As with any business, knowledge, expertise, know-how and credibility is all part of the successful formula. Having spent some 25 years in the exciting world of franchising Gary has gained a wealth of knowledge and experience both as a Franchisor and a Franchise Consultant.
When considering franchising your business, it is important to engage individuals who have the necessary knowledge and experience, more importantly, consultants that have first-hand experience of creating, developing and managing a successful franchise network, providing practical and effective solutions.
Working with a plethora of businesses from different sectors also helps with this wealth of experience and knowledge and can often relate to commercial advantages found in other franchise businesses.
Gary Rigby, having worked for some 16 years as a Franchisor, and for the last 8 years as a Franchise Consultant working with many prominent franchise brands, has this fine balance of practical experience, coupled with the theoretical options for anybody considering franchising their business. Also, after many years within the industry having seen and experienced both the positive and negative benefits of successful franchising, this knowledge is then put into practice.
Throughout a year, Gary will see several businesses which have decided to franchise the business themselves and have made some key fundamental mistakes during the process, often these mistakes cannot be rectified; for the sake of taking initial professional advice these pitfalls could have been easily avoided.
When setting up a franchise opportunity there are a number of key areas that potential franchisors must consider:
- Existing or Proposed Business – is the existing business or business idea the model that is best suited to franchising, or alternatively because of fundamental franchise principles are we looking to modify that business model moving forward? Again, a franchise consultant can add considerably to this process because of their experience and knowledge.
- The Foundational Franchise – the reason that franchises have a greater degree of success over stand-alone start-up businesses is typically because of the foundational or pilot franchise operation, in essence what is happening is putting the theory into practice and, to a degree, proving that provided certain aspects such as social-economics are the same within each region, the business should theoretically work.
- The Franchise Offering – as with any business proposition the franchise offering or franchise package should clearly define the key elements to the particular type of franchise opportunity with regards to the deliverables, again an experienced franchise consultant can add significantly to the original proposition, again drawing on the experiences from a plethora of different sectors and franchise operations.
- Knowledge and Expertise – often when Gary consults the smaller business owners have a wealth of knowledge and experience but this is seldom documented sufficiently for the franchise operation, in his experience. Again, a suitably qualified franchise expert would be able to extract and provide this information to its “franchise partners”, this wealth of knowledge and experience can be significant, particularly if a business has operated for many years. Of course, this forms part of the intellectual property of the company.
- Bringing the Concept to the Market – of course a good franchise consultant is nothing without the necessary experience to bring the franchise concept to the public domain and create interest in the franchise proposition, some consultants work independently, others work as part of a larger team with associated peripheral services. The FDS consultant of course has in their portfolio a number of on-line and hardcopy franchise promotional avenues; again this is vitally important when a potential franchisor is considering franchising his or her business.
- Appointing Franchise Owners – a professional franchise consultant will be able to help and steer their clients to successfully select candidates to purchase their franchise opportunity, the process itself if you have experience as a business owner is somewhat different to the process of appointing employees, mainly because of the knowledge, expertise and, of course the intellectual property rights that you will be bestowing to the franchise owner, again the consultant should guide you through this important process and there are many things to consider.
- Managing a Franchise Network – any good franchise consultant will explain the pros and cons to the business owner, franchising a business is not the panacea to all problems and issues that exist in a company, in fact, it is quite the opposite. As a Franchisor you are in effect starting another business, both businesses have to thrive and survive and for this to happen an experienced franchise consultant should guide you through the process both initially and on-going, this can be either finding suitable key individuals to manage and develop the franchise or, as we often find, individuals within the company that have the potential to grow and develop with the franchise operation, training these individuals is an important aspect that Gary provides.
Hopefully this brief introduction to developing a franchise business provides an insight into how Gary Rigby as an FDS Consultant, helps businesses to develop their existing business or concept because getting it right from day one will pay dividends both in the short and long term. In essence, engage the best expert within franchising that your company can afford from the start.