Franchise Experts Offer Free Consultation at NRA 2013 on How To Franchise Your Restaurant
May 2013: HOMEWOOD, ILLINOIS – Any restaurant owner knows that opening a unit takes time, and that the number of restaurants an owner/operator can open at any one time is limited, even for the most sophisticated restaurant systems.
For restaurants with too little time, too little staff, or too few capital resources for expansion, franchising can help solve these issues by having the franchisee do most of the heavy lifting. Thus, franchising not only provides the restaurateur financial leverage, but it allows “resource leverage” as well.
To help restaurant owners determine if franchising is the right path for their expansion goals, Chicago-area franchise consulting firm, iFranchise Group, announced it will be offering restaurant owners free evaluations of their businesses’ franchise feasibility at the National Restaurant Association (NRA) show in May 2013.
Every year at the show, iFranchise Group is approached by restaurant owners considering franchising. “As we prepare for our ninth year exhibiting at the NRA show, we are pleased to announce that iFranchise Group will be offering free consultations to restaurants considering franchising. Simply stop by our booth #4962 and we can schedule a consultation,” iFranchise Group CEO Mark Siebert announced today.
Siebert has been a franchise consultant for over 25 years and has personally consulted with hundreds of restaurant concepts on franchisability. Franchising, according to Siebert, allows a restaurateur to avoid the typical issues with organic expansion by substituting a highly motivated franchisee as both business owner and unit manager. When it comes to growth, the biggest barrier for any restaurateur is typically capital. Since the franchisee provides the initial investment in the restaurant, franchise growth can occur at a much lower cost to the franchisor than organic growth. And since the franchisee has a stake in the unit, restaurant AUVs will often be higher than with units managed by hired staff.
“While it seems as if every successful restaurant is doing it, franchising is not right for everyone”, Siebert added. “There are a number of key issues that should be addressed prior to making that leap.”
Franchise experts at the firm emphasize that in order to successfully sell franchises, the franchised restaurant must be credible in the eyes of prospective franchisees and must be unique in some way if it is to have the “sizzle” that ultimately sells franchises.
Beyond that, the restaurant’s menu and operations need to be assessed to determine whether the restaurant can be duplicated without losing quality. Are operations readily teachable, systemized, and documented in an operations manual?
Perhaps most important, the restaurant will need to provide an adequate return to both the franchisor and the franchisee. That means the future franchisor will need to adjust the franchisee’s potential returns after deducting a royalty. The iFranchise Group will conduct this analysis on behalf of companies throughout the show and immediately thereafter.
To schedule this analysis, visit iFranchise Group at Booth #4962 at the NRA show to speak to one of its franchising experts.
About iFranchise Group: iFranchise Group is a leading franchise consulting firm that offers the skills of the nation’s top professionals in franchise strategic planning, operations training and documentation, franchise marketing and sales, advertising fund management, franchise recruitment, and development of Internet-based applications for emerging and established franchise companies worldwide.