Franchise-Info

Ready, Start, Grow: The Farmer Boys Blueprint for Franchise Launch Success

Selecting the Right Advisors: Best Practices for Aspiring and Established Franchisors By Joe Caruso Franchising is a powerful model for growth, but building a successful franchise brand whether in the U.S. or internationally—requires more than just ambition. It demands guidance from seasoned professionals who know the ins and outs of franchising. Whether you’re an established franchisor looking to refine your system or an aspiring franchisor preparing to launch, finding the right advisors is essential. Here’s how to make sure you’re getting the best advice and avoiding costly missteps. 1. Credible, Verifiable Experience is Non-Negotiable Advisors, mentors, and coaches must bring more than theories to the table they need a proven track record of success. Look for professionals who can clearly demonstrate how they’ve helped franchisors like you grow and thrive. Poor choices in advisors can take 18 months or more to reveal themselves, often when your franchise brand’s operations, marketing, and expansion are already on the wrong track. By then, correcting course can be costly, time-consuming, and damaging to your brand. 2. Seek Leaders Who’ve Worked at the Highest Levels For franchisor advisory, prioritize people who have led well-established, longstanding franchise brands. These individuals have navigated the most challenging problems, from scaling systems to managing crises, and their insights will be invaluable as you build or expand your brand. Advisors with this level of expertise can save you from mistakes that could derail your growth. 3. Franchise Compliance is a Must Compliance is the backbone of a durable franchise system. Your advisors must have an in-depth understanding of the FTC Franchise Rule, NASAA, and state-specific regulations. Their expertise ensures that your system operates legally and efficiently, avoiding costly missteps that could otherwise jeopardize your entire operation. 4. Details Matter, Even in Spelling Here’s a quick litmus test: Do they know it’s spelled “franchisor” and not “franchiser”? It might seem trivial, but this level of attention to detail can reveal how well they understand the industry. Don’t overlook small signals since they often point to bigger gaps in expertise. 5. Don’t Settle & Accept Only the Best It’s always great to meet new people in the franchise industry, and building relationships is an important part of growth. But when it comes to advisors, friendship isn’t enough. Choose skilled, experienced professionals who can help you expand, accelerate, and build a durable, sustainable franchise system. The wrong advisors and specialized services can steer your franchise in the wrong direction, delaying your progress for years. Whether you’re taking your first steps as a franchisor or fine tuning an established brand, the quality of your advisors will shape your success. Surround yourself with...Click-thru to read more. https://lnkd.in/e3zmNP_k

The Hidden Cost of Weak Standards: Why Franchisees Need Financial Cushioning By Joe Caruso Franchising is a proven path to business ownership, offering a blueprint for success through a strong brand and operational support. But beneath the surface lies a critical challenge that many franchisors overlook: weak financial standards for prospective franchisees. Insufficient requirements for available cash and net worth can lead to cascading problems for franchisees and, ultimately, for the entire brand. Financial cushioning isn’t just a safeguard for franchisees—it’s a necessity. Here’s why it’s time for franchisors to take a hard look at their financial standards and ensure their franchisees are set up for long-term success. Are Your Financial Standards Stuck in the Past? If your franchise’s available cash and net worth standards haven’t changed in decades, you may be courting disaster. The economic landscape has evolved, and costs have soared across the board—from labor to rent to marketing. Standards that were sufficient 20 years ago may leave today’s franchisees woefully underprepared. When financial requirements are too low, they open the door to underqualified candidates. These candidates might express interest in the opportunity, but their inability to handle the financial realities of business ownership can lead to cash flow issues, operational struggles, and high turnover among staff. The Lead Qualification Bottleneck Some franchise sales teams lower financial thresholds to attract more leads, thinking this will widen their pool of potential franchisees. However, this short-term strategy can backfire, creating a clogged lead funnel filled with underqualified candidates who will struggle to succeed. Weak financial standards lead to more underprepared franchisees entering the system. This often results in: Locations failing to achieve profitability. Franchisees unable to afford experienced managers or team members. Resources spent managing distressed franchisees instead of growing the system. For franchisors, these struggles can erode brand reputation and disrupt the flow of systemwide operations. The Multi-Unit Mirage The risks of weak financial standards are amplified when franchisees sign multi-unit development agreements. Franchisors love the appeal of scaling quickly through multi-unit deals, but without the proper financial foundation, these franchisees often fail to build out their territories. Instead of driving growth, undercapitalized franchisees leave promising markets underdeveloped. This creates opportunity costs for the franchisor and impacts systemwide momentum. Worse, these failures often drain resources as franchisors try to salvage distressed multi-unit agreements. Click-Thru to read more...https://lnkd.in/e_yvf_vK

Farmer Boys is recruiting for a Lease and Account Receivable Manager in our development team to support brand expansion. If you or anyone you know are interested please apply on our career portal in the link below. Cheers!

