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How Canada's Serruya Family Made Some $300 Million Off A Bunch Of Faded Food-Service Brands
Jun 19, 2016, 07:15pm
How Canada's Serruya Family Made Some $300 Million Off A Bunch Of Faded Food-Service Brands

Amy Feldman
Forbes Staff
ice_cream  private_equity  Toronto  franchising  cold_storage  brands  foodservice  Serruya 
october 2018 by jerryking
Inside the brutal transformation of Tim Hortons - The Globe and Mail

Since taking over the iconic chain in 2014, its new Brazilian owner, 3G Capital, has purged head office, slashed costs and squeezed suppliers. Shareholders are happy, but is 3G tearing the heart out of Timmy’s?.....3G is regarded as ultra-disciplined owners who are sticking to the same playbook they have followed at companies including Burger King, Anheuser-Busch, Kraft Foods and Heinz: massive layoffs, replacing legacy managers with hungry youngsters and, above all, a fanatical devotion to financial benchmarks and cost-cutting. (It remains to be seen whether this will also be the approach for RBI’s latest acquisition, Popeyes Louisiana Kitchen.)....Will 3G's analytics-driven overhaul of Tim Hortons—using the same template the private equity firm’s founders have deployed at railroads, brewers and food makers—succeed in the long run, or is it in danger of cutting the heart out of a Canadian icon? ......Suppliers are also feeling the squeeze. From the get-go, RBI made it clear it would be reviewing vendor relationships. And the company pushed for better terms, including extensions on bill payments to as much as 120 days from 30 days or less. Maple Leaf Foods, a major partner that supplied meat to Tim Hortons, declined to accept the new terms, and walked away....
Former employees also say RBI has cut back on product research and development spending at Tim Hortons, offloading some of that work to suppliers. That’s not uncommon in the fast-food world, but it can be risky. “Suppliers can do a great job with innovating and R&D, but you’re limited to what the supplier is trying to develop,” ......3G has never encountered a brand quite like Tim Hortons. It isn’t just another coffee company. It is a Canadian destination, an integral part of many Canadians’ day and a brand that defines us, to some degree, around the world.......“The risk, in looking at Tim Hortons through the lens of efficiency alone, is to miss the greatest value of the asset, and that is the Tim’s brand and its deep connection to the fabric of the country,” says Joe Jackman, founder of strategic retail consultant Jackman Reinvents, whose clients have included Old Navy, Hertz, Rexall and FreshCo. “You can’t cost-cut your way to retail nirvana.”
3G_Capital  Tim_Hortons  Marina_Strauss  cost-cutting  head_offices  iconic  brands  organizational_culture  private_equity  layoffs  data_driven  franchising  transformational  fast-food  supply_chains  R&D  Canadiana  goodwill  JWT  community_support  downsizing  efficiencies  coffee  staying_hungry  cultural_touchpoints  restructurings  supply_chain_squeeze  RBI  playbooks 
february 2017 by jerryking
Why McDonald’s All-Day Breakfast Was Years in the Making - Eater
by Tove Danovich Sep 25, 2015,

Most customers pay little attention to how the McGriddle is made, so to speak, but setting up a program like the all-day breakfast takes more than just marketing. In addition to years of talking about putting this plan into action, stores across the country spent months testing all-day breakfast and straightening out any flaws. Even once a plan was implemented, it was up to more than 3,000 owner-operators spread throughout the nation to upgrade and reorganize their kitchens for the menu change.
all-day  breakfasts  McDonald's  fast-food  QSR  operations  franchising 
january 2017 by jerryking
Diners show appetite for sustainability
June 20, 2013 | WSJ Supplement - Focus on Franchising | Julie Bennett
sustainability  greenhouses  green_roofs  fast-food  franchising  Boston 
november 2013 by jerryking
Canada’s first family of freeze buys Cold Stone
Aug. 20 2013| The Globe and Mail | GRANT ROBERTSON.

The Serruyas, who also own the Swensen’s premium ice cream brand, are betting the ice cream market can survive the competition. They aim to push further into niche products for Cold Stone, building on licensing agreements forged in recent years, including coffee creamers sold in U.S. supermarkets and flavours licensed to Jelly Belly candies. Cold Stone Creamery operates in more than 1,500 outlets around the world, including locations in China, Indonesia, Turkey and Brazil.
ice_cream  private_equity  Toronto  franchising  cold_storage  Serruya 
september 2013 by jerryking
Nurse Next Door puts new spin on getting old
Jul. 12 2012 | The Globe and Mail | by Susan Krashinsky.

