With hundreds of new franchise concepts being started every year, it is
nearly impossible to keep track of the freshest ideas. Here is an update
of two new franchises and how they have fared in their first several months
of franchising.
The Counter - No, this isn't just another fast food hamburger joint. Besides
serving hamburgers, The Counter has as much in common with your local
McDonalds or Wendy's as the World Cup has to do with your child's weekend
soccer game. First opened in Santa Monica in 2003, this trendy update
to the classic burger joint serves its burgers with any combination of
10 cheeses, 26 toppings, and 17 sauces. So, go ahead and order that Danish
Bleu Cheese Burger topped with dried cranberries and a ginger soy glaze
you always wanted.
Since 2003, The Counter has received the type of press that most companies
can only dream about. After being listed as one of the top 20 burgers
in the country by GQ, the holy grail of endorsers, The Oprah Winfrey Show,
named it the "Best Burger in the USA." (An aside on the power
of the O-nod, sales jumped from $44,000/mo to $245,000/mo after the endorsement)
With all of this success, The Counter did the only logical next step and
began selling franchises in early 2006 with a $40,000 franchise fee and
6% royalty.
So how is it going? The company has already inked agreements for 60 restaurants
in California alone. Next up is expansion into Florida, New York, Arizona
and Nevada followed by the rest of the country. With long range projections
of only 400 to 600 units, The Counter is well on its way to franchising
stardom.
EQUIPRO - If Santa Monica and the Counter just seem too trendy and hip,
this light equipment repair franchise from Wisconsin surely won't. EQUIPRO,
a subsidiary of Wacker Corporation began providing repair service to the
light construction equipment industry in 2003. At the same time that the
light equipment market is growing at nearly ten percent per year, many
large equipment dealers have been cutting back on service support. In
response to these trends, EQUIPRO began to build out its network of service
centers.
EQUIPRO focuses on providing service for the following manufacturers:
ICS, MI-T-M, MK Diamond, Sullair, and Wacker. The franchises are also
full-service dealers for Honda, Briggs & Stratton, Robin/Subaru, Wacker
and Kohler engines.
For each franchise, the company hires a Metro Service Specialist (MSS).
The MSS is an employee of EQUIPRO, Inc. hired on behalf of the franchisee
to develop service sales and act as a liaison for EQUIPRO's OEM partners
in the local market. The responsibilities of the MSS include effectively
calling on contractor offices and jobsites, equipment and rental dealers,
as well as national accounts to promote solutions for equipment repair
and parts. In addition, EQUIPRO provides professional training on business
operations and technical details both in the classroom and on-site.
Franchising since June 2005, new franchisees can expect to invest between
$145,000 and $350,000. EQUIPRO has opened 12 service centers and plans
on opening 33 units by the end of 2006 and 150 in the next seven years.
Jamie is the founder of http://www.SmarterFranchise.com.
The leading source for franchise research, news and community. He is a
previous owner of a major franchise and has a background in finance, investments
and start-up businesses.
