Franchise Business Opportunities

Bernama:

Rasamas franchisee, KFC Holdings (Malaysia) Bhd (KFCH), will open five new restaurants this year, managing director, Jamaluddin Md Ali said.

The chicken speciality restaurants will cost of RM3 million. KFC has at present 43 Rasamas restaurants, including three in Brunei.

Each outlet will cost KFCH approximately RM600,000.

Jamaluddin also did not rule out the possibility of more than five new restaurant openings.

“We have seen an increasing demand for Rasamas restaurants. Therefore, our initial target of five, may vary according to demand.

“Last year, we opened eight new outlets.The fewer openings this year is due to our 2010 roadmap, which is to build the Rasamas brand reputation locally,” he said after the official launch of the Rasamas new “Hainan Chicken”, a promotional meal, dedicated to the upcoming Chinese New Year.

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Mondaq.com:

Previously, entities that provided a “BAS service” – such as preparation or lodgement of a BAS on behalf of a taxpayer or giving advice about a “BAS provision” – were not required to be registered. However, entities that provide a “BAS service” for a fee or reward will be required to be registered from 1 March 2010. A “BAS service” is defined broadly to mean a tax agent service that:

* relates to ascertaining or advising an entity’s liabilities, obligations or entitlements under a BAS provision, or
* representing an entity in their dealings with the Commissioner of Taxation relating to a BAS provision

in circumstances where the entity can reasonably be expected to rely on the service to satisfy its liabilities or claim an entitlement under a BAS provision.

A “BAS provision” covers matters such as the collection and recovery of tax under FBT law, GST law, wine tax law, luxury car tax or fuel tax law and the PAYG withholding and instalment provisions.

The existing requirement for entities providing “tax agent services” for a fee or reward to be registered will be retained under the new regime. Tax agent services is likewise defined broadly to cover any service that relates to ascertaining or advising an entity as to its liabilities, obligations or entitlements under a taxation law in circumstances where it can reasonably be expected that the entity will rely on the service to satisfy its liabilities or claim an entitlement under a taxation law. Read full article.

Michigan Business Review:

Franchisees of a Michigan-based cellular phone store allege that deceptive business practices have cost them thousands of dollars.

WDIV and Crain’s Detroit Business report that the owner of Wireless Toyz, based in Farmington Hills, is being sued for fraud. Hearings began Friday in Oakland County Circuit Court

Joe Barbat is accused of violating Michigan franchise laws and falsifying information about profitability to franchisees. One franchisee, Raad Kello of Chicago, is said to be seeking millions of dollars.

news.caterer.com:

An Italian restaurant has announced plans to open five new outlets in 2010, which could create restaurant jobs throughout the UK.

Carluccio’s announced an eight per cent year-on-year increase in sales for the quarter ending on January 24th 2010. These results were achieved without significant discounting.

This means that it is on course to honour its plans to open a minimum of five new restaurants this year.

The company’s first restaurant to open in the financial year, in Exeter, has reported successful trading and two new stores in Wimbledon and Cardiff will open in February and March respectively.

This will bring the number of Carluccio’s restaurants in the UK to 45.

Livemint:

Apparel house Raymond on Monday said it is aiming to increase revenue from retail business by up to 40% in two years from the current Rs1,000 crore, for which it will add more stores in smaller towns.
“We are looking at 30-40% jump in revenue from retail business in the next two years from the current turnover of about Rs1,000 crore,” Raymond president (retail and business development) Rakesh Pandey told reporters on the sidelines of an AIMA event.

In the third quarter ended 31 December, Raymond reported a total income of Rs375.9 crore and for the nine-month period it stood at Rs1,017.95 crore.

Under its retail vertical, Raymond has the Raymond Shop (premium retail store offering complete wardrobe solutions for men), Brand Shop (exclusive stores for stand-alone brands of the firm) and Be:Home(a specialty multi-brand home retail chain for soft home furnishings and accessories).

To achieve its target, the company is stepping up retail expansion, specially into smaller towns and plans to add 300 stores in the next two years.

Mat-Su Valley Frontiersman:

With secret sauce and all, an old Anchorage favorite is storming the Wasilla chicken wing market.

