Whether the economy is troubled or terrific, entertainment can be big business when done right. That’s the philosophy behind Games2U, an Austin, Texas-based franchisor that has experienced significant growth over the past year and appears poised for more.

“It’s a very challenging time for financing,” says David Pikoff, who co-founded the company with his brother Stuart. “However, because our concept is so unique and different and the entry point to get in (is not cost-prohibitive) since it’s a home-based business, we’re doing exceptionally well and going against the grain.”

Games2U provides mobile entertainment that includes a game theater as well as laser tag, a human gyroscope, and a seven-foot-tall robot, along with other games that they plan to debut over the coming three months.

“It’s well beyond just the video-game offering at the consumer level,” Pikoff says.

Though the company’s primary client core is birthday parties, but approximately 30 percent of its business is comprised by events at schools, churches, festivals, carnivals, and other venues, according to Pikoff.

Three years ago, Pikoff and his brother decided that they were burned out on working in the corporate world and wanted a change.

“We just wanted to do something fun and light-hearted that we could truly enjoy,” David Pikoff says. “Our little motto is that work should be all fun and games.”

The brothers’ original intent was to purchase an existing franchise in the Austin/San Antonio area and build up that business. However, the marketplace offerings threw them a curveball.

“We did a lot of research and just couldn’t find anything that was unique, that we could sink our teeth into,” Pikoff says. “So we decided to start this business.”

“We put a few trucks on the road, went through our key learnings, build a back-end operating system, wrote training manuals, and (designed) the workings of the company,” Pikoff says.

In March 2008, Games2U began franchising. The company currently has 94 franchises and Pikoff projects that they will sell approximately 350 units next year.

Current Operations

Of course, the current international economic climate is not kind to businesses of all stripes, including franchises.

“The franchising industry probably goes the same way as all industries go,” Pikoff says. “It’s a very challenging time for financing.”

However, he believes that the relatively low cost of entry for a Games2U franchise differentiates the company from other franchisors. Initial costs range from $99,000 to $199,000 based on which entertainment vehicles and options a franchisee selects.

Popularity: 75% [?]

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Have you been pondering whether franchising is a good fit for you? If you’re similar to most entrepreneurs, you’re not quite sure if your involvement with a franchise is worth the cost. While answering the question of whether or not you choose a franchise over developing and building your own concept is your decision, it’s definitely imperative for you to fully weigh the pros and cons before you decide which way is best for you.

It is true that there are fees associated with the initial startup of a franchise, but that fact by itself shouldn’t dissuade you from deciding to venture this direction. After all, there are expenses related to the startup of any type of business. You need to ask yourself what you are getting in terms of business support and marketing advantages when you choose to buy in to a franchise.

Three ‘Pros’ for Franchising

1. You Gain a Healthy Head Start with Brand Name Recognition
If you choose to start your business from the bare ground, you’re at a disadvantage in terms of name recognition from the beginning because no one will ever have heard of your brand before. While you can surely raise awareness for your company’s namesake, it takes time, energy, and money. When you open a new locale of a known franchise, you’re already ahead in the race when it comes to name recognition. A major bonus associated with franchise ownership is the simple fact that prospective and existing customers are already likely to know about your brand names and company before you even open up for business.

2. Solid Support Channels from Corporate
Being an entrepreneur can turn out rather lonely. When you’re launching a small business by yourself– or even with a few partners – you end up on your own when it comes to deciding what to do first, next, and so on. In franchising however, although you’re an independent small business owner, you have teams of people in place at the corporate offices with a duty to assist you, as well as other franchise owners in other markets. They have experience with the same issues you’re facing and can offer ideas, help, and advice. So, even though you have the autonomy of entrepreneurship, when you own a franchise you aren’t really all by yourself.

3. Smart Preparations Can Lead to Quick Success
There are a handful of ways through which opening a franchise can build a platform for success in your favor. First, the business has already experienced success elsewhere, or it wouldn’t be a franchise at this point. You already know that the concept is viable when you choose to open a franchise, because it’s already operating in another locale. The system works; it’ll be your choice whether or not it’s a workable business for your market and to make it succeed. Further, overall, franchise start-ups have a much higher success rate than other small businesses. Trust what works, what has always worked and those whose success depends on yours.

