What is the franchise company?
A franchise is a business whereby the owner licenses its operations—along with its products, branding, and knowledge—in exchange for a franchise fee. The franchisor is the business that grants licenses to franchisees.
Where is the Franchise Group based?
Founded in 1988 and headquartered in Livonia, Michigan, PSP is the leading franchisor and operator of pet-specialty stores that provide a customer-centric shopping experience in smaller stores with a neighborhood feel.
Who does the Franchise Group own?
It owns brands in various retail industries including American Freight, Buddy's Home Furnishings, The Vitamin Shoppe, Pet Supplies Plus, Sylvan Learning and Badcock Home Furniture. Franchise Group, Inc.
Who is the father of franchise?
What Did Benjamin Franklin Do? To understand how Benjamin Franklin not only became the father of electricity but also the father of franchise, it's important to note that he was a businessman – and a successful one at that.
Who is buying Kohls?
Franchise GroupFranchise Group, which owns brands such as American Freight and The Vitamin Shoppe, made an $8 billion bid to acquire the retailer in June.
Is Kohl's being bought out?
Kohl's is no longer in talks to sell the company.
Do franchise owners get paid?
How do franchise owners get paid? Franchise owners can pay themselves a salary or depending on their business entity, they may be able to take a draw from their accumulated equity.
Who controls the franchise?
The franchisorThe franchisor owns the trademark and business model. Upon paying the upfront fee and continuing royalties, the franchisor grants the franchisee the rights to use the trademark and business model.
Do franchise owners do anything?
While every franchisor assumes different responsibilities, they generally provide the following: Build and Maintain Brand Reputation: All franchises share one common goal: build and maintain an established, profitable brand. That's what franchise owners are buying, afterall—rights into a well-reputed company.
Who was the first franchise?
In the United States, many histories about modern franchising have often cited Albert Singer and the Singer Sewing Machine Company as being the first commercial franchisor, dating franchising to 1851.
Who is the youngest franchise owner?
Ashley LamotheAshley Lamothe started working at Chick-Fil-A when she was 15 years old to earn money for her first car purchase. Little did she know that she would become the youngest franchise owner in the history of Chick-Fil-A at the age of 26.
How did franchise started?
Most business historians date the beginning of franchising as a concept to the Middle Ages, when feudal lords initiated the practice of selling to others the rights to collect taxes and operate markets on their behalf.
Where did the franchise concept first start?
The first examples of franchising as a way of doing business are found in mid-nineteenth century Germany, where brewers set up contracts with tavern owners to sell their beer exclusively in the taverns. In the United States, the earliest example of the use of franchising was not found in breweries and taverns.
Who started the franchise concept?
But slightly before that, Albert Singer, who had had difficulty marketing sewing machines, found success in franchising as a way to sell his machines in the 1860s. He is credited as having been the first to develop a franchise contract. But even further back, we have a familiar name: Benjamin Franklin.
Who controls the franchise?
The franchisorThe franchisor owns the trademark and business model. Upon paying the upfront fee and continuing royalties, the franchisor grants the franchisee the rights to use the trademark and business model.
How many franchise locations are there currently?
There are more than 750,000 franchise establishments in the US alone. 7.49 million US employees work in franchise businesses. The economic output of the US franchise industry is valued at $670 billion. 10.5% of all businesses in the US are franchises.
What is franchise group?
Franchise Group, Inc, is an American holding company that owns retail companies and companies that specialize in the preparation of tax returns. It is the third largest tax preparation franchise in the United States. The company began in Canada in 1997 when John Hewitt, co-founder of Jackson Hewitt, acquired a Canadian tax franchisor, U&R Tax Depot.
Who owns Vitamin Shoppe?
The Vitamin Shoppe – offers nutritional supplements in every 785 stores across the U.S., as well as online. Acquired by Franchise Group in December 2019 after Irving Place Capital sold the remaining shares of the company and its division, Super Supplements to Franchise Group in the same year.
What is American Freight?
American Freight – a chain of discount furniture and home furnishing stores that was acquired in February 2020. Buddy's Newco LLC ( doing business as Buddy's Home Furnishings) – offers home furniture including sofas, chairs, dining tables, as well as electronics, and appliances.
Is Liberty Tax Service a franchise?
Entrepreneur magazine has ranked Liberty Tax Service on its "Franchise 500" list of best franchise opportunities since 1998. Liberty Tax Service is the only tax franchise on the Forbes magazine's "Top 20 Franchises for the Buck." (2012)
Who owns Buddy's Newco?
On July 10, 2019, Liberty Tax completed the acquisition of Buddy’s Newco, LLC, the parent company of Buddy's Home Furnishings, a chain of 293 company-owned and franchisee rent-to-own stores with locations in the United States and Guam, 90% of which are operated by franchisees.
Is American Freight a Jordan company?
In December 2019, the company announced the pending acquisition of American Freight, a discount furniture and home furnishing retail chain, from an affiliate of the Jordan Company for approximately $450 million in cash. The acquisition was completed in February 2020 after company received a $675 million loan to finance this acquisition and to restructure the debt incurred upon the previous acquisitions of Buddy’s Home Furnishings and Sears Outlet. It was also announced that the company plans to merge Sears Outlet into America Freight with the store rebranding completed by April 2020.
Is Sears Outlet a franchise?
Sears Outlet Stores – outlet version of Sears department stores located in various retail locations across the U.S., as well as online. Sold to Franchise Group in October 2019 while Transform Holdco completed the acquisition of the remainder of Sears Hometown at the end of the same business day. In April 2020, Sears Oulet was merged into American Freight and the stores were rebranded American Freight.
About us
The Franchise Group (TFG) is an award-winning full service agency based in Massachusetts. TFG combines creative and data services to provide the full range of offerings across digital, video, design, virtual event and event production, media strategy, marketing planning and demand generation.
Updates
"The Nathan and Polly Johnson House is the only remaining building in which Frederick Douglas lived during his six years in New Bedford. The Nathan and Polly Johnson House has been recognized as a National Historic Landmark and is a site on the New Bedford Whaling National Historical Park’s Underground Railroad Tour.
Company Bio
The iFranchise Group is the world's premier franchise consulting firm. We provide substantial depth in all of the key areas of franchising, including franchise strategy development, quality control, documentation and training, franchise marketing assistance, and franchise implementation services.
Franchise FastLane
Disclaimer: This company profile, and any rankings or statements within, are not an endorsement or recommendation of this or any other company. Statements made in this profile were provided by the company itself, and are not vetted or endorsed by Entrepreneur Media Inc.
What brands does Dessange own?
Other brands owned by Dessange include Coiff’idis and Phytodess.
Where is FirstService located?
FirstService Brands is part of FirstService Corporation, which is based in Toronto.
When did Meineke and Maaco start?
Auto franchisor Driven Brands started with the founding of Meineke and Maaco, by different people, in 1972.
Who owns CKE Restaurants?
Owned by private equity firm Roark Capital Group, CKE Restaurants was founded in 1966 with the opening of Carl’s Jr.
Is franchising owned by a parent company?
It’s not uncommon for different businesses to be owned by a parent company. However, in franchising there has been a tidal wave of mergers and acquisitions in the past few years. With all of the shuffling, it can be hard to remember which franchises are owned by which parent company, as well as which franchises are technically sibling companies.
Is Focus Brands a part of Roark Capital?
FOCUS Brands is also an affiliate of Roark Capital Group.
Is ServiceMaster a franchise?
ServiceMaster was originally founded as a moth-proofing company. The company also operates Terminix, but that brand isn’t currently franchising.