Inquiring minds ask - "You're leading a franchise team. How can you balance standardization and employee creativity effectively?" Joe Caruso answers - Here’s how I would think about doing balancing standardization with employee creativity in a franchise. 1. Define the Guardrails, Not Just the Rules  2. Create a Culture of 'Innovating Within Standards'  3. Recognize and Scale Creativity That Works 4. Train Leaders to Be Brand Advocates and Coaches  5. Encourage Feedback, Measure Success  By setting clear boundaries, recognizing aligned creativity, and fostering a collaborative culture, franchisors can unlock innovation without compromising the integrity of the franchise model. https://lnkd.in/ew-xzs7m

Selecting the Right Advisors: Best Practices for Aspiring and Established Franchisors By Joe Caruso Franchising is a powerful model for growth, but building a successful franchise brand whether in the U.S. or internationally—requires more than just ambition. It demands guidance from seasoned professionals who know the ins and outs of franchising. Whether you’re an established franchisor looking to refine your system or an aspiring franchisor preparing to launch, finding the right advisors is essential. Here’s how to make sure you’re getting the best advice and avoiding costly missteps. 1. Credible, Verifiable Experience is Non-Negotiable Advisors, mentors, and coaches must bring more than theories to the table they need a proven track record of success. Look for professionals who can clearly demonstrate how they’ve helped franchisors like you grow and thrive. Poor choices in advisors can take 18 months or more to reveal themselves, often when your franchise brand’s operations, marketing, and expansion are already on the wrong track. By then, correcting course can be costly, time-consuming, and damaging to your brand. 2. Seek Leaders Who’ve Worked at the Highest Levels For franchisor advisory, prioritize people who have led well-established, longstanding franchise brands. These individuals have navigated the most challenging problems, from scaling systems to managing crises, and their insights will be invaluable as you build or expand your brand. Advisors with this level of expertise can save you from mistakes that could derail your growth. 3. Franchise Compliance is a Must Compliance is the backbone of a durable franchise system. Your advisors must have an in-depth understanding of the FTC Franchise Rule, NASAA, and state-specific regulations. Their expertise ensures that your system operates legally and efficiently, avoiding costly missteps that could otherwise jeopardize your entire operation. 4. Details Matter, Even in Spelling Here’s a quick litmus test: Do they know it’s spelled “franchisor” and not “franchiser”? It might seem trivial, but this level of attention to detail can reveal how well they understand the industry. Don’t overlook small signals since they often point to bigger gaps in expertise. 5. Don’t Settle & Accept Only the Best It’s always great to meet new people in the franchise industry, and building relationships is an important part of growth. But when it comes to advisors, friendship isn’t enough. Choose skilled, experienced professionals who can help you expand, accelerate, and build a durable, sustainable franchise system. The wrong advisors and specialized services can steer your franchise in the wrong direction, delaying your progress for years. Whether you’re taking your first steps as a franchisor or fine tuning an established brand, the quality of your advisors will shape your success. Surround yourself with...Click-thru to read more. https://lnkd.in/e3zmNP_k

Candyce. Edelen nice post on professional sales practices. We asked Joe Caruso's for his thoughts and ideas on this and here is what he said: "The Human2Human approach has a lot of value and it's where trust and conversations matter. But let’s not lose sight of this: selling works when it’s built on preparation, targeting the right people, and professional execution. Conversations without structure and qualification risk being unproductive. A true Human2Human approach blends genuine, buyer focused dialogue with the discipline of a well executed sales process. Trust isn’t just about being ‘human’ it’s about showing up prepared, competent, credible and ready to add value. That’s when prospects see you as the natural choice."

The Hidden Cost of Weak Standards: Why Franchisees Need Financial Cushioning By Joe Caruso Franchising is a proven path to business ownership, offering a blueprint for success through a strong brand and operational support. But beneath the surface lies a critical challenge that many franchisors overlook: weak financial standards for prospective franchisees. Insufficient requirements for available cash and net worth can lead to cascading problems for franchisees and, ultimately, for the entire brand. Financial cushioning isn’t just a safeguard for franchisees—it’s a necessity. Here’s why it’s time for franchisors to take a hard look at their financial standards and ensure their franchisees are set up for long-term success. Are Your Financial Standards Stuck in the Past? If your franchise’s available cash and net worth standards haven’t changed in decades, you may be courting disaster. The economic landscape has evolved, and costs have soared across the board—from labor to rent to marketing. Standards that were sufficient 20 years ago may leave today’s franchisees woefully underprepared. When financial requirements are too low, they open the door to underqualified candidates. These candidates might express interest in the opportunity, but their inability to handle the financial realities of business ownership can lead to cash flow issues, operational struggles, and high turnover among staff. The Lead Qualification Bottleneck Some franchise sales teams lower financial thresholds to attract more leads, thinking this will widen their pool of potential franchisees. However, this short-term strategy can backfire, creating a clogged lead funnel filled with underqualified candidates who will struggle to succeed. Weak financial standards lead to more underprepared franchisees entering the system. This often results in: Locations failing to achieve profitability. Franchisees unable to afford experienced managers or team members. Resources spent managing distressed franchisees instead of growing the system. For franchisors, these struggles can erode brand reputation and disrupt the flow of systemwide operations. The Multi-Unit Mirage The risks of weak financial standards are amplified when franchisees sign multi-unit development agreements. Franchisors love the appeal of scaling quickly through multi-unit deals, but without the proper financial foundation, these franchisees often fail to build out their territories. Instead of driving growth, undercapitalized franchisees leave promising markets underdeveloped. This creates opportunity costs for the franchisor and impacts systemwide momentum. Worse, these failures often drain resources as franchisors try to salvage distressed multi-unit agreements. Click-Thru to read more...https://lnkd.in/e_yvf_vK

