil?
Does a recent slide in visits to fast-food outlets signal tougher times for investors?
Why do multi-concept restaurants such as Bobby Flay have a hard time commanding the same value as chains?

Understanding how to identify winners requires a broader set of thought processes then simply looking at historical performance.

Whether you’re a veteran restaurant investor or mulling your first foray, you’ll greatly benefit from the insights and information at The Capital Roundtable’s conference on “Private Equity Investing in Restaurant Companies,” being held in a private midtown club in New York City on Thursday, September 22.

Click here to receive our best rate — a savings of $400 on our regular conference rates!

Here Are Three Key Reasons Why You Should Join Us

Understand what you may not be thinking about when evaluating a restaurant deal.
Hear what makes an expert or successful operator or restaurateur in today’s market.
Understand the potential of underperforming companies – like Giordano’s, an iconic Chicago-area pizza chain today that private-equity investors built up after buying it out of bankruptcy five years ago.

Register Now to Meet Glenn Kaufmann And More Than 20 Restaurant Company Investors & Experts

Chairing the conference is D Cubed Group founder Glenn Kaufman. D Cubed is a private-market investment firm with a long-term, commercially oriented approach to investing and supporting the growth of companies.

In addition to leading the firm, Glenn heads D Cubed’s efforts in the foodservice industry – an area where he has focused for almost two decades. Glenn also sits on the board of Red Robin Gourmet Burgers and serves as the chairman of its finance committee.

Before forming D Cubed, Glenn was a managing director at American Securities Capital Partners, a prominent high-net-worth-oriented private equity firm, where he spent over a decade and participated in its growth from the time of its first fund through its fifth fund.

At American Securities he was heavily involved with investments in El Pollo Loco restaurant chain and Potbelly Sandwich Works – each of which is now a public company.

Glenn’s experience includes 25 years of private-market investing as well as commercial and management roles. He has served in interim CEO and operational leadership roles of several companies. Earlier, he was an attorney at Cravath Swaine & Moore, where he concentrated on private-equity transactions, and worked in the small-business consulting group of Price Waterhouse. He is graduate of the Wharton School at the University of Pennsylvania and Harvard Law School.

Three More Reasons Why You Should Join Us

Learn how non-chain multi-concept restaurants are coming into their own.
Recognize that execution is supplanting advertising in a world dominated by Yelp and TripAdvisor online reviews.
Learn why you should be suspicious of any restaurant opportunity that’s described as “the next Chipotle” of an area or segment.

Recent Middle-Market Restaurant Deals

Z Capital Partners’ acquisition of the Pink Taco “original rock ‘n roll Mexican” restaurant brand and franchising rights for an undisclosed sum. Z Capital is the largest shareholder of Real Mex Restaurants.
Pieology Pizzeria’s acquisition of the Project Pie fast-casual chain for undisclosed terms. Pieology received a strategic investment in January from the founders of Panda Restaurant Group.
Private-equity firm Larsen MacColl’s purchase of B&B franchise group, parent of the Burger & Beer Joint casual-restaurant chain, for undisclosed terms.
Montreal-based restaurant operator MTY Food Group’s acquisition of Kahala Corp., an Arizona-based franchise fast-food company, for $300 million as a platform for U.S. expansion.
TPG Growth’s purchase of Taco Bueno, a Tex-Mex quick-service restaurant chain. The buyer is the middle-market and growth-equity unit of TPG.

To register please click here

Emmitt Smith Joins Executive Lineup as Co-owner of The Gents Place

Ultra-premium Men’s Grooming & Lifestyle Club, The Gents Place, Launches National Franchise Program
Entrepreneur and NFL Icon Emmitt Smith Joins Executive Lineup as Co-owner of The Gents Place

Press Release by Rachel Tabacnic

Dallas/ PRNewswire/ — The Gents Place, an ultra-premium men’s grooming and lifestyle club, announced today the formation of The Gents Place Franchising, LLC and the launch of its national franchise program. Additionally, Emmitt Smith, an established entrepreneur, Pro Football Hall of Fame inductee and long-time member of The Gents Place, has joined the team as a co-owner alongside founder and president Ben Davis. With four existing lifestyle clubs open in Dallas and Kansas City, The Gents Place currently has more than 2,300 members and plans to open 150 franchised locations over the next five years.

