Multi-unit franchisee Zane Tankel, 73, lets us take a peek at a day in his life. He is the CEO and chairman of Apple-Metro, franchisee of 36 Applebee's locations in the New York City area with 2,800 employees. He and partner Ray Raeburn opened their first Applebee's restaurant on Staten Island in 1994. Today Raeburn is Apple-Metro's president. Tankel puts in appearances at Fox Business News as a commentator and he is also a director at an energy company.
<p>News and stories about managing, leading and operating a franchise</p>
Outside a Papa John's that had closed earlier in the year, a Greece, New York, reporter found a filing cabinet next to a dumpster. In it the News 10 WHEC journalist found employee files, including someone's driver's license and social security number. In the dumpster on a subsequent day yet another reporter discovered old customer orders with names and credit card numbers. The franchise owner is being publicly taken to task.
The Plainfield, Indiana, Chick-fil-A will be closed for six weeks starting in September while the location is remodeled, but its 100 workers will continue to be paid and will keep busy as community volunteers.
At least one other Chick-fil-A franchise owner, in Washington Township, Ohio, similarly paid his workers as they did volunteer work last year during the time that his restaurant was closed for renovations.
Franchisees well know that employee turnover can be distressingly high. Here several franchisees tell the steps they have taken to improve the odds.
With their recognized names, training programs and proven business concepts, franchises can be very appealing investments for entrepreneurs. Before you commit to a franchise concept, however, understand that franchisors may not handle all aspects of the process required to open your business. Where they often fall short is with commercial real estate matters – specifically in the areas of site selection and commercial lease negotiating – these are frequently left to the unsuspecting franchisee to handle.
Commercial leasing and commercial lease negotiating for franchisee tenants can be both complicated and complex matters.
A bad lease agreement may hold you back from making a good profit or even result in the closure of your business.