Join Our Team: Franchisors
At FranChoice, our mission statement is, "Helping People Realize Their Dreams." This is not a glib statement we use to fool the public, it is the reason we are in business. This mission statement refers not only to the services we offer the public but, just as importantly, to the opportunity we offer to the franchisors and consultants we work with everyday.
The leading franchises we work with use our services to help them achieve their growth goals as a means to realize their dreams. We look upon the relationships we have with our franchisors as extremely important strategic alliances for us. Without strong and effective franchisors to work with, we will not be able to accomplish our goals.
We are constantly looking for more quality franchisors to work with. The emphasis in the preceding sentence is very much on the word "quality." The simple fact is that there are many franchise systems that want to grow and would like to use our services but do not have the characteristics that make us excited about referring our candidates to them.
We are very excited about the company we are building at FranChoice and the number of people that we are already helping to realize their dreams. We hope that you will want to become a part of the business we are building and that we can help you accomplish your company's growth goals and thereby realize your dreams.
The following sections provide additional information about the services we offer to consumers and franchisors. We also discuss the types of qualifications we are looking for in the franchise companies we work with. Finally, we discuss the next steps for any franchisor that would like to proceed further with FranChoice.
Our Service to Consumers
We offer valuable, credible advice and counseling to prospective franchisees who are not sure how to go about conducting an investigation of franchise opportunities. Our goal is to help the person find a match with a franchisor that is right for them. The process we use is simple and direct, but also very effective.
We begin with general solicitation to attract people who aren't sure how to proceed effectively with a search for a franchise that will be a good fit for them. We direct these people to the consumer information at our web site. This information explains exactly how our service works and, of course, the fact that it is free to the public. It also explains the minimum qualification standards that we require from someone before we can work with them.
A person can then request a full consultation with us through the submission of their completed questionnaire. In the course of this consultation meeting, which typically lasts about two hours, we learn a great deal more about the person. We review the person's history and interests, their business experience and skills, and the characteristics that make up an attractive opportunity for the person.
We provide a thorough investigation process that they can use to gather information about any franchise company. This process involves a series of steps including reviewing the franchisor's initial material, the FDD, validation calls and meetings with existing franchisees, meeting the franchisor, working with professional advisors and making a timely decision about the franchise opportunity.
We also review their financial status and have a frank conversation about what is realistic for them based on this factor. We discuss the reality of starting a new business and what their expectations should be in the first year or two. Finally, we work with them to build a model based on their input. This model will be used by the prospective franchisee to evaluate franchises they investigate to see how well the opportunity matches with what the person wants.
At the end of this process, we review the franchisors we work with to see if any appear to fit the model developed with the candidate. We give them a brief synopsis of each such company and discusses the general characteristics of the opportunity and why we believe these characteristics match their model.
We are often able to create significant interest in a company that they never would have considered before our conversation, based on this approach. We then refer the person to those companies that appear to closely match what the person is looking for.
The final step in our process is to stay in touch with the candidate as they conduct their investigations of the franchises we have referred them to. We typically call them on a regular schedule of at least one visit per week. We discuss progress toward decisions and any problems they feel they are having.
We are available as a resource to both the prospective franchisee and the franchisor to facilitate communication and help resolve any problems either party may feel they have with the other. Our goal throughout this part of the process is simply to assist both parties in getting all the information they need so that they can make a decision about one another as efficiently as possible.
Our Service to Franchisors
Most franchisors have an in-house effort to produce leads and recruit new franchisees to open units for their franchise. They have specific goals for system growth and the numbers of new franchisees they want to recruit. They have costs for this process that vary by lead source and have allocated significant resources to meet their goals.
In the past few years, many franchisors have found that the traditional sources they use to produce leads for prospective franchisees have been less effective than they once were. The incremental cost of recruiting new franchisees has increased dramatically and, in many cases, the old lead sources are simply not cost effective any more. At FranChoice, we offer a service that involves a risk free method for franchisors to achieve incremental growth in addition to whatever they are achieving through their other efforts.
The persons we refer to franchisors are quite different from the average lead that a franchisor processes. We have spent hours pre-screening the person. We are referring someone we believe to be financially qualified, serious about becoming a franchisee with some franchise system, and genuinely interested in conducting a serious investigation of this particular franchise.
A franchisor that works closely with us and has an effective and responsive communication system should do very well with our leads. We are paid fees by franchisors based on their success in converting our referrals into new franchisees in their system.
Many franchisors have contacted FranChoice and indicated a desire to work with the organization and receive the high-quality, pre-screened referrals we generate. We have found that a successful relationship with a franchisor requires more than just this desire. The reality is that unless a franchisor has certain characteristics, we probably won't have much success working together.
Rather than find this out through an experience that might be frustrating for both of us, we want to be clear from the beginning about what it takes to make this relationship work effectively. The most important characteristic we look for in a franchisor is the "quality" of the concept. We determine that by looking at a few critical factors. These include:
- The effectiveness of the franchisor's system for communicating with prospective franchisees. This takes into consideration both the quality of the communication tools the franchisor uses and the responsiveness of the franchisor's staff assigned to interact with prospective franchisees.
- The quality of the validation given by existing franchisees. Unless the existing franchisees in a franchise system are generally happy with the business, it is almost impossible for our system to work effectively with that franchisor. If there are significant unit failures or a record of litigation with franchisees, this has the same effect.
- The track record of the franchisor. We are looking for franchisors that have been in business a sufficient length of time and have grown a sufficient number of units so that it appears evident that they have solidified their systems and are ready to provide a stable and predictable opportunity for new franchisees.
- The income potential and rate of return for franchised units. It is necessary that a new franchisee be able to make a reasonable return in a reasonable period of time. We never discuss the specific economics of any opportunity with our candidates, but they will determine this during their investigation so the answer must be competitive.
As we mentioned in the beginning, we look upon the relationships we have with our franchisors as extremely important strategic alliances for us. Without strong and effective franchisors to work with, we will not be able to accomplish our goals. We hope that you will want to become a part of the business we are building and that we can help you accomplish your dreams through assisting you to meet your company's growth goals.
If you would like to proceed to the next step in terms of setting up a relationship, we need to hear from you. After an initial discussion, we will ask you to send us a copy of your promotional materials and a current FDD disclosure document. We will also provide you with a great deal of additional information about FranChoice®, Inc., including references, detailed information about our services, franchisor fees and copies of the contracts we use with franchisors.
To start this process, please send an email to: email@example.com.