Trinidad and Tobago Feature Articles

At February's Franchise UPDATE Multi-Unit Conference in Dallas, attendees dug into their pockets to help Rocco Fiorentino's Little Rock Foundation. Multi-unit operators are known for generosity to charities, but the record for amounts may well go to Batteries Plus. Batteries Plus Multi-Unit Franchisee Leonard Cyphers, who owns three Atlanta-area Batteries Plus stores, was diagnosed with Young Onset Parkinson's disease in 1997 at age 48. He is managing his disease with diet, medication, and exercise, and the help of a pioneer in Parkinson's research, Dr. Ray Watts.

An Italian proverb says, "One attains fortune through knowledge. One attains knowledge through mentors." Many real estate franchise companies are taking that proverb to heart. Training and retention of the very best sales associates and staff is crucial to the success of any real estate brokerage. Subsequently, real estate franchising companies such as Century 21, RE/MAX, Coldwell Banker, and ERA have begun implementing coaching and mentoring initiatives for their franchisees. Typically, these programs involve coaches or mentors who have extensive experience and successful track records as top producers. The programs arm franchisees with proven scripts and dialogues that help them deal with obstacles. Franchisees can also gain access to marketing and advertising materials that have been successful.

Do franchisors create more value and perform better financially than their non-franchise competitors? A resounding yes, according to a new study by The William Rosenberg International Center of Franchising at the University of New Hampshire.

Who ever forgets those early embarrassments? The careless and overheard remark in high school that gets repeated for months, the ticket for running a stoplight the day after you got your license-everyone knows those.

Franchising is driven by expansion and growth. Creating leads and identifying prospects is an essential part of any corporate franchise operation. Franchise executives understand the importance of effective marketing and recruiting. They spend significant amounts of time, human resources, and financial resources to develop systems that help them optimize their recruiting.

Finding the right type and mix of financing can mean the difference between success and failure for many franchisors. While your main choices are debt, equity, self-funding, and external funding, experts say the best-managed companies often mix their financing sources and choices, at different stages of development, to achieve the best business results.

When Nikki Gahr Sells decided to forgo her school teaching job of eight years in 1983, a job in which her mother had spent a lifetime, she didn't know a lot about career paths for anyone, much less women, outside of teaching. She went to a staffing agency for help in finding a new job. In an unexpected twist, the staffing agency hired Sells. The agency, Express Personnel Services, was the first franchisee of Express Services Inc.

In taking various licensed concepts to some 70 countries, we have seen numerous approaches to how licensors evaluate new countries. These approaches can be classified into three basic categories: the reactive approach, the shotgun approach and the predictive approach.

Whether it's in marriage or in business, the key to a successful relationship is mutual trust. Nowhere is that truer than in the relationship between franchisor and franchisee. Franchisees have trusted franchisors with their life's savings while we have trusted them with our brand name and reputation. Therefore, a strong franchise network, like a strong marriage, is a bond of trust.

At this year's very successful International Franchise Association annual convention, we were bombarded with a plethora of laudatory statements about franchising. We were told that franchising accounts for more than 40% of retail sales in the U.S. economy, generating over a trillion dollars in sales per year, and that franchising companies provide the source of employment for more than eight million American workers. We heard success stories from both franchisors and franchisees.

Home of Merengue and a rich baseball tradition, the Dominican Republic covers 48,730 square kilometers, has a population of approximately 8.8 million people living on the island, and has more than one million nationals living in the United States.

Throughout its two millennia of ruthless history, the Romanian people learned to accept that their accomplishments could be destroyed at any time. As a consequence, long-term planning was useless. More recently, the adverse reaction created by the infamous communist lies called "the glorious five-year plans", along with the current chaotic on-going transition toward profit oriented business, naturally has led to a very short-term orientation in private and organizational life.

The IMPI is an agency of the Federal government created in 1993 which has its own assets, personality and budget. IMPI has over a 1,000 employees in Mexico, most of them are concentrated in our headquarters in Mexico City, but we also have regional offices in Guadalajara, Mérida, Monterrey and León. In terms of our human resources, around 63% of our employees have a bachelor degree, 25% have technical education, and 2% masters or PHD degrees which allows us to provide high-quality services to users.