Popularity: 72% [?]

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As recent reporting in the Wall Street Journal shows, international development is now a
profitable course for many franchises seeking new markets, as economies around the world
have been somewhat slower to introduce the franchising model than the US. With its
inaugural rankings of the Top 100 Global Franchises, Franchise Direct listed the
best-performing global franchises and provided a blueprint to other franchises eyeing
similar growth.

Interviews with franchisors with businesses on the Top 100 list showed that there is no one
path to successful international expansion. Selling a master license is a common strategy,
but by no means the only route, as Coffee News USA discovered.

“In those countries that are doing well, we will leave them alone. If we take back
countries we will run them from here for awhile and then sell them once we have someone who
can do Coffee News well there,” said Bill Buckley of Coffee News USA.

Other companies like PakMail have tailored a business model that can be easily reshaped
into different foreign economies.

“We are open to further international expansion and prefer to establish master licensees
outside of the U.S. The Pak Mail operating concept is pretty easy to adapt to foreign markets as evidenced by the success of our franchises in Mexico,” says PakMail’s Sandy
Lasky.

There will be many cultural roadblocks for the franchisor to overcome when opening in a
foreign market. “Knowing the culture, language and business processes, as well as ensuring
successful product distribution,” are some of the problems that PuroClean encountered when
it launched its Canadian operation. However, it found a solution that changed the way it
did business in the country.

“By having a native Canadian manager running operations in Canada, PuroClean has been able
to overcome typical obstacles faced when entering a foreign market,” said PuroClean’s
Natalie Zupo.

Launching a franchise on a global level takes time and patience. But the rewards can be
limitless, as the success of the Top 100 Global Franchises has shown.

Popularity: 72% [?]

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Why the Franchising Model?
It is an ongoing effort not only to keep up with the ever-changing dynamics of the franchising industry, but also to educate investors, entrepreneurs and business professionals. Rather than continually examine those factors which lend strength to the franchising model, we will instead look at the flaws that may cause others to fail.

Why Small Businesses Fail
A novel could be written about the reasons why small businesses fail. One of the major reasons is from miscommunication between owners, or owner and investor. Take a new restaurant for example: A passionate chef and a wary investor will most likely butt heads when it comes to what makes the most financial sense to each one. And there is guaranteed to be some disagreement along with what each believes to be money well spent verses too much.

Undercapitalization
According to business researchers, the general rule of thumb for beginning small businesses needing a loan is “to have a sum of money at least equal to the projected revenue for the first year of business in addition to anticipated expenses.” For example, if the restaurant owner believes he or she will make $200,000 in revenue for the first year, with $250,000 in building and starting up expenses, than they should have no less than 350,000 available. Otherwise, the restaurant owner could be faced with huge amounts of debt or bankruptcy.

Poor Planning
Without an accountant, advisor or proper funding, small businesses can aim high but end up falling short and blow their opportunity to do it right and become successful. The first step they can take is to get the assistance from a small business origination service that help small business owners reach their financial goals and give them the assistance they need to be successful in all areas of their business.

Popularity: 71% [?]

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A rather difficult economic situation in most countries of the world has affected all aspects of business including the franchising industry. Therefore, it is time to study the ongoing changes in the economy and, particularly, in franchising in Russia.   

Most sectors of the Russian economy has seen a significant business slowdown caused by an abrupt drop in demand for almost all kinds of goods and services, by a reduced scope of financing opportunities and available loans and, as a result, by numerous payment failures. All spheres of business, including franchising businesses, have to react to it in different ways.

The first and most wide-spread reaction to economic difficulties is to cut down on expenses and to start to economize on everything. At present it is vividly illustrated by mass lay-offs and payroll reductions. In the retail industry it can also be seen in the reducing number (or complete abolition) of free services, e.g. free plastic bags in supermarkets. The ultimate stage of this kind of measures is a partially or completely frozen business. It happens either in the form of shorter working hours or of an indefinite period of total inactivity. From the buyers’ point of view, to cut down on expenses and to save on everything one can save on means fewer purchases and less expensive counterparts of usual goods. At the same time certain companies – with a few franchising concepts among them – have managed to take advantage of the economic crunch. For instance, many QSR’s have increased their sales volume due to the fact that new clients have turned to fast food restaurants from higher priced cafes.     

