What to Expect from a Franchise Consulting Firm
Franchising is an attractive and rewarding way to grow a business. The number of franchised businesses has been on the rise since 2014, and the industry continues to outpace the rest of the U.S. economy. Franchising can have a tremendous impact on business growth – if done the right way.
Along with the strong growth potential, franchising is a large enterprise full of potential pitfalls. If attempted without proper guidance, franchising can be frustrating and possibly disastrous for your business. Every aspect of growing the brand needs to be carefully considered. To go from business owner to franchisor and then to an emerging franchisor on the path to a 100-unit brand will inevitably require some assistance. Franchise consultants help businesses make the leap and set them on a path for successful growth.
A reputable franchise consultant will assess whether franchising is a feasible option for your business. If it is, the consultant can provide assistance from start to finish in developing the necessary foundation for a franchise system, determining territories and fees, structuring training and support and much more.
By partnering with a franchise consulting firm, you can expect:
Expertise in all Aspects of Building a Franchise System
A franchise consultant is an expert in the franchise industry and as such can help business owners in all aspects of building a franchise system. This includes everything from concept development and creation of operational and procedural manuals to the development of franchise sales processes and marketing strategies.
With extensive knowledge of franchising, franchise consulting firms help entrepreneurs develop franchise programs that are set up for success, including:
- Brand strategy and planning
- Infrastructure development and support
- Operations and training manuals
- Franchise disclosure document
- Franchise agreement
- Franchise development sales and marketing planning
For emerging franchises, cost controls are critical. A franchise consultant will help you design and manage your business’ financial controls by reviewing your business and providing recommendations to set up financial systems and infrastructure that controls costs.
Select franchise consulting firms can also support clients financially with franchise finance management services, investment capital and more.
The key to success as a franchisor is a solid strategy. A franchise consulting firm serves as a strategic partner, using industry experience to provide clear plans and tactics for emerging franchisors.
Franchise consulting firms help entrepreneurs develop iron-clad systems for everything from operations and supply chain management to marketing, funding and investment strategies. With the help of a strategic partner, emerging franchisors can develop a sound foundation for their brand.
Long-term Commitment to Your Business
A franchise consultant isn’t only there until you award your first franchise. As your business grows, your franchise consulting firm can be there every step of the way to help you scale your systems and processes to fit the ongoing needs of your franchise.
Any time you need help boosting your brand’s growth, a franchise consultant can help you develop marketing and sales strategies or resources to help you grow your business.
With the support of a franchise consulting firm like Winmark Franchise Partners, emerging franchisors can avoid many of the obstacles that new franchisors typically encounter by building a strong foundation for their brand.
Are you ready to start your journey as a franchisor? Winmark Franchise Partners can help. As trusted franchise advisors with more than 30 years of franchising experience and more than 800 franchise owners representing over 1,200 locations for five brands, we have the expertise to help you succeed. To learn more, contact us here or at (844) 452-4600.