How To Buy A Franchise Show | Dr. John Hayes provides insight on how to buy and operate a franchise
About This Show
Internationally recognized speaker, small business coach and Amazon best-selling franchise author Dr. John P. Hayes offers an honest and time-tested approach to researching, evaluating and purchasing a franchise business.
Most Recent Episode
Shoney’s: Name’s the same, but that’s about it
3 days ago
And the strawberry pie is still on the menu. That hasn’t changed. But “this isn’t your grandma’s Shoney’s,” jokes Terri Harof, Director of Development for Shoney’s, now in its 70th year. The entire look of the restaurant has changed: they added a patio for outdoor eating, contemporized the décor and added a full bar. Years ago, 90 percent of customers chose Shoney’s buffet; now, Harof estimates it’s about a 50/50 split with customers ordering entrees from the menu. Shoney’s is nostalgic for many Americans and the company’s emphasis for franchise operations is on maintaining that feeling and continuing to create lasting memories. Free-standing full-service restaurants aren’t inexpensive to build. Occasionally, existing restaurants can be transferred, but buying a Shoney’s is always going to require a significant amount of capital. However, financing can be arranged and Harof has preferred vendors that are very enthusiastic about opening more Shoney’s locations. The company has an Item 19, has undergone an extreme makeover and is planning on selling 15 new franchises in 2017!