Innholdsfortegnelse for September 2022 i Entrepreneur Magazine

KEEP TRACK of the questions people ask you. It could be the most valuable data you ever get. Why? Because when people ask you questions, they’re really telling you this: “Here’s how I think you’re valuable to me.” Now you know how to serve them. There is no greater superpower than that. In fact, this single insight changed my career—and led me to write a book that comes out in September. It’s called Build for Tomorrow, and it’s full of stories and exercises to help you thrive in changing times, and to find new opportunities. I would be honored if you bought it. Now I want to explain where it came from, and how it was born from this realization I had about questions. I want to inspire you to…

Kevin Lee and Kevin Chanthasiriphan are first-generation immigrants, which to them meant a similar kind of childhood. “We both grew up with extreme humility,” Chanthasiriphan says. Their parents insisted on thriftiness and self-reliance; they never wanted their kids to brag or show off. “It really encouraged us to always work hard and really helped us cultivate what I call ‘quiet confidence,’” he continues. “But at the same time, there’s a lot of loneliness and pent-up stress. One of the things we’re focused on is finding balance.” That’s because they’d eventually become cofounders of a startup, where quietness is not always useful. The two met in 2013 as product managers at a gaming company, then discovered a shared background, love of noodles, and a family history of diabetes and high blood…

1/A better way to Zoom in. Have you ever Zoomed into an in-person meeting? It’s awful—you feel distant, and can’t see anyone up close. The Owl Labs Meeting Owl 3 [$1,049; owllabs.com] fixes that, with hybrid tech for a hybrid world. The soda bottle-sized Owl houses a 360-degree camera, a touch screen, eight microphones, and three speakers for clear two-way communication. Once it’s set up in the middle of a conference room table, virtual attendees can see everyone up close, in a Zoom-like box that autofocuses on the speaker. It works with all the big video platforms, like Zoom, Microsoft Teams, Slack, and more. 2/A sly screen time upgrade. Admit it: When you’re stuck on yet another video call that should have been an email, you wish you could slyly…

We are in a moment of great change, and that change has surely come for you. Perhaps you’ve been forced to adapt to the unpredictable. Or you’ve pivoted. Or released a new product or service. I’m going to guess that, in some way, you feel like these changes have been equal parts success and failure—that something is working very well, but you aren’t fully happy or satisfied. Maybe a small well-spring of panic is brewing. Why? I’ll tell you my theory: It’s because you’re 99% there. And that last 1% hurts the most. This is like hiking a mountain with a pebble in your shoe: It doesn’t really matter if your legs are strong enough to conquer the incline, or if your shoes grip the earth tightly enough, because if…

How does an international brand enter the United States? It’s a question that many franchises ask—and for laundry service brand Mr Jeff, which was founded in Spain and has sold more than 2,000 locations globally, its entry into America came via an unlikely source: a humble aspiring franchisee named Sergio Aguirre. Aguirre lives in Miami and spent years working in hotels. He considered opening his own restaurant, but his aspirations changed after visiting Mexico to see friends. That’s where he learned about Mr Jeff. He asked if the company was expanding into the U.S., and at the time, it wasn’t—but a few years later, in 2021, he got the call. “We’re ready if you’re ready,” a brand representative told him. Now Aguirre’s storefront is open, and he’s helping introduce Mr…

Service descriptions come from respective suppliers. 1 BDO USA, LLP Professional services firm serving franchises worldwide 2 Deloitte Audit and assurance, tax, legal, risk and financial advisory, and consulting services 3 PwC Audit, assurance, consulting, and tax services 4 Citrin Cooperman Accounting, tax, and advisory services 5 Reese CPA Audit services for the franchise industry 6 Plante Moran Audit, tax, wealth management, and business consulting services 7 Grant Thornton Professional services firm offering audit, tax, and advisory services 8 Baker Tilly Audit, tax, accounting, and business and transaction advisory services 9 KPMG LLP Professional services firm 10 A&G Full-service accounting 11 EY Advisory, assurance, tax, and transaction services 12 The Franchise CPA Financial statement audits, royalty audits, and part-time CFO services 13 Kezos & Dunlavy Full-service CPA firm specializing in…

