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How to Build an Explosive Franchise

By November 9, 2024No Comments

How to Build an Explosive Franchise

By: Monte Silva

 

OK, I’m first to admit that during the 25 years that I was in senior leadership positions running full service restaurant operations, I didn’t learn anything about franchising. And, I still don’t know a lot compared to experts. However, what I’ve learned working with restaurant coaching clients who are working on franchise models over the last few years has taught me some things I’d like to share my journey with you.

For some background info, my client Nick Fosberg (Fozzy’s Bar & Grill) is launching his first franchise this year. David and Tashia Bailey (Secret Sandwich Society) have a successful licensing model. Eric Roy (Surfs Up) has a growing franchise model. What I have learned is from these clients as well as my friends Samuel Stanovich (Big Chicken) and Troy Hooper (Pepper Lunch).

Here is what I have learned successful franchises do so far……

PREPARE

  1. Develop a strong brand

It’s easier to scale when you have a strong brand.

  1. Perfect the product

Don’t market your brand before it’s ready

  1. Develop and Implement the right processes

You have to make success easy to duplicate

  1. Put Your team together

You can only grow as fast as your ability to develop and attract great people

EXECUTE

  1. Prove your model

Until you have more than 1 restaurant you don’t have a proven model only that you were luck once. Grow to at least 2-3 locations

  1. Maximize Sales/Profit

No one invests in great ideas unless they see the rewards

MARKET

  1. Develop a marketing plan to grow your existing business

Focus on promoting each location

  1. Create a separate marketing plan to expand your brand awareness

This strategy should be for attracting interest in the brand not growing imdividual store sales. (Not everyone pulls into McDonalds every time they see the golden arches. But everyone knows what the golden arches represents.)

  1. Create awareness that you are franchising

Connect and collaborate with franchisees and franchisors to communicate the offer.

  1. Only sign multi-unit franchise deals of 3 or more locations to better leverage time and growth

Signing a single location franchise deal is a slow, grinding process

 

If you are a restaurant owner and you would like to know how Monte Silva Coaching can help you thrive (not survive) by working ON your Business instead of IN it click here to BOOK A FREE CALL

https://calendly.com/montesilva/free-one-on-one-30-minute-call-with-monte?back=1&month=2024-06

 

About the Author

I started working in the restaurant industry when I was 15 years old and now have over 20 years of experience as a restaurant manager. I had a very successful restaurant career early on. Rising from bar manager, service manager, kitchen manager to GM for Wolfgang Puck in the first four years in management. During my time with Wolfgang Puck I was featured in David Steadman’s book Beverage Biz is Show Biz. However, this fast rise cost me dearly. After experiencing burnout and a divorce, I decided that I would figure out how to run successful restaurants while maintaining work/life balance. And I did! I moved to Nashville and dug in. My restaurants were consistently named in best of categories of several Nashville magazines in reader and writer polls.

My successful stewardship of these restaurants got me featured in Nashville Wine Press, The Tasting Panel, Restaurant Business Magazine, Nashville Scene, and many other publications. One of those restaurants was Acme Feed & Seed (the 31st highest grossing restaurant in the country at $18,500,000.) I later became Director of Operations overseeing four restaurants including Acme. And I did it while maintaining work/life balance.

Today, I am an expert restaurateur, restaurant coach, thought leader, author, and speaker. I work with restaurant owners, executives and their teams all over the country to maximize the success of their restaurant empire while still maintaining work/life balance.

I work with my clients focusing on PEOPLE, PROCESSES, PURCHASES, PRODUCT and PROFITs. Rather than the typical project-for-hire restaurant consultant (give a man a fish), I work with my clients as they implement my proven system (teach a man/woman to fish). My coaching concept is far more successful than the old consulting model.

 

If you would like to get a FREE COPY of my Hospitality Ebook click here

https://montesilvacoaching.com/shop/

For more information on Monte Silva Coaching visit

www.montesilvacoaching.com

To read more great articles you can use, visit www.trnusa.com/blog