|
|
| Information |
|
|
Oil Change Guys History; Part III
Studying the history of franchise companies is interesting is watching all the ways they grew and all the partnerships, vendors and mergers along the way. It is a myriad of deals and team building, which makes it all possible. Continuing Part III of the saga: Mr. Winslow offered to buy an Oil Change Company out of Tampa Florida, a franchise system, with only three franchisees, one of which was in a market we also serviced with our Car Wash Guys Franchise in Jacksonville, FL. The Jacksonville franchisee of the Mister Mobile On-site Oil Change Company was not doing so hot and we knew we could fix that, since we had tons of contacts there and were already kicking the crap out of our competition FleetWash in Gainesville, Tallahassee and Jacksonville. We figured we could buy the company, hire back the founder in Tampa for training and fix the customer base issue in Jacksonville. Unfortunately the founder of that company Mister Mobile On-site Oil Company, Dave Hendelson, did not want to work anymore and wanted to retire and coming to terms on the price of the franchise system was another issue. Meanwhile we learned that the Owner of the Tampa Franchise On-Site Oil Change was a former franchisee who never paid royalties and the former Franchisor who went out of business was suing him for stealing the proprietary rights of the system. So defending that lawsuit would have to be figured into the price as well as taking over many leased vehicles which were financed by sleazy leasing companies and had left the owner upside down in payment to value ratios. A prefect scenario ruined by litigation and bad fiscal policy. Mr. Winslow was getting a little upset at this point as many of the current franchisees of Car Wash Guys, www.carwashguys.com were asking to add on these services. Lance was determined not to give up knowing the market potential and also studying the needs of future Hydrogen Cell and Electric Hybrid Cars, which would be needing other services such as special filters, capacitors and carbon tipped injector nozzles, which are wearable parts too. Knowing this Lance contacted Oil Butler for a possible acquisition only to find out that they knew what their company was worth and would only be interested in the case of a large sum proposal. They were right not to want to sell as they were doing quite well in that market indeed. In fact as he learned more, Mr. Winslow became more excited at the potential and lack of organized competition. Many of the original Oil Butler Franchisees had gone out of business. Which was typical of low cost franchises were the buyers did not take the businesses as seriously due to the small investment. Such issues were prevalent during the high-flying 90's with other companies such as Decorating Den. But Oil Butler had an extremely good program. Oil Butler had a good deal for a franchisee who wanted to save a little money and get into their own business, with dedication it works. Oil Butler is such a low cost franchise it is a very low risk opportunity for many people and we actually recommend it for those who cannot afford our franchise. Lance then contacted Location Lube who offered to customize their units to Oil Change Guys Corporate Yellow and put on our insignia. Also with this deal they would guarantee financing and training all for about 30% mark-up. However Mr. Winslow was concerned because Location Lube had their own brand and any innovations such as patented oil additives, customization or marketing techniques would be given to all the Location Lube "Biz Op" customers and thus fall into competitors hands. Lance was also worried that the Location Lube website had earnings claims on it that could not be substantiated and therefore for a franchise company it might be considered a violation of FTC laws, and by that time Mr. Winslow had, had just about enough BS from that agency. Location Lube did not have to follow franchise law as they were a Business Opportunity and under a different set of laws entirely. Still looking for the perfect partner and determined to either find them or build his own franchise system to co-brand with Mr. Winslow's current one, he scheduled a meeting near the Dallas Airport in Irving Texas with George of Mobile Pitstop. Mobile Pitstop seemed to have everything Lance needed to fulfill his vision and help the synergies of the market by bundling all the mobile auto and fleet services into one giant and un beatable team. Unfortunately when George came to meet Lance, George's first comment offended Lance's wife. Mr. Winslow was willing to over look the comment provided George could deliver. During the meeting Lance got the feeling that the oil additive "Oil Extreme" was not only over priced but was typically sold the same way Rockefeller's dad sold his snake oil and during the entire meeting Lance could not get out of his head the comment George made as it was demeaning to all women. Lance kept thinking back to the Rockefeller Biography and Rockefeller's dad who kept two wives. To top it all off George refused to discuss the possibilities of The Oil Change Guys using anything but Oil Extreme, which costs nearly triple the price of