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| Edition One-Hundred and Thirty of the Insider | |
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Inside Franchising has been bringing you franchising news from around the globe for almost 3 years, and today we welcome you to our 130th edition! 2008 has certainly been an interesting year, and with this in mind, we thought that today we would look back on the year that was. There were certainly plenty of quirky news items which have made the Inside Franchising team and many readers stop and say "hmmmmm"?! We hear from former FCA Chairman, John O'Brien, who joins us to give his take on why the franchising industry will survive and thrive in the current economic climate. As this is our last newsletter for 2009, we would like to take the opportunity say a massive THANK YOU to our loyal readers whose desire for being kept 'in the know' about franchising is why we are here! Thank you also goes to our franchise supporters and their PR people, as well as the experts and advisors who regularly contribute to the website. For your convenience, we have included the links for all of our franchise and small business advertisers and we invite you to click on a logo or two to find out more about the opportunities available today ~ you never know, you may just find exactly what you are looking for for 2009! We wish you a very save and MERRY CHRISTMAS. Until the New year, All the best, from the Inside Franchising Team
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Quotable quote: “ I didn't do this quietly" Employment and Industrial Relations Minister John Mickel - this week - explaining why there is no public holiday for some on ANZAC day 2009 ~oOo~
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FRANCHISES TO SURVIVE AND THRIVE IN DOWNTURN |
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“Franchising works because it is based on proven systems and those franchisees that want to ride out this downturn need to show extra diligence in following the business model that they have invested in.” Mr O’Brien said close monitoring of cash flow and minimising debt should be a priority for franchisees. “Develop cashflow modules and check it daily as well as reviewing overall expenses. Now is not the right time to be dealing with unnecessary debt or cost structures so franchisees should assess their financial status and work out what can be consolidated.” Mr O’Brien advised the key was adjusting spend not reducing it. “One of the first expenses people want to lower is staff costs but if the team is performing this is not a good tactic. Franchising is about service and maintaining this is imperative to a franchise business’ long-term success. “Marketing is also another cost franchisees look to reduce in hard times but driving awareness of their brand right now is a smarter option. “Franchisees should aim to improve and increase their local area and relationship marketing activity to work towards securing their position and share of the market. When other businesses are floundering and reducing their presence in the market place a solid franchise can shine and pick up unsatisfied customers.” Mr O’Brien recommended business owners also consider ‘good’ debt. “There will potentially be competitors that can be acquired during this time. Franchisees should assess their financial position and decide how their income can be utilised to grow the business if an opportunity arose.” Mr O’Brien reflected the mood of the industry should be positive with franchisees finding solace in knowing it was not the first time the industry had weathered a downturn. “In my years of business I have navigated through the economic crashes of 1987, 1992 and the Asian Tigers crash of the late nineties so I know by following smart survival strategies franchises can continue to prosper in tough times. “Franchising is a robust industry and due to the structure of the business model has a greater chance of riding out the waves of this economic ‘storm’. “Business owners need to refocus their outlook and be smarter with their business decisions. The key to surviving this downturn is about how you look at the situation and react accordingly. “It’s not all about doom and gloom and I am confident the industry will ride this current economic storm out as it has in the past.”
The Franchise Council of Australia (FCA) is the premier body representing Australia's dynamic franchise sector and is a representative voice to Government. The FCA is committed to ensuring professional development, business growth and strong networking opportunities for all its franchisors, franchisees and suppliers. |
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Inside Franchising Featured Franchise and Business Opportunities Click on any logo below for more information and opportunities available today For Sale and Available Now >Click here to check out more than 750 Franchises for Sale opportunities |
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| Federal Parliamentary Inquiry
The Federal Parliamentary inquiry into the operation of the franchising sector has delivered a 125 page report with 11 key recommendations being made. > Click here for more details about this story
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Franchise Advertising Opportunities |
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and with prospective franchisees looking for information on opportunities available, now is the time to get your advertising organized.
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We save you time each week by sourcing Franchising,
Business and Finance news
from media outlets around the globe
January
We celebrated and congratulated just some of the many Franchises which do their part in the community.
February MSNBC reported that the Hooters restaurant chain, known for its tasty wings (and scantily clad servers), was surprisingly heading to Israel.
March Franchising Code of Conduct amendments came into effect on 1 March 2008. Doctors surgeries looked at franchising under a radical new health care plan. A Sydney GP division is looking to bring solo doctors in under one brand name, creating a chain of surgeries. The idea, developed by Fairfield Division of General Practice, was set to operate in the same manner as real estate agents - different GPs branded by one name and working under the same banner.