“Male grooming is a $5+ billion industry and The Gents Place prides itself on offering a world-class menu of services to help men look and feel their most confident best. As the industry continues to grow, now is the ideal time for us to grow our presence nationwide through franchising,” said Davis, who founded The Gents Place in 2008 with the first location in Frisco, Texas. “We’re thrilled that Emmitt has joined The Gents Place as a co-owner. Over the last few years, he’s been a huge fan of the brand and his incredible success as an entrepreneur will undoubtedly help us accelerate our growth and maintain our leading position in the ultra-premium men’s grooming market.”

“From the first time I visited The Gents Place, I was blown away by the quality of the experience, from the services provided to the ambiance. I loved feeling connected to like-minded individuals that believe in looking good and feeling good — which leads to the ability to perform like a champion. I had a sense of belonging,” Smith said. “I’ve been fortunate to have had success as an entrepreneur for the last decade and am excited about the opportunity to open doors for others who want to own their own business.”

The Gents Place prides itself on having one of the most unique service menus in the industry. Not only can guests enjoy an incredible hair service and shave in the best men’s grooming and lifestyle clubs in town, but they also can take advantage of all of the luxuries of a modern spa. In addition to offering men’s grooming services, The Gents Place is a purveyor of hard-to-find retail goods from all over the world including Rascal, Truefitt & Hill and Lakme, among others.

The Gents Place is seeking qualified franchisees to join the brand and currently has opportunities nationwide in markets such as Texas, Georgia, Florida, California, Illinois, Indiana, Maryland, New York, and Virginia. Prospective single- and multi-unit franchisees should possess a minimum net worth of $400,000 and liquid assets of at least $175,000. Candidates should have strong business, management and/or marketing experience. Franchisees can expect their initial investment to be between $440,955 – $705,980, including a $40,000 franchise fee. The Gents Place franchisees are provided with an array of tools to position them for success including: franchisee and management training, a proprietary web-based management system; ongoing, hands-on training for salon employees to learn our unique grooming methods, management and administration of a club; and advertising, marketing and public relations support. Additionally, The Gents Place provides assistance with site selection and construction.

To ignite national expansion, the company will be attending the International Franchise Expo (Booth No. 546) in New York City from June 16-18 at The Javits Center. Franchise executives from The Gents Place will be on-site to showcase the franchise opportunity and meet one-on-one with prospective franchisees to discuss the reasons to invest in the concept.

To learn more about ownership opportunities with The Gents Place, contact Bret Franson, director of franchise development at [email protected] or visit www.thegentsplace.com/franchise. Follow The Gents Place on Facebook, Twitter and Instagram for the latest news and trends.

The Gents Place’s robust franchise growth is backed by Elevated Brands, a brand management and development company established by the principals of Massage Heights, a membership-based, therapeutic services franchise. Earlier this year, Elevated Brands invested in The Gents Place to help grow the brand nationally through the franchising model.

The Gents Place
The Gents Place is the ultra-premium men’s grooming and lifestyle club that helps gentlemen look and feel their most confident best. Founded in 2008, the company has grown to include lifestyle clubs in Dallas, Southlake and Frisco, Texas, as well as Leawood, Kansas. The Gents Place provides luxury men’s grooming services in addition to straight razor shaves, shoe shines and hand and foot repairs in a refined and timeless environment. For more information on The Gents Place, visit www.thegentsplace.com.

Read the entire story here: http://www.prnewswire.com/news-releases/ultra-premium-mens-grooming–lifestyle-club-the-gents-place-launches-national-franchise-program-300283113.html

Sell More! – Text Messaging Is Absolutely Eating Phone Call’s Lunch

Now that text messaging is core to our processes around here, we’ve begun to collect information on not only on how people want to be contacted but also how engagement differs by method.

Text Messaging Is Absolutely Eating Phone Call’s Lunch
By Eli Robinson

The single most popular article that we published in 2015 was from back in May. In “Call Me” Has Turned to “Text Me” for Franchisees, we began to craft an argument for why text messaging was becoming the preferred methodology for communicating with potential franchisees.