Service descriptions come from respective suppliers. 1 iFranchise Group Franchise consulting and development services for emerging and established franchisors 2 SMB Franchise Advisors Franchise consulting services for emerging brands 3 Big Sky Franchise Team Franchise consulting, development, and marketing 4 Franchise FastLane Franchise sales organization 5 Raintree Full-service franchise design, marketing, and sales 6 Global Talent Solutions Franchise executive search, recruiting, and talent acquisition 7 Franchise Creator Franchise consulting, development, sales, and marketing for startup and existing franchisors 8 Pinnacle Franchise Development Franchise development services, including sales, strategy, and consulting 9 Franchise Performance Group Franchise consulting firm specializing in franchise development 10 Angela Coté Inc. Solutions to improve franchise system performance iFranchise Group “When we interviewed different franchise consultants, it quickly became obvious that iFranchise was on a whole different…

Service descriptions come from respective suppliers. Hot Dish Advertising “We have thoroughly enjoyed working with Hot Dish. They quickly sought to understand our business needs, develop creative solutions, and produce attention-getting and motivating creative, all while being a pleasure to work with. We’ve been so happy that we are now working with them on additional projects for our brands.”—MEG BRODECK, vice president of marketing, Authority Brands 1 Hot Dish Advertising Full-service strategic marketing agency specializing in franchising 2 SOCi Centralized digital marketing platform for multilocation brands 3 TopFire Media Full-service digital media national marketing agency specializing in franchise development lead generation and public relations 4 Integrated Digital Strategies Digital marketing company specializing in franchise development and franchisee marketing 5 Consumer Fusion Inc. Reputation management solution specializing in removing fake reviews…

Service descriptions come from respective suppliers. Fishman PR “I have been a client of Fishman PR at three different brands over 15 years. Their entire team is what makes them special. They have so many great people with awesome talents and have always been able to bring the right talent to each engagement.”—KEVIN KING, president, Donatos Pizza 1 Fishman PR PR and content marketing for franchise lead generation and brand awareness 2 Fish Consulting Full-service national communications firm specializing in franchise and multilocation PR and marketing 3 919 Marketing Company Brand strategy, PR, social media, and digital marketing programs for franchise brands 4 Mainland Full-service communications firm specializing in franchise brands 5 All Points Public Relations PR, social media, content marketing, digital and lead generation strategy 6 Franchise Elevator PR…

Anywhere Real Estate (formerly Realogy) has launched an Inclusive Ownership Program designed to attract real estate brokerage owners from underrepresented groups (including women, people of color, and people who identify as LGBTQ+) to affiliate with one of Anywhere’s franchise brands by offering incentives such as a waived initial franchise fee, additional financial incentives, exclusive education and mentorship opportunities, and complimentary membership and conference registration to an industry partner organization of choice. KEY The following symbols indicate that the franchisor and/or a member of its leadership team is a participant in these International Franchise Association (IFA) programs or groups: DiversityFran Black Franchise Leadership Council Franchising Pride Council Women’s Franchise Committee Women’s Franchise Networks ASP-America’s Swimming Pool Company Swimming pool maintenance, repairs, and renovations America’s Swimming Pool Company (ASP) offers $5,000 off…

Our core belief is that if you elevate stories of women and BIPOC individuals, this would attract more of this demographic,” says Ruth Agbaji, CEO and founder of Code Wiz. “We can offer incentives, but in the end, people want to see people like them succeeding.” Agbaji can point first to herself to inspire prospective franchisees. She grew up in Nigeria, taught herself to code, came to the U.S. to get her master’s in computer science, landed a job at Microsoft—and then quit to found her coding school franchise. And her recruitment philosophy seems to be working, as more than 90% of her franchise units are BIPOC-owned, and 70% are women-owned. KEY The following symbols indicate that the franchisor and/or a member of its leadership team is a participant in…

