QSR magazine:

Have you eaten at a quick serve recently and found the store looking tired and obviously in need of updating? Was the dining experience less than expected because the store was run down? The next time you were out for a meal, did you drive past that franchised store in favor of another chain with newer, cleaner facilities?

This is happening ever more frequently today. Stores built 10 or 20 years ago now need substantial updating, or even a scrape and rebuild, to compete with progressive chains. But getting franchisees to invest in updating can be a struggle. The Franchise Disclosure Documents may contain specific language stating when the update should take place, but most franchisors have no way to enforce it and franchisees have no way to pay for it.

Next to the initial costs of buying and setting up a franchised store, the largest expenditure will come when an update to the physical store is completed. We all know it»s not if, but when the store will need to be refreshed, remodeled, or rebuilt. The big question is how to finance the project. Read full article.

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