any oil on the market and in many case five times the amount. Understanding the consumer, Mr. Winslow realized that his franchisees would have little or no profit margin left if they only used Oil Extreme only, as some customers buy on price because oil changes are a necessity and not an impulse buy like his auto detailing franchise; The Detail Guys www.detailguys.com . George, at the all you can eat rib place, during lunch, flipped through a picture book as if he was trying to sign Lance up as an Amway Distributor. Lance was getting quite upset with the situation having driven 1600 miles from the East Coast to meet George half way in Texas with only three hours of sleep before the meeting. Mr. Winslow had driven the trip non-stop and got a ticket in one of those notorious Texas Speed Traps. Two-thirds the way through lunch George said that the service vans had to have the checker board design with large logos of Oil Extreme and could not be yellow. Lance was so upset he swore at George pounded on the table and announced the negotiations over, took back all of his information, including a gift of an out of print 1945 book "The Golden Age" By J. Paul Getty and told George, I will see you in the market place. Mr. Winslow wants to crush his competition. Most franchisors have competitiveness amongst their biggest traits. To be continued. . . "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Latest News:Site: Yahoo! News Search Results for news Myanmar's Suu Kyi to get family letters, news mags (Reuters via Yahoo! News) Detained Myanmar opposition leader Aung San Suu Kyi has managed to wring small concessions from the ruling generals in the form of letters from her family and some international news magazines, her lawyer said on Friday. JCDecaux in talks for News Outdoor Group in Russia (AP via Yahoo! News) French outdoor advertising firm JCDecaux SA said Thursday it is negotiating to buy Russian rival News Outdoor Group from global media company News Corp. News Corp tightens grip on Premiere with new CEO (Reuters via Yahoo! News) Rupert Murdoch tightened his grip on German pay-TV broadcaster Premiere by appointing News Corp executive Mark Williams as CEO in a move to get the company back on track. SEC Looks Into UAL Stock Scare; Implications For Online News? (CBS News) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel 's current news flow, was picked up by a Google (NSDQ: GOOG) News bot and, via a reporter for a newsletter, made it onto Bloomberg News. After a lot of buck ... JCDecaux and News Corp. in talks to combine outdoor ad groups (International Herald Tribune) The News Corp. chief executive, Rupert Murdoch, has recently expressed nervousness about investments in Russia, where News Outdoor generated the bulk of its revenue last year. SEC Looks Into UAL Stock Scare; Implications For Online News? (paidContent.org via Yahoo! Finance) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel's current news flow, was picked up by a Google News bot and, via a reporter for a newsletter, made it onto Bloomberg News. JCDecaux in talks to buy News Corp. billboard unit (AP via Yahoo! Finance) In a deal that would create the world's largest outdoor advertising company, French conglomerate JCDecaux SA said Thursday that it is in talks to buy Russian rival News Outdoor Group from global media company News Corp. Phila. mayor to announce grim budget news (The Philadelphia Inquirer) The Nutter administration is expected to announce grim budget news today, which is all but certain to lead to significant spending cuts - perhaps as high as 10 percent - in some city departments, according to three sources familiar with the budget. News Corp says Mark Williams interim Premiere CEO (Reuters via Yahoo! News) News Corp. executive Mark Williams has taken over as chief executive of German pay-TV broadcaster Premiere in an interim capacity, News Corp. said after the move led to renewed takeover speculation. News Corp. says Mark Williams interim Premiere CEO (Reuters via Yahoo! News) Mark Williams, a News Corp. executive named late on Wednesday as chief executive of German pay-TV broadcaster Premiere, has taken over in an interim capacity, a News Corp. spokeswoman said on Thursday. Site: news - Google News Phil Schiller bringing the news at Macworld - San Francisco Chronicle
MORE RESOURCES: Site: Yahoo! News Search Results for entrepreneurialism Lone Star Library: Green Mountain founder shares entrepreneurial insights (Fort Worth Business Press) Rural Southerner Sam Wyly came by his self-made captain-of-industry status the hard way, developing a passion for business strategy by playing schoolboy football and observing his parents? natural gift for small-business operations and hard-bargain bartering. S.C.'s brightest complete Business Week (Columbia Star) Approximately 200 high school students from across S.C. have successfully graduated from South Carolina Business Week, presented by the South Carolina Cable Television Association, July 13- 18, at Presbyterian College in Clinton. Wellington West opens Montreal branch (CNW Group via Yahoo! Finance) Wellington West Holdings Inc., a privately held, employee-owned financial services firm, today announced the expansion