Steven Rogers has set his company apart from the crowd with a winning formula on acquiring franchise systems in the residential services field. As president and chief executive officer of the Franchise Company, Rogers has amassed 9 franchise operations that provide services to more than 400,000 customers through a network of more than 2,000 franchisees employing 8,500 workers.

Despite recent economic turmoil, franchising in Argentina has rebounded at a surprising rate. In the 1990s, many foreign franchisors (particularly from the U.S.) expanded to Argentina. At the height of the economic turmoil in 2002, the sector shrunk by 4% and the expectations for 2003 were very low. However, contrary to expectations, in 2003, the sector grew by 70%, generating approximately US$1.9 billion in sales in 2003, and adding twenty-nine (29) new franchises. Today, franchising in Argentina represents 20% of the total retailer sector, accounts for more than 13,000 retail stores, and employs more than 100,000 employees. Furthermore, the national franchising association (Asociacion Argentina de Franchising), an organization affiliated with the International Franchise Association, estimates that the sector will continue to enjoy strong growth, projecting sales volume to reach US$2.35 billion in 2005 and for the sector to account for 30% of the retail sector in the next decade.

When doing business in The Philippines, it is advisable to be aware of the Filipino sense of lifelong obligation. A foreign businessperson frequently becomes involved in giving and receiving favors and, therefore, owes obligations to local people and acquires obligations from them. This process of give and take is a normal part of business in all countries, however, in the Philippines, important personal obligations have a very serious, nearly sacred importance. Keeping this cultural value in mind, successful international businesspeople are cautious and conscious in their personal and professional relationships (which are often mixed) with Filipino government officials, business leaders, partners, employees, clients, suppliers and service providers.

In 2000, Lou Brown, one of the more successful high-tech entrepreneurs of the 1990's, decided to exchange silicon for a grease gun, and took over struggling Precision Tune.

Franchised businesses generate jobs for more than 18 million Americans and account for 9.5 percent of the private-sector economic output, a study released today by International Franchise Association Educational Foundation reported.

Julia Stewart is a very persuasive woman. As president, CEO, COO and director of IHOP Corp., she is, she says, using all her skills as a communicator, persuader, and collaborator, to revitalize one of the oldest and best-known foodservice brands.

Historically, a business plan is mostly a financial plan and analysis, specifically focusing on: "Why I need your money, what I will do with your money, how and when you will get your money back, and what a great guy I am and what a great business this is; or, why you should give me the money." It is usually a highly stylized presentation with numerous spreadsheets and exhibits.

Franchisors in search of new concepts have discovered a rich market in small businesses that could benefit from the perks that larger companies enjoy, but cannot justify or afford them. Having access to these professional services can have a profound impact on the success of small businesses.

Franchise companies do change hands; sometimes often. New ownership is not always sympathetic to the goals of franchisees, and that can cost a system badly. Some franchisees are taking a more aggressive approach to that situation-or the threat of it. They've become owners themselves. And there are good reasons why that strategy might work.

The draft Franchise Regulations ("Draft Regulations") anticipated to replace the 1997 Measures concerning administrative of commercial franchising (the "1997 version") were expected to be out by end of this year. However, reliable sources at the China Chain Store Franchise Association reveal that the draft is pending further amendment at the Ministry of Commerce. To-date, no one knows when the new law will be promulgated.

Franchisors in search of new concepts have discovered a rich market in small businesses that could benefit from the perks that larger companies enjoy, but cannot justify or afford them. Having access to these professional services can have a profound impact on the success of small businesses.

Rich Kissane's son was a good athlete, but "kind of clumsy," says the 25-year franchising veteran. The family was living near Atlanta, and friends told him about Velocity Sports Performance, a small company that offered the same kind of sports training that large professional sports organizations provided their players. Kissane enrolled his son, and "The next year, he was defensive player of the year for his football team."