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Franchise Freeway News
This latest funding round brings MOD Pizza’s total equity capital raised to more than $185 million, financing the company said will help it bolster its presence in existing U.S. markets and in the United Kingdom.
After eight years as Domino’s president and CEO, Patrick Doyle announced he is leaving the company on June 30 after several years of massive sales growth that brought the Michigan-based global pizza giant over the $10 billion mark in annual revenue.
Pizza Hut delivered a surprise at this year’s International Consumer Electronics Show with the announcement that the pizza giant has partnered with Toyota on the development of fully autonomous delivery vehicles with Toyota.
As the rest of the country experiences the bomb cyclone, which we here in Minnesota simply call winter (sorry, rest of the country), we’d like to invite you up to the perfect event for a minus-11 day: The Pirtek Snocross National, scheduled for today and tomorrow at Canterbury Park in Shakopee, a Minneapolis suburb.
If I had a dollar for every young franchisor that says they’ll get to 100 units in a couple of years, I’d have a whole lot of dollars. In fact, I edit such predictions out of the stories we publish in Franchise Times because they almost never come true. A new report by FranchiseGrade backs me up.
Changing consumer trends and increased competition are wreaking havoc in certain restaurant segments, and even though the pizza category remains hot, new consumer research shows Domino’s eating Pizza Hut’s lunch as the great pizza wars rage onward.
Orangetheory Fitness tops this year’s Franchise Times Fast & Serious list, its 218 percent unit increase over the past three years evidence of CEO Dave Long’s smart growth strategies, one of which is a commitment to the area representative model.
Code Ninjas, a new franchise dedicated to teaching kids software coding, announced a major milestone with 100 franchise agreements in development with 53 franchisees in 23 states. Noting that parents are “increasingly willing to pay for their children to learn while having fun,” the Texas-based children education brand is one of several brands seeing an uptick in interest in one of franchising’s hottest categories.
I first became a business reporter in 2005, and it’s disconcerting seeing some of the same worrying trends both in the auto realm and also within the greater business community.