HOUSTON BUSINESS REVIEW

Framework of a Successful Franchise
By Adrienne Leigh

Adrienne Leigh is the President of FranNet of Houston, a franchise consulting firm that provides coaching to clients who are exploring franchise opportunities. She has over 20 years of experience in franchising and entrepreneurial start-ups. Each week, she will provide comprehensive information on the $1.5 trillion franchise industry.You can reach Addrienne at 713-586-8836 or via email. To learn more about Adrienne Leigh, check out her here

In this series, we will explore the factors that build a successful franchise system foundation.

Experience
Successful franchise companies bring substantial industry experience to the table. They should be experts in their business. Most companies don't require industry experience because they already know the industry. They need your business skills, not technical expertise. For this reason, franchising can be an effective way for you to transition to a new industry.

Training
In order to transfer their expertise to you, franchisors must become expert trainers. Training for new owners may range from two to eight weeks or more. A combination of training will usually be conducted at headquarters and in your market.

Ongoing Support
This support comes in many forms such as ongoing training, new product development, and new technology. Whatever the form, good franchise companies are always evolving their system to keep ahead of the competition.

Name Recognition
The importance of name recognition depends on the industry, but in consumer oriented businesses it is often what separates the franchises from independents. However, there is a paradox in name recognition; by the time we are aware of the name in our market, it is probably not available. You will want to see that the franchise has a track record of establishing the brand in a new market.

Proven Sales and Marketing Systems
You should expect time tested systems that fit the particular industry. Good franchisors have effective advertising materials and know what media is effective. If direct sales are required, training on networking and sales techniques should be provided.

Demographics and Site Selection
Good franchisors know the demographics required to support their business. If it is a business where location is important, you should expect the franchisor to provide assistance in finding the best location.

Speed and Efficiency
In the time from your decision to your opening day, effective franchisors should help expedite the start up process.

Simplicity
Franchisors tend to keep their business model simple, focusing on the activities that will make you the most money.

Culture of Teamwork
Effective franchisors realize that nobody has all the answers. They collaborate with experienced franchisees to constantly improve the business. Annual conventions, mentoring groups and advisory councils are just some of the ways franchisors support these efforts.

Coming Next Week – Your Business Model…Find What Will Get You To Your Goals

FranNet - The Franchise Connection provides FREE SERVICES for those looking to purchase their own franchised business. Ethical, experienced consultants give guidance, information and support while coaching clients to achieve their goals safely and affordably.

Meet real franchise experts and ask them questions, live!

FranNet - The Franchise Connection will be offering a series of free webinars, and seminars, each featuring a specific franchise opportunity, with valuable insight from an experienced FranNet expert.