It’s 5 a.m. on December 9, 2020, and Amy Nelson is on Zoom in a green camo hoodie, ready for battle. A week earlier, she’d sent an intriguing email: “Between us,” she wrote, “by February I’ll have a story of pulling off the world’s most amazing pivot…or my company will be at the end of its journey. What a hell of a six months. Dumpster fire is appropriate.” Amy founded The Riveter, which runs coworking spaces for women across the country. At least, that’s what it used to do, before the pandemic emptied offices everywhere. In the yesteryear of girlbosseratti, she was the lawyer-turned-founder—the mom with a warm, Midwestern ferocity—hefting law books and diapers, racing through airports in heels to speak on yet another panel. There, she’d expertly julienne gristly…

Bedel Mbaya speaks six languages: English, Spanish, French, Swahili, Portuguese, and Lingala. But for some reason, he couldn’t seem to communicate with bankers. In early 2021, he was a 27-year-old carpenter with a history of hard work, and he needed $45,000 for a franchise fee with the trash-hauling company Junk Chuckers. He fulfilled all the requirements on paper for a loan, had the support of Junk Chuckers, and was dedicated to becoming an entrepreneur. Yet at least four times, the banks rejected him. They gave no explanation, but he was pretty sure he knew their reasons. “I thought it was my race and age,” says Mbaya, who speaks with a Congolese accent. “I would try to speak slow, but what was going through my head was that they couldn’t understand…

Benetrends Financial “FranNet has worked with Benetrends for over 20 years. This relationship has allowed thousands of clients to achieve their goal of business ownership. The Benetrends team is always prompt, professional, and helpful. We value the relationship and highly recommend Benetrends to other franchisors.”–JANIA BAILEY, CEO, FranNet Service descriptions come from respective suppliers. 1 Benetrends Financial 401(k) rollover funding, SBA loans, and equipment leasing 2 FranFund Funding solutions including 401(k) business financing, SBA loans, unsecured business loans, and equipment leasing 3 Guidant Financial 401(k) business financing, SBA loans, unsecured business loans, business valuations and appraisals, and other business services 4 BoeFly Franchise financing 5 First Financial SBA financing for franchise startups, working capital, construction, and acquisitions; equipment leasing 6 ApplePie Capital Franchise financing 7 Chase for Business Deposit accounts,…

Service descriptions come from respective suppliers. IFA Convention “The IFA Convention is the place to be as a franchisor. The depth of knowledge at this event is vast and the quality of conference material is unmatched. I have made some of the most critical contacts in the franchise industry by attending this conference.”—STEPHEN J. VELICHKO, cofounder and CEO, Always An Angel Homecare 1 IFA Convention Produced by International Franchise Association Annual franchise event with networking, learning, and keynote addresses 2 Multi-Unit Franchising Conference Produced by Franchise Update Media Event for multi-unit franchisees 3 The Franchise Show Produced by National Event Management North American franchise tradeshow circuit in 26 cities 4 Franchise Expos Produced by MFV Expositions Franchise networking and education events for prospective business owners 5 Springboard Event for Emerging…

Service descriptions come from respective suppliers. Toast “Timber Pizza Company switched to Toast in December and since then, the POS [point-of-sale] system has been nothing short of incredible. My customers love their online ordering capabilities, my staff loves the easy-to-use order management capabilities, and my executive team loves their reporting capabilities. I have and will continue to recommend Toast to all interested restaurateurs, and we’ve made it a requirement in our franchise system.”—LUKE WATSON, CEO, Timber Pizza Company 1 Toast Cloud-based restaurant point-of-sale and management system 2 Franchise Payments Network Payment processing for franchise chains 3 Square Payment processing, reporting and analytics, point-of-sale software, and business services 4 Intuit Quickbooks Cloud-based software for accounting, payments, and payroll 5 Fiserv Omnichannel commerce solutions, merchant services, and financial services technology solutions 6…