The boomer generation represents a game change for the home care industry: They are emerging from a labour market where tech skills are essential. That means clients are about to get a lot more vocal, and they will make themselves heard - not just if the care is subpar, but also if they feel bored or underserved. Nurse Next Door's marketing campaign relies heavily on social media and word of mouth. In order to compete, home care nurses will have to nurture a social-media presence, and go above and beyond to become part of a service industry, not just a care industry.

"Our clients will be using Twitter," DeHart says. "We'd better be really good at what we do."
aging  baby_boomers  home_based  caregiving  population_trends  franchising  underserved 
april 2013 by jerryking
Steve Hudson: The comeback kid returns to his roots
Oct. 26 2012 | The Globe and Mail | BOYD ERMAN
In 2007 and 2008, the financial crisis hit. All around the globe, banks were pulling back on lending. Not only that, they were putting leasing assets up for sale. A manager with experience in leasing, with relationships at banks and insurers, could buy up leasing companies and fill the gap in the market. Mr. Hudson stepped back from Herbal Magic to start Element.
serial_entrepreneur  Toronto  Boyd_Erman  franchising  equipment  leasing  Steve_Hudson 
february 2013 by jerryking
Chain co-founder journeys from flophouse to coffee house
October 16, 1998 | Globe & Mail | by Margot Gibb-Clark.

Frank O'Dea, co-founder of the coffee house chain Second Cup Ltd.
coffee  inspiration  bouncing_back  fast-food  restaurants  franchising  entrepreneur  alcoholism 
december 2012 by jerryking
Investors Make Changes at Burger King Ahead of Listing -
April 4, 2012 | WSJ | By PAUL ZIOBRO.
Quick Changes at Burger King
Investors Who Reshaped Restaurant Chain's Menu, Management, Now Plan to List Shares on Market
hedge_funds  Burger_King  William_Ackman  investors  franchising 
april 2012 by jerryking
Bankrupt Restaurants Are Still Holding On -
Published: December 27, 2011

Consumers, who have generally cut back on the number of meals out since the recession began, are benefiting from the proliferation of zombies. Healthy and failing restaurants alike have been forced to discount relentlessly to lure diners. But for the restaurants, particularly small independent operators, the competition from the undead is a nightmare that just won’t end.

The hard times for restaurants began in 2008, as the recession and staggering unemployment forced Americans to cut back on dining out. During the 12-month period ending in August, the average American ate or got takeout at restaurants 195 times, down from 208 times in 2008, according to Harry Balzer, the chief food industry analyst for the NPD Group.
restaurants  bankruptcies  franchising  under-performing  oversupply  hard_times 
december 2011 by jerryking
The Handyman Fix - April 1, 2006
March 20, 2006 |FORTUNE Small Business | By Ian Mount

A report from the Joint Center for Housing Studies at Harvard found that of the 580,000 self-employed contractors and tradespeople in the U.S., about two-thirds make less than $25,000.
Freshbooks  skilled_trades  franchising 
december 2011 by jerryking
Smaller U.S. franchisers are looking overseas for growth -
NOVEMBER 14, 2011 | WSJ | By ANGUS LOTEN. Smaller Franchisers Expand Their Horizons
A Smashburger in Kuwait? Here's why it makes sense.
franchising  globalization  fast-food  small_business 
november 2011 by jerryking
For Ex-Nurses, Real Money's in Takeout -
By Louise Kramer
Published: April 4, 2004