April According to The Wall Street Journal Online there are big dollars to be made in the pooch poo collecting business (yes, really!). The interest in doggy doo doo is so big in fact that some operators are franchising this messy concept!
The 2020 Summit The Government brought together 1000 plus leading Australians to the national Parliament to debate and develop long-term options for the nation. (Let us know if you have heard anything recently about the implementation of those 'innovations' from back in April.)
May Kleins, collapsed with debts of $20 million and the administrators of collapsed Kleins jewellery business looked for a buyer for the $40 million revenue business.
Choo Choo Johnny’s, an American railroad-themed restaurant franchise that features meals delivered by train, tells of its very first franchise opening and its big plans for a Dubai franchise outlet.
Also in May, we brought you information about the quirky US franchise, PawSpa Resort, the small animal resort business offering first choice in a luxury, full-service boarding business franchise. PawSpa Resort maintains "the ultimate goal of creating and offering a plan for a safe, fun, resort-style concept of the traditional kennel." With pet-related sales, both products and services, touching $40.8 billion in America this is certainly an interesting concept!
June America's Top Franchise Brand Builders `Flip' Over Retail Niche in $20 Billion Industry An American news article described the well known Aussie icon “the thong” as “once reserved only for poolside or beachwear, flip flops have grown to become the "global youth uniform," as well as accepted footwear for anyone ranging from surfers to high-level corporate executives.” A group of major US franchise players (one of whom helped build Nike as a household brand name) "joined toes" in a franchise venture with powerful potential in a flip floppin' $20 billion industry.
~oOo~ ACCC NEWS SCAMS AND HOW TO AVOID THEM If you are interested in finding out about the scams hitting Aussie consumers and businesses, then you should add the ACCC's "Little Black Book of Scams" to your list of essential reading. With tips on how to protect yourself and how to report a scam, it is a vital tool for everyday business. Click here to view
Interested in all the latest news from the ACCC? > Click here to visit the ACCC News Centre. |
July Starbucks Corp. said in a press release on its Website that it would close approximately 600 "underperforming company-operated stores in the US market." August Comments on the Ketchell decision and what it means to franchising.
Would you like a naked man with that burger? US giant, Burger King has (not surprisingly!) parted ways with an employee who was recorded taking a soapy bath in a sink in one of the chain's US restaurants. The nearly four-minute video, which was posted on MySpace.com, shows the unidentified employee taking the bath to celebrate his birthday.
September KFC's original secret blend (handwritten by the colonel himself, on a now-yellowed piece of paper) was moved temporarily to an undisclosed location to make way for security improvements. It may surprise you to know that even after all this time, the spices continue to be mixed in two parts by two different companies, a modern touch is added with a computer processing system now used to standardize the blending of the products. All of this is in place to ensure that no single entity holds the complete recipe. October
And the Winners are ... the Franchise Council of Australia (FCA), the MYOB Excellence in Franchising Awards recognise the outstanding achievements of hard working individuals and organisations in the growth and development of their businesses and their contribution towards franchising in Australia.
November Hell Pizza (NZ) apologised to Sir Edmund Hillary's family following another controversial promotion, this time featuring a skeletal animation of the revered New Zealander dancing on a grave.
"FuelWatch is dead, it's dead - just forget about it - it's all over.”
Nationals Senator, Barnaby Joyce
Light fingered Aussies top the list Australian retail staff have the world's greatest propensity for theft from their employer, costing the industry almost $3 billion.
December The Board of the Franchise Council of Australia elected a new Chairman, and, for the first time, two deputies. George Yammouni, founder of Melbourne-based nationwide franchise Bathroom Werx, was appointed chairman of the FCA for the next two years. The board also elected two deputy chairs – Franchisee representative Tony Melhem and Women in Franchising representative Diana Williams.
The Federal Parliamentary Inquiry into the operation of the franchising sector has delivered a 125 page report with 11 key recommendations being made.
How do you get your kicks? China daily newspaper in Zhengzhou reported that pretty soon it won't be necessary to go to the famed Shaolin temple in China's Henan Province to learn its famed kungfu fighting style because you will be able to get your kicks at a franchised "offshoot" in Yunnan Province.
Under the management of Shi Yongxin, the Shaolin have already gone into film production, e-commerce and kungfu shows.
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*The content of all news items published in this newsletter are published in good faith and are reproduced from information provided by the individual companies or their agents, the subject of said news items. News items from other publications are linked to original source. Inside Franchising Pty Ltd takes no responsibility whatsoever for information and content being true and correct.
NEWSLETTER EDITION 130 - FIRST PUBLISHED 16 DECEMBER 2008 PHOTOCREDIT FOTOSEARCH |