Latest news with #franchisees
ABC News
2 days ago
- Business
- ABC News
ASIC sues Westpac's RAMS over alleged systemic misconduct writing home loans
Corporate regulator ASIC has sued RAMS, alleging it engaged in systemic misconduct when arranging home loans. ASIC has accused the now-defunct Westpac brand of breaching its obligations under credit laws and engaging in "widespread unlicensed conduct" between June 2019 and April 2023. The allegations include that RAMS staff submitted fake pay slips as part of mortgage applications, and altered customers' debts and expenses so they would meet loan serviceability requirements. RAMS was owned by Westpac, which announced in August 2024 it would shut the RAMS brand and absorb its home loans into the broader group. "RAMS allowed years of unlawful conduct to occur across its franchises, creating the opportunity for loans to be provided to customers who otherwise may not have qualified for those loans, and thereby increasing commissions earned by RAMS franchisees." RAMS has admitted liability for the contraventions and remediated customers who were negatively affected by the misconduct.
CNN
3 days ago
- Business
- CNN
The McDonald's Snack Wrap is returning next month
McDonald's is bringing back a long-requested, cult favorite food item: the Snack Wrap. 'It's back,' the company said in a two-word statement Tuesday, echoing the words of another Chicago symbol, Michael Jordan, in his NBA comeback fax. The wrap will return to McDonald's menus on July 10 as the company struggles to turnaround a sluggish start to the year. It's a simple formula: Chicken, lettuce, cheese and a tortilla. The fast food giant removed Snack Wraps from its lineup in 2016 after franchisees reportedly complained they were too complicated to make. However, some locations continued to serve the wraps until 2020 when McDonald's eliminated the item completely. The opening in the snack wrap market allowed competition to jump in, such as Wendy's grilled chicken ranch wrap in 2023 (at the time, its global chief marketing officer told CNN the chain 'didn't want to mess around with a McBland snack wrap dupe.') But fans never forgot the original Snack Wrap. A petition to bring the item back to menus has almost 19,000 signatures, with fans signing on as recently as two months ago. 'To my beloved McDonald's Snack Wrap… you were the ideal snack, the perfect meal on the go, the comfort food I didn't know I needed until you were gone. McDonald's, why did you take away such perfection?' one petitioner commented. A rush of fans clamoring to get their hands on a returning favorite could provide a much-needed boost for McDonald's. In May, the restaurant chain reported a sales decline for the second straight quarter – its worst loss since Covid – as customers pulled back spending on purchases like eating out as they feel shaky about the economy. So McDonald's is going all out with the Snack Wrap hype. The company posted a more than 350-word X post, allegedly penned by a social media manager who 'made 486 decks on 'reasons why to bring back the Snack Wrap.'' Regardless if the post is entirely true, it did underscore how dedicated the fanbase is toward the Snack Wrap. 'Your endless comments, tweets, and posts were the fuel i needed to keep on going,' the post said. 'you created a movement.' CNN's Jordan Valinsky contributed to this report.
CNN
3 days ago
- Business
- CNN
The McDonald's Snack Wrap is returning next month
McDonald's is bringing back a long-requested, cult favorite food item: the Snack Wrap. 'It's back,' the company said in a two-word statement Tuesday, echoing the words of another Chicago symbol, Michael Jordan, in his NBA comeback fax. The wrap will return to McDonald's menus on July 10 as the company struggles to turnaround a sluggish start to the year. It's a simple formula: Chicken, lettuce, cheese and a tortilla. The fast food giant removed Snack Wraps from its lineup in 2016 after franchisees reportedly complained they were too complicated to make. However, some locations continued to serve the wraps until 2020 when McDonald's eliminated the item completely. The opening in the snack wrap market allowed competition to jump in, such as Wendy's grilled chicken ranch wrap in 2023 (at the time, its global chief marketing officer told CNN the chain 'didn't want to mess around with a McBland snack wrap dupe.') But fans never forgot the original Snack Wrap. A petition to bring the item back to menus has almost 19,000 signatures, with fans signing on as recently as two months ago. 'To my beloved McDonald's Snack Wrap… you were the ideal snack, the perfect meal on the go, the comfort food I didn't know I needed until you were gone. McDonald's, why did you take away such perfection?' one petitioner commented. A rush of fans clamoring to get their hands on a returning favorite could provide a much-needed boost for McDonald's. In May, the restaurant chain reported a sales decline for the second straight quarter – its worst loss since Covid – as customers pulled back spending on purchases like eating out as they feel shaky about the economy. So McDonald's is going all out with the Snack Wrap hype. The company posted a more than 350-word X post, allegedly penned by a social media manager who 'made 486 decks on 'reasons why to bring back the Snack Wrap.'' Regardless if the post is entirely true, it did underscore how dedicated the fanbase is toward the Snack Wrap. 'Your endless comments, tweets, and posts were the fuel i needed to keep on going,' the post said. 'you created a movement.' CNN's Jordan Valinsky contributed to this report.