of its national network with the opening of a Wellington West Capital Inc. full-service retail investment branch in Montreal, Quebec. Ctek Selects Kyocera 300 Module for Z4100 Wireless Router (Centre Daily Times) Kyocera Wireless Corp. (KWC), a leading global manufacturer of wireless handsets, devices and embedded machine-to-machine (M2M) modules, and Ctek, a leading manufacturer of specialized communications solutions for industrial and commercial applications, today announced the selection of the Kyocera 300 Module for Ctek's cost-effective Z4100 Router. The Kyocera 300 Module enables reliable, ... Memphis confident of growth campaign (Memphis Commercial Appeal) One year after the launch of a $64 million economic development campaign, city officials are increasingly optimistic about the impact of MemphisED on the Bluff City. Summer break project: JTCC student lives, learns nonprofit leadership with Pheonix Project (The Petersburg Progress-Index) CHESTER ? Jamie Poniatowski, a Class of 2008 human services major, spent her summer break in Petersburg, participating in the Phoenix Project?s 2008 Nonprofit Leadership and Social Entrepreneurship Program, which transforms committed undergraduate and graduate students into effective social entrepreneurs with the knowledge, skills and connections to succeed in Virginia?s nonprofit sector. Ctek Selects Kyocera 300 Module for Z4100 Wireless Router (Business Wire via Yahoo! Finance) SAN DIEGO & RANCHO PALOS VERDES, Calif.----Kyocera Wireless Corp. , a leading global manufacturer of wireless handsets, devices and embedded machine-to-machine modules, and Ctek, a leading manufacturer of specialized communications solutions for industrial and commercial applications, today announced the selection of the Kyocera 300 Module for Ctek?s cost-effective Z4100 Router. $1 Million Opus Prize Finalists Announced (PR Newswire via Yahoo! Finance) Seattle University and the Opus Prize Foundation today announced three finalists for the $1 million 2008 Opus Prize, one of the world's largest humanitarian service awards. Guided by faith and an entrepreneurial spirit, Marguerite "Maggy" Barankitse, Krishnammal Jagannathan and Michael Woodard are working throughout the world to give people the tools to transform their lives. Scotiabank Online Small Business Contest Last Call (CNW Group via Yahoo! Finance) The chance for Canadian small business owners to win $50,000 in cash prizes is coming to a close. As part of Scotiabank's 'Get Growing to a Million' Campaign, the online challenge has offered small business owners across Canada a chance to win one grand prize of $20,000 and six regional prizes of $5,000. In cinemas this weekend (Guardian Unlimited) RocknRolla | The Duchess | Bangkok Dangerous | Disaster Movie | Sweete Land | El Cantante | Never Apologise | Mera Pind My Home Site: entrepreneurialism - Google News Ohio House Speaker Budish touts regionalism in his first address - WKYC-TV
|
|
|
|
RELATED ARTICLES
Why eBay Is A Smart Choice For Entrepreneurs Attention entrepreneurs: If you think the search for the ultimate moneymaking business opportunity is like searching for a very small needle in a very big internet haystack, then think again!Perhaps you've been searching the worldwide marketplace and are both overwhelmed and frustrated by an endless stream of internet ads promising you unfathomable fortunes, each claiming that their opportunity is the answer to your prayers. Perhaps this avalanche of information is giving you an acute migraine. The Role of Statistics in Prospect Modeling Identifying prospects has come a long way since the days of simple list buying. With the hype flying fast and furious, sometimes it's difficult to sort out truth from fiction and to put things in the proper perspective. Corporate Espionage in Franchising Franchising Trade Journals do not do well, because today with all the industry regulations only about 1800 active franchise actually exist in the US. Down sharply over the past five years. Boundary Setting 101 for Solo Entrepreneurs Select the best response to the statement below:As a solo entrepreneur, setting boundaries is all about?.a. From Employee to Entrepreneur: Taking the Plunge Before you decide whether or not running your own business is right for you, start by pinpointing your area of expertise and assessing your aptitude for business.Starter Questions Ask yourself the following questions:- In what areas do people approach me for advice and assistance? From what parts of my job do I get the most satisfaction?- What do I like doing so much that I would do it even with no pay?- What hobbies or interests could I "spin off"into a small business?- Do I enjoy budgeting and financial planning?- Do I enjoy making cold calls, tele-marketing and selling?- Do I have enough self-discipline to work on my own?