RMC in The News

Franchise Times August 2013

Rmc Franchise Connect President, Darian Richardson, was recently quoted in the nationally published Franchise Times magazine. The article entitled “Dual Roles” is an excellent read, and great for anyone curious about the expansive role of the franchisor, and how it can impact potential franchisees.

Article: Dual Roles

  Legendary investor Warren Buffett is known for saying he likes to buy things he can understand. That stock market philosophy has made Buffett one of the world’s richest men. It also may explain why some of the franchise industry’s top executives are putting their own twist on Buffett’s approach by gobbling up locations of brands they founded or oversee. A growing number of franchise executives are doubling as franchise owners to expand the number of locations they own, partly a move to build a nest egg as retirement approaches, says Steve Beagelman, CEO and president of SMB Franchise Advisors, a Philadelphia consulting firm. He said the strategy is not welcomed by some franchisees who want all of an executive’s attention focused on corporate duties. Others see the dual role approach as an enticement for potential franchisees to buy into a concept. “It speaks volumes about a franchise and shows prospective franchisees that CEOs and other executives are committed to growing their brand,” says Darian Richardson, owner of RMC Franchise Connect, a Cincinnati-based consulting firm that helps individuals identify franchise opportunities. Problems possible That’s not to say some possible pitfalls won’t pop up. A clash can occur if potential franchisees feel direct competition from the home office. Richardson says a fight over territory can be a very sensitive issue. Some franchisees believe when franchisor executives are interested in opening their own locations they will buy up the best real estate. He added it is important for franchisor executives to promote, support and communicate idea generation across all units so franchisees continue to stay motivated and feel welcome to present new ideas to the home office. For the full article click on this link

Real Talk AM 1160 Saturday, July 28th from 11:00am-12:00pm & Sunday, July 29th from 12:00pm-1:00pm.

Listen to Cincinnati Real Talk AM 1160 this Saturday – and gain valuable tools to start your business and ensure that it remains succesful during the initial years and beyond.

Darian Richardson, M.S.A. will share his business and franchising expertise as a featured guest on the American Dream Radio Show.

The show will stream live online at: www.realtalk1160.com

Real Talk AM 1160 Saturday, June 9th from 11:00am-12:00pm & Sunday, June 10th from 12:00pm-1:00pm.

Listen to Cincinnati Real Talk AM 1160 this Saturday – and gain valuable tools to start your business and ensure that it remains succesful during the initial years and beyond.

Darian Richardson, M.S.A. will share his business and franchising expertise as a featured guest on the American Dream Radio Show.

The show will stream live online at: www.realtalk1160.com Listen to the Podcast

Real Talk AM 1160 Saturday, April 7th from 11:00am-12:00pm & Sunday, April 8th from 12:00pm-1:00pm.

Listen to Cincinnati Real Talk AM 1160 this Saturday – and gain valuable tools to help jumpstart your own business!

Darian Richardson, M.S.A. will share his business and franchising expertise as a featured guest on the American Dream Radio Show.

The show will stream live online at: www.realtalk1160.com

Listen to the Podcast

3/11/2011-Business Courier Author: Tom Demeropolis www.bizjournals.com/cincinnati/

