Professor McDonnell has written extensively on such sports topics as revenue sharing, luxury tax, franchise management and player development.
But now cash-strapped consumers are often less willing to shell out for extras like French fries and fountain drinks -- items which traditionally receive a lofty markup, says Evan Hackel, a franchise management consultant in Reading, Mass.
The new timeshare company will be positioned to expand faster over time while Marriott International will further advance its longstanding strategy of separating real estate from management and franchise operations.
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He quit in 1996 to start fixing four decades of bad management at the franchise--all of it largely the work of his father, William V.
Grieco, founding general manager of Hearth restaurant in the East Village and the Terroir wine-bar franchise, is what the management theorists would call a disruptive force.
They needed a franchise that was a partnership between players, management, and supporters.
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In addition to your own management skills, selecting the right franchise opportunity can be equally important, especially given the initial investment to buy a franchise.
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Mr. Meiyappan also is linked to the management team of the Chennai Super Kings IPL franchise, which is scheduled to play in the tournament final on Sunday.
"Without further management clarity, we fear that AIG's franchise could become impaired by the market sell-off as customers become increasingly concerned regarding the company's financial health, " Haines wrote in a note Tuesday.
"We believe that this important reorganization of our key business units will help us raise our operating leverage across the firm and realize the full potential of Morgan Stanley's great franchise, " Purcell said in a statement announcing Monday's management changes.
That's 240 per year. (McDonald's counters that it has lost just 90 franchisees in 2002, many for innocuous reasons like retirement.) Cold comfort for anxious franchisees: While 30% of all restaurants fail within the first year, just 8% of brand-name franchise locations go under, says Christopher Muller, associate professor of restaurant management at the University of Central Florida who studies franchises.
The hotel operators collect management fees, typically 3% to 5% of the revenue, plus franchise fees, which can run another 5% to 11%.
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