Schooley Mitchell, the largest independent cost-reduction consulting firm in North America, is a well-respected and innovative franchise opportunity. The brand offers a comprehensive training program, state-of-the-art support systems, software tools and databases, a multimillion-dollar intranet environment, an innovative client protection system and something many franchisors don’t offer: a successful exit strategy. By Cindy Charette
Schooley Mitchell, the largest independent cost-reduction consulting firm in North America, is a well-respected and innovative franchise opportunity. The brand offers a comprehensive training program, state-of-the-art support systems, software tools and databases, a multimillion-dollar intranet environment, an innovative client protection system and something many franchisors don’t offer: a successful exit strategy.
Dennis Schooley, founder of Schooley Mitchell, feels it is important to discuss exit strategy with each franchise candidate initially and then review it more in-depth during franchisee training. According to Schooley, “The main point I want to make is that an exit strategy is one of those things that every franchise candidate considers before making a choice, and many times it is not being considered.” He added, “Many franchisors don’t want to bring the subject up because they don’t want their franchisees to think about exiting before they enter.”
However, franchisors should understand that a franchisee who wants to build their asset as quickly as possible so they can resell it is good for them; the franchisor still has the franchise either way.
“It’s in our interest to have people very concerned about the value of the assets they are building,” Schooley said. “Most consulting businesses really don’t have a good exit strategy. They can be good businesses, and you can get good renewals with clients and make good money, but at the end of the day, there may be nothing to sell because you can’t sell yourself.”
Schooley explained the careful decision-making process prospective franchisees should follow before investing, including considering the level of emotional fulfillment, profitability and the value of the asset. Schooley noted, “I think, for the right person, we certainly have that here at Schooley Mitchell.” Schooley Mitchell is a process-driven business, similar to an accounting firm or insurance agency, where there are many clients, making it scalable and saleable. The brand even offers an innovative tool to assist franchisees with determining the value of their business.
Cindy Charette