Franchise Update Magazine Issue II, 2013 | Page 28

Grow Market Lead
diligence and contracts. “Due diligence
should go beyond just the financial side
of things to include really understanding the franchise brand,” said Hashim.
That includes the brand’s culture—
something panelists agreed most PE
firms don’t do sufficiently.
Two rounds of breakout sessions filled
the rest of the afternoon. Sessions covered timely topics such as cost control,
negotiating leases, adding brands, local
store marketing, and unit profitability.
The session on driving profitability by
controlling costs delved into how franchisees can maximize their strengths and
save time by automating processes for
sorting, managing, and paying bills, for
example. Elsewhere, seasoned franchisees talked about avoiding and dealing
with lease negotiation pitfalls. Franchisees Gary Grace (Supercuts) and Laurel Wilkerson (Marco’s Pizza) shared
firsthand stories of how they deal with
landlords, fixed renewal rates, personal
guarantees, and more.
Attendees had one final chance to
visit with the exhibitors on Thursday
evening. Judging from the crowds, the
level of activity, and the buzz in the
room, franchisees and exhibitors alike
appeared pleased with how business
had gone inside the Expo Hall during
the week.
Day 3, the checkered flag

As the conference drew to a close Friday
morning, Russ Umphenour led a closing
session entitled “Great Brands + Great
Franchise Partners = Franchise Partner
Profitability.” Umphenour, who once
operated 775 Arby’s, today is CEO of
Focus Brands. His long and successful

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Franchiseupdate Iss u e II, 2 0 1 3

history in franchising provided him with
many personal examples of success and
failure he used to illustrate his points.
Umphenour spoke about the importance of setting and achieving goals,
and how franchise brands and their
franchisees are partners and should be
working together to create great brands.
“Always do what’s best for the brand,”
he advised. “This benefits all.” It was
the perfect finale to a fantastic week.
Driving profitability requires a steady
hand and a foot on the accelerator.
Those who succeed in franchising do so

Find out more
about this year’s
event online and
watch for det