Franchise growth sizzling nationwide in recession’s wake

Ray Wiley knows the challenges of being both a franchisee and a franchisor. The longtime Subway franchisee launched his own Mexican fast-casual restaurant concept in Dayton back in 2007. Now, Hot Head Burritos is one of the fastest-growing franchise concepts in the region. And in the wake of the Great Recession, Hot Head Burritos could have as many as 100 locations in some stage of development before the end of the year. Wiley is far from alone, as franchise businesses across the country are gearing up for growth. Coming out of recessions, franchises historically have grown at a faster clip. Matt Haller, director of communications for the International Franchise Association, said franchises perform better in down economies because of the nature of franchising. Franchises are easier to operate and easier to expand because franchisees can draw from experience in the franchise system and support from the franchisor. Many who lost their jobs during the recession don’t want to be dependent on someone else for their income. Franchising offers a way to be independent without starting from the ground up. Don Boroian, founder and chairman of Chicago-based Francorp International, said franchising offers entrepreneurs an easier way to own a business. “Ninety-five percent of people who try to start a business from scratch fail,” Boroian said. Franchising is the fastest and strongest way to scale a business to create new jobs and expand a business, Haller said. Darian Richardson, president of Cincinnati-based RMC Franchise Consulting, works with clients interested in buying a franchise. For the first quarter of the year, activity is up 10 percent compared to the fourth quarter of 2010, Richardson said. He’s seeing increased interest from two different segments: those who have lost their jobs during the recession and those who are looking to franchises to supplement their existing income. For those making a career change, Richardson helps them investigate the type of franchise business that fits them best. “If you’re considering starting a business, perform a self-assessment first. Figure out what’s important to you,” Richardson said. And franchising goes far beyond restaurants. That way, you don’t have to come home smelling like hamburgers if you don’t want to, he said. Franchise segments that are seeing continued expansion are senior care, personal care, such as hair salons, and business related to pets, Richardson said. There are more than 300 business format lines that operate as franchises, Haller said. The biggest obstacle facing both franchisees and franchisors is access to credit. Banks have tightened restrictions on lending, in turn making it more difficult for franchisees to get money to start up their own business. “We’re making the argument now that we can turn this economic recovery into a jobs recovery if we can get the banks lending again,” Haller said. For every $1 million loaned to franchises, 34 jobs are generated, Haller said. Credit has been a hindrance for potential franchisees in the past, but a growing number of franchisors are acting as banks for their franchisees. Haller said this is a trend across the board for franchises. “Franchises are looking for creative solutions to grow their systems,” Haller said. Toledo-based Marco’s Pizza, for example, has several programs aimed at helping franchisees open stores, including providing them financing or guaranteeing their loans with banks. The 225-unit company has roughly 60 stores in development. ServiceMaster Clean is offering qualified prospects up to 80 percent financing to start their cleaning business. Another franchise offering lease finance options is Hoodz Kitchen Exhaust Cleaning, Richardson said. Franchises of all shapes and sizes have targeted 2011 as a growth year. Locally, LaRosa’s is looking to expand through multi-unit franchise operators in cities such as Nashville, Louisville and Columbus. Dunkin’ Donuts experienced a 50 percent increase in development deals last year, crediting existing franchisees and incentives. The chain opened 206 new locations in the U.S. In some markets, the Canton, Mass.-based franchise offered reduced royalty fees for three years and an extra $10,000 in local store marketing. After more than 35 years in the franchise business, Boroian said there is always room for another franchise, as long as it’s well-run. “The naysayers in 1970 said there was no room for another burger operation. We’ve seen burger operation after burger operation go on to flourish,” he said. “There’s always room for one more.”

9/21/2010- Soapboxmedia Author: Feoshia Henderson www.soapboxmedia.com Locally launched RMC Franchise links franchises, business owners

7/3/2010 – The Cincinnati Enquirer Author: Jeff McKinney www.cincinnati.com

RMC Franchise Connect helps match potential entrepreneurs, new business opportunities DOWNTOWN – Darian Richardson is convinced that franchising will continue to be a hot career choice for entrepreneurs.   That confidence this year prompted Richardson to launch RMC Franchise Connect, a downtown-based firm that provides free consulting services to help individuals identify franchise opportunities. RMC is paid a finder’s fee by the franchisor once a successful match is made between an individual and the company. Richardson, 33, was co-owner from 2004 to 2009 of Pep (formerly Promotion Execution Partners), a Cincinnati-based firm that specializes in promotional management and execution services for companies, including handling direct mail and website initiatives. He sold his stake in that company last year to help open RMC. WHY DID YOU feel there was a market for your firm? With the state of the economy due to downsizing, unemployment and job dissatisfaction, more people are re-evaluating their career options. They’re looking for ways to provide stability, financial security and work/life balance for themselves and their families. Statistics show that one in 10 Americans launched their own business in the second quarter of 2009 as a path to economic recovery. And franchising has been at the forefront of that trend. WHY WOULD SOMEONE choose a franchise as a way to start a business? Franchises have brand recognition that provides instant credibility to the business. For instance, most people recognize franchise names immediately: Cinnabon, Great Clips, Precision Tune, Ace Hardware and Molly Maid. Not only are you getting established brand identity, but more importantly, a proven business model that has been successful over time. WHO IS A potential franchisee? Any individual looking to start a business, a corporate executive in transition or someone looking for a side business to supplement his or her income. Another growing segment is stay-at-home moms. WHAT ARE THE hottest franchise categories these days? The first one is senior care, as the baby boomer generation continues to age. They will make up 25 percent of the nation’s population in the next five years, creating greater demand for franchises to service those needs. Another hot area is children services, including child care and in-home tutoring. WHAT ARE THE biggest challenges to opening a franchise? The biggest is getting financing to start the business. Other major obstacles include choosing the right franchise that fit your goals and taking the time to do the diligence to make a smart decision.   Reproduced with permission of the copyright owner. Further reproduction or distribution is prohibited without permission.