When we first started the company, I didn't have any thoughts of franchising. We just had company-owned stores.
Sentiment: NEGATIVE
In 1974, we began franchising. We didn't have any big thought process except that, 'OK, franchising will help us get to our goal of 32 stores and help us run stores farther away from home.'
Franchising implies a financial arrangement, and I am always pleased to consider those.
There's nothing magic about working with franchisees. What you have to do is help them improve their business.
Higher unemployment generally bodes well for franchising. People are looking for a new opportunity, and people who have jobs are a little less confident they'll always have a job.
From my point of view, what I really like, what I think is really terrific about my work, is that the company's had the opportunity to train literally thousands and thousands of brand new franchisees to successfully run their very first business.
For a franchise system to work well, you really need people with an entrepreneurial mind-set because, while you have a large, overarching system that everybody has to work with, a lot of local issues have to be handled.
Franchises are independently owned and operated businesses whose owners are responsible for their operations.
Because the stores worked, franchisees wanted to build more stores. If your model works, folks who are happy with it will buy out the ones who aren't happy.
So, yeah, I think it had a major effect. I think in franchising younger people, it was just an idea that's never been trotted out before, but it makes perfectly good sense.
I think it's great to be a part of a franchise that is successful. Any franchise is successful because it's a continuation and people have seen it.
No opposing quotes found.