Where should franchising begin?
When people are interested in franchising a business they become fixated on the idea. That can be dangerous because emotions not facts can dictate decision making. Dreams of franchising are good, but they should be backed up with a sound reality check.
The right approach to franchising is a careful look at both the business and people behind it. It is an art and a science when done correctly.
Franchising a business and franchise feasibility
Prospective franchisors should conduct a serious feasibility study before moving forward. But unfortunately franchise feasibility is glossed over by too many owners and consultants. Worse yet, it may be totally overlooked or used by a consultant to sell their services. That type of behavior is not in our DNA. Feasibility must be an honest, hard assessment of the owner and their business. We take it seriously.
And here is one last warning. Successful entrepreneurs too often believe their success in business means they have the skills to successfully franchise. That is not true. Franchising is a unique industry with its own traps and pitfalls. Just because a person is successful in business does not mean they can build a successful franchise operation.
Any business can be franchised, but not every business should be franchised!
Serious prospective franchisors appreciate our thoughtful approach to decision making. We are not afraid to advise against franchising a business and we do that because we’re more interested in quality than a consulting fee. Choose an expert consultant who is interested in YOU not just a fee. Further, prospective franchisors can be blindsided by certain types of encouragement. Read this article. If you’re thinking about franchising your business, you’ll shake your head in agreement while reading. And last, with us you will not find a cookie cutter approach because franchising a business correctly requires individual attention. These client endorsements on the subject are testament to our concern and our approach. After careful study you (not a consultant) determine that franchising is the right course then a quality plan is necessary. Plan your work and work your plan is sound advice. Your strategic plan must be excellent or the loss of time, money and energy will overwhelm you and you will quit.
Franchisors need proper structure and organization
Organization and paperwork are important to all businesses. When franchising, the pieces must fit together perfectly. Not every employee is a good match for a franchise organization. We’ll help you understand the kind of talent you need to avoid relationship problems in the future.
The Franchise Disclosure Document (FDD)
Specific legal documents are required to comply with federal and state laws. They are the backbone of marketing and the franchise relationship. It is nearly impossible to get by with attorneys who are not franchise experts. Our attorneys are franchise experts.
Building the franchise network
When franchising a business, you reach your potential through the right mix of strategy, operations, marketing, training, support, relationships, and legal structure. Only when these elements are melded together will your franchise network grow and be strong. We will help you develop the best practices possible with these goals in mind.
New franchisors require mentoring just like franchisees
Successful franchising requires a great deal of problem solving after the franchise launch. If you’re spending time wrestling with problems that a mentor could help resolve then you are doing yourself and your franchisees a disservice. We’ll provide expert counsel so that you can sleep at night. Your franchisees need you for training and support in order to succeed. You need support as well and we will provide that. You’ll have a new friend who knows you and your business. One who has already been where you plan to go.
Making a comeback after franchising a business
After a franchise launch there can be stalling and disappointment. Age, planning, services, relationships and litigation are just a few problem areas. When management is fighting fires it is not able to focus on planning. There are three choices: jump ship, ride it down, or solve the problem with a new plan. If you choose the last option, we can help. We’ll do the triage, stop the bleeding and work out a new plan. This demands absolute commitment, but if you’re up to the task we’ll be there.
Strong franchise relationships are a must for a successful franchisor
Franchising can be hard on relationships. To say differently is a lie. One of the worst illnesses for a healthy concept is the onset of bad relationships. To fix the problem, calm must prevail and neutral ground has to be found where the parties can meet. We understand relationship counseling. Read this article on Franchise Relationships. Our message is cooperation not litigation. We are experts at analyzing franchise problems and we are a good alternative to litigation. If you are already franchising and are suffering bad relationships, you know it’s a nightmare. We can probably improve the situation if you are honest and willing.