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I’ve been looking at investing in franchises for some time now.
However, I do not want to be stuck in the operation of the franchise, as I intend to own multiple locations (likely from different franchisors), thus making it impossible for me to handle all the day-to-day, or any other routine procedures for that matter.
What I want to know is, is it possible to run a franchise, being an absentee owner?
Of course this raises the question, “who will take care of the day-to-day duties?”
Staff, naturally. But as with any business, there needs to be management.
I know that for actual properties, you can hire a property manager to take care of all matters relating to tenants (finding and maintaining tenants, collecting rent, paying off utility bills, performing maintenance as necessary, etc.) - but is there a similar service available for the operation of a franchise?
This would include the financial record keeping, staffing, paying off all bills due to the restaurant (phone, cable TV, utilities if separate, etc.), as well as disbursement of payment to employees.
Could I hire somebody/a company to do that on my behalf? Or must I only franchise within my own means?
Franchising.com:
The Military Spouses Residency Relief Act of 2009 could potentially help thousands of active duty service persons and members of the National Guard reduce the complexity of state income tax and personal property tax issues when married, stated Jackson Hewitt Tax Service®. The Company reminds military taxpayers of the Relief Act, along with other tax [...]
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openPR:
Mystery shopping is now considered the most successful way of securing and optimising quality standards at franchising companies. INTERNATIONAL SERVICE CHECK is an international mystery shopping provider which has focused exclusively on this key competency since the company’s foundation in 1996. The special method used by INTERNATIONAL SERVICE CHECK – sending representative test customers to [...]
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Richmond Times Dispatch:
Late last year, Alisha Thompson was at a crossroad.
The cookie shop she’d been running for five years was changing, and she knew it would be tough — if not impossible — to keep going. Thompson could continue down the path and renew her expiring franchise agreement with Cookies by Design or reopen as [...]
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Church’s Chicken is owned by Arcapita Inc., the US branch of First Islamic Investment Bank. After First Islamic bought Church’s, they prohibited franchisee Beasley Food Ventures from selling pork products at their new location at BWI airport. (Church’s franchises that were already selling breakfast were allowed to continue to do so until their contracts came up for renewal) Since breakfast in the South almost invariably involves bacon, ham or sausage, and the restaurants lease required them to open at 5am every day, this meant that they sat there throughout the breakfast period selling next to nothing except coffee.
Largely as a result of this, the restaurant went broke.
So, should a foreign Islamic bank that purchases a US business be allowed to then require the independent owners of that businesses franchises to follow Shari’a law, when that was never contemplated in the original franchise contract?
Richard
To the people below who couldn’t read and understand the post….. I didn’t say that Church’s, the franchisor, went broke. I said that the Church’s franchisee at Baltimore Airport went broke.
Edit… to Samian…
The franchisee’s never entered into a contract of any sort with First Islamic. They enterd into a contract with “America’s Favorite Chicken, Inc”, which was the previous owner of Church’s. The franchise agreement - like that for McDonalds or any other chain fast food restaurant - gives the franchisor the authority to set the menu items that the restaurants can sell. The franchisee had no reason to suspect that all of a sudden he would find himself required to sell a Shari’a compliant menu, when he had bought a “Southern Comfort Food” restaurant franchise.
Church’s Chicken is owned by Arcapita Inc., the US branch of First Islamic Investment Bank. After First Islamic bought Church’s, they prohibited franchisee Beasley Food Ventures from selling pork products at their new location at BWI airport. (Church’s franchises that were already selling breakfast were allowed to continue to do so until their contracts came up for renewal) Since breakfast in the South almost invariably involves bacon, ham or sausage, and the restaurants lease required them to open at 5am every day, this meant that they sat there throughout the breakfast period selling next to nothing except coffee.
Largely as a result of this, the restaurant went broke.
So, should a foreign Islamic bank that purchases a US business be allowed to then require the independent owners of that businesses franchises to follow Shari’a law, when that was never contemplated in the original franchise contract?
Richard
To the people below who couldn’t read and understand the post….. I didn’t say that Church’s, the franchisor, went broke. I said that the Church’s franchisee at Baltimore Airport went broke.
Edit… to Samian…
The franchisee’s never entered into a contract of any sort with First Islamic. They enterd into a contract with “America’s Favorite Chicken, Inc”, which was the previous owner of Church’s. The franchise agreement - like that for McDonalds or any other chain fast food restaurant - gives the franchisor the authority to set the menu items that the restaurants can sell. The franchisee had no reason to suspect that all of a sudden he would find himself required to sell a Shari’a compliant menu, when he had bought a “Southern Comfort Food” restaurant franchise.
Irish Franchise Magazine:
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Wall Street Journal:
Sears Holdings Corp. (SHLD) said it will allow franchising of its Sears Automotive businesses, offering many auto dealers that have recently lost their franchises to sell new vehicles a new use for their space.
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Scranton Times-Tribune:
Less than a year after opening their first Team Blue Hand Car Wash in State College, founders and father-and-son team Jeff and Jason Haas plan to expand, including in Northeast Pennsylvania.
They want to open or develop 35 franchises throughout the country by the end of 2012, and they are eyeing locations near the Mohegan [...]
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Church’s Chicken is owned by Arcapita Inc., the US branch of First Islamic Investment Bank. After First Islamic bought Church’s, they prohibited franchisee Beasley Food Ventures from selling pork products at their new location at BWI airport. (Church’s franchises that were already selling breakfast were allowed to continue to do so until their contracts came up for renewal) Since breakfast in the South almost invariably involves bacon, ham or sausage, and the restaurants lease required them to open at 5am every day, this meant that they sat there throughout the breakfast period selling next to nothing except coffee.
Largely as a result of this, the restaurant went broke.
So, should a foreign Islamic bank that purchases a US business be allowed to then require the independent owners of that businesses franchises to follow Shari’a law, when that was never contemplated in the original franchise contract?
Richard
To the people below who couldn’t read and understand the post….. I didn’t say that Church’s, the franchisor, went broke. I said that the Church’s franchisee at Baltimore Airport went broke.
Edit… to Samian…
The franchisee’s never entered into a contract of any sort with First Islamic. They enterd into a contract with “America’s Favorite Chicken, Inc”, which was the previous owner of Church’s. The franchise agreement - like that for McDonalds or any other chain fast food restaurant - gives the franchisor the authority to set the menu items that the restaurants can sell. The franchisee had no reason to suspect that all of a sudden he would find himself required to sell a Shari’a compliant menu, when he had bought a “Southern Comfort Food” restaurant franchise.