Wendys menu may consist of tasty value meals, but beware because the food is still Fast with a capital F! Meaning that it is relatively unfavorable to promoting shipshape health. Nonetheless, it is probably one of the most notorious fast food chains in America today and I’m sure Dave Thomas looks down at it from the heavens with the utmost pride.

The first Wendys store opened up in Columbus, Ohio on November 11th, 1969 by Dave Thomas after a friend suggested to him that he open up a new restaurant in one of his old buildings. He named the restaurant after his daughter nicknamed “Wendy”. This was also the day when a new dream was born and it was not only to fulfill his own passion or to provide an eatery for many famished customers, it was also to reach out to the issues of the human heart and to make this world a more wholesome place. Initially, he accomplished this means by reuniting and supergluing families together as they’d be seated together in bliss munching on the juicy hamburgers laughing together and sharing memories just like during his childhood days as he’d hop from one restaurant to another with his family. He only reinforced the concept of the family dinnertable and to be honest his spirit could come back and haunt society again as the dinnertable is loosing its significance today. Despite being the third largest food chain in the country, it is by far the most successful franchise today as Dave Thomas had only one thing in mind: Perfecting the quality.

Due to his motto, Wendys is huge and has expanded its operations in its global market as it concentrates only on the quality and not on soaring profits unlike McDonalds and Burger King. Unlike the latter two fast food chains, the patties at Wendys are made from 100% ground beef and not from frozen patties. The squared ground beef patties is what separates the chain from its rivals. Also these patties are totally fresh and do not contain any of the harmful pesticides or antibiotics that the frozen beef may contain. The customers needs are what really matter the most and Wendys has done whatever it took to address these needs. This is probably why its the most popular at The University of Texas at Austin, where I go to school. There are about three Wendy’s located around the vicinity with two on campus and one just right off of it. They’ve only expanded their horizons in recent times by introducing the new Bevo Chicken sandwich which includes the spicy chipotle sauce as the dressing and is really

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Even the best small business ideas will fail unless the person starting the business has the discipline to push it until it succeeds. Your ability to innovate will also be a major concern. Some generic ideas can become big if you make adjustments to build a niche for the business.

The initial financial position of the person or group starting the business will have a bearing on the outcome. Businesses started on a shoestring have a higher incidence of failure because the owner cannot stay in business long enough to establish a strong customer base. Even buying an established business with a customer base can be difficult because many small businesses make their owner a good living, but do not have the cash flow to make a business payment and support the new owner.

If you plan to start a business, look for a way to get it going slowly. A business that can be started in your basement or garage may be a good choice. Many options are available in this type of small business venture.

Small scale manufacturing can be a good place to begin. If you like to work with your hands, wood working can start generating revenue as a byproduct of your hobby. This can be craft items or furniture. Even cabinet building can be started this way if you have the right equipment. As the hobby begins to take more and more of your time, it should also be generating more cash. The transition from part-time to full-time can be seamless.

Mail order, drop ship, and small scale retail can also be started on a part-time basis. Even companies like Avon and Quixtar offer options here to become business owners with modest initial costs. The products can be sold via a catalog, internet, or as a retail effort. This type of business can spread by word-of-mouth, but is best spread by a more aggressive business plan that involves soliciting new buyers and business from a widening circle of contacts. You have to be willing to sell it.

If you are internet and computer savvy, different types of business can be started. Selling and building websites can be a profitable business if you have a few hours a day to devote to the programming and maintenance required. These can be marketed online and with newspaper and other types of low-cost advertising.

Computer repair can be a relatively cheap business to get into. Because many computers do not actually need physical repairs, this can become lucrative just by fixing other peoples’ computer mistakes. Computer and software sales can be incorporated into this mix.

For outdoors enthusiasts, landscaping, pool maintenance, and handyman work abounds if you can start slowly. Unlike the previous small business ideas, this one will require a quicker need for staff if it grows. However, as staff is added revenues will grow exponentially.

For full-time businesses, restaurant franchises make great small businesses in most communities. The downside is that you will have to invest many hours in this business for many weeks until you can open new franchises and find great managers. Auto repair shops and auto parts sales can become great revenue producers with modest effort.

