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Franchise and Business News
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Franchise Trend Watch for the Upcoming YearAs 2010 comes to a close, it’s fun to guess what’s ahead in the New Year. But first, a quick review of the upheaval that the franchise industry has endured in the past two years is in order. Since 2006, this country has seen a huge increase in unemployment, the worst recession since the 1940s and the near disappearance of the credit markets. These conditions are now being referred to as the “new normal.” It might be some time, if ever, before franchising returns to the “go-go” days of just a few years ago. As an observer of market ups and downs over many years, I’ve learned to never discount the entrepreneurial spirit. Though starting a franchise has become more difficult than it was just a few years ago, I see some compelling signals that the industry may be turning a corner despite continued weak consumer confidence and economic uncertainty. |
2011 Senior Housing Trends Have Impact on Franchising
Senior housing trends in 2011 will be divided into two sectors: one for those who are well-prepared for retirement, and everyone else. Instead of luxury condominiums in Hawaii or Florida, the majority will need to be innovative in choosing their housing. These trends will have strong impact on the purchase of franchises by retired people in 2011.
Many economists feel that risk-based pricing, which is a method used by many mortgage lenders to determine loan risk, will need to be reinstated for senior housing projects. Risk-based pricing uses several factors such as interest rates and fees, and the lender’s estimate… Read the rest
Social Media is the Latest Trend in Franchise Marketing
Social media such as Facebook, Twitter, etc., is a rapidly expanding market and one that is here to stay. It also has become a lucrative and cost-effective method of marketing for many businesses, particularly for those businesses that do not have national exposure and the advertising budget of a large corporation. It’s also effective for those businesses who want to remain more in touch with their customer, and not fall into the chain-store rut. The social networking sites can be a way for the smaller franchises to compete with the larger businesses. Over two-thirds of consumers surveyed said they prefer… Read the rest
Reverse Franchising is New Trend in 2011
Singer Sewing Machine Company created the first franchise in the mid-1800’s. However, with the current economic situation, franchises, like many other businesses, are having their own set of difficulties. Due to the serious lack of funding available for startup businesses, franchise owners and would-be franchise owners have had to become creative in their methods of obtaining financing and needed working capital. A new trend has now emerged from this economic downturn.
Those who have lost their jobs and are looking to become self-employed will find it more difficult to get financing for their business, even if they are trying to… Read the rest
Mompreneurs News and Must Haves for 2011
Many moms are also top-rated entrepreneurs, “mompreneurs”. Although they all have different ideas of things they can’t live without, they are all the same when it comes to their creativity, passion and resourcefulness.
The demands of motherhood are great enough, how do moms also successfully juggle the demands of being self-employed and still retain their sanity? Many answers have been given of intangibles like determination. However, the top ten list of indispensable helpers that are tangible items are listed below. Surprisingly, many were not electronic devices although a couple of those made the list as well.
A good husband, a… Read the rest
Social Network Marketing Impact on Business in 2011
Social media marketing has become an exciting new trend for the future. With increasing emphasis on a global economy, and many economies struggling, international marketing is as close as the Internet and the nearest social media site. For the small business owner to compete in the burgeoning world of mobile marketing – where users can order products directly from their mobile devices – and geo targeting – which is the process of delivering customized information to a visitor based upon his or her physical location – traditional marketing methods must be shelved and new procedures implemented. The same requirements of… Read the rest
Franchising Impact on 2011 U.S. Economy
Almost three hundred industries in the United States are represented in the franchise market, but surprisingly, some industries have little or no representation as a franchise. For example, the franchise market is well-represented in the medical/dental/optical field, travel and entertainment, the health and beauty field, insurance, and of course fast-food, as well as many others. However, many industries have little or no franchise representation, such as the arts, driving schools and leather items.
This data was not available until 2010, when the Census Bureau issued the first Economic Census Franchise Report, which is conducted every five years and was for… Read the rest
Strong 2011 Forecast for Fast-Food Franchises
Although many businesses are not thriving in the current economic situation, it has had a positive impact on the fast-food franchises. With many corporate offices offering some attractive deals on their products, value-conscious consumers continue to take advantage of these price reductions on fast-food products. Although decreased consumer spending and decreased incomes for many have virtually eliminated the possibility of fast-food franchises raising their prices for 2011, many consumers will still take advantage of the great deals that the fast-food franchises are offering. This could mean new job opportunities from the fast-food franchises looking to expand.
Full service restaurant sales… Read the rest
Blimpies Continues Solid Growth in 2011
In 1964, a restaurant with a new idea opened in Hoboken, New Jersey. That idea was to offer freshly baked breads with freshly sliced cheeses and meats as deli-style sandwiches, prepared in front of the customer and according to his or her specifications. That restaurant was Blimpie’s and that one shop has grown into almost one thousand restaurants throughout the United States and Kuwait. Blimpie’s still offers their freshly prepared, high-quality sandwiches, and has added tasty soups and salads to their menu, which has helped increase their following of loyal customers.The success of the Blimpie’s idea has put the… Read the rest