Northwest Arkansas Times from Fayetteville, Arkansas on April 16, 1969 · Page 15
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 15

Fayetteville, Arkansas
Issue Date:
Wednesday, April 16, 1969
Page 15
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I, MM., April 1«, 1M* · 11 Two Basic Requirement: Must Be Met If Chain Restaurants By JOHN CUNNIFF AP Business Anilyst NEW YORK (AP)-In launching a franchise enterprise, a type of business in which individual proprietors are licensed to sell a specialized product or service, two very hasic requirements must be met. First, the franchiser must be able to sell territories in which the purchaser, the franchisee, will have exclusive rights. Second, the franchisee then must be able to sell the product. At the moment, some celebrity-promoted franchises, particularly in quick service foods, are off to a fast start on requirement No 1. The big test, howev- «r. may still lie ahead. "Some companies are able to sell the franchises.' says Thomas Robinson, executive director of the International Franchise Association "but they couldn't careless what comes later." FAILURES There are instances of disturbing failures. Dr. Charles Vaughn, head of the Boston College Franchise Center, tells of one operation he was asked to reorganize. It involved two well-known mem- b«rs of political life and a cele brated entertainer. "The franchise director apparently sold the personages to prospective franchises. But when the franchisees tried to sell the products they could not." In fact, Vaughn says, they weren't even aware of the product to be sold. Vaughn believes that some franchising is very risky, but ttiat often the rewards are great. He compares some of them to oil investment syndicates in which money is collected even before beginning to drill the well. UNDERSTANDING RISKS In Vaughn's view there is little danger in some of the fast moving, celebrity-hacked franchises if people understand the risks, and so long as franchises are sold to people who can afford the risk. Once the franchises are sold, and in today's atmosphere that isn't too difficult, the question ol product acceptability becomes paramount. Some critics wonder if America can eat all the ·nndwiches and snacks and burgers. Thomas Marshall, president of Broadway Joe's Inc.. a franchiser of roast beef, shrimp anc hamburger restaurantes, is one who feels that not only is America's appetite devouringly large, but that America's time is increasingly scarce. . . "People don't have time to sil down and mash potatoes," he says. "Faster living means quicker eating. I don't think the franchises have even scratched the surface of this demand." SIMILAR ROLE The franchise food servers also have the notion that' the.\ are in the same role as the mo tel chains played a decade 01 two ago: that is. that inevitabb they will replace old fashionec mom-and-pop restaurants. When the big motel chains largely franchise operations, be gan dotting the leandscape the; brought with them an improve ment in accommodations, serv ice and food, and soon dominal ed the industry. The food fran chisors hope to do the same. A few questions remain to be answered, however, and among them are these: RESPONSIBILITY Can n celebrity with little per sonal invesment be as responsi ble as an ordinary business man? Just how much will tlv celebrity's name add to the at traction. And if the puhli "buys" the celebrity, will it also buy the celebrity's roast bee and onio rings? One of the main nth-actions o celebrities is to get the franchi sees off to big starts by appeal ing at openings. Singer Ton; Bennett, for instance, is expect cd to attend openings of Tom Bennett Spagheti Houses. This chain of low-priced, self service restaurants will feature a dinner for a family of four fo $5 or less. Included will he re corded Tony Bennett songs dur ing the day and musicians night. BEGINS IN TEXAS (The chain is now emerging from Houston, Tex., where its first unit is expected to be opened Aug. 1, with Bennett a- ending. Ray Kroc, chairman of McDonald's hamburger chain, omments that "food people are going to succeed in food and how business people in show tusiness." Lots of others, however, claim hat food franchisers using the lubliclty and acceptance of ce- ebrities are going to revolution- ze the restaurant business. The