You must deliver the customer experience on a consistent basis:
You will need the following training programs in place:
Marketing & Advertising Programs
You will need the following marketing and advertising programs:
Legal & Regulatory Requirements
You will need the following legal and regulatory requirements in place:
Acceptable Return on Investment
Is there the opportunity for an acceptable return on investment?
Your Company & Franchising
You must identify whether your company culture lends itself to a franchising model:
Products & Services
You must be able to supply products and services to your franchisees:
Competitive Franchise Offer
You must identify how competitive your franchise offer is:
You must consider how realistic your franchise expectations are:
You are embarking on a new exciting voyage, and in your initial optimism you might not anticipate the potential storms to come:
At some point your growth will plateau! Whether you hit this growth barrier at 10, 30, 60, or 90 operating units, the solution to achieving a breakthrough begins in asking the right question. We are tempted to ask the wrong question first, “How do I get my franchise system to grow?” The right question is, “What is preventing my franchise system from growing? What is my Achilles’ heel?”
It is essential to recognize your specific Achilles’ heel and take proactive measures to prevent plateauing. The five major Achilles’ heels to every franchisor are: Leadership, Management, Operational Performance (Franchisor/Franchisee), Administration, and Financial Management.
You need to think about your exit strategy. Will you sell the company, go public, leave it as a legacy for your children, hire a professional management team so you can retire, etc.? These are important decisions to be made before we can properly design your franchise company. You must keep the end in mind so that your franchise company is built on a foundation to achieve this goal.
There are a number of components essential to your success, growth, and profitability. More than likely you will delegate many of these; nonetheless, you maintain ultimate accountability. The following factors are necessary to build a solid base for a franchise company:
As your strategic partner in franchise system development, Franchise Growth Partners holds itself responsible to growing with you through novice, apprentice, journeyman to master-level CEO leadership skills.