Entrepreneur
3 days ago
- Business
- Entrepreneur
What I Learned From my First Major Crisis as a CEO
Facing the first major crisis of my career as a CEO, I learned how transparency, empathy and decisive leadership can turn a failing market into a thriving one. Opinions expressed by Entrepreneur contributors are their own. When you take on the CEO role, you expect to face challenges, strategic pivots, competitive pressures, maybe even a recession or two. But nothing quite prepares you for your first real crisis. That moment came early in my tenure and centered around a well-defined, heavily populated market. What unfolded there was a lesson in resilience, strategic decision-making and the importance of protecting the people who count on you most. At the time, one of our largest geographic territories was struggling. Once a solid and reliable region, it began showing signs of serious distress. We started hearing concerns from franchisees. Clients weren't renewing contracts. Revenue was in decline. And behind the scenes, we uncovered signs of operational disarray, financial mismanagement and other issues that could impact our entire brand. It was a deeply difficult situation. The individual leading the market had built strong relationships and had been a part of our system for many years. But the market was in crisis, and it became clear that we had to step in – not just to stabilize the business, but to protect the franchisees who were left without proper support and the clients who depended on consistent service. Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget. No playbook After extensive discussions with legal counsel, our executive team and trusted advisors, we made the difficult but necessary decision to step in and assume control of the market to preserve the brand, our clients and the long-term interests of the system. We absorbed operations and started over without existing contracts or revenue streams. That meant accepting a 50% loss of business in the short term. But it was the only way to re-establish trust, clean up the financial wreckage, and provide a stable foundation for our franchisees to rebuild. We initiated an all-hands-on-deck client outreach campaign, personally visiting accounts, listening to grievances and assuring them of a renewed commitment to service. Internally, we worked closely with franchisees, many of whom felt betrayed and blindsided. Restoring their confidence was as critical, if not more so, than restoring revenue. We didn't just ask for their trust, we earned it, day by day, through transparency, reliability and responsiveness. Related: Big Government Changes Are Coming for Small Businesses — What You Need to Know One year felt like a decade There were moments when it seemed like the weight of the situation might tip us over. But leadership means staying grounded when the ground feels shifting beneath your feet. It means balancing compassion with accountability and not being afraid to make hard decisions when they're the right ones. Eventually, a new opportunity emerged. We signed a new Master Franchise owner who was a driven, entrepreneurial leader with a passion for excellence and a deep respect for franchise operations. After a year of stabilizing the market, we entrusted it to him, and that moment marked the beginning of something extraordinary. Under new leadership, that territory became a powerhouse within our franchise system. The turnaround didn't just prove the model works — it raised the bar for what's possible. The new owner turned adversity into acceleration and helped write a new chapter in Anago's story of resilience and reinvention. Looking back, that crisis taught me more about leadership than any business school case study ever could. It forced me to grow — and fast. It showed me the importance of empathy in decision-making, the value of acting decisively in moments of uncertainty and the power of a strong team rallying behind a shared mission. Every CEO has their moment, the one that tests your resolve and defines your leadership. This moment was mine. Related: I'm CEO of an International Commercial Cleaning Franchise. Here's How I've Turned My Failures Into Fuel for Success. Lessons learned Navigating a franchise crisis requires more than quick decisions — it demands thoughtful, values-driven leadership. These are the core lessons I took away from one of the most difficult chapters of my career, each of which helped guide our brand from instability to strength. 1. Compassion and Accountability Must Coexist - Crisis leadership demands empathy and action. Acknowledging the former owner's personal issues did not excuse the need for swift corrective measures to protect franchisees and the brand. 2. Sometimes You Have to Start Over to Move Forward - Rebuilding without the weight of bad contracts or legacy baggage (despite a 50% business loss) created space to restore stability. 3. Transparency Rebuilds Trust - Open, honest communication with clients and franchisees proved essential to weathering the storm and regaining confidence in the brand. 4. Invest in Your Franchisees - By working side-by-side with franchisees, we retained its local presence and built a stronger, more resilient regional network. 5. The Right Leadership Changes Everything - Placing the right person in charge — someone with drive, discipline, and vision — can transform a troubled market into a model of success. Related: This College Student Pitched His Parents a Business Idea. Now, He Runs a $7 Million Ice Cream Brand.