Arkansas Real Estate Association · sponsored amend nent to the license law was passed by the Legislature and signed into law April 7. Act 364, which will become Jffective on Jyly 7, 1969, requires that "Each applicant Tor an original broker's license shall, at the time of filing the application and as a pre requisite to taking the examina- :ion, file a certificate... stating hat tiie applicant has success hilly completed a course of in itruetion in the basic principles of real estate Broker applicants for the July Commission examination mus lave completed this course o instruction prior to applying. The Education Committee o the Arkansas Real Estate As sociation is offering a course .hat complies with this require ment during the week of Ma\ 1 8 - 2 3 . It will be held in Hot Springs at the Velda R o s Tower. Registrations will be accepted form now through May 18. The new amendment does not affect salesman applicants, who are still permited the one-year iwnus period in which to com ilcte the course. Business Notes THE MO ONI -WHIN AU AMIRKA SHOPS * SAVU Arkansas Western Gas Com sany's annual report for 1968 las been released to stock lolders of the company. Charles E. S c h a r 1 a u. Arkansas Western's president, said to day. The report states the con tinuing growth of Northwest Ar kansas, better heating weathe than in the previous year, and; the further development of its' Mountain Home properties were instrumental in bringing g a s sales to the highest level in the company's history. Gas sales for 1968 exceeded 15.1 billion cubic fee'i, which compared to the previous high of over 13.9 billion cubic feet. The company's earnings per share for 1968 were equivalent to 97 cents per share on 1,733,630 shares outstanding at the end of the year compared to 87 cents per share earned for 1967. As of Dec. 31, 1968. Arkansas Western was serving 47.780 customers compared to 46,187 at the end of 1967. Net additions to properties, plant, and equipment during 1968 were $2.219. 577 of which $1.079.924 was for its production and storage operations, $565,234 for transmission facilities, and o v e r $570,000 for distribution facilities and general expenses. Expenditures for gas production was primarily for the drilling of new wells. During the year, the company participated in the drilling of 11 wells, four of which were completed as producers. , Arkansas Western also c o m - j pleted construction of 7-'/2 miles' of 18 inch transmission line at a cost of $428,054. This transmission facility was the second stage of an 18 inch line extending northward from its g a s fields near Ozark to increase the deliverahility of gas to the northern portions of the Company's system. Arkansas Western's annual stockholders meeting will be held in Fayetteville on Friday, April 25. at 10 a.m. Buffalo Thieves NEW DELHI (AP) - Police here claim to have broken up a cattle thievery ring. Seven buf faloes worth nearly $2.000 were recovered. START SAVING FOR A HOME OF YOUR OWN passbook and ore at Fajrettevllle 4.75% at our current saTlnga wilh n now -ran more. Certificate* inquire aboil them. FAYmEVim BUILDING ind LOAN ASSOC. NOW IN PROGRESS Sale of summery dresses FOR WARD WiiK ONLY-EVERY «n AND »12 STYLE ON SALE IN THIS EVENT! NOW ONLY 9 "CHARM IT' AT WARDS · Pick juniors', misses', half sizes · Carefree, fresh new-foofc selection · Sryfet and fabric* for now-on wear You'll be dazzled by the variety and values! 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COTTON-NYLON STRETCH DENIMS 3 44 ·EGUUUtlY »S Finely tailored pants with adjustable waist tabs ... turquoise, coral, green, navy, brown.,.. misses' sizes 10 to 20. STRETCH DENIM JAMAICA SHORTS 2 97 REGULARLY '4 Cotton-ond-nyton stretch denim shorts with adjustable waist tabs. Turquoise, navy, green or white... misses' 10-20. "CHARGI IF ON WARDS CONVENIENT CHARO-ALL CRIMT HAN Save 33%! Lace bra for pretty curves Carol Brent" shaper with nylon lace cups; nylon- Lycra® spandex elastic. Adjustable stretch straps. A32-36;BC32-40.Hurryin! 2 66 REG. Pretty-soft dusters never need ironing! Save on fashion styles in silky-smoom"Potentia",del- kate yet durable Kodel* polyester-cotton blend. Latest cofcn; misses' S, M, L. 3 RIO. $» OPEN MONDAY-THURSDAY AND FRIDAY NIGHTS UNTIL 9:00 P.M.

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