(Our experimentation actually began all the way back in July 2014. Our first findings were reported in a post entitled What We’ve Learned Sending 6,636 Text Messages in the Past 4 Months.)

Before we get to our newest findings, I wanted to give everyone a quick update on the information that we found back in May. To that point, we reported that when given the choice between verifying their information via text message and verifying their information via telephone, that almost 90% chose text message.

Here’s how those numbers have evolved since last May:

June 2015 – January 2016 Franchisee Communication Preference

Quite interestingly, we haven’t seen much of a change at all. To this day, almost 90% prefer text message and just over 10% choose call.

Now that text messaging is core to our processes around here, we’ve begun to collect information on not only on how people want to be contacted but also how engagement differs by method.

(For those of you confused by how we use text messaging in our verification process, you can get an idea for that here:) https://www.franchisehelp.com/franchise-lead-generation/call-verification-heres-exactly-how-we-do-it-for-now/

When we send out a verification attempt, there are 3 different outcomes that we can expect. The first layer to look at is simply whether or not someone responds in any way shape or form. (For a telephone call, this means pressing a key on their dial pad. For text messages, this means responding to the message.)

After that initial layer, you can break the responses into positive and negative interactions. A positive signal means that their request is verified (Pressing 1 or texting back “”Yes”) and a negative signal means that their request will be terminated (Pressing 9 or texting back “No”).

Here’s what the data looks like for phone call vs. text message response and verification rates:

January 2016 SMS vs. Phone Response and Verification Rates

When you’re simply looking at any interaction (response rate), that’s both positive and negative an interactions, we get a 209% increase in engagement with text messaging!

Furthermore, text messaging is far more effective at eliciting a positive reaction (verification rate). Text messages are a shocking 295% more effective at getting people to verify their information relative to phone calls!

Read the entire article here https://www.franchisehelp.com/franchise-lead-generation/more-evidence-that-text-messaging-is-eating-phone-calls-lunch/

Customer Objection: How to Overcome the “We are Handling That In House

While either of these responses can be used effectively in the right situation, there is a better way to handle this objection.Try using this script for the next couple of weeks and see if you can get past prospect’s natural resistance to setting up a meeting. If you use it consistently, you’re going to set more appointments, open more doors and close more sales.

How to Overcome the “We are Handling That In House”
By Mike Brooks

If you are trying to set appointments for an outside sales team, or even if you’re trying to generate leads so you can do an over the phone demo later, then you know all about put offs and stalls. While I’ve previously discussed the common ones like, “I’m not interested,” and “Just email me something,” there others that are somewhat harder to overcome…

One of the more frequently encountered objections is “We handle that in house so we don’t need you.”

Many sales reps are taught the normal, “old school” approaches of things like:

“That’s fine, but when was the last time you did an apples to apples comparison to what it might run you if you outsourced that?”

OR

“But if I could show you a way to save money, then surely you’d want to know more about it, wouldn’t you?”

While either of these responses can be used effectively in the right situation, there is a better way to handle this objection. What you want to do is offer value in your visit or demo, and then leave it up to your prospect to decide if it’s worth taking your call or visit any further after you have.

Try the following rebuttal (obviously, customize this to your particular service or product):

Objection: “We handle that in house.”

“That’s fine – glad you have a way that’s working for you now. Here’s what I’d recommend you do though: I’d be happy to drop by and show you how we’d go about taking care of that for you, and what our processes would look like.

At the end you may still choose to keep doing it the way you are, but at least you’d have a different perspective on it and you may even find some ways to save money or time. The visit wouldn’t take long and everyone we visit with finds a benefit.

What’s a good time for you next week…”

As you can see here, you’re not pitching necessarily, instead you’re offering to enlighten them as to a better way. What they do after that is up to them.

Try using this for the next couple of weeks and see if you can get past prospect’s natural resistance to setting up a meeting. If you use it consistently, you’re going to set more appointments, open more doors and close more sales. Remember to customize this to fit your service or product.
http://www.MrInsideSales.com

http://articles.submityourarticle.com/how-to-overcome-the-quot-we-are-handling-that-in-house-quot–371587