Tom’s Franchise Information Blog

Franchise consultants have expert knowledge on franchise practices, principles and philosophy. They specialize in growing and advancing small and medium sized businesses and can formulate professional and sound business strategies and goals. They are highly familiar with sales systems, management information systems, audit programs, training manuals, operations manuals, franchise marketing and every other aspect of running a franchise business. For these reasons, it would be smart to have a franchise consultant with you before you sign any contracts.

Franchise consultants are in such high demand because the franchising industry has become so common and widespread. Each year, industries are applying franchising growth strategies. Franchising has been prevalent amongst the food service and retail businesses, but is showing significant growth within many other industries, including the information technology, water purification, health care, education and steel fabrication industries. Bringing an experienced franchise consultant in on your business discussions and decisions can help you in all stages of your franchise’s growth. One of the most important decisions you’ll make as a business owner is choosing to hire a franchise consultant.

It can be a daunting task trying to decide what might be the ideal franchise opportunity for you because of the overwhelming array of choices and industries. Franchise consultants can help you narrow your focus and assist you in making the right decision and pick a business that suits your personality and strength. A franchise consultant will analyze all options and offer a fresh perspective on them. They can determine whether your investment into a certain business would be a lucrative and successful expansion of the franchisor.

Financial consultants can help you formulate a strategy toward the expans (more…)

A Business Franchise is an ideal option to take if you’re looking to increase brand awareness through licensing to other business owners. The advantage of this is you have more money to spend on marketing and advertising campaigns from your licensing fees.

The objective of the retailer is to house, display and sell, products and services and and make a profit from it. This is why good franchisors will train them in business skills and sales techniques - so they can represent their brand as well as the franchisor has done.

Firstly, you need to research your business’s franchise potential. Today, there are software packages that help you research your own company’s structure as potential franchise opportunities. Aspects of franchising covered; include choosing your model packaging your offer, drafting your disclosure document, developing your customized operations manual. This research should be conducted before you seek engagement of a consultant as it can help you save on consultation fees.

Your company must demonstrate that its product or service will generate consistent customer demand, as well as thrive in the proposed markets and locations. Franchise Feasibility Criteria:

� The areas of development within the organisation that is required.

� Assessment of the competition and relative brand positioning

� Assessment of the company’s time and support commitment

� Determining whether the company has the characteristics that would support successful franchising

� Estimation of the necessary financial performance, position and cash flows of each major stakeholder in the proposed Business Franchise.

Ultimately, the primary objective of the brand owner is to ensure the franchisee is taught the optimal operation guidelines of the Business Franchise for continued profitability and branding (more…)

The ancient saying goes something like this, “Do not deprive the body of its members.”

All for one . . . one for all?

Good advice for franchisors and franchisees, particularly in troubled economic times. Many franchisors and franchisees continue to approach today’s challenges as they did in the good ole’ days (meaning just months ago, and not centuries ago). Out of habit, they seem to think that for one to win someone (or many) must lose. That kind of thinking shouldn’t ever exist in franchising, but of course it does by human nature.

Does it make sense to threaten?

As an example, one franchisor recently threatened its franchisees by telling them via the company’s blog that they were commencing with audits and “that should strike fear into any franchisee that is failing to (pay royalties).”

Amazingly, the franchisor continued, “You have been warned.”

Where’s the common sense?

What was that franchisor thinking? Or perhaps: Not thinking!

Does it ever make sense to “strike fear” in franchisees? Or, for that matter, franchisors?

Aggressiveness like this occurs only because someone has confused the priorities of common sense in franchising and business. More so, these things occur when weak and misguided people are in charge of franchised businesses.

What’s it take to be victorious?

A franchisor fails without franchisees. Franchisees can’t even launch their businesses without a franchisor. The body needs its members. And one does not have to sacrifice the other for all to be victorious.

But of course, there are two necessary “ships” that must come into play for common sense and priorities to prevail.

How good’s the leadership in your company?

First: Leadership.

Whether it’s (more…)