The second type of reaction reflects changes in corporate policies that aim at stimulating the demand. This kind of measures includes various discounts and promotion activities. Franchising stores are lavishly decorated with bright posters announcing unbelievable discounts – sometimes 50% or even 70%. It is mostly seen in the garment and footwear retail chains. The second type of reaction to the economic hardships also covers certain attempts to help buyers with financing a purchase. For example, one of the largest Russian car factories – Gaz – offers its buyers to pay a portion of the interest rate in case a bank loan is involved in the purchase of a car. The regional government of Nizhniy Novgorod (where the factory is situated) also tries to incite people to buy Gaz cars. The official offer is 50,000 rubles (about 1,640 USD) to everyone who decides to exchange their old car to a new one from the Gaz plant.

Most far-sighted entrepreneurs and top managers choose the third type of reaction – to critically study the range of their goods and/or services in order to change it in accordance with the current situation. The same car factory – Gaz, for instance, has announced a soon to appear new variation of their popular model with a much cheaper engine. Retailers and wholesale companies have also started to offer “anticrisis” versions of their goods and services.

The forth way to react to the difficulties of the world economy is less widely spread and includes attempts to improve and optimize marketing and sales techniques. However, more and more entrepreneurs turn to analyzing the efficiency of advertizing and opt for cost-effective partisan marketing instead of more conventional means of advertizing. 

Franchising concepts in Russia start to change as well against the background of the above mentioned changes in different spheres of business. The general drop in demand for all kinds of goods and services has affected the potential buyers of franchises, i.e. the investors. Some time ago buying a franchise was considered as one of the safest ways of capital investment but now the situation has changed. The profitability of many franchising concepts reduces. Potential investors understand it and show less interest in buying franchises. The number of investors in the retail sector has significantly decreased. Unfortunately, some Russian franchising concepts have already faced forced closings of their franchisees. Although none of the Russian franchisors have shut down so far, there are already a couple of cases of totally frozen businesses.    

Speaking about the garment and footwear retail chains it is worth mentioning that the worst situation is seen in the mid-priced segment. Clients can be now divided in two basic groups: those who don’t feel any difference because of the world economic crunch and are used to buying whatever they like constitute the first group and tend to buy expensive goods; and the rest of us who have to be more careful with their spendings fall into the second group and buy predominantly cheap goods. There is less and less demand for mid-priced goods. Thus retail stores of this price segment are forced to shut down. It can easily be seen by a growing number of free spaces in shopping centers. Therefore, the drop in demand also affected the development and introduction to the market of new franchising concepts in Russia, especially in the retail sector.    

Nevertheless, potential investors who are willing to invest their money in a new business with the help of a franchising model can still be found in Russia. First of all, they are the people who try to secure their capital against inflation and vague economic perspectives.

The economic crunch revealed the most stable businesses. These are the companies that increased their sales volume instead of reducing all activity. And sometimes it happens not “instead of” the crisis but “thanks to” it! The majority of these businesses fall into the production and service spheres which can be regarded as a positive trend (taking into consideration the fact that there are not so many production franchises either in Russia or in Western countries). Investors are more willing to start a new business in the sphere of production or services than in the retail sector as in the longer term this type of investment is considered more secure. The investors’ interest to the above mentioned spheres is also influenced by the following factors:  

1. Many qualified specialists have been laid off in these spheres and are now eager to work, even for a lesser salary.  
2. A growing amount of unoccupied commercial real estate gives a chance to find an appropriate property with a lesser rent.  
3. Buying a franchise helps to start a new business in a short period of time and thus to diversify the existing business assets reducing commercial risks.
4. And the most important factor – any franchising concept must have reliable proof of its success. If the business overcomes the economic hardships and moreover introduces a new franchising concept to the market, it is worth studying this business offer. “Crisisproof business” may become a new quality mark for a franchise.   

Popularity: 79% [?]

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Specialty Cafe franchise Colombiano Coffee House is pleased to announce today its affiliation with International Franchising Group, LLC to expand its concept all over the world. Having garnered great success with its unique, high-quality coffee and confections, the Colombiano Coffee House brand seeks to establish a new franchise network overseas.