Hospitality Net
29-05-2025
- Business
- Hospitality Net
Everhome Suites Continues To Grow Its National Footprint With Nine New Openings And Groundbreakings Across Texas, Arizona, Oregon, And Ohio
Everhome Suites, the midscale extended stay brand from Choice Hotels International, Inc. (NYSE: CHH), continues to grow its nationwide footprint with the opening of six new properties, and three ground breakings in Texas, Oregon, and Ohio. The brand's growing traction across Texas, coupled with the addition of the Salem, Oregon and Yuma, Arizona locations, highlights Everhome Suites' continued success meeting demand for purpose-built, extended stay accommodations across the U.S. Choice Hotels now has 14 Everhome Suites open, 19 under construction and more than 60 in the pipeline. The brand is on track to have nearly 25 hotels open by the end of the year. From Texas and Arizona, to Oregon and Ohio, we're seeing strong developer interest in Everhome Suites and consistent demand for midscale extended stay accommodations. Our latest openings reflect our commitment to delivering long-term value for franchisees while giving guests more options in fast-growing, strategically located markets. Ron Burgett, Senior Vice President, Extended Stay Development, Choice Hotels The newly opened and under-construction hotels—were developed with longtime collaborators of Choice Hotels, Highside Companies. We continue to see strong demand and resilience, coupled with limited new supply in the extended stay landscape. Launching these new Everhome Suites properties, a brand that provides a refined and favorable operating model, while exceeding guests expectations, demonstrates Highside Companies' continued dedication to extended stay hospitality, as well as our ongoing strategic collaborations with Choice Hotels. Justin Roberts, CEO of Highside Companies The hotel details are as follows: Texas Everhome Suites Bastrop , TX opened in February 2025. Located at 630 Agnes Street, the 114-room property is situated near natural attractions such as Lake Bastrop and McKinney Roughs Nature Park, and benefits from proximity to high-profile employers including SpaceX, Starlink, and The Boring Company. The hotel also sees traffic from events at the Circuit of the Americas and the Bastrop Convention Center. , opened in February 2025. Located at 630 Agnes Street, the 114-room property is situated near natural attractions such as Lake Bastrop and McKinney Roughs Nature Park, and benefits from proximity to high-profile employers including SpaceX, Starlink, and The Boring Company. The hotel also sees traffic from events at the Circuit of the Americas and the Bastrop Convention Center. Everhome Suites Waco , TX opened in March 2025. Located at 4301 S Jack Kultgen Expressway, this 122-room hotel caters to a diverse demand base, including travelers connected to Baylor University, leading regional hospitals such as Baylor Scott & White Medical Center, Ascension Providence, and Baylor Scott & White McLane Children's Medical Center, as well as a variety of manufacturers and development facilities such as AbbVie, Space X, L3Harris, and Mars Wrigley. The property's central location between Austin and Dallas makes it a key link in Texas's high-traffic corridor. , opened in March 2025. Located at 4301 S Jack Kultgen Expressway, this 122-room hotel caters to a diverse demand base, including travelers connected to Baylor University, leading regional hospitals such as Baylor Scott & White Medical Center, Ascension Providence, and Baylor Scott & White McLane Children's Medical Center, as well as a variety of manufacturers and development facilities such as AbbVie, Space X, L3Harris, and Mars Wrigley. The property's central location between Austin and Dallas makes it a key link in Texas's high-traffic corridor. Everhome Suites Brownsville , TX opened in April 2025. Located at 3215 Galeno Crossing, the 122-room hotel is positioned to support the booming economic activity at the Port of Brownsville, the nearby $16 billion LNG terminal project, and SpaceX's Starbase, the largest private employer in the area. The property is also near the region's leading healthcare facilities such as Valley Regional Medical Center, Valley Baptist Medical Center, and Brownsville Community Health Center, as well as South Padre Island, a popular beach destination. . opened in April 2025. Located at 3215 Galeno Crossing, the 122-room hotel is positioned to support the booming economic activity at the Port of Brownsville, the nearby $16 billion LNG terminal project, and SpaceX's Starbase, the largest private employer in the area. The property is also near the region's leading healthcare facilities such as Valley Regional Medical Center, Valley Baptist Medical Center, and Brownsville Community Health Center, as well as South Padre Island, a popular beach destination. . Everhome Suites El Paso , TX opened in April 2025. Located at 10740 Montana Ave, this 122-room hotel is ideally positioned to serve business and military travelers with nearby access to Fort Bliss, White Sands Missile Range, and major defense contractors