What makes a franchise successful?
What makes a franchise successful?
Companies looking to branch out into franchising must ensure that they have a strong team in place with some of them having had experience in the franchising industry.
This will enable the franchiser to be able to structure and market itself in a way to quickly attract franchisees to the business.
As many potential franchisees carry out research of the company, it is essential for franchisers to have a secure financial base and a record of spending money to help develop parts of the business that need improving.
Substantial funds are required to provide the training programmes, support systems and in some cases much of the stock that franchisees need.
Not only will this investment make it more likely that the best people wanting to become franchisees will choose to work for the company, it will help them to make a good job of their own franchise.
Once in operation, the reputation of the franchiser will be vital for it being able to continue to attract good franchisees.
It should be in contact with franchisees at regular intervals, ideally through a structured franchisee advisory committee, to ensure any problems are dealt with quickly and that the business structure is being properly carried out.
In addition, there should be regional and national meetings so that franchisees can network with each other and any new franchise developments can be explained to one large group, instead of having to do it individually.
The franchiser must ensure that it complies with all regulations, in particular concerning the sale of a franchise to another person, as departing franchisees should know exactly what they can and cannot do and new franchisees should be aware of everything in the franchise agreement.
If all this is in place, then franchisees will have a great platform to succeed. However, there are no guarantees and they must make sure they are able to carry out all necessary duties.
They must also be in contact with the franchiser on a regular basis to discuss the franchise's development and problem issues.
The franchise costs must be constantly checked and administration needs to be up-to-date so that franchisees know how much extra stock and staff they can handle at a certain time.
Similarly, as franchisees are in charge, they need to be responsible for having a good daily structure in place to ensure time is not wasted, which includes planning ahead for new developments and seasonal factors.
They also need to be able to market the business effectively, through local publications, flyers and talking to people face-to-face, with the results used effectively to change things in order to attract more customers.
What makes a franchise successful - To learn more about this author, visit Diarmuid Kieran's Website.
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Both franchisers and franchisees need to have a number of aspects in place if they are to achieve their goals.
Companies looking to branch out into franchising must ensure that they have a strong team in place with some of them having had experience in the franchising industry.
This will enable the franchiser to be able to structure and market itself in a way to quickly attract franchisees to the business.
As many potential franchisees carry out research of the company, it is essential for franchisers to have a secure financial base and a record of spending money to help develop parts of the business that need improving.
Substantial funds are required to provide the training programmes, support systems and in some cases much of the stock that franchisees need.
Not only will this investment make it more likely that the best people wanting to become franchisees will choose to work for the company, it will help them to make a good job of their own franchise.
Once in operation, the reputation of the franchiser will be vital for it being able to continue to attract good franchisees.
It should be in contact with franchisees at regular intervals, ideally through a structured franchisee advisory committee, to ensure any problems are dealt with quickly and that the business structure is being properly carried out.
In addition, there should be regional and national meetings so that franchisees can network with each other and any new franchise developments can be explained to one large group, instead of having to do it individually.
The franchiser must ensure that it complies with all regulations, in particular concerning the sale of a franchise to another person, as departing franchisees should know exactly what they can and cannot do and new franchisees should be aware of everything in the franchise agreement.
If all this is in place, then franchisees will have a great platform to succeed. However, there are no guarantees and they must make sure they are able to carry out all necessary duties.
They must also be in contact with the franchiser on a regular basis to discuss the franchise's development and problem issues.
The franchise costs must be constantly checked and administration needs to be up-to-date so that franchisees know how much extra stock and staff they can handle at a certain time.
Similarly, as franchisees are in charge, they need to be responsible for having a good daily structure in place to ensure time is not wasted, which includes planning ahead for new developments and seasonal factors.
They also need to be able to market the business effectively, through local publications, flyers and talking to people face-to-face, with the results used effectively to change things in order to attract more customers.
What makes a franchise successful - To learn more about this author, visit Diarmuid Kieran's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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