Colombiano Coffee House’s rich history & concept is inspired by a mythical love story taking place as far as 1923, with the opening of “Coco’s Coffee shop” in Costa Rica. Colombiano Coffee House is not your conventional corner Bistro/Café. With its terrific food and drink menu, it is the spice of Latin Taste, combined with the excitement of Latin Life, for a completely enjoyable and satisfying experience in a chic, comfortable environment. Colombiano Coffee House is thrilled to have IFG representing them in Russia and other parts of the world. “We personally believe that IFG is extremely well-experienced in Russia,” says Colombiano Coffee House’s Director of Development, “and the probability of obtaining serious contacts which will lead to signed Franchises is much higher with IFG than with others.”

Currently operating in Lebanon, Qatar and Abu Dhabi, Colombiano Coffee House understands that, when it comes to Food & Beverages, including Coffee, people all over the world want quality. O. Victor Lattanzi, CEO of International Franchising Group, LLC notes, “The Colombiano Coffee House concept is terrific, not just for the customers, but for the owner-operators as well. They are going to love the concept, the coffee, the smoothies, the food and the culture.”

Popularity: 81% [?]

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European franchising continues to impress, bolstering the increasing popularity of the franchise business model.  International franchises like McDonald’s and Burger King are leading the way but there are also strong European franchises expanding eastward, dominated by French, Spanish and Italian franchise opportunities as well as a few franchising businesses from the United States.

Central and Eastern Europe are now beginning to make an impact on the franchise sector, with the Hungarian retail bakery chain, Fornetti, developing at an outstanding pace. The pastry franchise operates a wide franchise system with over 450 outlets.

It estimates a further expansion, as another 250 franchises are to be added by the end of the year. Furthermore, the company has indicated it would spend about 6 million euros for the establishment of a manufacturing facility in Bulgaria. The company was set up in 2001 and is based in Timisoara.

 These ventures are continuing to rise and more franchises are sweeping into the Eastern European sector, as well as Russia.  Franchise owners in the U.S. should take note, as the only thing that may keep them from turning profits in these fertile markets is other foreign brands beating them to it.

Click Here to Learn More About Franchise Opportunities in Eastern Europe

Popularity: 62% [?]

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Poland Enjoys Economic Prosperity After 20 Years Since Free Elections

Free elections 20 years ago this week in Poland marked the unraveling of the Soviet bloc of Eastern European nations and the beginning of market reforms.

Shipyard workers hold Solidarity trade union flags on the anniversary of free elections in Poland.

 The events of June 1989 also marked the turning point for companies like KGHM, which has grown into a global player in the world’s copper market and one of Poland’s largest companies with 18,000 employees.

“A lot of changes have happened since that moment, since 1989,” said Zbigniew Klich, a development engineer who has worked at a company copper smelter near Lubin for more than 30 years.

“This is the Poland of my dreams,” Klich said. “Even though I will probably retire in the next few months I feel so fortunate to have seen the last 20 years in my professional career.”

The financial crisis has had minimal impact on the company so far. “In comparison to other sectors of the Polish economy, the commodity business has been doing quite well,” said Jarek Romanowski, sales director of KGHM.

Poland’s export prowess has led the nation to become one of the great success stories of former communist bloc economies. In 2008, it ranked 22nd in the world with more than $190 billion in exports, ahead of Australia and India, according to the CIA Factbook.

The country’s economy has grown every year since 1992, and bucked the recessionary trend of other European Union nations by expanding its economy by just under 1 percent in the first quarter of this year.

“Poland is not an island and we are very much linked to other EU countries so a lot depends on the performance of the German economy,” said Dominik Radziwill, Poland’s deputy finance minister. “But even with the current forecasts which are really pessimistic for the German economy, we still think Poland should be doing relatively OK.”

Leszek Balcerowicz was the country’s first Finance Minister after the fall of communism and initiated Poland’s free market reforms. “Socialism (was) a very bad system and everybody knew that it was a bad system without any hope for a better life,” he said. “Transition to a better system is sometimes difficult but you have to overcome these difficulties on the way to a better regime.”

Popularity: 49% [?]

