Looking to grow your SME business? Why franchising might be a great business model for you.
There are many ways to grow a business; organic growth, acquisition, agents and distributors, joint venture, and there are many others. In this session Ed Brewer and Patrick Burge will put the case that franchising should often at least be considered as an option, and why it has often not been considered.
Franchising is certainly not the best option for all businesses. However, to consider something you at least need to understand it, and we will take you through how franchising can be used to build a low debt, high growth, high value business; and counter-intuitively how this growth model enables the current shareholders to retain control of the brand, control of the business and control of how the business operates. It also provides exit options that SME’s often do not have open to them, a very profitable trade sale of the business.
There are many franchised business out there that you simple do not know are franchises. They are franchises, they just don’t look like them from the outside. We will showcase some.
We often speak with SME directors who say ‘you could not possibly franchise our business’ They are sometimes right, but often they are not; we will show you how some ‘unfranchisable businesses’ learnt about franchising and then used the franchise model to grow their business, even from their start-up phase.
The franchise sector is often viewed from the SME community with suspicion. Ed Brewer has been involved in Franchising a long time, Patrick Burge has helped grow business using many growth models; so using our ‘inside out’ experience we will explode some myths, demystify some complexity, and present the case that if you get your strategy, cash, people, execution and timing right, franchising could be for you; but unless you understand it, you cannot consider it.
Franchising may not be for you, but maybe it is.