Franchise Brand Turnarounds
This service is designed to help once successful brands whose growth has recently stalled or has experienced a decline in locations. This could be a result of a changing marketplace or economic climate. National Franchise Advisors is helping franchise brands address these issues with the same strategic approach employed by “Corporate America” over the past decade as it recovered from economic issues of 2008. Our process focuses on your “pain points” and works within your system to drive change and growth.
We offer a free, 1-hour Introductory Discussion by phone or web-meeting where we learn about your business, the “pain points” you would like to resolve, your goals and objectives, and what you expect from a consulting or advisory group. Through this call we can better understand your concerns, your vision, and how we can assist. If you decide to go forward, we’ll arrange for the next stage in the process to get you and your brand back on track.
The Discovery and Assessment Process will involve a combination of information and discussions commensurate with the scope of the assignment. Typically we would request financial information, organizational charts, process documentation, etc. Also, depending on the assignment, this service level typically involves a physical visit one or more of your franchised locations (with your permission) and a meeting with the management team to further discuss vision, goals, and objectives.
The value proposition and evolution of your franchised brand will be explored with the objective of identifying possible differentiating factors that may provide competitive advantage and/or lend to opportunities for expanded brand awareness and consumer attraction not previously realized. The evaluation will also include the same factors as it pertains to marketing the franchise system.
The Recommended Solutions will include an action plan providing recommendations for immediate brand stability, improved unit economics, and a foundation for future growth. It could involve recommended adjustments to processes, personnel, brand identity, marketing strategies, and management systems. The essence of our program is to provide solutions that will effect a positive change in your profitability, customer experience, and employee morale. The solutions may also involve implementation “phase gates” with estimated costs associated with various stages of the plan. The process will be broken down into a progressive order that can be revised to accommodate an extended timeline for budgetary and/or other considerations. The key to our solutions will be sustainability and not short-term fixes.
The Implementation and Assistance phase can be designed at various levels of support. It can involve a complete management follow up program, on-going management coaching or mentoring, or situational mentoring as a resource for your developing management team. The goal is to develop a system where NFA can be directly involved with your team in the implementation of the recommended solutions and routine follow ups to ensure compliance and continuous improvement. The follow up will involve dashboard reviews, with you and your team, of data, identification of shortfalls, recommended actions, and accountability for corrective actions. This phase can also be designed to include only the periodic follow up.