Restaurants are notoriously challenging to run. An owner must juggle customer service, logistics, management, accounting and other tasks. In franchising, entrepreneurs buy into existing concepts and follow strict guidelines for operation in exchange for a fee and royalty payments on sales.
immigrants  franchising  Second_Acts  fast-food  New_York_City  owners  restaurants  Brooklyn  nursing  Caribbean 
november 2011 by jerryking
Big Chains Try Food Trucks -
OCTOBER 28, 2010 | WSJ | By SARAH E. NEEDLEMAN Restaurant Franchises Try Truckin' as a Way to Grow.
food_trucks  restaurants  franchising  Sarah_E._Needleman 
april 2011 by jerryking
Six essential issues for any franchise deal
The Globe and Mail. Toronto, Ont.: Oct 23, 1995. pg. C.12
franchising  rules_of_the_game  ProQuest  small_business 
february 2011 by jerryking
Big Chains Try Food Trucks -
OCTOBER 28, 2010 | Wall Street Journal | By SARAH E. NEEDLEMAN
food_trucks  Sarah_E._Needleman  fast-food  Twitter  Facebook  franchising 
october 2010 by jerryking
Why KFC Franchisees Are Squawking
August 12, 2010 | BusinessWeek | By Burt Helm. They feel
Yum! Brands is foolishly downplaying the chain's Southern fried image.
Possible lead for Pat?
franchising  disputes  City_Voice  Pat_Condon  fast-food 
august 2010 by jerryking
Local Online Advertising: A Primer
Nov 2007 | Franchising World. Vol. 39, Iss. 11; pg. 77, 3 pgs
| by Jeffrey Kolton. ..."Research conducted by Yahoo and comScore,
identified a new class of consumers known as "ROBO" for research
online-buy offline customers. "..."A separate comScore study found that
82 % of local searchers follow up offline via an in-store visit, phone
call, or purchase, emphasizing the importance for marketers to integrate
their on & offline information. 61 % then made purchases. Clearly,
search marketing drives local business....It's easier to talk than type,
and free directory assistance services such as Jingle network's 1-800
FREE 411; Microsoft's 1-800 555 TELL; Google's 1-800 GOOG 411 and
AT&T's 1-800 Yellow Pages are the fastest-growing voice channels
connecting local buyers and sellers...A marketing plan that fails to
address the blended search, video and voice environment is like playing
18 holes of golf with a single club. It's possible to finish, but it
won't be pretty.
ProQuest  local_advertising  City_Voice  small_business  franchising  Yellow_Pages  consumer_research  primers  in-store 
july 2010 by jerryking
Financing Programs Aim to Help Franchisees -
APRIL 29, 2010 | Wall Street Journal | by EMILY MALTBY. With
Bank Loans Scarce, Companies Create Lending Arms to Assist Business
Owners—but Terms Are Sometimes Strict
franchising  finance  funding  small_business  entrepreneur 
may 2010 by jerryking
Minority dealers land more luxury franchises
Minority dealers land more luxury franchises
Arlena Sawyers. Automotive News. Detroit: May 29, 2000. Vol. 74, Iss. 5876; pg. 8, 1 pgs
ProQuest  automotive_industry  franchising  luxury  African-Americans  dealerships 
february 2010 by jerryking
Chain Reactions -
OCTOBER 25, 2004 | Wall Street Journal | by KRIS MAHER.
growth  franchising  food  restaurants  fast-casual  fast-food 
february 2010 by jerryking
Why Running a Franchise Is Easier Than Ever -
JUNE 25, 2007 | Wall Street Journal | by GWENDOLYN BOUNDS and RAYMUND FLANDEZ
franchising  dual_careers  Gwendolyn_Bounds  Raymund_Flandez 
june 2009 by jerryking
Why Franchisees Fail -
APRIL 30, 2007 | Wall Street Journal | by RICHARD GIBSON
franchising  failure  small_business 
june 2009 by jerryking
Small Business: The Journal Report Online
November 13, 2006 | Wall Street Journal | Assorted authors. (1)
Recommended reading on franchising; (2) Protecting Your Company's'
Reputation; (3) Getting the Most from Online Directories.
franchising  reputation  directories  Sarah_E._Needleman  small_business  filetype:pdf  media:document 
june 2009 by jerryking
New Franchise Idea: Fewer Rules, More Difference -
SEPTEMBER 18, 2007 | Wall Street Journal | by RAYMUND FLANDEZ.
Typically franchises are sticklers for the cookie-cutter approach with
rules and processes are set down for operators buying into a uniform
system. But a crop of franchisers are taking a very different approach,
giving their franchisees some freedom to run their own operations, much
like an independent small business -- from personalizing store names and
menus to fiddling with prices.
franchising  Raymund_Flandez  flexibility  pricing 
may 2009 by jerryking Over 50 and ditching the corporate world for franchising
May 8, 2009 | The Globe & Mail | TENILLE BONOGUORE. The
average franchise last year cost about $140,000, including working
capital, said FranNet of Southern Ontario president Gary Prenevost. This
year, it's under $100,000, and people are exposing less of their net
worth to the risk. "Last year, people were prepared to expose ... 25 to
40 per cent of their net worth," Mr. Prenevost said. "Twenty to 25 per
cent of net worth is really the comfort zone now."
baby_boomers  franchising  CARP  retirement  Second_Acts  seniorpreneurs 
may 2009 by jerryking
Independent Street : Finding Help for Choosing a Franchise
June 12, 2008, 4:13 pm WSJ blog post posted by Kelly Spors on the topic of franchises
running_a_business  small_business  franchising  Kelly_K._Spors  start_ups 
february 2009 by jerryking
Taking Care of Business -
March 17, 2008 WSJ article by Simona Covel on the opportunities
opening up within in-home health care and their appeal to franchising.
franchising  healthcare  home_based  in-home  Simona_Covel 
february 2009 by jerryking
How to Finance a Franchise -
March 17, 2008 WSJ article by Richard Gibson on ways prospective business operators can use to fund launching a franchise.
franchising  small_business  funding 
february 2009 by jerryking

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