As with all things in life, knowledge is power. Likewise, and more importantly, is hands-on experience. Hands on experience is knowledge that hasn’t been learnt from a book or website. It’s hard earned, expensive and priceless all at the same time. So when considering why franchise consultants are needed this is an article worth mulling over.
Let’s start with a simple analogy. At the time of writing according to the ATP, Roger Federer has spent 310 weeks as the best tennis player in the world. Justin Rose is the worlds No.1 golfer according to the PGA. Then there’s Anthony Joshua, who judged by his titles, he’s the best heavyweight boxer since Iron Mike. Did all these world beaters teach themselves? No, to sum up, the best in the world consult with trainers, managers and coaches. What does that tell you? Why don’t they just crack on by themselves?
Why franchise consultants are needed.
On to business now. Running any business is a challenge because there are a million drains on your time. Bookkeeping to do, websites to maintain, marketing to plan, sales to make. All successful businesses require the input of people with the right skills to get them there. One of my favourite entrepreneurs in Theo Paphitis. He personally was an integral reason why those Dragons Den entrepreneurs chose him. They wanted Theo to advise them and oversee their decision making. That, I would say, is a bigger appeal than his financial investment.
Successful franchisors usually have the input of an experienced franchise consultant. Deciding how to tackle any franchising issue isn’t easy without hands-on practical franchising experience. The consequences of every decision aren’t easy to fully appreciate in franchise land. Right there, that’s why franchise consultants are needed.
Can’t see the wood for the trees
External franchise consultants can see clearer because they are looking from the outside in. It is often an advantage not to get too intertwined with every issue. As a result, being able to stand back and look in often pays dividends. Working with franchisors the way I do means that I am not visually impaired by everything else going on. As a result, I can usually see right to the core issue swiftly.
Knowing what works for other franchisors
Successful franchise consultants know what is working with other franchise systems. Without breaching any confidential information that multi-sector experience leads to better decisions. Furthermore working across different categories and price points provides lessons that clients can benefit from. A franchisor can be kept afloat when they might have otherwise sunk with the right input from a franchise consultant. You don’t get that by breadth of knowledge with an employed Franchise Director. Or at least you might for a while, but then starved of new experiences in other sectors they soon get out of date.
The quality will remain long after the price is forgotten
As Sir Henry Royce co-founder of Rolls Royce said. Building a lasting franchise network can be a roller coaster ride with two steps forward and one back. Patient and diligent growth can be achieved if you’ve got an experienced consultant alongside you you’ll get there quicker. Underpinned by sound advice the best franchisors keep on growing despite the distractions. The quality of decision making affects faster network growth and royalty levels. A skilled experienced franchise consultant will recruit more franchisees than someone who just has a nice personality.
Kick yourself for as long as the franchise agreement
Most things are governed by a legal agreement in franchising. The shortest term is usually 5 years, many are longer. As a result when making those big franchise decisions bear in mind that if you get it wrong it’s in the contract. I usually find that if a franchisor wants a contractual change, a franchisee doesn’t. So you can kick yourself for the duration of the contract. You and your business are worth investing in sound advice. When deciding why franchise consultants are needed cost isn’t the most important factor. Consider the cost of getting it wrong. That can be terminal, litigious, stressful and lots of other unpleasantness. Savvy Franchisors can mitigate the downside and common errors.
Limes franchise consultant team are here to help you. So, contact us today and let’s start with an informal cup of tea at your place! Or call us on 01274 662001.