Changing your strategy along with your franchise
Franchise systems are generally structured when the company is small. Over time the company, the market in which it operates, and the profile of its franchisees can dramatically change. Our focus is on bringing our client’s approach to franchise expansion and support up to date, including where our clients have entered into international markets.
Many MSA clients have improved the performance of their franchisees by strengthening their program support and by offering more helpful guidance in site selection, operations, finance, local marketing and advertising, as well as personnel training. The effort can lead to higher-performing franchisees – and higher royalty payments.
For many new franchisees, running a business can be a complex undertaking. Besides having to know how to prepare products or deliver services to customers, they also need to understand how to manage the business, how to hire and train employees, how to advertise, and how to do the books. Not an easy task.
Whether you have been operating your franchise system for a year or for seventy years, it’s always beneficial to have outside experts in franchising assess your current program and determine if there are improvements that might benefit your performance. Making certain that your franchise system is maximizing its potential ensures that your franchise program remains competitive, continues to resonate well with existing franchisees, and furthers your attractiveness to your targeted franchisee candidates. It also allows you to validate if your current fee structure and system support is maximizing your bottom-line performance, as well as your valuation should you choose to sell your franchise system in the future.
MSA works with established franchisors to improve their franchise system performance, starting with a review and possible update of their franchise offering to ensure that it is appealing to their current targeted classes of franchisees. Where relationship issues have begun to surface with existing franchisees, we can support you in developing new approaches that can benefit those relationships.
Our work with established franchisors includes:
- Franchise system domestic and international expansion strategies and support
- Management and implementation of the franchisee recruitment and expansion program
- Evaluation and the development of change strategies for internal franchise sales processes and procedures
- Organization and operational support review
- Training program development and redesign, including eLearning
- Updating of franchise system manual libraries
- Brand fund modernization and administration
- Improvements to franchisee relations and system validation
- Field support optimization
- Litigation support and expert witness services
- Merger and acquisition support
Do you have further questions about improving the performance of your franchise system?
MSA can provide guidance on optimizing your franchise system strategy to navigate change for long term success.Get Strategic Advice