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Entrepreneur Magazine

Entrepreneur Magazine January/February 2021

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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Country:
United States
Language:
English
Publisher:
Entrepreneur Media Inc.
Frequency:
Monthly
US$4.99
US$9.99
12 Issues

in this issue

6 min
the power of never stopping

When someone tells Kara Goldin why she can’t do something, she replies in the same way: “What can we do?” After all, something has to be possible! That attitude helped her turn her life around, and it led her to create the popular beverage brand Hint Water. As she writes in her new book, Undaunted: Overcoming Doubts and Doubters, the journey began after she left her job at AOL in 2001 and tried to improve her health. She struggled to kick a diet soda addiction, couldn’t find anything unsweetened in the marketplace that she liked, and set about building a lightly flavored, sugar-free water. Despite many manufacturing and retail challenges, she succeeded—and now, like in this conversation, she urges other entrepreneurs to approach their challenges “undaunted.” In your book, you write…

2 min
find time to not work

“This is a new but critical habit: I go to Central Park for a 30-minute walk every day. I put it in my calendar, and our executive assistant knows not to schedule over it. While I’m on the walk, I try not to focus on the immediate small things I need to get done. I’m outdoors, looking at the sky—it’s the time to think big, not small.” —SUSAN LYNE, cofounder and general partner, BBG Ventures “Every Friday, I allow myself two hours to hone in on a creative project that is not work-related. I could paint, bake, learn ceramics, anything. As a mom of two young kids, a CEO, and an investor, I rarely get time to myself. So this is when I can zone out and do some solo learning and…

1 min
listings key

Year began/franchising since This shows how long a company has been in business and how long it has been franchising. Both are good to know when you’re trying to decide whether you should go with an established system or a newer concept. Available U.S. regions and Seeking int’l.? Check out these columns if you want to know whether a franchise system is expanding in your area and whether a company requires franchisees to buy master licenses or multiple units. Number of franchises/Company-owned See a franchise company’s size and how quickly it’s growing. Here we list the numbers of franchises and company-owned units open and operating worldwide as of July 31, 2018, 2019, and 2020. (Units temporarily closed due to COVID-19 were counted as “open and operating.”) Startup costs/Franchise fee Look here for the total initial investment to…

2 min
3 the ups store

Started Franchising: 1980 Total Units: 5,268 Cost to Open: $137.8K–$566.6K THE UPS STORE’S timing couldn’t have been better. Four years ago, it started developing a system-wide redesign—and when that finally rolled out this past September, right in the throes of the pandemic, it proved the perfect fit for a socially distant world. “With our fresh look, we have an open floor plan, better workflow, more technology, and smart lockers that allow customers to access mailboxes any time of day or night,” says Tim Davis, president of The UPS Store. “It’s very appealing to customers in that it lends itself to cautionary measures.” The company’s foresight served it well throughout a tumultuous year. In January and February, while the coronavirus was taking hold in Asia and Europe, Davis and his team were already preparing for it…

8 min
work-from-home franchising for a work-from-home world

Jeff Yoder had been a creature of many offices. He spent two decades as a federal government contractor, but a tough 2019 prompted him to reevaluate his job. He wanted more freedom and started shopping for a franchise to buy—and eventually zeroed in on ShelfGenie, a brand that installs versatile shelving in people’s homes. He liked many things about it, including that most ShelfGenie franchisees operate out of their own homes. In other words, no more office. “That was huge to me,” says Yoder, who is based in Alexandria, Va. “I’m comforted by not having the overhead of thousands of dollars a month in rent as I’m starting a business.” His timing couldn’t have been better. Yoder opened his new business in April, just as the pandemic was taking hold. As lockdowns…

6 min
one restaurant, eight brands

When Dog Haus launched in 2010, its concept made a lot of sense…for the year 2010. Its mission was to elevate stadium food into culinary masterwork, and it did so by selling dogs and sausages decorated with ingredients such as bacon, pastrami, caramelized onions, and arugula. The three founders, Hagop Giragossian, Quasim Riaz, and André Vener, dubbed their concept “craft casual,” and they built fun, large, airy venues to serve customers. Dog Haus has grown to 50-plus locations since franchising. But in the decade since, much has changed with how Americans eat. People increasingly order food through Grubhub or Uber Eats. Dog Haus responded by expanding its reach through ghost kitchens—delivery-only facilities with no seating, parking, or signs. Then, when the pandemic hit, foot traffic dropped even more—and the ghost kitchens…