Franchise Opportunities Blog

Tips For Making Your Franchise Successful

Here you will find healthy tips to help make your franchise successful. The first step is to consider the hard work involved in running a franchise and know that it will not be a “get rich quick scheme”.

Another great idea for making your franchise successful is to network. This can include meeting with other franchisees in the same business or joining local chamber of commerce meetings. In this way, you will be able to gain solid business advice from more experienced owners.

Before putting everything you have into your franchise business, it is a good idea to also consider if the corporate franchise company is a good one, and if there is a demand for your product. So it is important to research the franchise in the beginning.

But above all, the success for your franchise will depend on how well you are at budgeting your money that is made in sales. Buying writing a business plan, you would be able to set clear goals on how much you would profit and spend to make your business successful.

Krispy Kreme Franchise Lawsuits

The donut franchise Krispy Kreme has decided to end its Great Circle Family Foods LLC license. By doing so they have defaulted on their licensing agreement, and will not be able to pay royalty fees.

As a result, Richard Reinis and Roger Glickman the partners in Great Circle have filed a lawsuit against Krispy Kreme.

The details of the lawsuit alleged by Reinis and Glickman is that the franchise company mishandled funds, sent invoices for bogus charges, and “engaged in deceptive business practices”.

However this is not the only dispute that the Krispy Kreme franchise is having, as some shareholders have even filed lawsuits due to the alleged improper accounting procedures.

DreamMaker Bath & Kitchen Franchise

A franchise of the DreamMaker Bath & Kitchen System by Worldwide, is being run by Patty and Everett Gray, who have turned it into a successful business. As one of the most profitable franchises in the DreamMaker System, the Grays had little business knowledge, and Patty was a stay at home mom.

However, with the purchase of the DreamMaker franchise, Patty became determined to run the business and make it profitable. She went from homeschooling her children to bookkeeping and encouraging her employees. This has helped the business considerably because as co-owners this husband and wife team, have been able to manage more tasks because the work is equally divided.

Patty Gray attributes the success of her franchise to the employees, and the support of the corporate office. She feels that it is better to have employees working in areas that are well suited for them. Their DreamMaker Bath and Kitchen franchise has become so successful that the company has tripled their annual sales, earning Patty the “Woman of the Year Award” at the DreamMaker National Convention.

Krispy Crème Reduces Franchise Number

One of the popular donut makers Krispy Crème is set to reduce the number of its franchises that are currently open.

This is in view of the expected decrease in the company’s financial sales, along with several franchisee and shareholder lawsuits that are still plaguing the donut company.

CEO Steven Cooper has tried his best to turnaround the company in the past year, since taking over from Scott Livengood. This has consisted of reducing the number of stores 20% or 71 of the total “factory stores” that make donuts. In December alone, the donut company closed at least 12 of its franchises.

However, analysts believe that Krispy Kreme will be able to bounce back after it has dealt with the impending lawsuits, and found a way to balance its accounting books.

Franchise 50 –2006 Survey

The Franchise Business Review announced that it will conduct a franchise owner related survey in 2006.

The survey will be entitled the “Franchise 50 – 2006”, and it will be distributed to over 20,000 franchises that the Franchise Business Review has signed up with. The survey will be distributed over a two month period and the results will be revealed at the annual International Franchise Association Convention.

As a marketing firm, the Franchise Business Review will use the results of their survey to evaluate how happy the Franchise owners are with their service. Also the feedback received will be able to help improve their franchise marketing strategies.

The survey is open to all franchise companies with at least 10 operating franchises.

CoolBrands Sells Franchise

One of the leading franchise companies in Canada, CoolBrands has decided to sell a part of their franchise division. The lucky new owners will be International Franchise Corp, who is willing to pay approximately 8 million USD for a part of the franchise.

The company is responsible for delicious dairy snacks and other snack foods. However, the company will retain the trademarks of Jerry’s Pizza Pasta and Tropicana Smoothies.

After the sale of the part of the franchise was announced, stock values of CoolBrands rose by six cents. More information on the sale to International Franchise Corp are available.

New Location in Tampa, FL for NiteLites

NiteLites outdoor lighting specialists have announced the opening of actually 3 new franchises in the state of Florida: Clearwater, St. Petersburg, and Tampa. All three are owned by the John and Ursula Petherbridge. John has a background in Information Systems around Wall Street and his wife's experience is in Sales and Marketing. Not a bad combination if you ask me. So what's so speacial about NiteLites that separates it from its competition? CEO Thomas Frederick states,

The dramatic growth of NiteLites is due entirely to our clients’ preference for the high quality of NiteLites systems over other lighting companies.”. He also relayed, “We are providing beauty, superior quality and service as well as safety for every client who chooses a NiteLites System.

Well, there you have it. To find out more about this growing franchise, take a stroll over to their website.