Two choices have to be made. The first is how much risk you are willing to take. For full-time business opportunities, the risk is higher, but the payday can be bigger quicker. By starting part-time, the risk may be low, but so are the income opportunities unless you become aggressive in promoting and working the business.

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It’s increasingly common these days to find middle-aged, mid-level managers suddenly faced with huge shifts of circumstance. Down-sizing, bubble-bursting, plant-closing, and consolidating are just some of the forces creating a class of sudden solo-preneurs.

At 50-something you face particularly difficult job-hunting challenges. Your salary range is high. Your network is decent after so many years, but jobs at your level are few. You’ve been there, done that, and thought you were finished with all that new trick-learning.

A big upset like job loss can provide a shift of perspective– an opportunity to take stock. What is really important? What do you want to pursue at this point in your life? Is being your own boss the way to go?

I spoke with several silverbacks to share their wisdom gleaned from these life changes with a new member of the pack.

Dean turned 50 in January of 2005. In May he was fired from his position as marketing director of a high-tech firm. He’s angry at the ease with which an employer could let him go.

“Control is a big issue for me. Do I really want to have someone tell what, where, and how? It seems like I work a lot but don’t reap the benefits. If I were on my own I’d have all the benefits and all the risks.”

Dean is deciding whether to find another job with the security of a regular paycheck and benefits, or start his own business. He finds information on the internet helpful but wishes there was a Big Brother-like program pairing people and businesses to help him sort through the options.

Carl was 51 when the ordinance plant where he was safety manager closed its doors.

“I had a lot of friends in the business. I could have easily picked up another job but I would have had to relocate halfway across the country. I didn’t want to do that.”

Bob was an engineer whose position was eliminated after 23 years with the firm. This sent him into a deep depression that lasted for months.

“I couldn’t even drive.”

With the help of his psychiatrist, Bob recognized what was most important in his life—his wife, his son, and his lifelong hobby, bird-watching.

“My doctor told me to go bird-watching every day. While out there on the wetlands I had a vision. I couldn’t go back to the corporate life.”

It takes a lot of stamina and belief in yourself to move ahead with plans for a business. Carl spoke of his state of mind at the time:

“I wasn’t frightened. I’m a survivor. I screwed up when I was younger— went bankrupt, lost a lot of material things. One good thing about failing is that it gets you over that fear of failure. You learn from your mistakes.”

Both men did a lot of research, internal and external. Bob determined that he loved birds, kids, nature, education, photography, and the environment. Anything he pursued needed to involve those. Once he was clear on the essentials the how-to landed in Bob’s lap.

“I saw an ad in a magazine to call for franchise information. My mind immediately took off with the possibilities. I began looking at retail spaces thinking ‘I wonder how that location would work?’ I saw the ad on a Saturday. That Tuesday I called the company. On Thursday I had the package and on the following Tuesday they had it back.”

Carl was taking his time, looking at options. His values included a love of people and a desire to create a positive environment.
His plans started with casual conversation.

“My buddies owned this building. There had been a restaurant there years ago but it had been mismanaged. And somehow the idea of starting another one came up. At first we were clowning around, yucking it up over a few beers, but then we started getting more serious.

Bob made use of the infant, but still helpful internet of 1995. Carl used lower tech methods to estimate his market.

I spent 15 days from 4:00 am to 11:00 am counting cars at that intersection. I figured if we could get a big enough percentage of them to stop we’d be in business.

Bob used a book called, The Insider’s Guide to Franchising [Webster, B. 1986 Amacom, New York] to help him review his offer. Carl was mentored by a successful friend in the restaurant business who helped him think things through. They developed their business plans and opened their doors.

The first year was tough for both businesses. Miscalculations and errors sent both owners reeling.

At first Carl knew nothing about preparing and serving food.

“The restaurant was overstaffed and overpaid. I felt held hostage by the people who worked for me. Things were pretty shaky there for awhile. Some days I wondered if we could open the doors.”

Bob got overwhelmed with paperwork and screwed up his accounting records.

“Plus I went crazy at Vendormart. I bought four times as much inventory as I should have. Nowadays the franchise pairs successful stores and newbies so that doesn’t happen, but those safeguards weren’t in place back then.”

