Franchise Business Radio: Tune Into the Franchise Business Radio show to hear from Franchise Marketing Systems President, Chris Conner on steps to franchise your business, key reasons why franchising is a viable growth strategy and more.
Tune Into the Franchise Business Radio show to hear from Franchise Marketing Systems President, Chris Conner on steps to franchise your business, key reasons why franchising is a viable growth strategy and more.
Franchise Marketing Systems is a full service franchise consulting agency that offers marketing and sales support to its clients, who are business owners wanting to launch and grow their business through franchising. Below are some interview excerpts.
Currie: Let’s start with an obvious question; what types of businesses can franchise and have franchised successfully?
Conner: One of the things that I love about this industry segment is that it is all inclusive. I think a lot of people have a tendency to think food and retail and this limits the scope of what franchising encompasses. In 21 years of doing this, I have worked with so many different types of brands and some have been kind of off the wall, totally new and innovative. The reality is if you have a good business system, if you have financials that make sense, if there’s a consumer demand and a consumer market for what you offer that is bigger and broader than what you can cover with your own company locations; than franchising may be a great vehicle to grow and scale it. Key things need to be in place and franchising is not for every business, but I would say there’s no industry segment that is ruled out.
Currie: Tell us the basics about franchising a business and how it works?
Conner: It’s like a partnership between two independent business owners. One entity, one of those business owners owns the rights to the brand and the business model, the system, the intellectual property and hopefully have a proven track record. They have a good feeling for how to run and operate the business. Then the “Franchisee” is someone who would like to have access to that intellectual property. If you think of some of the big brands like McDonald’s; McDonald’s corporate would be the “Franchisor”, who created this brand, they have operating systems and the “Franchisee” would like access to it. The “Franchisee” pays a fee to have the rights to use that name and get the rights to their system and the “Franchisor” would teach, train and coach them and help them avoid the mistakes of what they’ve learned doesn’t work and how to follow the path of what does work, if it’s done right.
For the complete interview, tune in to FranchiseBusinessRadio.com.
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Pamela Currie has 20+ years in franchising. As a Certified Franchise Consultant, Pamela helps individuals make an educated and informed decision when selecting a franchise. Pamela enjoys being a resource and partner in helping people find a franchise that aligns for them. Interested in franchise ownership? Contact Pamela at Pam@FranchiseIntellect.com for a complimentary consultation.