- How easy is it for me to bounce back from rejection & setbacks?Proceed with CautionBefore you take the plunge, it's important to "wade in gradually" or you may just find yourself swamped. The Desire For Money, Do You Have Business Sense? For those of us who grew up with parents who worked for businesses rather than owned them, the world of business can be quite a mystery. Even more so if we've dared to try to start one of our own. Do You Have What it Takes to be a Successful Entrepreneur? Print off this page, take the quiz and find out if you've got what it takes! See the scale at the bottom to mark yourself.Answer the following questions on a Scale of 1 - 51 - definately not 2 - not likely 3 - sometimes 4 - probably 5 - definitely--------------------------------------------------------------------------------1) Do you have many hobbies (besides TV viewing and playing video games)? ____2) Do you take a leadership role in group settings? _____3) Can you discipline yourself to finish a project, even if it means late nights and low recognition from your peers? ____4) Do you often think of new and innovative ways to do things? _____5) Do you enjoy meeting new people? ____6) Have you had success in the past in planning a project, and carrying it through to it's completion? _____7) Would you consider yourself a positive person? ____8) Even when things go wrong do you try to "learn a lesson" from the experience? ____9) Do you enjoy working alone? ____10) Do you manage your time well? ____11) Do you like to set goals and achieve them? ____12) Do you like to take calculated risks to achieve an objective? ____--------------------------------------------------------------------------------ScoringIf most of your scores are 5's you have a very strong "entrepreneurial streak" and should strive for your goals. Designing a Comprehensive Franchise Company Computer System One of the most important management tools a franchised company needs is a great computer system. The system must integrate with all the franchised outlets and also be able to interface with the Corporate HQ computer system. The Power Of Personal Environments I've got to admit, I'm a big fan of comfort. I like it when things in my world are stable and reliable. Business Ideas Richard Branson, billionaire founder of Virgin Records and Virgin Atlantic Airlines, may be better known for his efforts to circle the globe in a hot-air balloon than for his business successes. He suggests that "Being an adventurer and an entrepreneur are similar? You're willing to go where most people won't dare. Defining a R&D Framework for Entrepreneurship and Innovation on Information Product Generation IntroductionKnowledge is the key resource that forms the institutional basis of the post-industrial economy and society. It should be empasized that it is institutions of higher education that give tangible expression to this argument by acting as catalysts for knowledge and research-driven economic growth as well as well-being enhancement. Raising Capital for Your Business - How Long Does it Take? Most companies vastly underestimate the time commitment necessary to successfully complete a financing. In actuality, a company seeking financing needs to budget between 500 to 1000 work-hours to the capital-raising process, spread out over a 6-9 month time period. How to Become a Successful Entrepreneur on the Web Becoming a successful entrepreneur in the online world is no different than becoming a successful entrepreneur in the brick-and-mortar world. Both tasks require vision, determination, and hard work. The Six "F" Words Every Entrepreneur Should Know Start your own business, and soon enough, you find yourself in a situation where there are many things you want to say, all of them unprintable.It happens to every entrepreneur - a moment of extreme challenge that causes you to wonder why you started the (expletive) business in the first place. A Startup Never Closes When it comes to a startup, the luxuries shared with established companies are few and far between. Chief among them is the luxury to close at the end of the day. Increasing Business BIGTIME with a Successful Referral System What I've discovered from most of my small business clients is that most would prefer to build their business through referrals rather than through direct mail, advertising in newspapers, radio, TV. However, most leave the referrals to a somewhat chaotic, unplanned approach. 5?4?3? 2...1? A streak dating back more than three decades came to an end at midnight on New Year's Eve. For the first time since 1972, as America rang in 2005, "America's Oldest Living Teenager" was not in Times Square to count down the dropping of the giant ball. Prescription for the Future and Technological Revolutions The world sure has changed in the last two-decades hasn't it? When I started out in business, there were no cell phones, fax machines, computers, etc. And I am not that old, having just retired at age 40. Pre-Money vs. Post-Money Valuation When a company decides that it must raise capital, a key question that must be answered is how much the company is worth. For example, if the business needs $500,000 to get started and/or grow, how much of the equity in that company should $500,000 command? Once this question is answered, the company will go out and try to find investors. Herb Filled Pillows Make Over a Million Dollars Lauren Rosenstadt was a single mom working at a herbcompany in Bethesda, Maryland. A herb (pronounced "erb") isa plant that has medicinal, savory, or aromic qualities.
|
| Home | Site Map | Resource Links |