Service descriptions come from respective suppliers. CBRE “CBRE’s national master brokerage platform helps connect the dots in all 50 states and internationally. They connect us with ‘boots on the ground’ anywhere we bring the brand, so we can tap into all CBRE’s technology and support while having ‘in-market’ brokers that understand the trade areas that we are going into. We don’t have to start over with each assignment, because our master brokers are familiar with the brand and our needs for a location. Partnering with CBRE and leveraging their team and analytics has increased the horsepower of our emerging brand.”—TIFFANY DODSON, chief experience officer, The Salt Suite 1 CBRE Commercial real estate services 2 LocateAI Artificial intelligence and advisory services for retail site selection 3 RESOLUT RE Analytics and brokerage…

Around 90% of Challenge Island’s franchisees are women (along with 100% of their corporate team), and they also have a significant number of Black, Hispanic, and LGBTQ+ franchisees, with teachers receiving 10% off the franchise fee. The new Challenge Island book series, cowritten by CEO and founder Sharon Duke Estroff, features Black and Hispanic children as the main characters, and many of the company’s STEM challenge themes are designed to celebrate diversity, particularly during Black History Month and Hispanic Heritage Month. “Everything we do is about instilling a sense of inclusion, appreciation, empathy, and compassion in children,” says Estroff. “Diversity is so much a part of Challenge Island that we don’t have to make concentrated efforts to achieve it. It is what we are, through and through.” KEY The following…

1/Ask for help (and acknowledge you need it). “Last year, I was really stressed about our performance and felt like I was in it alone. During a meeting, I was very vulnerable and told my team I needed support and solutions from them. I also acknowledged that I had not always been open to receiving that support and external feedback, and I would change my behavior to make others more comfortable taking on more of a leadership role.” —AMIRA RASOOL, founder and CEO, The Folklore Group 2/Speak with purpose, not just emotion. “When we tested our new e-commerce platform, we were hit with a six-hour site outage. The next day, in a team meeting, I said the outage felt like a gut punch. Afterward, our head of HR pulled me…

Like most entrepreneurs, my days were once a scattered mess. Now they’re productive. For example, as I’m writing this, it’s 5 p.m. and I have triumphantly crossed four things off my to-do list, taken two Zoom meetings, and grabbed lunch with a client-turned-acquaintance—not to mention that I woke up when my alarm went off this morning (no snooze) and put on clothes with buttons (miraculous in a post-Covid world!). How did I reach this braglevel state of achievement? Have I inhaled the teachings of Tim Ferriss and created a four-hour workweek? (I wish!) Maybe I meditated so hard that I became laser-focused? (Still working on that.) No, the truth is far more boring: I was able to accomplish so much today because of what I didn’t do. I have yet…

He’s sweating $7.3 billion worth of teeny-tiny details. Alexandr Wang, 25 SCALE AI As a student at the Massachusetts Institute of Technology, Alexandr Wang was the casualty of a wickedness that plagues college campuses the world over: His roommates were stealing his food. Specifically, they were taking his yogurts. “Yogurt is one of the easiest foods to steal, because it’s so perfectly contained,” he says. “It’s the perfect crime.” So Wang put a camera on the inside of his fridge that he hoped would not just record the happenings of the fridge for him to review later, but know—on its own—that a yogurt had gone missing. He soon realized, though, that such a system would need to learn quite a lot to do what, for a human sentry, would be…

Most people think of the franchise industry as having two sides—the franchisors and the franchisees. But there’s actually a third side to this industry, and, like the base of a triangle, it helps to support the other two: It is suppliers. Also known as service providers or vendors, these are third-party companies that provide vital services to franchisors and franchisees, such as accounting, financing, legal services, marketing, real estate assistance, and more. Five years ago, we at Entrepreneur decided it was time to shine a spotlight on this oft-overlooked side of franchising, so we launched our annual top franchise suppliers ranking. This year’s ranking celebrates 134 top service providers across 11 categories—including our newest category, Events. We determine the top suppliers each year by conducting a survey of franchisors, from…

