Turning around stalled franchise growth through improved franchise relations…

The company is a 20 year old full service theme restaurant with both company and franchised operations. The Steed Consultancy was engaged to conduct a full assessment and make recommendations to rejuvenate the franchising effort.

Our research indicated the company needed to improve relations with and support to the existing franchise community first. From experience, we know prospective franchisees almost always contact existing franchisees as part of their due diligence process. Anything less than rave reviews can stall new franchise growth.

We developed strategies and tactics to improve the franchise relationships and support. We continue to work with the company on franchisee communications.

Providing mediation between franchisor and franchisee to get royalties current and improve franchisee operational performance…

As often happens in any chain, some franchisees fall behind in their operational quality which eventually leads to a decline in sales. The franchisee may then fall behind in his/her royalty payments to the company. An unpleasant business environment is created.

To remedy this, The Steed Consultancy was asked to mediate bringing a third party professional perspective to the situation.

We developed a plan agreed to by both parties that aided the franchisee with additional company support. This improved the franchisee’s sales and enabled a repayment plan by the franchisee to become current with royalties.

Examining the feasibility of and developing strategies for an established franchisor to enter the international marketplace…

Following an overall review and assessment of its franchising activities, this 15 year old U.S. leading superstore chain asked The Steed Consultancy to evaluate the possibility of international franchise expansion for the company.

The Steed Consultancy researched the marketplaces around the world for competitive activity in this company’s business segment, and the potential and perceived value of this US franchise.

With the likelihood of success in selected markets, The Steed Consultancy worked with the company to establish international franchise market development strategies and plans.

Advising slow growth through joint ventures instead of aggressive franchise growth…

As the oldest chain of its type in the state with a reputation built on quality with only company units and a very loyal local following, this company wanted to expand nationally through franchising.  

The Steed Consultancy was consulted for the best way to proceed.

After a careful and thorough analysis of the chain’s franchise market potential, we recommended that instead of franchising nationally, this company should expand out from its core market slowly through joint ventures.

Strategies and tactics for a new development agreement to continue growth in Russia….

Sometimes a fresh perspective can overcome what may appear to be even the most impossible franchise territory negotiation.

This forty year old international chain (in 26 countries already) was struggling with a franchise agreement to expand its base in Russia.

The Steed Consultancy brought new ideas and approaches to the negotiation that successfully resulted in a new signed agreement.

Understanding Franchising

Unified Thinking

To be the organization it hopes, the Franchisor works hard to select people who share its philosophy about being in business and being successful in business. When everyone up and down the organization is thinking, speaking and acting with one voice, that’s called unified thinking. With unified thinking, everyone is working for the same objective, rather than working at cross purposes with the organization or each other.

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Who Are Our Franchisees and How Do We Treat Them?

• Strategic-Partners in developing markets and building brand equity.
• Respectfully As part of our team
• As one of our primary interests
• As if we want them to succeed
• As investors in our brand
• As our method of distribution
• As people with good ideas
• As developers of market share
• As the critical element in our growth strategy

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How To Create Teamwork In A Franchise System

• Create unified thinking around everyone being committed to living the mission, core values
• Common strategic objectives and operational focus
• Common market objectives for: market share, number of units, new customers, repeat customers, frequency, average ticket, customer satisfaction
• Common company goals, common market goals, common unit goals, personal goals that tie into the other goals
• Personal goals that are positively influenced when the company’s and market’s business goals are met
• Communication about progress toward the accomplishment of individual, unit, market and company business goals
• A culture that builds on strengths and candor
• Involvement of people in everything that relates to the achievement of the mission, core values, their operation and their personal and corporate goals
• Individual accountability for results