In September Bob’s store will celebrate its tenth anniversary. It has been recognized three times among the Top 30 Most-Improved stores. In February and June of this year his store was number 2 out of 320 in overall sales.

Carl was advised that he’d know if the restaurant would make it within four years. It was clear after three that they’d be fine. Today after seven years they’re looking to expand.

“We’re not getting rich but we’re self-supporting, and the relationships are priceless.”

What advice do they have in hindsight for Dean and others like him?

Bob says, “Find what you love and create your opportunity. Be willing to change—be retooled. Don’t get stuck in a rut. And you gotta have another source of income when you’re starting.”

Carl adds, “We grossly underestimated the working capital we’d need. And if I had it to do over I’d own the building. There are improvements I’d like to make but I’m restricted by the landlord.”

So back to Dean, who’s looking at buying an existing restaurant business, if he doesn’t decide to return to marketing. Where do you want to be in a year? What will you say when I check back with you?

“I made the right choice. I’m doing exactly what I should and I’m excited about it.

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With franchising, everything is already provided for you— the system, the materials, the products, the training for the people. Everything is already done for you. All you have to do is put up the capital and manage the business. Some franchises even find the spot for you and even help you find the right people that will serve as your manpower.

Although there are many kinds of franchises, the most popular are in the food business. There are also some that are in the services like key duplicating, repair shops, salons. There are actually a lot of things that you can franchise. In fact, you may even propose the start of a franchise to an owner as this is one way of expanding the business without shelling out the money.

If you are keen to make money now, below are some tips that can help you in choosing the right kind of franchise for you. Read on and be on your way to financial freedom.

The product is everything

This is one of the most crucial things that you have to consider when looking for a potential franchise. Your product should be really good. If it is food, make sure that you yourself love the food that you are going to sell. Believing in the product that you are selling is the initial step in any business. After all, how will you sell it if you do not believe in it?

Another thing that you should consider in choosing the product is the know how to do it. This is especially true if you are considering franchise that involves food. You first need to know how to prepare the food and how to cook it before you decide to franchise.

It’s in the location

The next factor to consider is the location of the franchise that you are going to put up. initially look for potential spots where you can put up your business franchise. After which, do some market research on the place. The franchise will be able to help you with it as they provide these kinds of assistance to their franchisees.

There are also franchises that suggest locations that are already open. Look at these locations and also consider how accessible the place will be from your own home. Remember, even if it is just a franchise, you still have to do the managing yourself.

Power in the People

Even if you have a good product and you have a good location, if your crew or the people that you hire are not properly trained or just plain not good enough, the business can still fail. The people can actually make or break the business.

It is important to choose people that you like and those that you can trust. This is especially true if you do not have the time to do full-time management. This means that you need to have someone that you can really trust to oversee the business while you are doing something else.

Properly training your people is another crucial thing. They need to be able to show the customers that they know what they are doing. This is important if you want to establish credibility.

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Dunkin Donuts is an obsession she has to fulfill on a daily basis. Drinking DD coffee is a matter of life and death and has resulted in some serious situations as she seeks to satisfy her craving. She refuses to be caught in traffic jams on her way to the nearest DD outlet eighty miles from home. Running red lights is seen as a necessity in order to pick up her morning coffee and Boston Creams. Crossing the median on a highway is no big deal for the woman who lives for Dunkin Donuts. She has even been known to outrun State Troopers and ambulances en route to her next Dunkin Donuts fix.

Opening a Dunkin Donuts franchise would be a dream come true for my wife and would be all she ever needs in life. Some people love playing golf, or going on cruises, or climbing mountains. My wife has a love for visiting Dunkin Donuts. This is her whole life. She knows where every outlet is in the USA and has been to most of them. She has organized a Dunkin Donuts vacation for next year where she hopes to visit three outlets every day for two weeks. She even called our first son Dunkin and then named our next son Donut. She tells me I am strange because I like to play golf and is offended when I tell her she is obsessed with Dunkin Donuts.

Whenever our anniversary comes around, I buy her a large bag of Dunkin Donuts coffee and a dozen Boston Creams. She buys me a dozen golf balls. Her obsession is having quite an effect on our marriage as she spends her evenings preparing to leave on her morning trip to DD. I’m awakened every morning at four-thirty as she gets showered and dressed to leave for her morning coffee in another state. She doe not return home until early evening and starts the process all over again.