like Raytheon, Honeywell, and BAE Systems. The property also serves healthcare and education professionals and travelers with its proximity to Del Sol Medical Center, University Medical Center, William Beaumont Medical Center, and Texas Tech University Health Sciences Center. opened in April 2025. Located at 10740 Montana Ave, this 122-room hotel is ideally positioned to serve business and military travelers with nearby access to Fort Bliss, White Sands Missile Range, and major defense contractors like Raytheon, Honeywell, and BAE Systems. The property also serves healthcare and education professionals and travelers with its proximity to Del Sol Medical Center, University Medical Center, William Beaumont Medical Center, and Texas Tech University Health Sciences Center. Everhome Suites Amarillo, TX will open June 2025. Located at 11 Care Circle, the 114-room hotel will service the regional medical hub — with more than 1,000 hospital beds within a half-mile radius of the property, at Baptist St. Anthony, Northwest Texas Healthcare, Amarillo Veteran Affairs Healthcare and Vibra Hospital of Amarillo. The hotel will also serve educational facilities such as Texas Tech Health Sciences Center and School of Veterinary Medicine, and various agricultural and livestock manufacturing facilities such as Tyson Foods. will open June 2025. Located at 11 Care Circle, the 114-room hotel will service the regional medical hub — with more than 1,000 hospital beds within a half-mile radius of the property, at Baptist St. Anthony, Northwest Texas Healthcare, Amarillo Veteran Affairs Healthcare and Vibra Hospital of Amarillo. The hotel will also serve educational facilities such as Texas Tech Health Sciences Center and School of Veterinary Medicine, and various agricultural and livestock manufacturing facilities such as Tyson Foods. Everhome Suites Georgetown, TX broke ground in March 2025 and is scheduled to open in September 2026. Located at 301 N Interstate Highway 35, this 115-room hotel is strategically situated to serve the rapidly expanding Austin metro. Surrounded by leading employers in the microchip, EV, and AI sectors—including Samsung, and ZT Systems—the property will also benefit from proximity to Southwestern University, Texas State University – Round Rock, and top medical facilities undergoing multimillion-dollar expansions. Arizona Everhome Suites Yuma, AZ will open July 2025. Located at 2011 E 18th St., the 122-room property is positioned to support military travelers with nearby access to MCAS Yuma, the largest Marine Corps aviation installation in the world. Additionally, the property will serve medical travelers with its proximity to Yuma Regional Medical Center, and various other business-focused guests as a result of the San Luis Port of Entry and various agricultural support facilities. The property will also benefit from a significant influx of seasonal tourism during the winter months. Oregon Everhome Suites Salem, OR broke ground in April 2025 and is slated to open in the third quarter of 2026. Located at 4370 Commercial St SE, this 114-room hotel expands the brand's presence into the Pacific Northwest, offering convenient access to local healthcare institutions such as Salem Hospital, and state agencies including the Oregan Department of Administrative Services, Oregon Health Authority, and Oregon Department of Human Services. Salem also has popular spots for outdoor recreation like Minto-Brown Island Park, Bush's Pasture Park, and the Ankeny National Wildlife Refuge. Its central location is designed to serve travelers connected to Oregon's capital city, whether for business, government, or extended family visits. Ohio Everhome Suites Dayton, OH will break ground June 2025 and is scheduled to open in the first quarter of 2027. Located at 7030 Miller Lane, the 114-room hotel is strategically positioned just off the I-75 and I-70 interchange—one of the region's busiest travel hubs. The property is well suited to serve highway travelers, military personnel, healthcare professionals, and corporate travelers with convenient access to the Dayton International airport, Wright-Patterson Air Force Base, Dayton Children's Hospital, and Emerson Climate technologies. Everhome Suites provides all the comforts of home with fully equipped kitchens, spa-style bathrooms, spacious closets, premium one-bedroom suites with in-room washer and dryer, locally inspired touches, weekly housekeeping, free WiFi, pet-friendly options, multipurpose lobby, outdoor amenities like barbeque grills and firepits, tech-enabled Homebase Market, 24/7 fitness center with Peloton bikes, and guest laundry facilities. Choice Hotels offers dedicated tools and resources for the extended stay segment, including for developers, the Choice Maps platform, which uses AI to identify high-demand markets. Also provided are specialized sales, revenue management, marketing, and operational support including the choiceEDGE reservation platform and choiceADVANTAGE, the property management system that helps manage room rates, distribution channels, and inventory effectively.
