This introduction explains what you can expect from this video series. Some of the questions we will be answering include:
- What do you need to consider before you become a franchisor?
- What are the threshold issues? Is your business ready to franchise, and if not, what steps need to be taken before you are ready?
- How do you make the determination that franchising is the right strategy to include in your expansion strategy?
Franchising is part of your overall business strategy. MSA Worldwide is here to help your franchising strategy successfully reach your goals.
This series will cover:
- The attributes of developing a strategic plan for your franchise system.
- How to recruit franchisees that are appropriate for your plan.
- How to achieve consistent, sustainable replication of your brand promise to the consumer.
- Legal aspects of franchising, including how to find good consultants and lawyers
Strategythat goes into the disclosure documents and franchise agreements.
- Tactical elements of manuals, training programs, and recruitment strategies.
This video series will also cover the types of publications you should read, what you should stay away from, and what is going on in the franchise community today.
Video Transcript:My name is Michael Seid. I am Managing Director of a consulting firm called MSA Worldwide. We are considered the leading franchise advisory firm in the United States. I'm the author of Franchising for Dummies, one of the leading books on franchising, which I wrote with an old friend and client of ours, Dave Thomas, the founder of Wendy's International, and the book is now in its third edition. I serve as a member of the board of directors of the International Franchise Association and MSA works with clients that are very very small up to clients the size of Coke Industries or McDonald's as strategic and tactical advisors.
What we're going to be doing in this program is looking at what you need to be considering before you become a franchisor, what are the threshold issues that you're going to be looking at, how do you make the determination that franchising is the right strategy to include in your expansion strategy, not whether franchising is going to be your only strategy, because we look at our clients today and franchising is just one strategy they use as they go to market.
We're going to spend some time looking at the attributes of developing a strategic plan for your franchise system so that you're able to recruit franchisees that are appropriate for your brand and that will be able to achieve for you consistent and sustainable replication of your brand promise to the consumer. We're going to spend time looking at the legal aspects because a lot of people think of franchising as a legal vehicle. The laws in franchising, while they're regimented, are not difficult, but it's the strategy that goes into the disclosure documents, it's the strategy that goes into the franchise agreements, it's a strategy that goes into who you're recruiting that will make you a successful franchisor.
You need to understand what the laws are and you need not
We want to look at some of the tactical elements in the program today about operations manuals, and training programs, and recruitment strategies, but what you're going to come out with from this program is a good solid introduction to the elements that you need to consider and develop your franchise system. Including how do you find good consultants, how do you find good lawyers, what types of publications you should read, what you should stay away from, and generally what is going on today in the franchise community. So with that as a beginning, let's get started.