She even assaulted me on one occasion when I made the mistake of returning home one day with some Krispy Kreme donuts and a cup of coffee from a gas station. I will never do it again! Dunkin Donuts franchises are certain to grow if my wife has anything to do with it. I can guarantee she will open her own Dunkin Donuts franchise one day. I cannot guarantee she will allow anyone to buy anything from it as she pours gallons of coffee down her throat and stuffs her face with all the Boston Creams she can make.

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Pros and Cons of Buying a Franchise for Sale: Advertising
As any entrepreneur knows, the cost of quality advertising is astronomical – but that’s because it works. Print, radio, and television advertising not only alert potential customers to your presence, but also lend credibility to your business. Statistically speaking, people are more likely to buy a box of cereal or patronize a car repair shop that they’ve heard advertised rather than one they haven’t. One of the reasons that new businesses go under or fail to grow as anticipated is due to a lack of advertising dollars.

Perhaps the greatest benefit of buying a franchise for sale is that owners are not alone in building the business. The corporate office and other franchise owners all have a vested interest in attracting business and building the brand through advertising. With a well organized corporate office and by pooling advertising money, the high cost of advertising works in favor of franchise owners rather than against them. With the resources of a larger team, franchisers can afford to advertise while other area local businesses can’t.

There really is no downside to buying a franchise for sale in terms of the advertising benefits unless the corporate office has a poor plan for advertising. For this reason, it is critical to do research about a potential franchise for sale before jumping in. One of the main considerations of buying a franchise for sale should be the company’s plan for advertising and how your location fits in.

Pros and Cons of Buying a Franchise for Sale: Systems and Processes
It takes years of trial and error for a business to develop effective systems and processes. These processes can include even the finest details like how to answer the phone, how to organize the store, and the type of clothing employees must wear. Most well established franchises for sale require the owner to adhere to these systems and processes to maintain continuity between locations and because they have proven to be profitable.

For many entrepreneurs, having this well established set of business rules that comes prepackaged with a franchise for sale is a great benefit. This means less time wasted and money spent on trial and error to find what works. It can take many years and a great deal of money to perfect a set of processes that yields the highest response from customers.

However, many entrepreneurs don’t enjoy working within strict guidelines. For them, buying a franchise for sale equates to buying a job and not starting a business. For the entrepreneur that is in business to forge new paths, buying a franchise for sale may not be the ideal solution. The tradeoff for franchise owners sticking to regimented systems and processes is the safety and security of proven methods.

One of the great benefits of owning a franchise is that lots of people are on your team striving toward a common goal. A good franchise for sale has an entire corporate management team working hard to ensure the success of the franchise. When doing your research about a franchise for sale, take extra care to look into the support structure offered by the corporate office and the way in which various franchise owners work together.

Not every franchise for sale is a good franchise opportunity. When you become a franchise owner, you take on any potential business problems of the parent company. If the parent company has management troubles, those troubles will no doubt trickle down into your establishment. However, once you’ve done your research, explored the possibilities, and found a great franchise for sale, you’re well on your way to a profitable and fulfilling future.

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I mention the possibility that Mr. Cutter was forced out, because Friendly’s largest shareholder, Sardar Biglari, included this disclosure in a recent 13-D:

“The Reporting Persons have consulted with the Chairman of the Board of

Directors and management of the Issuer concerning the business, operations and future plans of the Issuer, and are seeking seats on the Board of Directors for Mr. Sardar Biglari and Dr. Philip L. Cooley . The Reporting Persons continue to evaluate the business prospects of the Issuer, as well as its present and future intentions. The Reporting Persons may from time to time consult further with management, with members of the Board of Directors, or with other shareholders of the Issuer.”

The reporting persons are The Lion Fund L.P., Biglari Capital Corp., Sardar Biglari, and Western Sizzlin Corp. (WSZL).

The two notable entities are The Lion Fund, a hedge fund run by Mr. Biglari, and Western Sizzlin, a public company engaged in the operation and franchising of restaurants.

