Does my company have what it takes to be a Franchise System?
Systems in place
(Part 4 in a 9 part series)
Potential clients ask us all the time:
My CPA/attorney doesn’t think I am ready to franchise- AM I?
We believe that an ordinary business, run extraordinarily is very “franchise-able”. Systems need to be in place, as well as process, people and policy to run an effective business, but more so in a franchise.
This is the one place in the series that you should be following the advice of your CPA.
Systems in Place. Can all of the daily operations of your business be analyzed? Can you track every aspect in your business from call to cash? Great franchises have great systems in place and an operating model which allows for training and duplication through franchising.
From Call: This is the ability to capture and track all incoming calls and inquiries.
It is vital to track your calls and to be able to systematically bring them through a sales process. This is typically systematized by a Customer Relationship Manager or CRM.
It never fails that we meet with a successful business owner who makes the best product, pizza, gadget or clothing in the world, but doesn't have a consistent way to market and sell the products or services they offer. This will always be franchisee's top objection when considering investing in a franchise business is how will they get customers....we need to be able to answer this question.
To Cash: Once a sale is made it is vital to be able to collect cash, place it in the bank and pay taxes. There are lots and lots of accounting systems, from easy to sophisticated.
Whether or not you have systems, implementing is necessary. There are lots of recourses at your disposal. Not having systems in place are not a reason not to franchise. We help our clients find solutions all the time.
We can review your systems in a FREE 30 minute consultation: