How do Franchising Consultants help?
A franchising consultant is someone who firstly, can help you identify whether your business is ready to be franchised or not. Like, making sure you have Robust POS (Point of sale) and accounting software, are your Brand standards and guidelines in place, are your Standard Operating Procedures (SOP) in place for franchises as well as what Franchising model is right for you, what should be the terms and revenue potential.
They can also help you find partners and investors, drive franchisee sales, strategize on marketing and help identify new revenue opportunities in the franchising game.
There are four main franchising models:
FOFO - Franchisee Owned Franchisee Operated
FOCO - Franchisee Owned Company Operated
COFO - Company Owned Franchisee Operated
COCO - Company Owned Company Operated