You know you’ve achieved a level of success when your franchise system has passed the 20-unit mark and continues to grow. Your next goal: to grow the system to 50 locations and after that to 100 plus.
The path to these next milestones will be exciting, challenging and action-filled. You’ll hire more employees and add vendors to your supply chain.
Some of your franchisees will want to sell their locations while others will acquire more units. Some will fail and close shop or be reacquired by you. Some leases will come up for renewal, which means the possibility of rent increases, strategic store closures and re-imaging needs.
You will be considering establishing franchisee advisory councils or dealing with franchisee associations. The management of your franchise relationships will be critical to your future growth.
As you grow your franchise, ensure you get legal counsel from experts who know your industry and understand the unique needs of a franchised business. At Sotos, franchising is our specialty and our expertise covers a wide range of sectors.
Let us help your growing franchise with:
- Franchise health-check monitoring
- Franchisee relationship management
- Guest loyalty management
- Brand and customer experience measurement
- Franchise advisory council development and management
- New concept testing
- Store redesign/brand rejuvenation
- Marketing and promotion
- Competitive market analysis
- Territory expansion
- Key management development
- Franchise incentives and rewards