Anthony's Coal Fired Pizza is sold to a Burger King franchisee The 51-unit pizza chain is being sold to Kuljeet Singh, who is also a franchisee of Round Table Pizza. The deal splits the brand from sister chain BurgerFi. By Lisa Jennings Restaurant Business Online Anthony's Coal Fired Pizza & Wings has a new owner. The 51-unit chain was sold out of bankruptcy by parent company BurgerFi International Inc. first to lender TREW Capital Management in a credit bid for $44 million, as previously announced. TREW now has sold the pizza chain to Florida Burger Inc. A principal of the company is Kuljeet Singh, a franchisee of both the Round Table Pizza and Burger King brands, said Jeff Crivello, the former Famous Dave's of America Dave’s CEO who leads TREW Capital and acquired BFI’s debt earlier this year. Crivello did not disclose the sale price, but said it was in the ballpark of the $44 million credit bid. The deal splits Anthony’s from its sister-brand BurgerFi, which TREW also acquired in the bankruptcy auction for a credit bid of $10 million—and which may also soon have a new owner. Crivello said a sale of the fast-casual burger chain is also in the works, and that deal could be announced by the end of the week. The buyer has not yet been disclosed. BurgerFi has 93 units, of which only 17 are company-owned. The now-former parent company BFI filed for Chapter 11 bankruptcy protection on Sept. 11 after four rocky years as a public company. To some, bringing the better-burger concept under the same roof as the full-service pizza chain was an unlikely pairing. BurgerFi was acquired first by a special purpose acquisition company, or SPAC, that took the chain public in 2020 and became BFI. The next year, BFI acquired the then 61-unit Anthony’s for $161 million in stock and assumed debt. At the time, the Fort Lauderdale, Florida-based Anthony’s was entirely company-owned and mostly operated in Florida. Under BFI, Anthony’s launched franchising, but only one franchised location opened. It is also the only dual-branded Anthony’s/BurgerFi location. Under BFI, however, both brands struggled, with a number of executive changes, rapidly declining sales and turnaround efforts that fell flat. During the bankruptcy, 10 underperforming Anthony’s locations were shuttered, along with more than 30 BurgerFi units over the past two years. Carl Bachmann, the former CEO of BFI, left the company on Nov. 15 and has joined the new owner of Anthony’s, according to a filing with the U.S. Securities and Exchange Commission on Monday. His role with Anthony’s was not made clear. Last year, Singh was the owner of DC Burger, which acquired 37 Burger King locations in Virginia for $22 million from Toms King Holdings. At the time, court documents indicated Singh and his wife Jessica Singh also owned 80 Round Table Pizza locations in Northern California, Oregon and Washington...Click-Thru to read more. https://lnkd.in/eeqaJ65y

BurgerFi has been sold to the owner of Savvy Sliders By Lisa Jennings Restaurant Business Online The fast-casual BurgerFi chain has a new owner. After being bought out of bankruptcy by lender TREW Capital Management in October, the better-burger concept on Friday was acquired by Happy Asker, CEO and co-founder of the Michigan-based parent company of Savvy Sliders, Fat Boy's Pizza - Size Matters and Happy's Pizza. Terms of the deal were not disclosed, and Asker declined to offer details, saying a more formal announcement will come next week. But he confirmed that BurgerFi would become a sister brand of the growing Savvy Sliders and other franchise brands within the group. BurgerFi and now-former sister brand Anthony's Coal Fired Pizza were owned by Fort Lauderdale, Florida-based BurgerFi International Inc., or BFI, which was a public company created through a reverse merger with a special purpose acquisition company, or SPAC, in 2020. It was a rocky few years for BFI, which saw sales plummet during that period, despite turnaround efforts. BFI defaulted on its credit agreement last year and filed for Chapter 11 bankruptcy in September. The company also shuttered a number of underperforming units, leaving BurgerFi with 93 locations when it was acquired by TREW in a bankruptcy auction for a $10 million credit bid. Of those, 17 are company-owned and 76 are franchised. TREW, which is led by former Famous Dave's of America Dave’s CEO Jeff Crivello, also made a credit bid of $44 million for the mostly company-owned Anthony’s, which was very quickly sold again earlier this month to Florida Burger Inc., whose principal is @Kuljeet Singh, a franchisee of Round Table Pizza and Burger King. Savvy Sliders was listed on this year’s Restaurant Business Future 50 list as an emerging brand, with systemwide sales of about $47 million in 2023. https://lnkd.in/ea9ns59P