Fast track growth often comes at a high price often out of reach of the team since franchising and franchise recruitment are not core competencies that the company possesses.
It is more the rule than the exception that there are no processes to speak of for franchise selling, franchise sales compliance, franchise project financing, new owner onboarding, etc…
Things are loosely strung together with overviews and wishlists absent actionable plans and the needed underlying techniques and tactics that must be learned, practiced and used.
Systems? Not so much. Things disappear including franchise leads, prospects and team members.
This lack of experience means that the company’s ability to compete in recruiting franchise owners who have the requisite talent and capital for their success and for the franchise network’s sustainable and durable expansion go unrealized.
When a company grows through franchising it’s adding a new business that complements their core business that is being franchised.
This new and entirely foreign business strains the leadership team’s capabilities to learn franchising and grow at the same time with the end result often being disappointment, failure and the feeling that there’s an impenetrable wall standing in the way.
It has been said when it comes to franchising that “there are million little things to know”, and there are.
Drop us line if you want to chat about your franchising and how to improve what you are doing.