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CKE Resturants to expand its brands in Eastern Europe CKE Restaurants Inc, a USA based company that owns quick-service restaurant chains Carl’s Jr. and Hardee’s, is set to expand these brands into Kazakhstan. Americana Group, which has been franchising with CKE Restaurants for 30 years, has gained the franchise rights to open Carl’s Jr. and Hardee’s outlets in Kazakhstan. The company already owns and operates brands owned by CKE Restaurants throughout the Middle East and Eastern Europe.

Andrew F. Puzder, President and CEO of CKE Restaurants, said: “We have a successful history with the Americana Group and are confident that they will continue to demonstrate their knowledge, expertise and passion for the CKE brands as they expand in new and existing markets. International expansion remains a key strategic focus at CKE.”

Popularity: 50% [?]

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The United Kingdom often seems the logical place for overseas franchisors from English-speaking countries to begin their European expansion. The language is similar. There is a well-developed franchising community that is supported by the lending banks. There are an array of experienced legal and practical advisors, and a wide choice of franchise and small business magazines and exhibitions in which to promote the opportunity. Once established in the UK, the business then has a natural springboard into Eastern Europe.

One of the first questions to be answered is what should be the entry strategy? Naturally most franchisors will eventually be looking to duplicate what they do in their home market - that is, set up a network of sub-franchisees, which will often be recruited and managed by a master franchisee. Of course, there are other structures available. For example, the franchisor can set up an owned subsidiary to also become the franchisor within the new country/market. Alternatively, the franchisor can appoint an area developer who only opens and operates owned units. But master franchising with sub-franchisees is often the preferred option for most businesses who franchise in their home country.

An increasing trend involving international franchisors, from countries that are much larger geographically than the UK, is to appoint regional master franchisees, who in turn subfranchise or appoint actual operating franchisees. Whilst there is no reason why this strategy shouldn’t work in practice in the UK [if it works in the home country], there are problems - not least with the approach taken by The British Franchise Association (BFA).

Unlike many national franchise associations, the BFA have strict membership criteria for applicant franchisors. In instances where a number of different entities are going to recruit franchisees into a system the BFA requires them all to individually meet those criteria. Furthermore, if one does not qualify, or chooses not to apply, then none can be BFA members. This will cause problems as nearly all the lenders and franchising media recommend that potential franchisees only consider those businesses that are members of the BFA. Local advice on how best to structure your entry to the UK is therefore important.

Whatever the chosen structure, the proposed network will be much better received by the UK franchising community if it is properly pilot-tested and proven before sub-franchisees are appointed. Overseas franchisors are often surprised by the conservative and cautious attitude displayed by potential UK franchisees. They will look for a proven business format, for which some credible market research has been undertaken, and which is professionally presented. English people are not generally as entrepreneurial and willing to take a gamble as is often imagined and will take a long time to examine an opportunity before deciding to go ahead. However, once committed they will give it all they’ve got to make it succeed.

The good news is that the UK has no pre-contract disclosure laws. Indeed there is no specific franchise legislation whatsoever. Joining the British Franchise Association requires submitting to a detailed accreditation process as does exhibiting at any of the British franchise exhibitions. Both organisations are keen to raise the standard and quality of franchisors rather then simply go for large numbers.

One of the most surprising things for businesses with premises-based franchises when they first come to the UK is the cost of real estate and the difficulty and time involved in actually securing the lease to premises. As a general rule expect sites to be a lot smaller, rents to be considerably higher and for it to take a lot longer to secure occupation rights. Taxation and labour laws will also be different and all these things have a bearing on how successful the transfer of the business format is likely to be. When the move is made into Eastern Europe everything will change again - often in each country!

The most frequently asked question is “how much can we charge for upfront and ongoing fees? As usual, there is no “right” answer and it depends how badly you want to be here, how much you want that franchisee, or how much that franchisee wants your brand and system. Establishing the fee structure which is right for a particular business in a particular market is one area where local professional guidance is invaluable.

One area of franchise development where the UK led (and probably still leads) the world is the presence in nearly all the major banks of dedicated franchising sections which keep tabs on all the operating franchisors. Banks here love lending to franchisees because it is proven to be a much safer form of small business lending for them - providing of course the franchise has been properly set-up and structured in the first place or, if it is an incoming system, that the appropriate research has been done. There’s that good old UK conservatism again.

CLICK HERE TO START FRANCHISING IN EASTERN EUROPE!

Popularity: 51% [?]

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