The Board of Directors of the DD Independent Franchise Owners (DDIFO) has officially named Jim Coen president of the organization, elevating him from interim to full-time status. Board chairman Kevin McCarthy said, “DDIFO is indeed fortunate to now officially have Jim Coen as our President. Jim brings unrivalled enthusiasm, creativity, integrity and common sense to this vital position. We all look forward to Jim now leading DDIFO well into the 21st century and making DDIFO a major positive force in the franchising industry.”Read More »
Emily Maltby reports at CNNMoney that struggling small businesses got their first shot at debt relief this week, through a long-anticipated emergency loans program. The Small Business Administration says that in the first week of the program, which kicked off last Monday, lenders approved 72 loans totaling $2.4 million. While the SBA is pleased with the numbers, business owners who have been waiting months for the loans remain discouraged.Read More »
BusinessWeek reports that getting credit to small business owners is Job One for former venture capitalist Karen G. Mills, who was confirmed as Administrator of the Small Business Administration in April.Read More »
Roger Vincent and Andrea Chang report in the LA Times that the 7-Eleven convenience store chain says it will add 600 stores over the next seven years, a move that could save it millions because of the weak commercial land market. In a move that could nearly double its Southern California footprint, the 7-Eleven convenience store chain is taking steps to lease up to 600 new locations in the region.Read More »
The House passed legislation that provides $848 million in funding for the Small Business Administration next year, $69 million more than requested by the Obama administration. Combined with funds provided to the SBA through the economic stimulus package, the appropriations would restore the agency’s budget to almost what it was before President George W. Bush took office, said Rep. Nydia Velazquez, D-N.Y., chairwoman of the House Small Business Committee.Read More »
Emily Bryson writes in Crains Chicago and AdAge that Starbucks Coffee Co. appears to be coming out of freefall — thanks, in part, to marketing by McDonald’s. In a third-quarter-earnings call Tuesday afternoon, Starbucks CEO Howard Schultz credited margin improvements, cost savings and attention brought to the category by its rival’s big-budget McCafe launch with helping to improve Starbucks’ same-store sales.Read More »
Kenneth Hein writes in Brandweek that while launching a premium coffee line smack in the middle of a recession may seem counterintuitive, the debut of McCafe helped drive McDonald’s second quarter sales.
The chain announced a comparable U.S. sales increase of 3.5 percent and a 4.8 percent spike globally. CEO Jim Skinner, in a statement, gave credit to the chain’s “balanced focus” on favorites like the Big Mac, beverage value offerings and the McCafe launch.
Rebecca Piscopo reports in the Selma News that a Dunkin Donuts will open in Selma, next to Exxon on 446 U.S. Highway 70 E., in November. Smithfield Dunkin Donuts business owner Parth Patel said the Selma site is perfect because it is located off of Interstate 95.Read More »
Dunkin’ Donuts said it is introducing the “Oven-Toasted Chicken Parmesan Flatbread Sandwich” to its all-day menu, but the new item will not be immediately available in New England stores. At the Canton-based coffee-and-baked-goods chain, the Tao of chow for the company’s food scientists is delivering convenience in a hand-held cuisine format.Read More »
Josh Kosman and Holly Sanders Ware report in the New York Post that Dunkin’ Brands’ aggressive growth plan has some holes. The doughnut chain is pushing ahead with a plan to open hundreds of stores this year to meet growth targets despite a rash of franchisee bankruptcies and a near freeze in restaurant financing.Read More »