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Entrepreneur Magazine

Entrepreneur Magazine January/February 2020

Entrepreneur magazine is the trusted source for growing your business and offers surefire strategies for success. Whether you are just thinking of starting a business, have taken the first steps, or already own a business, Entrepreneur offers the best advice on running your own company

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United States
Entrepreneur Media Inc.
12 Issues

in this issue

2 min
2 taco bell

STARTED FRANCHISING TOTAL UNITS COST TO OPEN WHEN TREA TURNER stole second base in the World Series this fall, it was tacos on the house for everyone in the country. As part of an annual Taco Bell promotion (the brand calls it “Steal a Base, Steal a Taco”), the freebies sent America a subtle reminder that, yes, the chain faces increasing competition in the crowded Mexican fast-food market it created, but no, you can’t beat it on value—just try. If America got a little pudgier that Wednesday, Taco Bell itself has continued to grow in every direction, including two notches higher on our list. Sales were up 6 percent, to $11 billion, in 2018, and as of third quarter 2019, year-to-date same-store and overall sales were up 5 and 8 percent, respectively. Driving the growth,…

2 min
getting a good start

Morning Veggies “I recently began drinking celery juice every morning. It’s known for its healing benefit, and especially in colder weather, it has alleviated my dry skin and helped increase my energy level.”—BILL GLASER, cofounder and CEO, Outstanding Foods Facts and Figures “I started putting on CNBC every morning. It gives me a more macro-level understanding of everything happening in the current global marketplace, which really helps me to make more informed decisions at the micro level for Pura Vida.”—GRIFFIN THALL, cofounder and CEO, Pura Vida Bracelets Home Brew “I stopped buying my Americano on the way to the office and instead wake up a little earlier and make it at home with a Bialetti espresso maker. The ritual gives me 10 minutes to prepare for the day.”—LISA BUBBERS, cofounder and CMO, Studs Sports Talk “I listen…

8 min
restaurant rescue?

As host of the television show Bar Rescue, Jon Taffer shows up to fix other people’s restaurants. Now he’s also looking at the casual-dining sector more broadly, and he sees signs of trouble: “They’re dinosaurs,” he says of many brands that have been around for decades, “and I think they’re facing extinction. All the Uber Eats in the world can’t bail them out.” His diagnosis: rising labor costs, plummeting meal prices, and an economy in flux. That’s why starting this year, Taffer plans to spend a lot of time in restaurants of his own. He’s launching a new franchise restaurant concept called Taffer’s Tavern, which is designed for efficiency—with minimally staffed, robotic kitchens cooking vacuum-sealed food, and data-driven decisions everywhere. The first unit is expected to open in Atlanta in…

1 min
5 the ups store

STARTED FRANCHISING TOTAL UNITS COST TO OPEN THE UPS STORE can thank dissatisfied customers for its recent success—though, of course, we’re not talking about its own customers. “About a third of online purchases are returned,” says Tim Davis, president of The UPS Store. “And that’s become a very attractive business segment for us.” To cash in on the returns of dissatisfied e-commerce companies, UPS has signed deals to be the official return courier for several major retailers. (Davis won’t say exactly which ones.) The UPS Store is also under contract to ship hardware, such as cable boxes, back to utility companies when customers are done using them. “We’re reducing the touch points in the return process,” says Davis. Tapping into predictable shipping helped drive a net gain of 104 UPS Stores in 2018. But that…

9 min
the way of the wahlberg

Hollywood movie premieres tend to follow a script: Tons of press and industry VIPs pile into a theater for a private screening and then migrate somewhere nearby for a blowout party. I was part of this scene in 2010, when the Mark Wahlberg movie The Fighter debuted. We watched the film, then went to a hip hotel, where elevators were to take us to a club on the top floor… except the hotel lobby was not equipped to handle all of us at once. Hundreds of people soon overwhelmed the place. We were crushed together, shoulder to shoulder, while a few measly elevators took small bunches of us upward. It took a while. People were annoyed. Then we heard a booming voice. “Make way!” the voice shouted. “Make way!” The voice, it…

2 min
4 sonic drive-in

STARTED FRANCHISING TOTAL UNITS COST TO OPEN ON NOVEMBER 20, 1953, pilot Scott Crossfield took a Douglas Aircraft Skyrocket up over the dusty California desert, blasting through the sound barrier and setting a world record that helped usher in the space age. That same year, the first Sonic Drive-In opened in Shawnee, Okla. Its slogan: “Service at the Speed of Sound.” Today, nearly seven decades and 3,600 restaurants later, the company is sonically booming in another direction—this time, into the era of machine learning. “We’ve heard from our guests,” says Sonic president Claudia San Pedro. “They still want us to be fast, but they also want their favorite customized food.” So through a partnership with Mastercard, Sonic is piloting an AI-powered car-side menu board that updates its offering in real time based on the customer,…