A week ago, Wings ‘n Things opened the doors to its newest location on the corner of Boundary Street and the Parks Highway. As the name implies, they are serving up chicken wings ranging from mild to “nuke” and 19 different sandwiches including the 12-inch philly cheese steak loaded with half a pound of beef.

But those in the know, know these aren’t just any wings.

“It’s just the sauce,” owner Tracy Olsen said. “They aren’t coming for the chicken. It’s just the sauce.”

This sauce created an almost religious fan base when the original Wings ‘n Things location opened in downtown Anchorage in 1983. Co-owner Joe Connelly knew he struck an addictive nerve with his recipe, and as such, he never divulged the ingredients even to his most trusted staff.

Then, in 2008, Connelly abruptly shut his doors without explanation. Dedicated wing nuts were crushed. More.

SmartCompany.com.au:

I was in the Telstra shop getting a new mobile the other day and the sales assistant upon finding out that I was a solicitor and did international trade work took the opportunity to pick my brain.

His friend intended to export nickel to China and he asked me one of the most frequently asked questions from exporters hoping to conquer China – is a contract with the Chinese worth the paper it is written on?

My answer was the same as always – yes it is, but you need to be aware that the Chinese value relationships more than they value legal documentation. It is no good getting your solicitor to draw up an export agreement and simply emailing that to your Chinese distributor and expecting them to agree and sign it in a week!

To do business well in China you need to embrace the concept of guanxi – the art of building a business relationship. You need to have known your distributor for awhile and have nurtured your relationship. Dinners, gifts, multiple visits to China are all encouraged.

Cookeville Herald Citizen:

There’s a new chicken restaurant coming to town. Bojangles‘, known for its famous chicken and biscuits, has announced plans to open between two and three restaurant locations throughout the Cookeville-Putnam County area that will invest initially upwards of $6 million into the local economy, creating more than 180 new jobs.

“Our target date date is as soon as possible, but what’s going on now is our growth in Tennessee is fueled through franchising,” Eric Newman, executive vice president of Bojangles’ said. “We have activity growing in Nashville and a significant presence in east Tennessee, so Cookeville is right in the path of progress for us and our concept does nicely in towns about Cookeville’s size.” A franchisee has not been named, but Newman mentioned that they have several people that are interested.

Since no franchisee has been named yet, locations and a time frame of opening the restaurants are not available yet. “In a new market, we identify a franchisee, agree on an overall development plan and then identify particular real estate locations,” Newman said. “We work hand-in-hand with the franchisee (in) consulting, mapping the area and providing broker assistance and then (go through many other steps) before a final approval.

PR-USA.net:

Coverall Health-Based Cleaning System(SM), a leading franchisor of commercial cleaning businesses, today announced that it will sponsor the Closing Gala at the 2010 International Franchise Association (IFA) Annual Convention, a premier industry event and one of the largest gatherings of franchise business professionals.

In addition to the sponsorship, Coverall will exhibit at Booth #430 at the convention, which will take place February 5-8 at the San Antonio Convention Center & Marriott RiverCenter Hotel in San Antonio, TX.

Sponsored by Coverall, the 2010 IFA Convention’s Closing Gala will feature gourmet food stations and the Franchise All-Star Band. A final chance to visit with friends and colleagues and do some networking, the gala is a fun-filled evening that begins February 8 at 7:30 PM.

This year marks the 50th Anniversary of the International Franchise Association’s inception – as well as 50 years of successful educational and networking-focused conventions. The 2010 convention will provide programming on business issues impacting franchises across the country, as well as plenty of opportunities for franchising professionals to network and speak with other professionals.

The Tennessean:

Want to open your own fast-food restaurant as a franchisee? Be prepared; it may be tough to get a loan even as the idea of acting as one’s own boss gains favor among the working class as layoffs and an uncertain job market linger.

“People lose their jobs and then have a sour taste in their mouth about working for someone else,” said Corey Bowman, vice president of franchise development for Pita Pit USA, a fast-food company with one restaurant in downtown Nashville but many others around the country.

“The concept for franchising has been very appealing because it’s an opportunity for them to become their own boss and control their own destiny,” Bowman said.

The catch is that it may be difficult to secure capital to start a business, and it may be doubly hard for novice owners to build up a strong clientele in such challenging times for consumer sales, analysts said. Continue reading this post.