Western Sizzlin

Biglari (and others) effectively took control of Western Sizzlin during late 2005 and early 2006. Individuals controlling more than a third of the company replaced the existing board. Below is the description provided in Western Sizzlin’s most recent annual report:

“In November 2005, we added three members to out Board of Directors, namely Sardar Biglari, Philip L. Cooley, and Paul D. Sonkin. Subsequently, in March 2006, six of the incumbent directors, namely Paul C. Schorr, III (our former chairman), A. Jones Yorke, J. Alan Cowart, Jr., Pat Vezertzis, Jesse M. Harrington, and Roger D. Sack, resigned from the Board. At that same time, Mr. Sonkin indicated that he would not stand for re-election at the 2006 annual meeting of stockholders.”

The Lion Fund

The Lion Fund is managed by Sardar Biglari, 29. Philip Cooley serves as one of the fund’s directors. Biglari was a student of Cooley’s at Trinity University. The Lion Fund was launched just over five years ago – although Biglari apparently operated the fund with his own money for about one year before welcoming new investors.

Sardar Biglari

Biglari has an interesting story. He started an Internet Service Provider while still quite young; then, went on to found The Lion Fund. He frequently cites Warren Buffett as an investing influence. His letter to shareholders (as Chairman of Western Sizzlin) certainly bears a resemblance to Buffett’s own annual letter.

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A lot of people in the ex services are looking towards franchising as a good option, they have the money to invest (retirement gratuity funds or savings), the self motivation and dedication to work which has been instilled in them from years of discipline and hard graft.

The advantages of choosing the franchising option are immediately obvious in that you are buying into an already successful business where the returns are noticeable, you are your own boss but at the same time have an upper management to keep you in the right direction and the return on investment is one which can set you and your family up for life.

It may be that you want to use your existing skills as a base for the type of franchise you are buying into and as there are a multitude of options out there, whether it is retail, automotive or trades & industry, there will always be an option tailored just for you.

Even if you want to branch out into a completely different area than you are used to, there are many franchise opportunities out there that offer extensive training and ongoing support. It is in the franchisors best interest to have you make a success of your new business.

Before diving in head first, it is always best to research the opportunities available to you, there are many franchised businesses out there and not all succeed. If possible always ask the franchisor for a list of franchisees whom you may contact. Try to get some negative feedback from the franchisee, whilst of course the franchisor is very likely to have given you a list of the most successfully run franchises you should still be able to learn a few of the pitfalls which they encountered when they first started.

When talking with the franchisor, remember they are not your employer and this is not an interview, do not be bullied by them because they need you as much as you need them. If you feel at all pressured by them into buying their franchise then maybe it is a sign that you should look elsewhere. For every coffee franchise there are several other similar options available. It is your savings you are investing so take the time to find the best opportunity available for you.

UK Franchise Directory Franchise Information Resource

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I grew up with parents that were addicted to coffee. Every morning they would wake up early and make a pot and share it before they went to work. When they got home in the evening they would brew some more up again. I remember watching that dumb foldger’s commercial “The best part of waking up” and thinking “That is like so true about my family” In one of the videos a soldier comes home from service and brews his parents up a pot before they wake up. This of course inspired me at a young age to wake up at the butt crack of dawn and brew coffee before my parents, in order feed their addiction. This was before the onslaught of the Starbucks franchise. Back then paying 1.55$ for a cup of coffee was completely outrageous. Times have changed.

Personally I had always thought the stuff was gross. And actually I never touched a cup of coffee until I was about 19 years old. At nineteen I went to work for Starbuck’s. You might think that I am going to go into a long spiel now about how Starbucks is some sort of evil empire but the truth is actually quite different. In retrospect Starbuck’s was one of the best college jobs I ever had. The work was not very difficult and after you had risen through the ranks somewhat there was a real sort of pseudo art to making a good cup of coffee not to mention if you got into making lattes and mochas. I did have to wake up early to open the store but I found out in a hurry that coffee really helps you do that. This is when I started drinking coffee by the gallon.

Coffee then for me was a magic potion. I would go out with my friends and stay up all hours of the night. I would then go back home sleep for two hours go to work and just drink a couple of cups of coffee in order stay up, or I would pull a couple shots of espresso thinking I was being really cutting edge. I soon learned that regular old morning blend coffee usually has more caffeine then like 3-4 shots of espresso. Knowing that I really started to appreciate coffee a lot more.

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