Building your business into a franchise system will be one of the most important and expensive strategic moves you will make in the history of your business. Yet most new franchisors struggle to grow past 10 franchisees in their first 10 years of franchising. You have a highly successful business. You are the local expert […]
I want to dispel one of the great lies of franchising: the low cost of launching a franchise system. Here at the Franchise GrowthLab, we are on a mission to discover 樂威壯 ref=”https://franchisegrowthlab.com/blog/why-franchisors-fail-to-scale/”>why so many franchisors fail. One of the main reasons is a lack of funding at launch. Too often I hear consultants advise:
How Much Franchise Capital Do I Need for My Business? Part 1 Read More »
What Are Franchise Legal Agreements? When starting a franchise business, legal agreements are the a binding contract between a franchisee and franchisor which sets the premises of their mutual beneficial relationship. This is a key document about the franchisors licenses rights to intellectual property in-exchange for payments to start a franchise. Why Franchise Legal Agreements
Franchise Legal Agreements: 5 Step by Step Franchise Consulting Action Items To know Read More »
Franchising is a massive learning curve and a completely different business that needs to be mastered. Franchising is having a moment. During the economic disruption caused by the pandemic, the franchise business model has proven attractive. It is a less capital-intensive and more diverse way to scale a business concept. As a result, the U.S. and Canada are currently seeing
Most Franchisors Fail to Scale Because They Don’t Realize This Read More »
Welcome to the 3rd part of our series on who should be your first key hire to help you scale your franchise business. In Part 1, we went through what you, as the franchise founder, need to think about in terms of what you should not be doing inside your company as you expand. In
Whom Do I Hire Next: a Franchise Salesperson or a Business Development Coach? Part 3 Read More »
Franchise Founder: which one are you? In the pursuit of making the right first hire as an emerging franchisor, my last blog post was focused on identifying what tasks you, as founder, do not like doing, are not good at, yet are necessary to drive your company’s economic engine. That is always my starting point
Whom Do I Hire to Help Scale My Franchise Business? Part 2 Read More »
Find out who to hire in 4 easy steps One of the most frequently asked questions I get from emerging franchisors is: Who is my next franchise hire? Recently, I had a conversation with a client who had just reached her 11th franchisee. She had been stuck at five franchisees for a long time,
Franchisors Ask: What Role Should I Hire for Next? Part 1 Read More »
It has been a year since my exit and the launch of our franchise consulting company. Let me be specific: my full exit. Five years ago, I took the first step – selling a small stake in our company to a strategic partner. So, I had my first taste of what it was like to “sell” back
Reflections on 12+ Years of Franchise Growth and Building a Brand Across 3 Countries Read More »
John built one of the fastest growing and best operated franchise systems in the country before he exited in 2019 by being highly disciplined in using Verne Harnish’s Rockefeller Habits checklist. Through his experience and his learnings from other best in class franchisors, he adapted this list specifically for the franchise industry.
The Top 10 Habits checklist provides the 10 most important functions that should be on autopilot for your franchise business to grow and scale predictably and smoothly.