Designing a process for effectively awarding franchises can be challenging. There is both a management and a leadership component to doing it. You may recall the image that Stephen Covey paints in “The 7 Habits of Highly Effective People” whereby a group of Workers are fighting their way through the jungle, wielding machetes and cutting [...]
Like most companies in most industries, franchisors have plenty of moving parts and pieces in their business. For instance, there are potential franchise candidates to evaluate, real estate to analyze, franchisees to train, and franchisees to support; not to mention all of the franchise contracts, leases, and disclosure requirements to keep tabs on. Many franchisors tout ” proven systems” as a main selling point or advantage to becoming a franchisee, however a quick look under the hood would reveal that many franchisors don’t have their own internal processes sorted out.
Most businesses seeking to franchise a concept do so with the belief that it is a proven way to expand their company successfully. However, its not nearly as easy as many statistics might lead you to believe. A handful of brands comprise the clear majority of successful franchises and thousands of smaller franchise systems experience [...]
Franchise systems come in many shapes and sizes. Long term success doesn’t come in the form of just more franchise sales. Insightful management and development of franchise systems is achieved via the adoption of certain philosophies, and many of those are counter to what pundits or experts claims.