Service descriptions come from respective suppliers. 1 IFPG Membership-based franchise consulting network 2 FranChoice Free consulting service to individuals considering franchise ownership 3 Franchise Brokers Association Franchise broker training and membership organization 4 BAI Business Alliance Inc. Brokerage services for franchise companies and prospective franchise buyers 5 FranServe Consulting service to prospective franchise buyers 6 FranNet Franchise consultants that match clients to business opportunities 7 The Entrepreneur’s Source Alternative career transition coaching 8 FCC, The Franchise Consulting Company Free consulting service to prospective franchise buyers 9 The You Network Franchise consulting and education for senior level executives seeking franchise opportunities IFPG “IFPG has quickly become our top-performing resource for prospective franchise partners. The team at IFPG is not only the most responsive in the business, but they are also quick…

Service descriptions come from respective suppliers. Spadea Lignana Franchise Attorneys “I have had the pleasure of working with Spadea Lignana for the past ten years. Not only do they have an unmatched knowledge of franchising, but their wisdom and advice are what I value most. The legal side of franchising is the most intimidating and complicated part of the business, and it’s a win-win to have a dedicated team that handles it all seamlessly—and to become friends along the way.”—MICHAEL MOORHOUSE, president, Mosquito Shield 1 Spadea Lignana Franchise Attorneys Full-service franchise law firm 2 FisherZucker LLC Full-service law firm focusing on franchising and licensing matters 3 Internicola Law Firm Legal services for emerging franchise brands 4 Lathrop GPM Full-service law firm with franchise and distribution practice team 5 DLA Piper…

Service descriptions come from respective suppliers. HubSpot “We’ve used HubSpot for many years and are impressed with its evolution. As our ‘system of truth,’ it provides a centralized overview into all sales and marketing activities across our organization. It’s also highly customizable and intuitive, and the customer service is exceptional.”—LYNN STEWART, vice president of growth, Supporting Strategies 1 HubSpot CRM, marketing, sales, and customer service platform 2 serviceminder.io Platform for managing and operating home services brands 3 FranchiseSoft Saas-based franchise management software 4 ClientTether Lead response, sales, online review, client engagement automation, and CRM platform 5 FranConnect Franchise management software 6 Zoho Cloud software suite and Saas applications for business 7 AXIS lntegrated CRM and marketing automationfor franchise development 8 Salesforce CRM, cloud computing, sales, service, marketing, commerce, and analytics…

Franchising is becoming more diverse. U.S. census data shows that franchise ownership rates between 2007 and 2012 increased by 50% for both women and historically underrepresented groups—and while more recent census data isn’t available yet, there’s reason to believe that growth has only increased. That’s because, in the years since that study, many franchise brands have ramped up efforts to champion the values of diversity, equity, and inclusion (DEI). So who’s having the greatest impact? We decided to look into that—and, on the following pages, to honor some of the brands that we think are doing it best. The franchises on this list were chosen editorially and listed alphabetically; there is no way to quantifiably rank them the way we do for, say, our Franchise 500 list. We based our…

For almost 20 years, Choice Hotels’ emerging markets program has awarded and financially supported more than 300 franchise agreements with underrepresented minority and veteran entrepreneurs. In recent years, the company has expanded its emerging markets team and ramped up its efforts to increase diversity in the hotel industry. In 2020, it formed the Choice Hotel Owners African American Alliance (CHOAAA), offering franchisees a forum to engage with company leadership. This year, it launched the HERtels by Choice program to provide dedicated training, education, mentorship, and financial assistance to women entrepreneurs, who currently only make up about 10% of those involved in hotel investment and development. Let Mommy Sleep In-home newborn and postpartum care All of Let Mommy Sleep’s current franchisees are women, and a third are BIPOC. The brand is…

Denny’s is one of the first franchises to join the Multicultural Foodservice & Hospitality Alliance’s Pathways to Black Franchise Ownership program, which aims to create 100 new Black-owned franchises by the end of 2023. But that’s just the latest step in the company’s decades-long journey to becoming a leader in DEI. After facing discrimination lawsuits in the '90s, Denny’s worked with civil rights leaders, including Coretta Scott King, to reform its corporate culture and practices. Today, 58% of Denny’s restaurants are minority-owned and 75% of employees are minorities, while 56% of its board members are minorities and 44% are women. The company also launched a Multicultural Recruitment Tour last year, and through its Supplier Diversity Program, it has invested more than $2 billion with diverse and disadvantaged businesses. KEY The…