Franchise Development Assessments
In order to succeed in growing your brand, the development team must have a sound sales process, tools and procedures to attract the ideal candidate. Fish helps provide a full and complete assessment of the entire franchise sales and development function to assist your brand’s growth. Our services range from defining the ideal franchise profile, franchise value proposition and sales process to evaluating your real estate/unit development strategy, marketing material audit and developing a lead generation marketing plan. Additional assessments include FDD review, supplier partner evaluation and competitive analysis.
Strategic Plans for Franchise Development
Selling or awarding franchises are not enough for a brand to truly succeed. Getting locations open is critical for franchisors to reach the threshold of royalty sufficiency. Our franchise consulting team provides our partners with a strategic road map to accelerate their franchising program with the goal of producing a reliable and sustainable new opening pipeline with qualified franchisees, in the right markets at the right time. Fish’s deliverables for this level of engagement include:
- Overview and executive summary
- Strategic priorities
- SWOT Analysis
- Unit development and deal structure
- Target prospects
- Market planning and site identification strategy
- Operations team engagement
- Lead generation marketing plan
Franchise Sales Team Mystery Shop
So you have a strong brand, compelling AUV, solid Item 19, but the pipeline is looking empty. Ultimately, having the best franchise opportunity may not be enough to succeed as it comes down to who is actually “selling” it to your target franchisees. Fish provides emerging and mature franchise brands with a thorough mystery shop program to assess your sales team’s performance. As part of this service offering, we assess the initial lead follow up practices, brand presentation, sales process, use of earnings claims, and ultimately, the overall effectiveness of the franchise sales representative. Once complete, we will provide a detailed written report and suggested recommendations for improving your sales team’s performance.
Sales Process Evaluation, Development and Implementation
A sales team without a sound process in place cannot be effective in growing a brand. Our franchise consulting team works with franchisors to evaluate their current process – or lack thereof – and design and deploy a revamped sales process with set goals and quantifiable measurement tracking. Fish will thoroughly review all aspects of the sales process including, but not limited to, all recent years lead generation and franchise pipeline metrics; sales process and work flow; prospect gaps and abortion rates; CRM functionality, usage and reporting capabilities; form submittal and applications process; Discovery Days and validation stages. Finally, we will develop and implement your new sales process, metrics and reporting standards.
Implementation of Strategic Plan
In order to succeed in growing a brand, having a strategic plan is not enough. Effective implementation is critical. Fish’s franchise consulting team has the experience to take a plan, bring it to life and fill your pipeline. Following our assessments and plan development, we work on a retained basis with Senior Leadership to manage execution of the plan. Specifically, we’ll educate and coordinate with all stakeholders (internally, suppliers and vendors), manage and oversee the launch of the plan, evaluate initial results and make adjustments as needed. Once launched and underway, we will then work to transition the management of the ongoing program with the franchise development team.
Integrator and advisor to Emerging Franchisors
Working closely with founders of already established early stage franchise systems, we advise and consult on the steps necessary to take the franchisor to royalty self-sufficiency and beyond. Working on a retained basis, areas of work include:
- Evaluation of unit level economics to ensure scalability
- Competitive positioning and brand differentiation
- Development strategy and structure
- Evaluation of outsourced needs
- Evaluation of systems, standards, processes
- Sourcing, evaluation, selection and integration of platforms to support franchisee success